Daily Archives: March 30, 2018

Second Hand Goods Import Policy for repair

By | March 30, 2018

Government of India Ministry of Commerce & Industry Department of Commerce Directorate General of Foreign Trade Udyog Bhawan Notification No. 58/2015-2020 New Delhi, Dated:  28 March, 2018 Subject: Amendment in Para 2.31 of Foreign Trade Policy, 2015-2020. S.O. (E): In exercise of powers conferred by Section 3 of FT (D&R) Act, 1992, read with paragraph 1.02 and 2.01… Read More »

Securities / Commodities Transaction Tax Amended by Finance Act 2018

By | March 30, 2018

Securities Transaction Tax Commodities Transaction Tax & Equalisation Levy with Rules-As Amended by Finance Act 2018 As Amended by Finance Act 2018 Price Rs 250 Click to buy online Paperback: 108 pages Publisher: Taxmann; Taxmann edition (2018) Language: English

Gratuity Tax Free Limit increased to Rs 20 Lakh : Notification

By | March 30, 2018

Gratuity Tax Free Limit increased to Rs 20 Lakh NOTIFICATION New Delhi, the 29th March, 2018 S.O. 1420 (E).—In exercise of the powers conferred by sub-section (3) of section 4 of the Payment of Gratuity Act, 1972 (39 of 1972), the Central Government hereby specifies that the amount of gratuity payable to an employee under… Read More »

NOTIFICATION NO. 46/ST-2 Haryana Eway Bill deferred for intra state movement

By | March 30, 2018

RULE 138 OF THE CENTRAL GOODS & SERVICES TAX RULES, 2017, READ WITH RULE 138 OF THE HARYANA GOODS & SERVICES TAX RULES, 2017- E-WAY BILL – E-WAY BILL NOT REQUIRED FOR MOVEMENT OF GOODS WITHIN HARYANA NOTIFICATION NO. 46/ST-2, DATED 30-3-2018 RESCINDED BY NOTIFICATION NO.49/ST-2, DATED 19-4-2018 In exercise of the powers conferred by clause (d)… Read More »

Payment of Gratuity (Amendment) Act 2018 : Notification : Download

By | March 30, 2018

MINISTRY OF LAW AND JUSTICE (Legislative Department) New Delhi, the 29th March, 2018/Chaitra 8, 1940 (Saka)   The following Act of Parliament received the assent of the President on the 28th March, 2018, and is hereby published for general information:— THE PAYMENT OF GRATUITY (AMENDMENT) ACT, 2018 NO. 12 OF 2018 [28th March, 2018.] An Act… Read More »

Section 68 of Goa GST Act 2017 : Inspection of goods in movement 

By | March 30, 2018

Section 68 of Goa GST Act 2017 [ Section 68 of Goa GST Act 2017 explains Inspection of goods in movement  and is covered in CHAPTER XIV : INSPECTION, SEARCH, SEIZURE AND ARREST] Inspection of goods in movement . 68. (1) The Government may require the person in charge of a conveyance carrying any consignment of goods of value exceeding such amount… Read More »

Section 67 of Goa GST Act 2017 : Power of inspection, search and seizure

By | March 30, 2018

Section 67 of Goa GST Act 2017 [ Section 67 of Goa GST Act 2017 explains Power of inspection, search and seizure and is covered in CHAPTER XIV : INSPECTION, SEARCH, SEIZURE AND ARREST] Power of inspection, search and seizure. 67. (1) Where the Commissioner, has reasons to believe that–– (a) a taxable person has suppressed any transaction relating to supply… Read More »

Section 66 of Goa GST Act 2017 : Special audit

By | March 30, 2018

Section 66 of Goa GST Act 2017 [ Section 66 of Goa GST Act 2017 explains Special audit and is covered in CHAPTER XIII : AUDIT ] Special audit. 66. (1) If at any stage of scrutiny, inquiry, investigation or any other proceedings before him, any officer not below the rank of Deputy Commissioner, having regard to the nature and complexity of… Read More »

Section 65 of Goa GST Act 2017 : Audit by tax authorities

By | March 30, 2018

Section 65 of Goa GST Act 2017 [ Section 65 of Goa GST Act 2017 explains Audit by tax authorities and is covered in CHAPTER XIII : AUDIT ] Audit by tax authorities . 65. (1) The Commissioner or any officer authorised by him, by way of a general or a specific order, may undertake audit of any registered person for such period,… Read More »

Section 64 of Goa GST Act 2017 : Summary assessment in certain special cases

By | March 30, 2018

Section 64 of Goa GST Act 2017 [ Section 64 of Goa GST Act 2017 explains Summary assessment in certain special cases and is covered in CHAPTER XII : ASSESSMENT ] Summary assessment in certain special cases . 64. (1) The proper officer may, on any evidence showing a tax liability of a person coming to his notice, with the previous permission of… Read More »

Section 63 of Goa GST Act 2017 : Assessment of unregistered persons

By | March 30, 2018

Section 63 of Goa GST Act 2017 [ Section 63 of Goa GST Act 2017 explains Assessment of unregistered persons and is covered in CHAPTER XII : ASSESSMENT ] Assessment of unregistered persons . 63. Notwithstanding anything to the contrary contained in section 73 or section 74, where a taxable person fails to obtain registration even though liable to do so or whose… Read More »

Section 62 of Goa GST Act 2017 : Assessment of non-filers of returns

By | March 30, 2018

Section 62 of Goa GST Act 2017 [ Section 62 of Goa GST Act 2017 explains Assessment of non-filers of returns and is covered in CHAPTER XII : ASSESSMENT ] Assessment of non-filers of returns . 62. (1) Notwithstanding anything to the contrary contained in section 73 or section 74, where a registered person fails to furnish the return under section 39 or… Read More »

Section 61 of Goa GST Act 2017 : Scrutiny of returns

By | March 30, 2018

Section 61 of Goa GST Act 2017 [ Section 61 of Goa GST Act 2017 explains Scrutiny of returns and is covered in CHAPTER XII : ASSESSMENT ] Scrutiny of returns . 61. (1) The proper officer may scrutinize the return and related particulars furnished by the registered person to verify the correctness of the return and inform him of the discrepancies noticed,… Read More »

Section 60 of Goa GST Act 2017 : Provisional assessment

By | March 30, 2018

Section 60 of Goa GST Act 2017 [ Section 60 of Goa GST Act 2017 explains Provisional assessment and is covered in CHAPTER XII : ASSESSMENT ] Provisional assessment . 60. (1) Subject to the provisions of sub-section (2), where the taxable person is unable to determine the value of goods or services or both or determine the rate of tax applicable thereto,… Read More »

Section 59 of Goa GST Act 2017 : Self-assessment

By | March 30, 2018

Section 59 of Goa GST Act 2017 [ Section 59 of Goa GST Act 2017 explains Self-assessment and is covered in CHAPTER XII : ASSESSMENT ] Self-assessment. 59. Every registered person shall self-assess the taxes payable under this Act and furnish a return for each tax period as specified under section 39. Goa GST Act 2017 GOA GST Bill 2017 Related Topic… Read More »

Section 57 of Goa GST Act 2017 : Consumer Welfare Fund

By | March 30, 2018

Section 57 of Goa GST Act 2017 [ Section 57 of Goa GST Act 2017 explains Consumer Welfare Fund and is covered in CHAPTER XI : REFUNDS ] Consumer Welfare Fund. 57. The Government shall constitute a Fund, to be called the Consumer Welfare Fund and there shall be credited to the Fund,–– (a) the amount referred to in sub -section (5)… Read More »

Section 56 of Goa GST Act 2017 : Interest on delayed refunds

By | March 30, 2018

Section 56 of Goa GST Act 2017 [ Section 56 of Goa GST Act 2017 explains Interest on delayed refunds and is covered in CHAPTER XI : REFUNDS ] Interest on delayed refunds. 56. If any tax ordered to be refunded under sub-section (5) of section 54 to any applicant is not refunded within sixty days from the date of receipt of… Read More »

Section 55 of Goa GST Act 2017 : Refund in certain cases

By | March 30, 2018

Section 55 of Goa GST Act 2017 [ Section 55 of Goa GST Act 2017 explains Refund in certain cases and is covered in CHAPTER XI : REFUNDS ] Refund in certain cases. 55. The Government may, on the recommendations of the Council, by notification, specify any specialized agency of the United Nations Organization or any Multilateral Financial Institution and Organization notified… Read More »

Section 53 of Goa GST Act 2017 : Transfer of input tax credit 

By | March 30, 2018

Section 53 of Goa GST Act 2017 [ Section 53 of Goa GST Act 2017 explains Transfer of input tax credit  and is covered in CHAPTER X : PAYMENT OF TAX ] Transfer of input tax credit . 53. On utilisation of input tax credit availed under this Act for payment of tax dues under the Integrated Goods and Services Tax Act in… Read More »

Section 52 of Goa GST Act 2017 : Collection of tax at source

By | March 30, 2018

Section 52 of Goa GST Act 2017 [ Section 52 of Goa GST Act 2017 explains Collection of tax at source and is covered in CHAPTER X : PAYMENT OF TAX ] Collection of tax at source . 52. (1) Notwithstanding anything to the contrary contained in this Act, every electronic commerce operator (hereafter in this section referred to as the “operator”), not… Read More »

Section 51 of Goa GST Act 2017 : Tax deduction at source

By | March 30, 2018

Section 51 of Goa GST Act 2017 [ Section 51 of Goa GST Act 2017 explains Tax deduction at source and is covered in CHAPTER X : PAYMENT OF TAX ] Tax deduction at source . 51. (1) Notwith standing anything to the contrary contained in this Act, the Government may mandate,— (a) a department or establishment of the Central Government or State… Read More »

Section 50 of Goa GST Act 2017 : Interest on delayed payment of tax

By | March 30, 2018

Section 50 of Goa GST Act 2017 [ Section 50 of Goa GST Act 2017 explains Interest on delayed payment of tax and is covered in CHAPTER X : PAYMENT OF TAX ] Interest on delayed payment of tax. 50. (1) Every person who is liable to pay tax in accordance with the provisions of this Act or the rules made thereunder,… Read More »

Section 49 of Goa GST Act 2017 : Payment of tax, interest, penalty and other amounts

By | March 30, 2018

Section 49 of Goa GST Act 2017 [ Section 49 of Goa GST Act 2017 explains Payment of tax, interest, penalty and other amounts and is covered in CHAPTER X : PAYMENT OF TAX ] Payment of tax, interest, penalty and other amounts . 49. (1) Every deposit made towards tax, interest, penalty, fee or any other amount by a person by internet… Read More »

Section 48 of Goa GST Act 2017 : Goods and services tax practitioners

By | March 30, 2018

Section 48 of Goa GST Act 2017 [ Section 48 of Goa GST Act 2017 explains Goods and services tax practitioners and is covered in CHAPTER IX : RETURNS]  Goods and services tax practitioners. 48. (1) The manner of approval of goods and services tax practitioners, their eligibility conditions, duties and obligations, manner of removal and other conditions relevant for their… Read More »

Section 46 of Goa GST Act 2017 : Notice to return defaulters

By | March 30, 2018

Section 46 of Goa GST Act 2017 [ Section 46 of Goa GST Act 2017 explains Notice to return defaulters and is covered in CHAPTER IX : RETURNS] Notice to return defaulters. 46. Where registered person fails to furnish a return under section 39 or section 44 or section 45, a notice shall be issued requiring him to furnish such return… Read More »

Section 45 of Goa GST Act 2017 : Final return

By | March 30, 2018

Section 45 of Goa GST Act 2017 [ Section 45 of Goa GST Act 2017 explains Final return and is covered in CHAPTER IX : RETURNS] Final return . 45. Every registered person who is required to furnish a return under sub-section (1) of section 39 and whose registration has been cancelled shall furnish a final return within three months of the… Read More »

Section 44 of Goa GST Act 2017 : Annual return

By | March 30, 2018

Section 44 of Goa GST Act 2017 [ Section 44 of Goa GST Act 2017 explains Annual return and is covered in CHAPTER IX : RETURNS] Annual return . 44. (1) Every registered person, other than an Input Service Distributor, a person paying tax under section 51 or section 52, a casual taxable person and a non-resident taxable person, shall furnish an… Read More »

Section 43 of Goa GST Act 2017 : Matching, reversal and reclaim of reduction in output tax liability

By | March 30, 2018

Section 43 of Goa GST Act 2017 [ Section 43 of Goa GST Act 2017 explains Matching, reversal and reclaim of reduction in output tax liability and is covered in CHAPTER IX : RETURNS] Matching, reversal and reclaim of reduction in output tax liability. 43. (1) The details of every credit note relating to outward supply furnished by a registered person… Read More »