Daily Archives: July 21, 2017

Date Extended for filing option for composition scheme under GST : Order No. 01/2017- GST Dated 21st July 2017

By | July 21, 2017

F. No. 345/114/2017-GST Government of India Ministry of Finance Department of Revenue Central Board of Excise and Customs GST Policy Wing New Delhi, the 21st July, 2017 Order No. 01/2017-GST Subject: Extension of time limit for filing intimation for composition levy under sub rule (1) of rule 3 of the CGST Rules, 2017 In exercise of… Read More »

Demonitization : Rs. 5400 crore detected , 1100 searches , 5100 notices by Income tax depdt

By | July 21, 2017

Demonitization: From 9th November 2016 to 10th January 2017, more than 1100 searches and surveys were conducted by the ITD; more than more than 5100 verification notices issued; The undisclosed income detected in these actions was more than Rs. 5400 crore. Disclosure of information regarding law flouters/specific taxpayers is prohibited except as provided under Section… Read More »

GST Feedback and Action Room (FAR) w.e.f. 26-06-2017

By | July 21, 2017

Government constitutes a GST Feedback and Action Room (FAR) w.e.f. 26-06-2017 to review the information, calls, media inputs etc received from Ministries, State Governments, field formations, social media, news channels, emails etc  To reply the queries of the taxpayers and tax officials and to deal with issues related to the implementation of Goods and Services… Read More »

Impact of GST  : Govt constituted Central Monitoring Committee

By | July 21, 2017

Government has constituted a Central Monitoring Committee headed by the Cabinet Secretary to monitor the impact of GST  The Government of India has setup a Central Monitoring Committee headed by the Cabinet Secretary. Three meetings of the Central Monitoring Committee have been held on 2nd July, 11th July and 18th July. The reports include the… Read More »

Centrally Sponsored Schemes – sunset date for all schemes 

By | July 21, 2017

Centrally Sponsored Schemes – sunset date for all schemes  There are 28 Centrally Sponsored Schemes running across the country. All 28 Centrally Sponsored Schemes have sunset dates except Mahatma Gandhi National Rural Employment Guarantee Scheme of the Ministry of Rural Development, which is under Mahatma Gandhi Rural Employment Guarantee Act. In para-110 of the Budget… Read More »

GST Advance Ruling Mechanism : Analysis

By | July 21, 2017

GST Advance Ruling Mechanism Introduction An advance ruling helps the applicant in planning his activities which are liable for payment of GST, well in advance. It also brings certainty in determining the tax liability, as the ruling given by the Authority for Advance Ruling is binding on the applicant as well as Government authorities. Further,… Read More »

OIDAR Services in GST : Analysis

By | July 21, 2017

OIDAR Service in GST (Online Information Data Base Access and Retrieval (OIDAR) Services in GST ) What is OIDAR ? Online Information Database Access and Retrieval services (OIDAR) is a category of services provided through the medium of internet and received by the recipient online without having any physical interface with the supplier of such… Read More »

No GST compensation cess under reverse charge on second hand goods intra state supplies : Notification No 04/2017 Compensation Cess (Rate)  Dated 20th July, 2017

By | July 21, 2017

Notification No 04/2017 Compensation Cess (Rate)  Dated 20th July, 2017  :Seeks to exempt intra-State supplies of second hand goods received by a registered person, dealing in buying and selling of second hand goods and who pays the goods and services tax compensation cess on the value of outward supply of such second hand goods, as… Read More »

CGST Rules 2017 [ Updated ]: Chapter Wise & Rule wise

By | July 21, 2017

CGST Rules 2017 (Updated till Date) [ Following are updated CGST Rules 2017 with notification dated 06.07.2018 . CGST Rules 2017 Inserted by  Notification No. 3 /2017 – Central Tax Dated  19th June 2017 Amended by CGST (First Amendement) Rules  2017 vide Notification No. 7/2017 – Central Tax Dtd 27th June, 2017, CGST (Second Amendment) Rules 2017 vide Notification No. 10/2017… Read More »