Daily Archives: August 17, 2017

GST ITC on Work-in-Progress : Issues and suggestions

By | August 17, 2017

Suggestions on GST Acts (July 2017) by Institute of Chartered Accountants of India 3. Availment of credit of input tax on Work-in-Progress Section 18(1) of CGST Act, 2017 provides that Subject to such conditions and restrictions as may be prescribed- (a) A person who has applied for registration under the Act within thirty days from… Read More »

Category: GST

GST on Construction portion completed prior to Sale : Issues and Suggestions

By | August 17, 2017

Suggestions on GST Acts (July 2017) by Institute of Chartered Accountants of India Suggestions on Construction Sector 1. Taxability of Construction portion completed prior to Sale Entry 5(b) of Schedule II read with Section 7 of CGST Act, 2017 provides that construction of a complex, building, civil structure or a part thereof, including a complex… Read More »

Category: GST

Mobile App MyFASTag and FASTag Partner launched by NHAI

By | August 17, 2017

NHAI launches mobile App MyFASTag and FASTag Partner  Apps will facilitate the availability of FASTags for Electronic Toll Collection  National Highways Authority of India launched two mobile Apps – MyFASTag and FASTag Partner in New Delhi today, to facilitate the availability of FASTags for Electronic Toll Collection.  Speaking on the occasion the NHAI Chairman Shri… Read More »

Exchange Rate of Foreign Currency w.e.f 18th August 2017

By | August 17, 2017

Exchange Rate of Foreign Currency Relating To Imported and Export Goods Notified In exercise of the powers conferred by Section 14 of the Customs Act, 1962 (52 of 1962), and in supersession of the notification of the Central Board of Excise and Customs(CBEC) No.75/2017-CUSTOMS (N.T.), dated  3rd August, 2017, except as respects things done or omitted to be done… Read More »

Schedule III Gujarat GST Act 2017 : Activities or transactions which shall be treated neither as a supply of goods nor a supply of services

By | August 17, 2017

Schedule III Gujarat GST Act 2017 ( Schedule III Gujarat GST Act 2017 explains Activities or transactions which shall be treated neither as a supply of goods nor a supply of services  )  SCHEDULE III (See section 7(2)(a))   ACTIVITIES OR TRANSACTIONS WHICH SHALL BE TREATED NEITHER AS A SUPPLY OF GOODS NOR A SUPPLY OF SERVICES 1. Services… Read More »

Schedule II Gujarat GST Act 2017 : Activities to be treated as supply of goods or supply of services

By | August 17, 2017

Schedule II Gujarat GST Act 2017 ( Schedule II Gujarat GST Act 2017 explains Activities to be treated as supply of goods or supply of services  )  SCHEDULE II (See section 7(1)(d)) ACTIVITIES TO BE TREATED AS SUPPLY OF GOODS OR SUPPLY OF SERVICES 1. Transfer (a) any transfer of the title in goods is a supply of goods;… Read More »

Schedule I Gujarat GST Act 2017 : Activities to be treated as supply even if made without consideration

By | August 17, 2017

Schedule I Gujarat GST Act 2017 ( Schedule I Gujarat GST Act 2017 explains Activities to be treated as supply even if made without consideration )  SCHEDULE I (See section 7(1)(c)) ACTIVITIES TO BE TREATED AS SUPPLY EVEN IF MADE WITHOUT CONSIDERATION 1. Permanent transfer or disposal of business assets where input tax credit has been availed on such… Read More »