Daily Archives: June 16, 2017

Subscrie digitally Atal Pension Yojana

Atal Pension Yojana (APY) can now be subscribed digitally; eNPS Channel (“APY@eNPS) involves complete digital enrolment process Pension Fund Regulatory and Development Authority (PFRDA) has now introduced “APY@eNPS” which involves a complete digital enrolment process. This is the latest in the series of various initiatives taken by PFRDA for expansion of outreach of Atal Pension… Read More »

Computation of interest income on secondary adjustments : CBDT Notification

Rule 10CB of Income Tax Rules relating to Computation of interest income pursuant to secondary adjustments.Notified by CBDT  – [ Notification No. 52/2017, F.No.370142/12/2017 -TPL ] MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 15th June, 2017 G.S.R. 590(E).— In exercise of the powers conferred by sub-section (2) to… Read More »

Paying freight to GTA Liable for GST Registration

Is person having turnover > Rs. 20 Lacs exclusive deals in tax-free goods and paying freight to GTA (Goods Tranport Agency ) liable for registration under GST ? He will need to be registered if he is paying tax on reverse charge basis. Please refer to Section 24 of the CGST Act. Also read List of Services… Read More »

Category: GST

License fee will be covered under GST

Licence fees received by giving commercial space on leave and licence basis come under GST ? License fee will be covered under GST [ Reply  as per Twitter Account of Govt of India for GST queries of Taxpayers ] Read Other related GST Questions / Queries replied  Read other related GST Technical / GST Tech Questions  

No format for GST invoice Prescribed

Is there a format for GST invoice ? There is no format but all the relevant particulars to mentioned are in Rule 1 of invoice rules.  All Taxpayers are free to design there own Invoice Format. [ Read Tax Invoice under GST of India – Analysis ] [ Reply  as per Twitter Account of Govt of India for GST… Read More »

100% export oriented company has to register for GST

100% export oriented Medical Transcription company has to register for GST? Kindly clarify. Yes he has to register. [ Reply  as per Twitter Account of Govt of India for GST queries of Taxpayers ] Read Other related GST Questions / Queries replied  Read other related GST Technical / GST Tech Questions

Category: GST

Daily use products, LPG to become cheaper under GST

Daily use products, LPG to become cheaper under GST Daily use products, LPG to become cheaper under GST Note books, domestic LPG, aluminium foils, insulin, agarbatti and a large number of daily use household products will become cheaper under the GST regime set to be rolled out from July 1. In a majority of supplies… Read More »

Category: GST

Fast Track Insolvency Resolution Process for Corporate Persons Regulations notified by IBBI

Insolvency and Bankruptcy Board of India notifies Fast Track Insolvency Resolution Process for Corporate Persons Regulations The Insolvency and Bankruptcy Board of India (IBBI), in exercise of its powers conferred by sections 58, 196 and 208 read with section 240 of the Insolvency and Bankruptcy Code, 2016 (Code), has notified the Insolvency and Bankruptcy Board… Read More »

GST Enrolment to reopen from 25.06.2017

Existing Taxpayers of VAT, Service Tax, Central Excise DO NOT WORRY If you have not enrolled for GST yet, or If you have activated your account under enrolment but not submitted the application ENROLMENT WINDOW WILL REOPEN ON 25th JUNE 2017 AND CONTINUE FOR 3 MONTHS AS PER RULE. Also note that your provisional ID… Read More »

Schedule GST Compensation to States Act 2017

Schedule GST Compensation to States Act 2017 [ Goods And Services Tax (Compensation To States) Act, 2017 . This Act has been assented by the President of India on 12-4-2017. This is an Act to provide for compensation to the States for the loss of revenue arising on account of implementation of the goods and services tax in… Read More »

Category: GST

Section 14 GST Compensation to States Act 2017

Section 14 GST Compensation to States Act 2017 [ Goods And Services Tax (Compensation To States) Act, 2017 . This Act has been assented by the President of India on 12-4-2017. This is an Act to provide for compensation to the States for the loss of revenue arising on account of implementation of the goods and services tax… Read More »

Category: GST

Section 13 GST Compensation to States Act 2017

Section 13 GST Compensation to States Act 2017 [ Goods And Services Tax (Compensation To States) Act, 2017 . This Act has been assented by the President of India on 12-4-2017. This is an Act to provide for compensation to the States for the loss of revenue arising on account of implementation of the goods and services tax… Read More »

Category: GST

Section 12 GST Compensation to States Act 2017 – Power to make rules.

Section 12 GST Compensation to States Act 2017 [ Goods And Services Tax (Compensation To States) Act, 2017 . This Act has been assented by the President of India on 12-4-2017. This is an Act to provide for compensation to the States for the loss of revenue arising on account of implementation of the goods and services tax… Read More »

Category: GST

Section 10 GST Compensation to States Act 2017

Section 10 GST Compensation to States Act 2017 [ Goods And Services Tax (Compensation To States) Act, 2017 . This Act has been assented by the President of India on 12-4-2017. This is an Act to provide for compensation to the States for the loss of revenue arising on account of implementation of the goods and services tax… Read More »

Category: GST

Section 9 GST Compensation to States Act 2017

Section 9 GST Compensation to States Act 2017 [ Goods And Services Tax (Compensation To States) Act, 2017 . This Act has been assented by the President of India on 12-4-2017. This is an Act to provide for compensation to the States for the loss of revenue arising on account of implementation of the goods and services tax… Read More »

Category: GST

Section 8 GST Compensation to States Act 2017

Section 8 GST Compensation to States Act 2017 [ Goods And Services Tax (Compensation To States) Act, 2017 . This Act has been assented by the President of India on 12-4-2017. This is an Act to provide for compensation to the States for the loss of revenue arising on account of implementation of the goods and services tax… Read More »

Category: GST

Section 7 GST Compensation to States Act 2017

Section 7 GST Compensation to States Act 2017 [ Goods And Services Tax (Compensation To States) Act, 2017 . This Act has been assented by the President of India on 12-4-2017. This is an Act to provide for compensation to the States for the loss of revenue arising on account of implementation of the goods and services tax… Read More »

Category: GST

Section 6 GST Compensation to States Act 2017

Section 6 GST Compensation to States Act 2017 [ Goods And Services Tax (Compensation To States) Act, 2017 . This Act has been assented by the President of India on 12-4-2017. This is an Act to provide for compensation to the States for the loss of revenue arising on account of implementation of the goods and services tax… Read More »

Category: GST

Section 5 GST Compensation to States Act 2017

  Section 5 GST Compensation to States Act 2017 [ Goods And Services Tax (Compensation To States) Act, 2017 . This Act has been assented by the President of India on 12-4-2017. This is an Act to provide for compensation to the States for the loss of revenue arising on account of implementation of the goods and services… Read More »

Category: GST

Section 4 GST Compensation to States Act 2017

Section 4 GST Compensation to States Act 2017 [ Goods And Services Tax (Compensation To States) Act, 2017 . This Act has been assented by the President of India on 12-4-2017. This is an Act to provide for compensation to the States for the loss of revenue arising on account of implementation of the goods and services tax… Read More »

Category: GST

Section 3 GST Compensation to States Act 2017

Section 3 GST Compensation to States Act 2017 [ Goods And Services Tax (Compensation To States) Act, 2017 . This Act has been assented by the President of India on 12-4-2017. This is an Act to provide for compensation to the States for the loss of revenue arising on account of implementation of the goods and services tax… Read More »

Category: GST

Section 2 GST Compensation to States Act 2017

Section 2 GST Compensation to States Act 2017 [ Goods And Services Tax (Compensation To States) Act, 2017 . This Act has been assented by the President of India on 12-4-2017. This is an Act to provide for compensation to the States for the loss of revenue arising on account of implementation of the goods and services tax… Read More »

Category: GST