Monthly Archives: November 2017

Moody’s upgrade Sovereign Credit Rating of India to Baa2 from Baa3 

By | November 17, 2017

Moody’s upgrade Sovereign Credit Rating of India to Baa2 from Baa3 Moody’s Investors Service (“Moody’s”) has upgraded the Government of India’s local and foreign currency issuer ratings to Baa2 from Baa3 and changed the outlook on the rating to stable from positive. India’s rating has been upgraded after a period of 13 years. India’s sovereign… Read More »

Category: GST

Instruction No. 10/2017 Income Tax : Processing of income-tax returns u/s 143(1)

By | November 16, 2017

Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes Instruction No. 10/2017 North Block, New Delhi, the 15th of November, 2017 Order under section 119 of the Income-tax Act, 1961 Subject :Processing of income-tax returns filed in Forms ITR-2, 3, 4, 5 & 6 under section 143(1) of the Income-tax… Read More »

SoP for issue of notice for inquiry of cash deposit during demonetisation : Income Tax department

By | November 16, 2017

F.No. 225/363/2017-ITA.II Government of India Ministry of Finance Department of Revenue (CBDT) North Block, N.Delhi, dated the 15th November, 2017 To All Principal Chief-Commissioners of Income-tax/All Principal Directors-General of Income-tax Sir/Madam, Subject: SoP for issue of notice u/s 142(1) of Income-tax Act in cases related to substantial cash deposit during the demonetisation period-regd.- On the basis… Read More »

Circular No 18/18/2017 GST  : Export of fabrics : Refund of unutilized input tax credit of GST paid on inputs

By | November 16, 2017

Circular No 18/18/2017 GST Dated 16.11.2017 Refund of unutilized input tax credit of GST paid on inputs in respect of exporters of fabrics. Download Circular in PDF Related Topic on GST  Topic Click Link GST Acts Central GST Act and States GST Acts GST Rules GST Rules  GST Forms GST Forms GST Rates GST Rates… Read More »

Exchange Rate of Foreign Currency w.e.f 17.11.2017

By | November 16, 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 No.103/2017-CUSTOMS (N.T.), dated 2ndNovember, 2017 except as respects things done or omitted to be done… Read More »

National Anti-profiteering Authority under GST of India approved by Govt

By | November 16, 2017

Cabinet approves the establishment of the National Anti-profiteering Authority under GST The Union Cabinet chaired by the Prime Minister Narendra Modi has given its approval for the creation of the posts of Chairman and Technical Members of the National Anti-profiteering Authority (NAA) under GST, following up immediately on yesterday’s sharp reduction in the GST rates… Read More »

IGST Rules 2017 Amended upto 15.11.2017

By | November 16, 2017

IGST Rules 2017 [ Refer IGST Rules 2017 w.e.f 22.06.2017 vide Notification No. 4/2017 – Integrated Tax Dated 28th June, 2017  under IGST Act 2017 and Amended vide Notification No. 12/2017-Integrated Tax dated 15.11.2017, and deemed to have come into force on 01.07.2017 ] Government of India Ministry of Finance Department of Revenue Central Board of Excise… Read More »

जीएसटी समाचार I GST News 16.11.2017 by TaxHeal

By | November 16, 2017

जीएसटी समाचार I GST News 16.11.2017 by TaxHeal Related Topic on GST  Topic Click Link GST Acts Central GST Act and States GST Acts GST Rules GST Rules  GST Forms GST Forms GST Rates GST Rates GST Notifications GST Act Notifications GST Circulars GST Circulars  GST Judgments GST Judgments GST Press Release GST Press Release… Read More »

Notification No 12/2017 Integrated Tax : IGST Amendment Rules 2017 : Apportionment of IGST for advertisement services

By | November 16, 2017

Notification No 12/2017 Integrated Tax Dated 15th November 2017 Apportionment of IGST with respect to advertisement services under section 12 (14) of the IGST Act, 2017. Related Topic on GST  Topic Click Link GST Acts Central GST Act and States GST Acts GST Rules GST Rules  GST Forms GST Forms GST Rates GST Rates GST… Read More »

Notification No 66/2017 Central Tax : No GST on Advance Payment for Goods

By | November 16, 2017

Notification No 66/2017 Central Tax Seeks to exempt all taxpayers from payment of tax on advances received in case of supply of goods vide Notification No 66/2017 Central Tax Dated 15th November, 2017 [To be published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i)] Government of India Ministry of Finance (Department of Revenue)… Read More »

Notification No 65/2017 Central Tax : Service through E Commerce : GST exemption

By | November 16, 2017

Notification No 65/2017 Central Tax Seeks to exempt suppliers of services through an e-commerce platform from obtaining compulsory registration vide Notification No 65/2017 Central Tax Dated 15th November, 2017 [To be published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i)] Government of India Ministry of Finance (Department of Revenue) [Central Board of Excise… Read More »

Notification No 64/2017 Central Tax : GSTR-3B late Fees : Maximum limit

By | November 16, 2017

Notification No 64/2017 Central Tax Seeks to limit the maximum late fee payable for delayed filing of return in FORM GSTR-3B from October, 2017 onwards vide Notification No 64/2017 Central Tax Dated 15th November, 2017 [To be published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i)] Government of India Ministry of Finance (Department… Read More »

Notification No 63/2017 Central Tax : FORM GST ITC 04 due date Extended

By | November 16, 2017

Notification No 63/2017 Central Tax Seeks to extend the due date for submission of details in FORM GST-ITC-04 vide Notification No 63/2017 Central Tax Dated 15th November, 2017 [To be published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i)] Government of India Ministry of Finance (Department of Revenue) [Central Board of Excise and… Read More »

Notification No 62/2017 Central Tax : July, 2017: GSTR 6 due date extended

By | November 16, 2017

Notification No 62/2017 Central Tax Seeks to extend the time limit for furnishing the return in FORM GSTR-6 for the month of July, 2017 vide Notification No 62/2017 Central Tax Dated 15th November, 2017 [To be published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i)] Government of India Ministry of Finance (Department of… Read More »

Notification No 61/2017 Central Tax : July to October 2017 : GSTR 5A due Date extended

By | November 16, 2017

Notification No 61/2017 Central Tax Seeks to extend the time limit for furnishing the return in FORM GSTR-5A for the months of July to October, 2017  vide Notification No 61/2017 Central Tax Dated 15th November, 2017 [To be published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i)] Government of India Ministry of Finance… Read More »

Notification No 60/2017 Central Tax : July to October 2017 :GSTR 5 due date extended for July to October, 2017

By | November 16, 2017

Notification No 60/2017 Central Tax Seeks to extend the time limit for furnishing the return in FORM GSTR-5, for the months of July to October, 2017 vide Notification No 60/2017 Central Tax Dated 15th November, 2017 [To be published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i)] Government of India Ministry of Finance… Read More »

Notification No 59/2017 Central Tax : GSTR 4 Due date Extended : July to Sept 2017

By | November 16, 2017

Notification No 59/2017 Central Tax Seeks to extend the time limit for filing of FORM GSTR-4  vide Notification No 59/2017 Central Tax Dated 15th November, 2017 [To be published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i)] Government of India Ministry of Finance (Department of Revenue) [Central Board of Excise and Customs] Notification… Read More »

Notification No 58/2017 Central Tax : GSTR 1 Due Date : Turnover more than Rs 1.5 crore

By | November 16, 2017

Notification No 58/2017 Central Tax Seeks to extend the due dates for the furnishing of FORM GSTR-1 for those taxpayers with aggregate turnover of more than Rs.1.5 crores vide Notification No 58/2017 Central Tax Dated 15th November, 2017 [To be published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i)] Government of India Ministry… Read More »

Notification No 57/2017 Central Tax : GSTR 1 due date from July to March 2018 : turnover less than Rs 1.5 crore

By | November 16, 2017

Notification No 57/2017 Central Tax Seeks to prescribe quarterly furnishing of FORM GSTR-1 for those taxpayers with aggregate turnover of upto Rs.1.5 crore vide Notification No 57/2017 Central Tax Dated 15th November, 2017 [To be published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i)] Government of India Ministry of Finance (Department of Revenue)… Read More »

GST on होटल और रेस्टोरेंट I from 15.11.2017 by TaxHeal

By | November 16, 2017

GST on होटल और रेस्टोरेंट I from 15.11.2017 by TaxHeal Related Topic on GST  Topic Click Link GST Acts Central GST Act and States GST Acts GST Rules GST Rules  GST Forms GST Forms GST Rates GST Rates GST Notifications GST Act Notifications GST Circulars GST Circulars  GST Judgments GST Judgments GST Press Release GST… Read More »

Notification No 56/2017 Central Tax : GSTR 3B due date for Jan 2018 to March 2018

By | November 16, 2017

Notification No 56/2017 Central Tax Seeks to mandate the furnishing of return in FORM GSTR-3B till March, 2018 [To be published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i)] Government of India Ministry of Finance (Department of Revenue) [Central Board of Excise and Customs] Notification No. 56/2017 – Central Tax New… Read More »

Notification No 55/2017  Central Tax : CGST (Twelfth Amendment) Rules 2017.

By | November 15, 2017

Notification No 55/2017  Central Tax Twelfth amendment to CGST Rules, 2017 with FORM GST RFD 01 [To be published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i)] Government of India Ministry of Finance (Department of Revenue) [Central Board of Excise and Customs] Notification No. 55/2017 – Central Tax New Delhi, the 15th… Read More »

Circular No 17/17/2017 GST : Refund of zero-rated supplies : Manual filing and processing

By | November 15, 2017

Circular No 17/17/2017  GST Manual filing and processing of refund claims in respect of zero-rated supplies . F. No. 349/169/2017-GST Government of India Ministry of Finance Department of Revenue Central Board of Excise and Customs GST Policy Wing New Delhi, Dated the 15th November, 2017 To, The Principal Chief Commissioners / Chief Commissioners / Principal… Read More »

Circular No 16/16/2017 GST : GST ITC for certain services : CBEC Issued Clarification on 15.11.2017

By | November 15, 2017

  Clarifications regarding applicability of GST and availability of ITC in respect of certain services. Circular No 16/16/2017 GST F. No. 354/173/2017-TRU Government of India Ministry of Finance Department of Revenue Tax research Unit North Block, New Delhi 15th November 2017 To, The Principal Chief Commissioners/ Chief Commissioners/ Principal Commissioners/ Commissioner of Central Tax (All)… Read More »

Order No 10/2017 GST : Revision of GST TRAN 1 Extended till 27.12.2017

By | November 15, 2017

Order No 10/2017 GST Seeks to extend the due date for revision of FORM GST TRAN-1 F. No. 349/58/2017-GST Government of India Ministry of Finance Department of Revenue Central Board of Excise and Customs New Delhi, the 15th November, 2017 Order No. 10/2017-GST Subject: Extension of time limit for submitting the declaration in FORM GST… Read More »

Order No 9/2017 GST : GST TRAN 1 Period extended till 27.12.2017

By | November 15, 2017

Order No 9/2017 GST F. No. 349/58/2017-GST Government of India Ministry of Finance Department of Revenue Central Board of Excise and Customs New Delhi, the 15th November, 2017 Order No. 9/2017-GST Subject: Extension of time limit for submitting the declaration in FORM GST TRAN-1 under rule 117 of the Central Goods and Service Tax Rules,… Read More »

GST News 15.11.2017 by TaxHeal

By | November 15, 2017

GST News 15.11.2017 by TaxHeal Related Topic on GST  Topic Click Link GST Acts Central GST Act and States GST Acts GST Rules GST Rules  GST Forms GST Forms GST Rates GST Rates GST Notifications GST Act Notifications GST Circulars GST Circulars  GST Judgments GST Judgments GST Press Release GST Press Release GST Books Best… Read More »

Notification No 47/2017 Union territory Tax (Rate) : UTGST exemption to protected monument

By | November 15, 2017

Notification No 47/2017 Union territory Tax (Rate) Seeks to amend notification No. 12/2017-UTT(R) so as to extend exemption to admission to “protected monument” and to consolidate entry at Sl. No. 11A & 11B. vide Notification No 47/2017 Union territory Tax (Rate) Dated 14th November, 2017 [TO BE PUBLISHED IN PART II, SECTION 3, SUB-SECTION (i) OF… Read More »

Notification No 46/2017 Union territory Tax (Rate) : UTGST Rate restaurants and job work on handicraft goods

By | November 15, 2017

Notification No 46/2017 Union territory Tax (Rate) Seeks to amend notification No. 11/2017-UTT(R) so as to specify rate @ 2.5% for standalone restaurants and @9% for other restaurants, reduce rate of job work on “handicraft goods” @ 2.5% and to substitute “Services provided” in item (vi) against Sl No. 3 in table vide Notification No… Read More »

Notification No 45/2017 Union territory Tax (Rate) : concessional GST rate to public funded research institutions

By | November 15, 2017

Notification No 45/2017 Union territory Tax (Rate) seeks to provide concessional GST rate of 2.5% on scientific and technical equipments supplied to public funded research institutions. vide Notification No 45/2017 Union territory Tax (Rate) Dated 14th November, 2017 [TO BE PUBLISHED IN PART II, SECTION 3, SUB-SECTION (i) OF THE GAZETTE OF INDIA, EXTRAORDINARY] GOVERNMENT OF… Read More »

Notification No 44/2017 Union territory Tax (Rate) : Restriction of ITC on certain fabrics.

By | November 15, 2017

Notification No 44/2017 Union territory Tax (Rate) seeks to amend notification no. 5/2017- Union Territory tax(rate) dated 28.06.2017 to give effect to gst council decisions regarding restriction of ITC on certain fabrics. vide Notification No 44/2017 Union territory Tax (Rate) Dated 14th November, 2017 [TO BE PUBLISHED IN PART II, SECTION 3, SUB-SECTION (i) OF THE… Read More »

Notification No 43/2017 Union territory Tax (Rate) : reverse charge on raw cotton

By | November 15, 2017

Notification No 43/2017 Union territory Tax (Rate) seeks to amend notification no. 4/2017- Union Territory tax(rate) dated 28.06.2017 to give effect to gst council decision regarding reverse charge on raw cotton. vide Notification No 43/2017 Union territory Tax (Rate) Dated 14th November, 2017 [TO BE PUBLISHED IN PART II, SECTION 3, SUB-SECTION (i) OF THE GAZETTE… Read More »

Notification No 42/2017 Union territory Tax (Rate) : Changes in UTGST Exemption

By | November 15, 2017

Notification No 42/2017 Union territory Tax (Rate) seeks to amend notification no. 2/2017- Union Territory tax(rate) dated 28.06.2017 to give effect to gst council decisions regarding gst exemptions vide Notification No 42/2017 Union territory Tax (Rate) Dated 14th November, 2017 [TO BE PUBLISHED IN PART II, SECTION 3, SUB-SECTION (i) OF THE GAZETTE OF INDIA, EXTRAORDINARY]… Read More »

Notification No 41/2017 Union territory Tax (Rate) : Changes in UTGST rate on goods

By | November 15, 2017

Notification No 41/2017 Union territory Tax (Rate) seeks to amend notification no. 1/2017- Union Territory tax(rate) dated 28.06.2017 to give effect to gst council decisions regarding gst rates. vide Notification No 41/2017 Union territory Tax (Rate) Dated 14th November, 2017 [TO BE PUBLISHED IN PART II, SECTION 3, SUB-SECTION (i) OF THE GAZETTE OF INDIA, EXTRAORDINARY]… Read More »

Notification No 50/2017 Integrated Tax (Rate) : IGST exemption to supply of Skimmed milk powder

By | November 15, 2017

Notification No 50/2017 Integrated Tax (Rate) Seeks to amend notification No. 30/2017-Integrated Tax (Rate) dated 22.09.2017, so as to extend the benefit of IGST exemption, applicable in relation to supply of Skimmed milk powder, or concentrated milk for use in the production of milk distributed through dairy co-operatives to the companies that are registered under… Read More »

Notification No 49/2017 Integrated Tax (Rate) : IGST exemption to protected monument

By | November 15, 2017

Notification No 49/2017 Integrated Tax (Rate) Seeks to amend notification No. 9/2017-IT(R) so as to extend exemption to admission to “protected monument” and to consolidate entry at Sl. No. 12A & 12B. vide Notification No 49/2017 Integrated Tax (Rate) Dated 14th November, 2017 [TO BE PUBLISHED IN PART II, SECTION 3, SUB-SECTION (i) OF THE GAZETTE… Read More »

Notification No 48/2017 Integrated Tax (Rate) : IGST rate restaurants & job work on handicraft goods

By | November 15, 2017

Notification No 48/2017 Integrated Tax (Rate) Seeks to amend notification No. 8/2017-IT(R) so as to specify rate @5% for standalone restaurants and @18% for other restaurants, reduce rate of job work on “handicraft goods” @ 5% and to substitute “Services provided” in item (vi) against Sl No. 3 in table  vide Notification No 48/2017 Integrated… Read More »

Notification No 47/2017 Integrated Tax (Rate) : Concessional IGST rate for public funded research institutions.

By | November 15, 2017

Notification No 47/2017 Integrated Tax (Rate) seeks to provide concessional GST rate of 5% on scientific and technical equipments supplied to public funded research institutions. vide Notification No 47/2017 Integrated Tax (Rate) Dated 14th November, 2017 [TO BE PUBLISHED IN PART II, SECTION 3, SUB-SECTION (i) OF THE GAZETTE OF INDIA, EXTRAORDINARY] GOVERNMENT OF INDIA MINISTRY… Read More »

Notification No 46/2017 Integrated Tax (Rate) : Restriction of ITC on certain fabrics

By | November 15, 2017

Notification No 46/2017 Integrated Tax (Rate) seeks to amend notification no. 5/2017- Integrated tax(rate) dated 28.06.2017 to give effect to gst council decisions regarding restriction of ITC on certain fabrics. vide Notification No 46/2017 Integrated Tax (Rate) Dated 14th November, 2017 [TO BE PUBLISHED IN PART II, SECTION 3, SUB-SECTION (i) OF THE GAZETTE OF INDIA,… Read More »

Notification No 45/2017 Integrated Tax (Rate) : Reverse charge on raw cotton

By | November 15, 2017

Notification No 45/2017 Integrated Tax (Rate) seeks to amend notification no. 4/2017- Integrated tax(rate) dated 28.06.2017 to give effect to gst council decision regarding reverse charge on raw cotton vide Notification No 45/2017 Integrated Tax (Rate) Dated 14th November, 2017 [TO BE PUBLISHED IN PART II, SECTION 3, SUB-SECTION (i) OF THE GAZETTE OF INDIA, EXTRAORDINARY]… Read More »

Notification No 44/2017 Integrated Tax (Rate) : Changes in IGST Exemption

By | November 15, 2017

Notification No 44/2017 Integrated Tax (Rate) seeks to amend notification no. 2/2017- Integrated tax(rate) dated 28.06.2017 to give effect to gst council decisions regarding gst exemptions vide Notification No 44/2017 Integrated Tax (Rate) Dated 14th November, 2017 [TO BE PUBLISHED IN PART II, SECTION 3, SUB-SECTION (i) OF THE GAZETTE OF INDIA, EXTRAORDINARY] GOVERNMENT OF INDIA… Read More »

Notification No 43/2017 Integrated Tax (Rate) : Changes in IGST rate on Goods

By | November 15, 2017

Notification No 43/2017 Integrated Tax (Rate) seeks to amend notification no. 1/2017- Integrated tax(rate) dated 28.06.2017 to give effect to gst council decisions regarding gst rates vide Notification No 43/2017 Integrated Tax (Rate) Dated 14th November, 2017 [TO BE PUBLISHED IN PART II, SECTION 3, SUB-SECTION (i) OF THE GAZETTE OF INDIA, EXTRAORDINARY] GOVERNMENT OF INDIA… Read More »

Notification No 47/2017 Central Tax (Rate) : CGST exemption to protected monument

By | November 15, 2017

Notification No 47/2017 Central Tax (Rate) Seeks to amend notification No. 12/2017-CT(R) so as to extend exemption to admission to “protected monument” and to consolidate entry at Sl. No. 11A & 11B. vide Notification No 47/2017 Central Tax (Rate) Dated 14th November, 2017 [TO BE PUBLISHED IN PART II, SECTION 3, SUB-SECTION (i) OF THE GAZETTE… Read More »

Notification No 46/2017 Central Tax (Rate) : CGST rate for restaurants , Job Work on handicraft goods

By | November 15, 2017

Notification No 46/2017 Central Tax (Rate) Seeks to amend notification No. 11/2017-CT(R) so as to specify rate @ 2.5% for standalone restaurants and @9% for other restaurants, reduce rate of job work on “handicraft goods” @ 2.5% and to substitute “Services provided” in item (vi) against Sl No. 3 in table. vide Notification No 46/2017… Read More »

Notification No 45/2017 Central Tax (Rate) : concessional GST for public funded research institutions 

By | November 15, 2017

Notification No 45/2017 Central Tax (Rate) seeks to provide concessional GST rate of 2.5% on scientific and technical equipments supplied to public funded research institutions  vide Notification No 45/2017 Central Tax (Rate) Dated 14th November, 2017 [TO BE PUBLISHED IN PART II, SECTION 3, SUB-SECTION (i) OF THE GAZETTE OF INDIA, EXTRAORDINARY] GOVERNMENT OF INDIA MINISTRY… Read More »

Notification No 44/2017 Central Tax (Rate) : restriction of ITC on certain fabrics

By | November 15, 2017

Notification No 44/2017 Central Tax (Rate) seeks to amend notification no. 5/2017- Central tax(rate) dated 28.06.2017 to give effect to gst council decisions regarding restriction of ITC on certain fabrics vide Notification No 44/2017 Central Tax (Rate) Dated 14th November, 2017 [TO BE PUBLISHED IN PART II, SECTION 3, SUB-SECTION (i) OF THE GAZETTE OF INDIA,… Read More »