Daily Archives: March 24, 2018

HC allowed Credit of clean energy cess paid on coal for payment of GST compensation cess

By | March 24, 2018

Petitioner here will continue to pay the taxes as and when they fall due after availing and utilizing the credit for the cess already paid. This will, however, be subject to the final orders passed by this Court. HIGH COURT OF DELHI Hind Energy & Coal Benefication (India) Ltd. v. Union of India S. MURALIDHAR AND PRATHIBA… Read More »

ICAI suggests SUF Model for GST returns

By | March 24, 2018

lCAl Suggests the SUF Model (Simplified User-Friendlv Model) on return filing & enabling of credit ‘The model could be follows: 1. Supplier will upload summary information from B2B invoices on real time basis up to 10th of the following month. The summary information will be limited to those relevant for purposes of allowing credit, namely: a)… Read More »

E-Insurance Accounts: 15,21,907 accounts opened as on 15.03.2018

By | March 24, 2018

Ministry of Finance E-Insurance Accounts: 15,21,907 accounts opened as on 15th March 2018 Posted On: 23 MAR 2018 5:32PM by PIB Delhi As per Insurance Regulatory and Development Authority of India (IRDAI), the number of customers who have opened e-insurance accounts as on 15th March 2018 are 15,21,907. However, e-insurance accounts are only for storing insurance… Read More »

Goods & Services Tax (GST) collections

By | March 24, 2018

Ministry of Finance Goods & Services Tax (GST) collections Posted On: 23 MAR 2018 5:36PM by PIB Delhi The month-wise consolidated figures of Central Goods and Services Tax (CGST), State Goods and Services Tax (SGST), Integrated Goods and Services Tax (IGST) and Cess collected by the Government since July 1, 2017 is as under: (Amount in… Read More »

User Friendly GSTN : Survey

By | March 24, 2018

Ministry of Finance User-Friendly Goods and Services Tax Network (GSTN) Posted On: 23 MAR 2018 5:38PM by PIB Delhi        Goods and Services Tax Network (GSTN) has sought the views of the taxpayers about their experience and difficulties.  A survey was conducted by GSTN on overall taxpayer’s satisfaction during the months of October 2017 & November… Read More »

Relaxation of Norms for NPS -National Pension Scheme

By | March 24, 2018

Ministry of Finance Relaxation of Norms for NPS Posted On: 23 MAR 2018 5:42PM by PIB Delhi The Government of India has recently made three changes in the National Pension Scheme (NPS) including withdrawal norms. The details are as under:   Partial withdrawal during the service: The Pension Fund Regulatory and Development Authority (PFRDA), with… Read More »

Prosecution against 780 listed companies filed for not filing annual returns

By | March 24, 2018

Ministry of Corporate Affairs Ministry of Corporate Affairs (MCA) has filed prosecution against 780 listed companies under various sections of Companies Act, 2013 due to non-filing of Financial Statements and Annual Returns Posted On: 23 MAR 2018 6:42PM by PIB Delhi The Government has taken any steps against listed companies which are not functioning. Ministry… Read More »

Companies’ registrations increased after GST

By | March 24, 2018

Ministry of Corporate Affairs After introduction of GST, increasing trend in the number of companies’ registrations, industrial activity has accelerated and growth in sales for corporates has also seen a remarkable increase Posted On: 23 MAR 2018 6:45PM by PIB Delhi Introduction of GST was a historical step for transforming India into a common national… Read More »

Section 143 of Uttarakhand GST Act 2017 : Jobwork procedure

By | March 24, 2018

Section 143 of Uttarakhand GST Act 2017 ( Section 143 of Uttarakhand GST Act 2017 explains Jobwork procedure and is covered in  CHAPTER XXI MISCELLANEOUS)  Jobwork 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 or capital… Read More »

Section 142 of Uttarakhand GST Act 2017 : Miscellaneous transitional provisions

By | March 24, 2018

Section 142 of Uttarakhand GST Act 2017 ( Section 142 of Uttarakhand 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 appointed… Read More »