Daily Archives: March 18, 2017

Mandatory for Govt. Departments to obtain registration under GST – Conditions

By | March 18, 2017

Is it necessary for the Govt. Department to obtain registration under  GST ? As per Section 2(73)(g) of Revised Model GST Law person” includes— any corporation established by or under any Central, State or Provincial Act or a Government company as defined in section 2(45) of the Companies Act, 2013 (18 of 2013); Thus In case the Government… Read More »

GST Input service distributor & recipient should have Same PAN to distribute Credit

By | March 18, 2017

Whether the Input service distributor and the recipient situated in different States should have same PAN or different PANs Explanation 2 to Section 21(3) [Manner of distribution of credit by Input Service Distributor] of Revised Model GST Law – Recipient of credit’ means the supplier of goods and / or services having the same PAN as that… Read More »

GST Input Tax Credit Treatment in case Switchover from Taxable to Exempt /Composition Scheme

By | March 18, 2017

What is the Input Tax Credit Treatment in case of switchover from taxable to exempt transactions or from Regular to composition Scheme ? As per Section 18(7) of the Revised Model GST Law the taxable person should pay the input tax credit already availed to the extent of credit in stock and on capital goods… Read More »

GST Migration – PAN Mismatch – Solutions provided by GSTN

By | March 18, 2017

Since enrolment application went live,of many issues,one particular issue that has been reported in significant numbers was pertaining to PAN validation of taxpayers,required to be done after the application is submitted with either e-signature or DSC. GSTN has investigated many such issues and have taken certain steps to help tax payers migrate successfully. Problem encountered… Read More »

Category: GST

Disclose regulatory orders and arbitration on Websites – SEBI

By | March 18, 2017

CIRCULAR SEBI/HO/MRD/DRMNP/CIR/P/2017/24 March 16, 2017 To, All Recognised Clearing Corporations Dear Sir / Madam, Subject: Disclosures relating to regulatory orders and arbitration matters on websites of Clearing Corporations 1. In order to improve transparency in disclosing the regulatory orders and arbitration awards issued by clearing corporations, it has been decided that all regulatory orders i.e.… Read More »

Claims of Duty Drawback – Errors in the Bank account No. given by exporters

By | March 18, 2017

Instructions no. 3/2017-Customs F.No. 609/29/2017-DBK Government of India Ministry of Finance, Department of Revenue Central Board of Excise & Customs Drawback Division New Delhi, dated the 16th March, 2017 To All Chief Commissioners of Customs / Customs (Prev), All Chief Commissioners of Customs & Central Excise, All Commissioners of Customs/ Prev/ Customs & Central Excise/ Central… Read More »

Targets and Collection of Tax Demand Till February 2017 -Unsatisfactory Performance

By | March 18, 2017

GOVERNMENT OF INDIA Ministry of Finance/Department of Revenue Central Board of Direct Taxes North Block, New Delhi-1 10001 E-mail : chairmancbdt@nic.in Tete : 23092648 & Telefax : 23092544 F. No. 385/17/2016-IT (B) Dated the 17th March, 2017. Dear Principal Chief Commissioner of Income Tax, Subject: Unsatisfactory performance in the area of recovery from arrear and current demand-… Read More »