Daily Archives: February 8, 2018

USA IRS : IRS clarifies some common myths tax season

By | February 8, 2018

IRS clarifies some common myths tax season IRS YouTube video: Do you claim the EITC and ACTC? Your refund may be delayed: Spanish IR-2018-20SP, February 7, 2018 WASHINGTON – With the tax season in full swing, the Internal Revenue Service today offered taxpayers some basic tips on taxes and reimbursements to clear up some common misconceptions. Myth 1:… Read More »

USA IRS : Taxpayers with Expired ITINs Should Renew Them Now to File Their 2017 Taxes

By | February 8, 2018

Taxpayers with Expired ITINs Should Renew Them Now to File Their 2017 Taxes Taxpayers with an expired Individual Taxpayer Identification Number should renew it as soon as possible if they need to file a 2017 tax return. They can renew it by submitting a Form W-7. Tax returns with expired ITINs will face delays. Affected taxpayers may… Read More »

USA IRS : Identity theft key indicators continue IRS dramatic decline in 2017; Security Summit highlights progress against identity theft

By | February 8, 2018

Identity theft key indicators continue IRS dramatic decline in 2017; Security Summit highlights progress against identity theft IR-2018-21SP, February 8, 2018 WASHINGTON – The Internal Revenue Service, IRS, announced today that in 2017 there were marked reductions in identity theft related to tax, attributing the success to the efforts of the Security Summit that help protect taxpayers in the… Read More »

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

By | February 8, 2018

Section 158 of Punjab GST Act 2017 ( Section 158 of Punjab 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 Punjab GST Act 2017 : Protection of action taken under this Act

By | February 8, 2018

Section 157 of Punjab GST Act 2017 ( Section 157 of Punjab 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 Punjab GST Act 2017 : Persons deemed to be public servants

By | February 8, 2018

Section 156 of Punjab GST Act 2017 ( Section 156 of Punjab 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 Punjab GST Act 2017 : Power to take samples

By | February 8, 2018

Section 154 of Punjab GST Act 2017 ( Section 154 of Punjab 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 Punjab GST Act 2017 : Taking assistance from an expert

By | February 8, 2018

Section 153 of Punjab GST Act 2017 ( Section 153 of Punjab 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 Punjab GST Act 2017 : Bar on disclosure of information

By | February 8, 2018

Section 152 of Punjab GST Act 2017 ( Section 152 of Punjab 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 section… Read More »

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

By | February 8, 2018

Section 151 of Punjab GST Act 2017 ( Section 151 of Punjab 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 matter… Read More »

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

By | February 8, 2018

Section 150 of Punjab GST Act 2017 ( Section 150 of Punjab 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 Punjab GST Act 2017 : Goods and services tax compliance rating

By | February 8, 2018

Section 149 of Punjab GST Act 2017 ( Section 149 of Punjab 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 Punjab GST Act 2017 : Special procedure for certain processes

By | February 8, 2018

Section 148 of Punjab GST Act 2017 ( Section 148 of Punjab 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 146 of Punjab GST Act 2017 : Common Portal

By | February 8, 2018

Section 146 of Punjab GST Act 2017 ( Section 146 of Punjab 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 Punjab GST Act 2017 : Admissibility of micro films, facsimile copies of documents and computer printouts as documents and as evidence

By | February 8, 2018

Section 145 of Punjab GST Act 2017 ( Section 145 of Punjab 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 Punjab GST Act 2017 : Presumption as to documents in certain cases

By | February 8, 2018

Section 144 of Punjab GST Act 2017 ( Section 144 of Punjab 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 Punjab GST Act 2017 : Job work procedure

By | February 8, 2018

Section 143 of Punjab GST Act 2017 ( Section 143 of Punjab 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 Punjab GST Act 2017 : Miscellaneous transitional provisions

By | February 8, 2018

Section 142 of Punjab GST Act 2017 ( Section 142 of Punjab 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… Read More »

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

By | February 8, 2018

Section 141 of Punjab GST Act 2017 ( Section 141 of Punjab 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… Read More »

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

By | February 8, 2018

Section 140 of Punjab GST Act 2017 ( Section 140 of Punjab 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 Punjab GST Act 2017 : Migration of existing tax payers

By | February 8, 2018

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

Section 138 of Punjab GST Act 2017 : Compounding of offences

By | February 8, 2018

Section 138 of Punjab GST Act 2017 ( Section 138 of Punjab 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 Punjab GST Act 2017 : Offences by Companies

By | February 8, 2018

Section 137 of Punjab GST Act 2017 ( Section 137 of Punjab 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 Punjab GST Act 2017 : Relevancy of statements under certain circumstances

By | February 8, 2018

Section 136 of Punjab GST Act 2017 ( Section 136 of Punjab 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 Punjab GST Act 2017 : Presumption of culpable mental state.

By | February 8, 2018

Section 135 of Punjab GST Act 2017 ( Section 135 of Punjab 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 Punjab GST Act 2017 : Cognizance of offences.

By | February 8, 2018

Section 134 of Punjab GST Act 2017 ( Section 134 of Punjab 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 133 of Punjab GST Act 2017 : Liability of officers and certain other persons.

By | February 8, 2018

Section 133 of Punjab GST Act 2017 ( Section 133 of Punjab GST Act 2017 explains Liability of officers and certain other persons and is covered in  CHAPTER XIX OFFENCES AND PENALTIES )  Liability of officers and certain other persons. 133. (1) Where any person engaged in connection with the collection of statistics under section 151 or compilation or… Read More »

Section 132 of Punjab GST Act 2017 : Punishment for certain offences.

By | February 8, 2018

Section 132 of Punjab GST Act 2017 ( Section 132 of Punjab GST Act 2017 explains Punishment for certain offences and is covered in  CHAPTER XIX OFFENCES AND PENALTIES )  Punishment for certain offences. 132. (1) Whoever commits any of the following offences, namely:— (a) supplies any goods or services or both without issue of any invoice, in violation… Read More »

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

By | February 8, 2018

Section 131 of Punjab GST Act 2017 ( Section 131 of Punjab 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 »

Concessional Rate of GST of 12% extended to construction of houses constructed/ acquired under the Credit Linked Subsidy Scheme for EWS, LIG, MIG sections

By | February 8, 2018

Ministry of Finance Recommendations made by the GST Council for the Housing Sector to promote Affordable Housing for the masses come into force; Concessional Rate of GST of 12% extended to construction of houses constructed/ acquired under the Credit Linked Subsidy Scheme for EWS, LIG, MIG sections Posted On: 07 FEB 2018 1:45PM by PIB… Read More »

GST on Services provided by the Resident Welfare Associations to members

By | February 8, 2018

Ministry of Finance GST Council recommends granting relief from GST on services provided by the Resident Welfare Associations (RWAs) to their Members Threshold Exemption Limit under GST for monthly contributions made by members for services provided by RWAs raised from Rs. 5,000 to Rs. 7,500 per month per person Posted On: 07 FEB 2018 1:47PM… Read More »

 GST rate on admission to amusement parks and ballet etc, reduced from 28% to 18%.

By | February 8, 2018

Ministry of Finance  GST rate on admission to amusement parks and ballet etc, reduced from 28% to 18%. Posted On: 07 FEB 2018 1:47PM by PIB Delhi  ​ In its  Meeting held on 18th January, 2018, the GST Council had recommended reduction of GST rate on services by way of admission to Amusement Parks including theme parks, water… Read More »