Daily Archives: June 15, 2018

GST rate on Food and beverages served at the time of parties in Club : Maharashtra AAR

By | June 15, 2018

Whether the food and beverages served at the time of parties within the premises of the club is liable to tax at CGST 205% + SGST 205%. If not what is the rate of tax? Held The application is withdrawn by the applicant , hence stands disposed off Maharashtra AUTHORITY FOR ADVANCE RULINGS Shri Sham Caterers… Read More »

EGM number on GST Portal can be given upto 7 Digits

By | June 15, 2018

EGM number on GST Portal GST Portal Update: Provision to give EGM number of maximum 7 digits has been provided to the tax payer. GST Refund Free Study Material GST Refunds – Analysis  GST Special Refund Fortnight from 31.05.2018 to 14.06.2018 : Press Release 30.05.2018 No refund of GST Challan payment if wrong GSTIN mentioned… Read More »

Delhi Intra-State e-way bill from 16.06.2018 : Notification

By | June 15, 2018

Intra-State e-way bill applicable from June 16, 2018 to Delhi if consignment value exceeds Rs. 1 lakh The E-way bill system would be applicable from June 16, 2018 in the State of Delhi for intra-State movement of goods. There is no need for generation of e-way bill in case of B2C (Business to Customer)  transactions… Read More »

Amount received for providing training services not “fees for technical services”

By | June 15, 2018

Amount received for providing training services not “fees for technical services” under treaty with the Netherlands: The Mumbai Bench of the Income-tax Appellate Tribunal held that consideration received by the taxpayer for providing training services and for access to a centralised reservation system (that is, common facilities provided to members of the taxpayer group) were… Read More »

Share premium received from foreign holding companies not income chargeable to tax

By | June 15, 2018

Share premium received from foreign holding companies not income chargeable to tax The Mumbai Bench of the Income-tax Appellate Tribunal held that a share premium received by the taxpayer from its non-resident holding company was a capital transaction and, thus, not income chargeable to tax in India. The case is: Finproject India (P.) Ltd. Read a June… Read More »

New GST Circular issued on 14.06.2018 & News

By | June 15, 2018

New GST News and Circular 14.06.2018 [ Join online GST Course by CA Satbir Singh ] New GST Circulars Circular No 48/22/2018 GST Dated 14.06.2018 : Issues of SEZ & refund of unutilized ITC for job workers clarified Circular No 47/21/2018 GST Dated 08th June 2018 : Clarifications of certain issues under GST Circular No… Read More »

Income Tax Exemption to Capital Gains on Sale of Agriculture Land

By | June 15, 2018

EXEMPTION TO CAPITAL GAINS ON SALE/ TRANSFER OF AGRICULTURAL LAND [As amended by Finance Act, 2018] Introduction A farmer wants to shift his agricultural land for certain reason and hence he sold his old agricultural land and from the sale proceeds he purchased another agricultural land. In this case the objective of the seller was… Read More »