Daily Archives: September 26, 2017

Penalty for not displaying GSTIN number & issuing Incorrect Invoice : Trade Circular No 43T of 2017

By | September 26, 2017

Maharashtra Govt has issued Trade Circular No 43T of 2017 Dated 25th sep 2017  Particulars to be displayed on the Board and Penalty provisions for non-compliance under MGST Act. TRADE CIRCULAR 9th floor, GST Bhavan, Mazgaon, Mumbai- 400010. To………………………………… …………………………………….. ……………………………………. No. HQ-1/Registration/GST-2017/ Act B-162 Mumbai Trade Circular. 43T of 2017 Date: 25-09-2017  Sub:- Particulars to be… Read More »

Tips for Filing GSTR 1 GST Return

By | September 26, 2017

Tips for Creating New GSTR1 (upload new invoices/other data for return) Create and upload the Outward Supplies details in the GSTR 1 using the Returns Offline tool. 1. Before using the GSTR1 excel template for filling outward supply details, delete all sample data from all worksheets. 2. Before importing the excel file in the offline… Read More »

Section 80 Kerala GST Ordinance 2017 : Payment of tax and other amount in instalments

By | September 26, 2017

Section 80 Kerala GST Ordinance 2017 [ Section 80 Kerala GST Ordinance 2017 explains Payment of tax and other amount in instalments  and is covered in CHAPTER XV DEMANDS AND RECOVERY ] Payment of tax and other amount in instalments 80. On an application filed by a taxable person, the Commissioner may, for reasons to be recorded in writing, extend… Read More »

Section 79 Kerala GST Ordinance 2017 : Recovery of tax

By | September 26, 2017

Section 79 Kerala GST Ordinance 2017 [ Section 79 Kerala GST Ordinance 2017 explains Recovery of tax  and is covered in CHAPTER XV DEMANDS AND RECOVERY ] Recovery of tax 79. (1) Where any amount payable by a person to the Government under any of the provisions of this Ordinance or the rules made thereunder is not paid, the proper… Read More »

Section 78 Kerala GST Ordinance 2017 : Initiation of recovery proceedings

By | September 26, 2017

Section 78 Kerala GST Ordinance 2017 [ Section 78 Kerala GST Ordinance 2017 explains Initiation of recovery proceedings  and is covered in CHAPTER XV DEMANDS AND RECOVERY ] Initiation of recovery proceedings 78. Any amount payable by a taxable person in pursuance of an order passed under this Ordinance shall be paid by such person within a period of three… Read More »

Section 77 Kerala GST Ordinance 2017 : Tax wrongfully collected and paid to Central Government or State Government

By | September 26, 2017

Section 77 Kerala GST Ordinance 2017 [ Section 77 Kerala GST Ordinance 2017 explains Tax wrongfully collected and paid to Central Government or State Government  and is covered in CHAPTER XV DEMANDS AND RECOVERY ] Tax wrongfully collected and paid to Central Government or State Government 77. (1) A registered person who has paid the Central tax and State tax… Read More »

Section 76 Kerala GST Ordinance 2017 : Tax collected but not paid to Government

By | September 26, 2017

Section 76 Kerala GST Ordinance 2017 [ Section 76 Kerala GST Ordinance 2017 explains Tax collected but not paid to Government and is covered in CHAPTER XV DEMANDS AND RECOVERY ] Tax collected but not paid to Government 76. (1) Notwithstanding anything to the contrary contained in any order or direction of any Appellate Authority or Appellate Tribunal or court… Read More »

Section 75 Kerala GST Ordinance 2017 : General provisions relating to determination of tax

By | September 26, 2017

Section 75 Kerala GST Ordinance 2017 [ Section 75 Kerala GST Ordinance 2017 explains General provisions relating to determination of tax and is covered in CHAPTER XV DEMANDS AND RECOVERY ] General provisions relating to determination of tax 75. (1) Where the service of notice or issuance of order is stayed by an order of a court or Appellate Tribunal,… Read More »

Section 74 Kerala GST Ordinance 2017 :Determination of tax not paid or short paid or erroneously refunded or input tax credit wrongly availed or utilised by reason of fraud or any wilful misstatement or suppression of facts

By | September 26, 2017

Section 74 Kerala GST Ordinance 2017 [ Section 74 Kerala GST Ordinance 2017 explains Determination of tax not paid or short paid or erroneously refunded or input tax credit wrongly availed or utilised by reason of fraud or any wilful misstatement or suppression of facts and is covered in CHAPTER XV DEMANDS AND RECOVERY ] Determination of tax not… Read More »

Section 73 Kerala GST Ordinance 2017 : Determination of tax not paid or short paid or erroneously refunded or input tax credit wrongly availed or utilised for any reason other than fraud or any wilful misstatement or suppression of facts

By | September 26, 2017

Section 73 Kerala GST Ordinance 2017 [ Section 73 Kerala GST Ordinance 2017 explains Determination of tax not paid or short paid or erroneously refunded or input tax credit wrongly availed or utilised for any reason other than fraud or any wilful misstatement or suppression of facts and is covered in CHAPTER XV DEMANDS AND RECOVERY ] Determination of… Read More »

Section 72 Kerala GST Ordinance 2017 : Officers to assist proper officers

By | September 26, 2017

Section 72 Kerala GST Ordinance 2017 [ Section 72 Kerala GST Ordinance 2017 explains Officers to assist proper officers and is covered in CHAPTER XIV INSPECTION, SEARCH, SEIZURE AND ARREST ] Officers to assist proper officers 72. (1) All officers of Police, Railways, Customs and those officers engaged in the collection of land revenue, including village officers, officers of central… Read More »

Section 71 Kerala GST Ordinance 2017 : Access to business premises

By | September 26, 2017

Section 71 Kerala GST Ordinance 2017 [ Section 71 Kerala GST Ordinance 2017 explains Access to business premises and is covered in CHAPTER XIV INSPECTION, SEARCH, SEIZURE AND ARREST ] Access to business premises 71. (1) Any officer under this Ordinance, authorised by the proper officer not below the rank of Joint Commissioner, shall have access to any place of… Read More »

Section 70 Kerala GST Ordinance 2017 : Power to summon persons to give evidence and produce documents

By | September 26, 2017

Section 70 Kerala GST Ordinance 2017 [ Section 70 Kerala GST Ordinance 2017 explains Power to summon persons to give evidence and produce documents and is covered in CHAPTER XIV INSPECTION, SEARCH, SEIZURE AND ARREST ] Power to summon persons to give evidence and produce documents 70. (1) The proper officer under this Ordinance shall have power to summon any… Read More »

Section 69 Kerala GST Ordinance 2017 : Power to arrest

By | September 26, 2017

Section 69 Kerala GST Ordinance 2017 [ Section 69 Kerala GST Ordinance 2017 explains Power to arrest and is covered in CHAPTER XIV INSPECTION, SEARCH, SEIZURE AND ARREST ] Power to arrest 69. (1) Where the Commissioner has reasons to believe that a person has committed any offence specified in clause (a) or clause (b) or clause (c) or clause… Read More »

Section 68 Kerala GST Ordinance 2017 : Inspection of goods in movement

By | September 26, 2017

Section 68 Kerala GST Ordinance 2017 [ Section 68 Kerala GST Ordinance 2017 explains Inspection of goods in movement and is covered in CHAPTER XIV INSPECTION, SEARCH, SEIZURE AND ARREST ] Inspection of goods in movement 68. (1) The Government may require the person in charge of a conveyance carrying any consignment of goods of value exceeding such amount as… Read More »

Section 67 Kerala GST Ordinance 2017 : Power of inspection, search and seizure

By | September 26, 2017

Section 67 Kerala GST Ordinance 2017 [ Section 67 Kerala GST Ordinance 2017 explains Special audit and is covered in CHAPTER XIV INSPECTION, SEARCH, SEIZURE AND ARREST ] Power of inspection, search and seizure 67. (1) Where the proper officer, not below the rank of Joint Commissioner, has reasons to believe that, — (a) a taxable person has suppressed any… Read More »

Section 66 Kerala GST Ordinance 2017 : Special audit

By | September 26, 2017

Section 66 Kerala GST Ordinance 2017 [ Section 66 Kerala GST Ordinance 2017 explains Special audit and is covered in CHAPTER XIII Audit by tax authorities] Special audit 66. (1) If at any stage of scrutiny, inquiry, investigation or any other proceedings before him, any officer not below the rank of Assistant Commissioner, having regard to the nature and… Read More »

Section 65 Kerala GST Ordinance 2017 : Audit by tax authorities

By | September 26, 2017

Section 65 Kerala GST Ordinance 2017 [ Section 65 Kerala GST Ordinance 2017 explains Audit by tax authorities  and is covered in CHAPTER XIII Audit by tax authorities] Audit by tax authorities 65. (1) The Commissioner or any officer authorised by him, by way of a general or a specific order, may undertake audit of any registered person for… Read More »

Section 64 Kerala GST Ordinance 2017 : Summary assessment in certain special cases

By | September 26, 2017

Section 64 Kerala GST Ordinance 2017 [ Section 64 Kerala GST Ordinance 2017 explains Summary assessment in certain special cases  and is covered in CHAPTER XII ASSESSMENT ] Summary assessment in certain special cases 64. (1) The proper officer may, on any evidence showing a tax liability of a person coming to his notice, with the previous permission of Additional… Read More »

Section 63 Kerala GST Ordinance 2017 : Assessment of unregistered persons

By | September 26, 2017

Section 63 Kerala GST Ordinance 2017 [ Section 63 Kerala GST Ordinance 2017 explains Assessment of unregistered persons and is covered in CHAPTER XII ASSESSMENT ] Assessment of unregistered persons 63. Notwithstanding anything to the contrary contained in section 73 or section 74, where a taxable person fails to obtain registration even though liable to do so or whose registration… Read More »

Section 62 Kerala GST Ordinance 2017 : Assessment of non-filers of returns

By | September 26, 2017

Section 62 Kerala GST Ordinance 2017 [ Section 62 Kerala GST Ordinance 2017 explains Assessment of non-filers of returns and is covered in CHAPTER XII ASSESSMENT ] Assessment of non-filers of returns 62. (1) Notwithstanding anything to the contrary contained in section 73 or section 74, where a registered person fails to furnish the return under section 39 or section… Read More »

Section 61 Kerala GST Ordinance 2017 : Scrutiny of returns

By | September 26, 2017

Section 61 Kerala GST Ordinance 2017 [ Section 61 Kerala GST Ordinance 2017 explains Scrutiny of returns and is covered in CHAPTER XII ASSESSMENT ] Scrutiny of returns 61. (1) The proper officer may scrutinize the return and related particulars furnished by the registered person to verify the correctness of the return and inform him of the discrepancies noticed, if… Read More »

Section 60 Kerala GST Ordinance 2017 : Provisional assessment

By | September 26, 2017

Section 60 Kerala GST Ordinance 2017 [ Section 60 Kerala GST Ordinance 2017 explains Provisional assessment and is covered in CHAPTER XII ASSESSMENT ] Provisional assessment 60. (1) Subject to the provisions of sub-section (2), where the taxable person is unable to determine the value of goods or services or both or determine the rate of tax applicable thereto, he… Read More »

Section 59 Kerala GST Ordinance 2017 : Self-assessment

By | September 26, 2017

Section 59 Kerala GST Ordinance 2017 [ Section 59 Kerala GST Ordinance 2017 explains Self-assessment and is covered in CHAPTER XII ASSESSMENT ] Self-assessment 59. Every registered person shall self-assess the taxes payable under this Ordinance and furnish a return for each tax period as specified under section 39. Kerala GST Ordinance 2017 Kerala GST Rules 2017 Kerala GST Notifications… Read More »

Section 58 Kerala GST Ordinance 2017 : Utilisation of Fund

By | September 26, 2017

Section 58 Kerala GST Ordinance 2017 [ Section 58 Kerala GST Ordinance 2017 explains Utilisation of Fund and is covered in CHAPTER XI REFUNDS ] Utilisation of Fund 58. (1) All sums credited to the Fund shall be utilised by the Government for the welfare of the consumers in such manner as may be prescribed. (2) The Government or the… Read More »

Section 57 Kerala GST Ordinance 2017 : Consumer Welfare Fund

By | September 26, 2017

Section 57 Kerala GST Ordinance 2017 [ Section 57 Kerala GST Ordinance 2017 explains Consumer Welfare Fund and is covered in CHAPTER XI REFUNDS ] Consumer Welfare Fund 57. The Government shall constitute a Fund, to be called the Consumer Welfare Fund and there shall be credited to the Fund, — (a) the amount referred to in sub-section (5) of… Read More »

Section 56 Kerala GST Ordinance 2017 : Interest on delayed refunds

By | September 26, 2017

Section 56 Kerala GST Ordinance 2017 [ Section 56 Kerala GST Ordinance 2017 explains Interest on delayed refunds and is covered in CHAPTER XI REFUNDS ] Interest on delayed refunds 56. If any tax ordered to be refunded under sub-section (5) of section 54 to any applicant is not refunded within sixty days from the date of receipt of application… Read More »

Guide to Ind AS under MAT – Taxmann Book September 2017

By | September 26, 2017

Guide to Ind AS under MAT by CA Santosh Maller (Author, Contributor) Description MAT treatment for Ind AS adjustments and first-time adoption options (As per Finance Act, 2017) Requirements under Ind AS and consequential MAT calculation with 110 examples and illustrations with journal entries and MAT calculation tables covering latest CBDT circulars and announcements and author’s practical… Read More »

Topic wise Commentary on GST Act of India

By | September 26, 2017

Topic wise Commentary on GST Act of India Here we have compiled topic wise commentary on CGST Act 2017 , IGST Act 2017  and UTGST Act 2017 of India and SGST Acts   Topic Link GST Rates GST Rates Schedule   How to Search HSN / SAC GST Tax Rates   HSN code Wise GST Rates on Goods : CGST ,… Read More »

Category: GST

Check Identities of Income Tax Search Officers : Govt of India Mobile No

By | September 26, 2017

Tax Payers Advised To Confirm Identities Of Income Tax Search Authorities The Income Tax Department in the Delhi region regularly conducts search/survey/verification exercises in case of suspected tax evaders to uncover concealment of undisclosed income/assets as per the law. However, instances have been brought to the notice of department wherein, certain unscrupulous elements have conducted… Read More »

Draft Rules for reporting estimated Advance Income Tax Liability : CBDT

By | September 26, 2017

F.No.370142/27/2017-TPL Government of India Ministry of Finance Department of Revenue (Central Board of Direct Taxes) New Delhi, September 19, 2017 Sub: Draft Notification for insertion of new rule 39A in the Income-tax Rules, 1962– comments and suggestions-reg. It is proposed to create a mechanism for self-reporting of estimates of current income, tax payments and advance… Read More »