Daily Archives: January 11, 2018

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 »

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

By | January 11, 2018

Schedule II of Mizoram GST Act 2017 ( Schedule II of  Mizoram GST Act 2017 explains Activities to be treated as supply of goods or supply of services ) SCHEDULE II [See section 7] 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… Read More »

Section 174 of Mizoram GST Act 2017 : Repeal and saving

By | January 11, 2018

Section 174 of Mizoram GST Act 2017 ( Section 174 of  Mizoram GST Act 2017 explains Repeal and saving and is covered in Chapter XXI : MISCELLANEOUS Repeal and saving 174. (1) Save as otherwise provided in this Act, on and from the date of commencement of this Act, (i) The Mizoram (Sales of Petroleum and Petroleum Products, including Motor Spirit… Read More »

Section 173 of Mizoram GST Act 2017 : Amendment of certain Acts

By | January 11, 2018

Section 173 of Mizoram GST Act 2017 ( Section 173 of  Mizoram GST Act 2017 explains Amendment of certain Acts and is covered in Chapter XXI : MISCELLANEOUS Amendment of certain Acts 173. Save as otherwise provided in this Act, on and front the date of commencement of this Act,- Omissions, substitutions and insertions in the Acts to be… Read More »

Section 172 of Mizoram GST Act 2017 : Removal of difficulties

By | January 11, 2018

Section 172 of Mizoram GST Act 2017 ( Section 172 of  Mizoram GST Act 2017 explains Removal of difficulties and is covered in Chapter XXI : MISCELLANEOUS Removal of difficulties 172. (1) If any difficulty arises in giving effect to any provisions of this Act, the Government may, on the recommendations of the Council, by a general or a… Read More »

Section 171 of Mizoram GST Act 2017 : Anti-profiteering Measure

By | January 11, 2018

Section 171 of Mizoram GST Act 2017 ( Section 171 of  Mizoram GST Act 2017 explains Anti-profiteering Measure and is covered in Chapter XXI : MISCELLANEOUS Anti-profiteering Measure 171. (1) Any reduction in rate of tax on any supply of goods or services or the benefit of input tax credit shall be passed on to the recipient by way… Read More »

Section 169 of Mizoram GST Act 2017 : Service of notice in certain circumstances

By | January 11, 2018

Section 169 of Mizoram GST Act 2017 ( Section 169 of  Mizoram GST Act 2017 explains Service of notice in certain circumstances and is covered in Chapter XXI : MISCELLANEOUS ) Service of notice in certain circumstances 169. (1) Any decision, order, summons, notice or other communication under this Act or the rules made thereunder shall be served by… Read More »

Section 168 of Mizoram GST Act 2017 : Power to issue instructions or directions

By | January 11, 2018

Section 168 of Mizoram GST Act 2017 ( Section 168 of  Mizoram GST Act 2017 explains Power to issue instructions or directions and is covered in Chapter XXI : MISCELLANEOUS Power to issue instructions or directions 168. The Commissioner may, if he considers it necessary or expedient so to do for the purpose of uniformity in the implementation of this Act,… Read More »

Section 167 of Mizoram GST Act 2017 : Delegation of powers

By | January 11, 2018

Section 167 of Mizoram GST Act 2017 ( Section 167 of  Mizoram GST Act 2017 explains  Delegation of powers and is covered in Chapter XXI : MISCELLANEOUS  Delegation of powers 167. The Commissioner may, by notification, direct that subject to such conditions, if any, as may be specified in the notification, any power exercisable by any authority or officer… Read More »

Section 165 of Mizoram GST Act 2017 : Power to make regulations

By | January 11, 2018

Section 165 of Mizoram GST Act 2017 ( Section 165 of  Mizoram GST Act 2017 explains Power to make regulations and is covered in Chapter XXI : MISCELLANEOUS  Power to make regulations 165. The Government may, by notification, make regulations consistent with this Act and the rules made thereunder to carry out the provisions of this Act. Mizoram GST Act 2017… Read More »

Section 166 of Mizoram GST Act 2017 : Laying of rules, regulations and notifications

By | January 11, 2018

Section 166 of Mizoram GST Act 2017 ( Section 166 of  Mizoram GST Act 2017 explains Laying of rules, regulations and notifications and is covered in Chapter XXI : MISCELLANEOUS  Laying of rules, regulations and notifications 166. Every rule made by the Government, everyregulation made by the Government and every notification issued by the Government under this Act, shall be laid,… Read More »

Section 164 of Mizoram GST Act 2017 : Power of Government to make rules

By | January 11, 2018

Section 164 of Mizoram GST Act 2017 ( Section 164 of  Mizoram GST Act 2017 explains Power of Government to make rules and is covered in Chapter XXI : MISCELLANEOUS  Power of Government to make rules 164. (1) The Government may, on the recommendations of the Council, by notification, make rules for carrying out the provisions of this Act.… Read More »

Section 162 of Mizoram GST Act 2017 : Bar on jurisdiction of civil courts

By | January 11, 2018

Section 162 of Mizoram GST Act 2017 ( Section 162 of  Mizoram GST Act 2017 explains Bar on jurisdiction of civil courts and is covered in Chapter XXI : MISCELLANEOUS Bar on jurisdiction of civil courts 162. Save as provided in sections 117 and 118, no civil court shall have jurisdiction to deal with or decide any question arising… Read More »

Section 161 of Mizoram GST Act 2017 : Rectification of errors apparent on the face of record

By | January 11, 2018

Section 161 of Mizoram GST Act 2017 ( Section 161 of  Mizoram GST Act 2017 explains Rectification of errors apparent on the face of record and is covered in Chapter XXI : MISCELLANEOUS Rectification of errors apparent on the face of record 161. Without prejudice to the provisions of section 160, and notwithstanding anything contained in any other provisions… Read More »

Section 160 of Mizoram GST Act 2017 : Assessment proceedings, etc. not to be invalid on certain grounds

By | January 11, 2018

Section 160 of Mizoram GST Act 2017 ( Section 160 of  Mizoram GST Act 2017 explains Assessment proceedings, etc. not to be invalid on certain grounds and is covered in Chapter XXI : MISCELLANEOUS Assessment proceedings, etc. not to be invalid on certain grounds 160. (1) No assessment, re-assessment, adjudication, review, revision, appeal, rectification, notice, summons or other proceedings… Read More »

Section 159 of Mizoram GST Act 2017 : Publication of information in respect of persons in certain cases

By | January 11, 2018

Section 159 of Mizoram GST Act 2017 ( Section 159 of  Mizoram GST Act 2017 explains Publication of information in respect of persons in certain cases and is covered in Chapter XXI : MISCELLANEOUS Publication of information in respect of persons in certain cases 159. (1) If the Commissioner, or any other officer authorised by him in this behalf,… Read More »

Section 158 of Mizoram GST Act 2017 : Disclosure of information by a public servant

By | January 11, 2018

Section 158 of Mizoram GST Act 2017 ( Section 158 of  Mizoram GST Act 2017 explains Disclosure of information by a public servant and is covered in Chapter XXI : MISCELLANEOUS Disclosure of information by a public servant 158. (1) All particulars contained in any statement made, return furnished or accounts or documents produced in accordance with this Act,… Read More »

Section 157 of Mizoram GST Act 2017 : Protection of action taken under this Act

By | January 11, 2018

Section 157 of Mizoram GST Act 2017 ( Section 157 of  Mizoram GST Act 2017 explains Protection of action taken under this Act and is covered in Chapter XXI : MISCELLANEOUS Protection of action taken under this Act 157. (1) No suit, prosecution or other legal proceedings shall lie against the President, State President, Members, officers or other employees… Read More »

Section 156 of Mizoram GST Act 2017 : Persons deemed to be public servants

By | January 11, 2018

Section 156 of Mizoram GST Act 2017 ( Section 156 of  Mizoram GST Act 2017 explains Persons deemed to be public servants and is covered in Chapter XXI : MISCELLANEOUS Persons deemed to be public servants 156. All persons discharging functions under this Act shall be deemed to be public servants within the meaning of section 21 of the… Read More »

Section 154 of Mizoram GST Act 2017 : Power to take samples

By | January 11, 2018

Section 154 of Mizoram GST Act 2017 ( Section 154 of  Mizoram GST Act 2017 explains Power to take samples and is covered in Chapter XXI : MISCELLANEOUS Power to take samples 154. The Commissioner or an officer authorised by him may take samples of goods from the possession of any taxable person, where he considers it necessary, and… Read More »

Section 153 of Mizoram GST Act 2017 : Taking assistance from an expert

By | January 11, 2018

Section 153 of Mizoram GST Act 2017 ( Section 153 of  Mizoram GST Act 2017 explains Taking assistance from an expert and is covered in Chapter XXI : MISCELLANEOUS Taking assistance from an expert 153. Any officer not below the rank of Assistant Commissioner may, having regard to the nature and complexity of the case and the interest of… Read More »

Section 152 of Mizoram GST Act 2017 : Bar on disclosure of information

By | January 11, 2018

Section 152 of Mizoram GST Act 2017 ( Section 152 of  Mizoram GST Act 2017 explains Bar on disclosure of information and is covered in Chapter XXI : MISCELLANEOUS Bar on disclosure of information 152 . (1) No information of any individual return or part thereof with respect to any matter given for the purposes of section 150 or… Read More »

Section 151 of Mizoram GST Act 2017 : Power to collect statistics

By | January 11, 2018

Section 151 of Mizoram GST Act 2017 ( Section 151 of  Mizoram GST Act 2017 explains Power to collect statistics and is covered in Chapter XXI : MISCELLANEOUS Power to collect statistics 151 . (1) The Commissioner may, if he considers that it is necessary so to do, by notification, direct that statistics may be collected relating to any… Read More »

Section 150 of Mizoram GST Act 2017 : Obligation to furnish information return

By | January 11, 2018

Section 150 of Mizoram GST Act 2017 ( Section 150 of  Mizoram GST Act 2017 explains Obligation to furnish information return and is covered in Chapter XXI : MISCELLANEOUS) Obligation to furnish information return 150. (1) Any person, being— (a) a taxable person; or (b) a local authority or other public body or association; or (c) any authority of… Read More »

Section 149 of Mizoram GST Act 2017 : Goods and services tax compliance rating

By | January 11, 2018

Section 149 of Mizoram GST Act 2017 ( Section 149 of  Mizoram GST Act 2017 explains Goods and services tax compliance rating and is covered in Chapter XXI : MISCELLANEOUS Goods and services tax compliance rating 149. (1) Every registered person may be assigned a goods and services tax compliance rating score by the Government based on his record… Read More »

Section 148 of Mizoram GST Act 2017 : Special procedure for certain processes

By | January 11, 2018

Section 148 of Mizoram GST Act 2017 ( Section 148 of  Mizoram GST Act 2017 explains Special procedure for certain processes and is covered in Chapter XXI : MISCELLANEOUS Special procedure for certain processes 148. The Government may, on the recommendations of the Council, and subject to such conditions and safeguards as may be prescribed, notify certain classes of… Read More »

Section 147 of Mizoram GST Act 2017 : Deemed Exports

By | January 11, 2018

Section 147 of Mizoram GST Act 2017 ( Section 147 of  Mizoram GST Act 2017 explains Deemed Exports and is covered in Chapter XXI : MISCELLANEOUS Deemed Exports 147. The Government may, on the recommendations of the Council, notify certain supplies of goods as “deemed exports”, where goods supplied do not leave India, and payment for such supplies is… Read More »

Section 146 of Mizoram GST Act 2017 : Common Portal

By | January 11, 2018

Section 146 of Mizoram GST Act 2017 ( Section 146 of  Mizoram GST Act 2017 explains Common Portal and is covered in Chapter XXI : MISCELLANEOUS Common Portal 146. The Government may, on the recommendations of the Council, notify the Common Goods and Services Tax Electronic Portal for facilitating registration, payment of tax, furnishing of returns, computation and settlement… Read More »

Section 145 of Mizoram GST Act 2017 : Admissibility of micro films, facsimile copies of documents and computer printouts as documents and as evidence

By | January 11, 2018

Section 145 of Mizoram GST Act 2017 ( Section 145 of  Mizoram GST Act 2017 explains Admissibility of micro films, facsimile copies of documents and computer printouts as documents and as evidence and is covered in Chapter XXI : MISCELLANEOUS Admissibility of micro films, facsimile copies of documents and computer printouts as documents and as evidence 145. (1) Notwithstanding… Read More »

Section 144 of Mizoram GST Act 2017 : Presumption as to documents in certain cases

By | January 11, 2018

Section 144 of Mizoram GST Act 2017 ( Section 144 of  Mizoram GST Act 2017 explains Presumption as to documents in certain cases and is covered in Chapter XXI : MISCELLANEOUS Presumption as to documents in certain cases 144. Where any document- (i) is produced by any person under this Act or any other law for the time being… Read More »

Section 143 of Mizoram GST Act 2017 : Job work procedure

By | January 11, 2018

Section 143 of Mizoram GST Act 2017 ( Section 143 of  Mizoram GST Act 2017 explains Job work procedure and is covered in Chapter XXI : MISCELLANEOUS Job work procedure 143. (1) A registered person (hereafter in this section referred to as the “principal”) may, under intimation and subject to such conditions as may be prescribed, send any inputs… Read More »

Section 142 of Mizoram GST Act 2017 : Miscellaneous transitional provisions

By | January 11, 2018

Section 142 of Mizoram GST Act 2017 ( Section 142 of  Mizoram GST Act 2017 explains Miscellaneous transitional provisions and is covered in Chapter XX : TRANSITIONAL PROVISIONS ) Miscellaneous transitional provisions 142. (1) Where any goods on which tax, if any, had been paid under the existing law at the time of sale thereof, not being earlier than six months prior to the… Read More »

Section 141 of Mizoram GST Act 2017 : Transitional provisions relating to job work

By | January 11, 2018

Section 141 of Mizoram GST Act 2017 ( Section 141 of  Mizoram GST Act 2017 explains Transitional provisions relating to job work and is covered in Chapter XX : TRANSITIONAL PROVISIONS ) Transitional provisions relating to job work 141. (1) Where any inputs received at a place of business had been despatched as such or despatched after being partially processed to a job worker for further… Read More »

Section 140 of Mizoram GST Act 2017 : Transitional arrangements for input tax credit

By | January 11, 2018

Section 140 of Mizoram GST Act 2017 ( Section 140 of  Mizoram GST Act 2017 explains Transitional arrangements for input tax credit and is covered in Chapter XX : TRANSITIONAL PROVISIONS ) Transitional arrangements for input tax credit 140. (1) A registered person, other than a person opting to pay tax under section 10, shall be entitled to take, in… Read More »

Section 139 of Mizoram GST Act 2017 : Migration of existing taxpayers

By | January 11, 2018

Section 139 of Mizoram GST Act 2017 ( Section 139 of  Mizoram GST Act 2017 explains Migration of existing taxpayers and is covered in Chapter XX : TRANSITIONAL PROVISIONS ) Migration of existing taxpayers 139. (1) On and from the appointed day, every person registered under any of the existing laws and having a valid Permanent Account Number shall be… Read More »

Section 138 of Mizoram GST Act 2017 : Compounding of offences

By | January 11, 2018

Section 138 of Mizoram GST Act 2017 ( Section 138 of  Mizoram GST Act 2017 explains Compounding of offences and is covered in Chapter XIX : OFFENCES AND PENALTIES ) Compounding of offences 138. (1) Any offence under this Act may, either before or after the institution of prosecution, be compounded by the Commissioner on payment, by the person accused… Read More »

Section 137 of Mizoram GST Act 2017 : Offences by Companies

By | January 11, 2018

Section 137 of Mizoram GST Act 2017 ( Section 137 of  Mizoram GST Act 2017 explains Offences by Companies and is covered in Chapter XIX : OFFENCES AND PENALTIES ) Offences by Companies 137. (1) Where an offence committed by a person under this Act is a company, every person who, at the time the offence was committed was in… Read More »

Section 136 of Mizoram GST Act 2017 : Relevancy of statements under certain circumstances

By | January 11, 2018

Section 136 of Mizoram GST Act 2017 ( Section 136 of  Mizoram GST Act 2017 explains Relevancy of statements under certain circumstances and is covered in Chapter XIX : OFFENCES AND PENALTIES ) Relevancy of statements under certain circumstances 136. A statement made and signed by a person on appearance in response to any summons issued under section 70 during… Read More »

Section 135 of Mizoram GST Act 2017 : Presumption of culpable mental state

By | January 11, 2018

Section 135 of Mizoram GST Act 2017 ( Section 135 of  Mizoram GST Act 2017 explains Presumption of culpable mental state and is covered in Chapter XIX : OFFENCES AND PENALTIES ) Presumption of culpable mental state 135. In any prosecution for an offence under this Act which requires a culpable mental state on the part of the accused, the… Read More »

Section 134 of Mizoram GST Act 2017 : Cognizance of offences

By | January 11, 2018

Section 134 of Mizoram GST Act 2017 ( Section 134 of  Mizoram GST Act 2017 explains Cognizance of offences and is covered in Chapter XIX : OFFENCES AND PENALTIES ) Cognizance of offences 134. No court shall take cognizance of any offence punishable under this Act or the rules made thereunder except with the previous sanction of the Commissioner, and… Read More »

Section 131 of Mizoram GST Act 2017 : Confiscation or penalty not to interfere with other punishments

By | January 11, 2018

Section 131 of Mizoram GST Act 2017 ( Section 131 of  Mizoram GST Act 2017 explains Confiscation or penalty not to interfere with other punishments and is covered in Chapter XIX : OFFENCES AND PENALTIES ) Confiscation or penalty not to interfere with other punishments 131. Without prejudice to the provisions contained in the Code of Criminal Procedure, 1973 (2… Read More »