Daily Archives: January 8, 2017

GST #Issue8 ; Check posts in India will continue under GST regime also ?

By | January 8, 2017

Check posts under GST Regime Check posts hamper smooth movement of goods in India and is regressive in nature.  Section 80 of Revised Model GST Law  indicate that there will be check post even after GST regime in India. Section 80 is reproduced below :- Inspection of goods in movement (1) The Central or a State Government… Read More »

GST #issue7- Recipient has to ensure that Supplier pays tax to claim ITC

By | January 8, 2017

GST Issue :- Recipient has to keep track that Supplier pays tax to claim ITC (Input Tax Credit ) On an analysis of Section 37 read with Section 16 of the Revised Model GST Law, relating to matching, reversal and reclaim of input tax credit the following facts emerge: a. Every inward supply of a… Read More »

Demonetisation -Article by Arun Jaitley (Finance Minister of India)

By | January 8, 2017

Text of the Article on Demonetisation by the Union Finance Minister Shri Arun Jaitley Following is the full Text of the Article entitled “Demonetisation – A Look Back at the last Two Months” by the Union Finance Minister Shri Arun Jaitley: “Two months have passed since the Prime Minister announced the decision that high denominational… Read More »

Income Tax Dept. Report Card FY 2016-17 – Udisclosed income + Black Money

By | January 8, 2017

Achievements of CBDT during Financial Year 2016-17 Major Achievements of CBDT in Current Financial Year 2016-17 so far include among others Enactment of The Benami Transactions (Prohibition) Amendment Act, 2016, Implementation of The Direct Tax Dispute Resolution Scheme, 2016 and of GAAR from Assessment Year 2018-19; Signing of contract for implementation of Project Insight to… Read More »

39 Key Changes in Revised Model GST Law vs Old Model GST Law

By | January 8, 2017

39 Key Changes in Revised Model GST Law Key Point Draft Model GST Law June 2016 Revised Draft Model GST Law November 2016 Incentives or concessions to SEZs. No provision in the Model GST Law Supply of goods and/or services to a SEZ developer or an SEZ unit are defined as zero rated supply in… Read More »

Incorrect PAN against Provisional Id – Clarification for MVAT dealer

By | January 8, 2017

Office of the Commissioner of sales Tax, Maharashtra State, 8th Flr., Vikrikar Bhavan, Mazgaon, Mumbai-400010 To, ……………………… No. JCST/Mahavikas/GST EnrolInnent/2016-17/B-1024 Mumbai, Dt. 06/01/2017 Trade Circular No. 2T of 2017 Subject: Distribution of Provisional Login Id and Passwords as provided by the GST to the existing dealers for enabling them to Log-on the GST Common Portal… Read More »

Category: GST