Daily Archives: June 14, 2018

Income Tax Deductions AY 2019-20 (FY 2018-19)

By | June 14, 2018

Income Tax Deductions AY 2019-20 (FY 2018-19) [As amended by Finance Act, 2018] Section Nature of deduction Who can claim (1) (2) (3) Against ‘salaries’ 16(ia) Standard Deduction [Rs. 40,000 or the amount of salary, whichever is lower] Individual – Salaried Employee 16(ii) Entertainment allowance [actual or at the rate of 1/5th of salary, whichever… Read More »

Free E-Handbook on Job work under GST : by ICAI

By | June 14, 2018

E-Handbook on Job work under GST Download Free E-Handbook on Job work under GST issued by ICAI Indirect Taxes Committee [ June 2018 ] Click here  This handbook provides the provisions relating to job work under one umbrella to enable job  workers, manufacturers and consultants to do their SWOT analysis and materialize the benefits of GST as… Read More »

Circular No 48/22/2018 GST : Issues of SEZ & refund of unutilized ITC for job workers clarified

By | June 14, 2018

Circular No 48/22/2018 GST Circular No 48/22/2018 GST issued on 14.06.2018 for clarifying miscellaneous issues related to SEZ and refund of unutilized ITC for job workers Circular No 48/22/2018 GST CIRCULAR NO. 48/22/2018- GST [F.NO. CBEC/20/16/03/2017- GST], DATED 14-6-2018 Representations have been received seeking clarification on certain issues under the GST laws. The same have been examined… Read More »

How to Change email and mobile of authorized signatory on GST Portal : Govt Press Release

By | June 14, 2018

Ministry of Finance Change of email and mobile number of the authorized signatory by taxpayers with assistance from the jurisdictional tax officer under GST system Posted On: 14 JUN 2018 11:48AM by PIB Delhi Complaints are being received from taxpayers that the intermediaries who were authorized by them to apply for registration on their behalf… Read More »

Income Tax Appeal to ITAT :Form 35 and 36A to be Revised : CBDT Issued Draft Notification

By | June 14, 2018

Income Tax Appeal to ITAT :Form 35 and 36A to be Revised : CBDT Issued Draft Notification The Central Board of Direct Taxes (CBDT) has issued draft notification for modifying Form no. 35 & Form no. 36A. New Forms required more informative and also to capture information regarding amount disputed in pending appeals before ITAT.… Read More »

New GST Notification issued on 13.06.2018

By | June 14, 2018

New GST News and Notification 13.06.2018 [ Join online GST Course by CA Satbir Singh ] New GST Notifications Notification No 27/2018 Central Tax Dated 13.06.2018 :List of Seized Goods to be disposed by proper officer Notification No 26/2018 Central Tax Dated 13.06.2018 : CGST (Fifth Amendment) Rules 2018. GST Updated Notifications Notification No 25/2018… Read More »

No need to Reverse Input Tax Credit for non payment if recipient Supplied Material to Supplier

By | June 14, 2018

No need to Reverse Input Tax Credit for non payment if recipient Supplied Material to Supplier Summary Section 16 of CGST Act 2017 deals with Eligibility and condition for taking input tax credit. …… second proviso to sub-section (2) of section 16 says :- Provided further that where a recipient fails to pay to the supplier of… Read More »

No Eway bill is required if empty LPG cylinders are being moved for reasons other than supply

By | June 14, 2018

No E-way bill is required if empty LPG cylinders are being moved for reasons other than supply Video Tutorial by CA Satbir Singh (Voice in Hindi , Slides in English)  explaining when E-way bill is not required if empty LPG cylinders are being moved for reasons other than supply Summary :No Eway bill is required for… Read More »

How to deposit amount due to order of ANTI-PROFITEERING Authority : Rule 133(3) of CGST Rules Changed

By | June 14, 2018

How to deposit amount due to order of ANTI-PROFITEERING Authority : Rule 133(3) of CGST Rules Changed Rule 133 of CGST Rules deals Order of the Authority (ANTI-PROFITEERING) As per  Notification No 26/2018 Central Tax Dated 13.06.2018 : CGST (Fifth Amendment) Rules 2018 in rule 133, for sub-rule (3), the following shall be substituted, namely:- “(3)… Read More »

Category: GST