Monthly Archives: January 2018

Search under GST : Basic requirements to be observed during Search operations

By | January 16, 2018

What are the basic requirements to be observed during Search operations under GST? Ans. The following principles should be observed during  Search: No search of premises should be carried out without a valid search warrant issued by the proper officer. There should invariably be a lady officer accompanying the search team to residence. The officers… Read More »

Penalty if GST Collected but not paid to Govt

By | January 16, 2018

What happens if a person collects tax from another person but does not deposit the same with Government? Ans. It is mandatory to pay amount, collected from other person representing tax under this act, to the government. For any such amount not so paid, proper officer may issue SCN (show Cause Notice)  for recovery of… Read More »

Can refund be withheld by the GST department?

By | January 16, 2018

Can refund be withheld by the GST department? Yes, the proper officer can withhold refund of accumulated ITC under Section 54(3)  in the following circumstances: i. If the person has failed to furnish any return till he files such return; ii. If the registered taxable person is required to pay any tax, interest or penalty… Read More »

E-way bill drafted by Govt. take proper care of interest of revenue: Madras HC

By | January 16, 2018

HIGH COURT OF MADRAS K.K. Ramesh v. Union of India M. SATHYANARAYANAN AND MRS. R. HEMALATHA, JJ. W.P. (MD) NO. 16112 OF 2017 JANUARY  3, 2018 K.K. Ramesh for the Petitioner. Ms. S. Logeshwari for the Respondent. ORDER M. Sathyanarayanan, J. – By consent, the Writ Petition itself is taken up for final disposal. 2. The petitioner seems to have been aggrieved by… Read More »

December 2017 issue of e-newsletter on GST by ICAI Indirect Tax Committee

By | January 15, 2018

The Indirect Taxes Committee of ICAI committed has come up with the December issue of e-newsletter on GST in order to serve all the stakeholders with the latest developments under GST. This well sourced newsletter contains latest GST updates & news, relevant articles on important issues under GST, ICAI’s initiatives and much more. E-newsletter can be downloaded… Read More »

Category: GST

GST Audit : Can the Taxpayer see Audit Report

By | January 15, 2018

What would be the action by the proper officer upon conclusion of the audit under GST? Audit by Department The proper officer shall, on conclusion of audit, within 30 days inform the taxable person about his findings, reasons for findings and the taxable person’s rights and obligations in respect of such findings. [ Section 65(6)… Read More »

GST Input Tax Credit Refund if Business is closed

By | January 15, 2018

An assessee doing business from 2 years. He closed his business in dec-17. Is he eligible to claim refund of ITC Balance in Electronic Credit Ledger? Section 54 (3) of CGST Act : Provided that no refund of unutilised input tax credit shall be allowed in cases other than— (i) zero-rated supplies made without payment of tax;… Read More »

Category: GST

GSTR 4 for Oct-Dec 2017 enabled on GST portal

By | January 15, 2018

Composition Scheme Return : GSTR 4 Functionality to save, submit, and file Form GSTR 4, for Oct-Dec, 2017 quarter, has been enabled on GST Portal (ww.Gst.gov.in) 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 »

Category: GST

GST Portal Complaint : Taxpayers can lodge grievance

By | January 15, 2018

Taxpayers have now being provided with a facility to lodge grievance related to processes (application), ledgers etc on the GST Portal. www.gst.gov.in   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… Read More »

Category: GST

GST levy on rental income of Charitable entity

By | January 15, 2018

 If Charitable religious entity ( registered under Section 12AA of Income Tax act  ) Receive rental income from building not situated within premises. Will it be liable for GST ? There is NIL GST on the following Services by a person by way of— (b) renting of precincts of a religious place meant for general public,… Read More »

GST on Scrap generated during Job Work

By | January 14, 2018

A Registered  dealer sent some goods for processing to a job worker. The realizable waste was generated at the time of processing. The waste were sold by the job worker. Who is liable to prepare invoice, a dealer or a job worker? Is dealer permitted to allow job worker to sell the waste and prepare… Read More »

GST Registration Limit if renting of Immovable property in Special Category States

By | January 14, 2018

GST Registration Limit for renting of Immovable property in Special Category States If a person providing renting service is located in kanpur city Uttar Pradesh and the property suited in Nanital  (Uttarakhand  ) and is given on rent to the person located in Nanital (Uttarakhand). The rent amount is Rs1440000 annually. whether he should take… Read More »

Category: GST

GST ITC on Demurrage charges

By | January 14, 2018

GST ITC on Demurrage charges Can we avail credit of GST paid on Demurrage Charges (paid to Railways for Outward Transportation of Goods)? In Question 1 What will be the situation if we are recovering such demurrage charges(including GST) from parties? Section 16. (1) of CGST Act 2017 :  Every registered person shall, subject to such… Read More »

Category: GST

Statutory GST Audit

By | January 13, 2018

Statutory GST Audit Like under VAT regime, is there any statutory GST audit by a Chartered Accountant compulsory for all assesses and what are the provisions for it ?  Annual return with reconciliation statement  has to be certified by CA (Chartered Accountant) / cost accountant if turnover exceeds Rs two croes and has to be… Read More »

Category: GST

GST on Security Service by Govt to Govt Authority

By | January 13, 2018

The Central Government provides Security service to a government authority, whether such services shall be taxable  under  GST ? There is NIL GST on Following Services :- Services by the Central Government, State Government, Union territory or local authority excluding the following services— (a) services by the Department of Posts by way of speed post, express… Read More »

GST ITC on Repair of Building

By | January 13, 2018

Can a company can take/avail credit on repairs of building which is in the nature of work contract. Account Head debited in its Profit and Loss book is Building Repair ? Section 17 (5) of CGST Act 2017  ….. , input tax credit shall not be available in respect of the following, namely: …. (d) goods… Read More »

GST ITC on Train Ticket

By | January 13, 2018

Can a company can take ITC (Input Tax Credit) on IRCTC tickets when the company is sending its employees to official tour purpose ? Section 16. (1) of CGST Act 2017 :  Every registered person shall, subject to such conditions and restric- tions as may be prescribed and in the manner specified in section 49, be… Read More »

How to Generate e way Bill

By | January 13, 2018

How to Generate e way Bill After the recent notification of Implementation of E-waybill System from 1st feb 2018 ( and mandatory to all states from June), E-waybill can be generated from the New Portal. http://ewaybill.nic.in How to Generate on E-Way Bill Portal? First:  You have to register if You haven’t registered yet with your GST… Read More »

Category: GST

GST on Car Sale and Car Repair Services

By | January 12, 2018

We are authorised CAR dealer and our showroom is located in Surat, [Gujarat]. We sale car and provide car repair service. Our customers belong to Daman & Silvassa (Daman & Silvassa are Union Territories). 1.Place of Supply for Sale of Car if customer address is of Daman & Silvassa ? 2.Place of Supply for Repairs… Read More »

Can a Regular employee signed GST Tax Invoice.

By | January 12, 2018

Can a Regular employee signed the Tax Invoice. If the same person not authorized under GST Registration form ? Rule 46 of CGST Rules ……a tax invoice referred to in section 31 shall be issued by the registered person containing the following particulars, namely,— …… (q) signature or digital signature of the supplier or his authorised… Read More »

PWC and related firms bared from audit of listed companies for 2 years : SEBI

By | January 12, 2018

SEBI bars Price Waterhouse and related firms from audit of listed companies,  compliance of obligations of such cos. and intermediaries  Securities and Exchange Board of India (SEBI) on the basis of email received in 2009 from from Mr. B. Ramalinga Raju, had carried out an investigation into the affairs of Satyam Computer Services Limited (‘SCSL’).… Read More »

e-TDS/TCS RPU version 2.2 for TDS returns

By | January 12, 2018

e-TDS/TCS RPU version 2.2 for TDS returns released by NSDL The New e-TDS/TCS Return Preparation Utility Ver. 2.2 released by NSDL today for Regular & Correction quarterly e-TDS/TCS statements is applicable from FY 2007-08 Guidelines for usage of these RPUs are provided in the respective utilities. The users are advised to read these guidelines carefully before the… Read More »

[Video] GST News 12.01.2018 by CA Satbir Singh ! TaxHeal.com

By | January 12, 2018

GST News 12.01.2018 by CA Satbir Singh ! TaxHeal.com 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… Read More »

Benami Properties of more than Rs. 3,500 crore attached by income Tax Department

By | January 11, 2018

Ministry of Finance Income Tax Department steps-up actions under Prohibition of Benami Property Transactions Act : Benami properties of more than Rs. 3,500 crore in more than 900 cases attached Posted On: 11 JAN 2018 12:54PM by PIB Delhi Due to intensive efforts undertaken by the Income Tax Department, provisional attachment has been made in… Read More »

FAQ’s and MCQ’s on GST Released by ICAI Indirect Tax Committee (January 2018)

By | January 11, 2018

FAQ’s and MCQ’s on GST (January, 2018) GST, a single biggest tax reform in the history of India is a destination based tax pervasively impacting ever sphere of business like supply chain, IT system, accounting, cash flow, credits, product pricing, compliances, legal contact etc. Hassle free implementation of GST calls for endeavors from both the… Read More »

USA IRS : Steps to help people protect their data from thieves

By | January 11, 2018

Steps to help people protect their data from thieves Taxpayers can follow a few simple to protect your personal and financial data online and at home steps. Criminals continue to steal large amounts of personal data of taxpayers and tax preparers. Thieves use this information to file fraudulent tax returns or commit other crimes to impersonate victims. All taxpayers… Read More »

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

By | January 11, 2018

Schedule I of Mizoram GST Act 2017 ( Schedule I of  Mizoram GST Act 2017 explains Activities to be treated as supply even if made without consideration ) SCHEDULE I [See section 7] 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… Read More »

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

By | January 11, 2018

Schedule III of Mizoram GST Act 2017 ( Schedule III of Mizoram 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] ACTIVITIES OR TRANSACTIONS WHICH SHALL BE TREATED NEITHER AS A SUPPLY OF GOODS NOR A SUPPLY OF SERVICES 1.… Read More »