Daily Archives: June 18, 2018

Reimbursement of GST liability on civil contract : HC directs Chhattisgarh SGST Officers to dispose of applications

By | June 18, 2018

HIGH COURT OF CHHATTISGARH Natthani Infrastructures v. State of Chhattisgarh SANJAY K. AGRAWAL, J. WP (C) NO. 1231 OF 2018 MAY  1, 2018 Ashish Surana, Adv. for the Petitioner. Gary Mukhopadhyay, GA and Pankaj Agrawal, Adv. for the Respondent. ORDER 1. Learned counsel appearing for the petitioner would submit that petitioner has made an application on 05.04.2018 before the respondent… Read More »

GST leads to Formalization of Economy and Widening of Tax Base : Govt Press Release 18.06.2018

By | June 18, 2018

Ministry of Finance GST leads to Formalization of Economy and Widening of Tax Base Posted On: 18 JUN 2018 1:08PM by PIB Delhi Historic tax reform, the Goods and Service Tax (GST), has resulted in formalization of economy and consequently information flow would eventually augment not only the Indirect Tax collections but also Direct Tax… Read More »

Standard deduction from salary income w.e.f FY 2018-19 (AY 2019-20)

By | June 18, 2018

Standard deduction from salary income Standard deduction from salary income w.e.f FY 2018-19 (AY 2019-20) onward is available under Income Tax Act of India. Here we have analysed the Standard deduction under Salary with Examples. Commentary on Standard deduction from salary income Standard deduction on salary income [Section 16]  Section 16, inter-alia, provides for certain deductions in… Read More »

No standard deduction on family pension under Income tax Act

By | June 18, 2018

No standard deduction on family pension Whether Rs 40,000 allowed as standard deduction for employees and pensioners also applicable for family pensioners? A deduction of Rs 40,000 would be allowable against the income which is taxable under the head “Salaries”. The family pension is normally received after the death of an employee.  Deduction of Rs… Read More »

No service tax on amount received as reimbursable expenses from clients : CESTAT

By | June 18, 2018

CESTAT, NEW DELHI BENCH Text Hundred India (P.) Ltd v. Commissioner of Service Tax, Delhi S. K. MOHANTY, JUDICIAL MEMBER AND V. PADMANABHAN, TECHNICAL MEMBER FINAL ORDER NO. 51706 OF 2018 STA NO. 1477 OF 2011 APRIL  25, 2018 Bharat Bhushan, Adv. for the Appellant. Sanjay Jain, AR (DR) for the Respondent. ORDER S.K. Mohanty, Judicial Member – This appeal… Read More »

Taxes subsumed in GST / Taxes replaced by GST Act

By | June 18, 2018

Taxes subsumed in GST GST would replace the following taxes which were levied and collected by the Center and states Center Taxes subsumed a) Central Excise Duty; b) Duties of Excise (Medicinal and Toilet Preparations); c) Additional Duties of Excise (Goods of Special Importance); d) Additional Duties of Excise (Textiles and Textile Products); e) Additional… Read More »

Category: GST

Collection of entertainment tax after GST Act : writ Petition admitted in Allahabad HC

By | June 18, 2018

HIGH COURT OF ALLAHABAD Multiplex Cinevision (P.) Ltd. v. State of U.P. KRISHNA MURARI AND ASHOK KUMAR, JJ. WRIT TAX NO. 751 OF 2018 MAY  8, 2018 Asha Parihar for the Petitioner. Gyan Prakash for the Respondent. JUDGMENT 1. Petitioner is a Company incorporated under the provisions of the Companies Act engaged in the business of construction and development of entertainment… Read More »

Guide to Fugitive Economic Offenders Ordinance 2018 – by CA Srinivasan Anand G.

By | June 18, 2018

Guide to Fugitive Economic Offenders Ordinance 2018 Paperback – 2018 by CA Srinivasan Anand G. (Author) Product description Incorporating : Who is a Fugitive Economic Offender, What is a Scheduled Offence?, Whether Ordinance applies to Companies,LLPs, Firms or AOPs, Declaration of Individual as Fugitive Economic Offender, Consequences of Individual being declared by Special Court as Fugitive Economic Offender, Where… Read More »

Limited Insolvency Examination Guide (May 2018 Edition) – by V.S. Datey

By | June 18, 2018

Limited Insolvency Examination Guide (May 2018 Edition)Paperback – 2018 by V.S. Datey (Author) Price Rs 1568 to Buy Click here Product description A Comprehensive Examination Guide to Limited Insolvency Examination with Section-Wise Digest of Judgments on IBC Prescribed by IBBI Paperback: 1022 pages Publisher: Taxmann; May 2018 Edition edition (2018)

Insolvency and Bankruptcy Law Digest (May 2018 Edition) – by Taxmann

By | June 18, 2018

Insolvency and Bankruptcy Law Digest (May 2018 Edition)Paperback – 15 May 2018 by Taxmann (Author) A Section-wise case book of almost all relevant judgments of Supreme Court/High Courts/NCLAT/NCLT on Insolvency and bankruptcy code. Price Rs 912 to Buy Click here Paperback: 600 pages Publisher: Taxmann (15 May 2018)

Taxation of Trusts & NGOs (Finance Act 2018) – by Dr. Manoj Fogla

By | June 18, 2018

Taxation of Trusts & NGOs (Finance Act 2018) Hardcover – 2018 by Dr. Manoj Fogla (Author) Price Rs 2368 to Buy Click here Product description A Comprehensive Commentary on : Exemption & Taxation of Trusts & NGOs, Foreign Contribution (Regulation) Act 2010, Lokpal & Lokayuktas Act 2013 as applicable to Trusts and NGOs Hardcover: 1784 pages Publisher: Taxmann; 11th Edition 2018… Read More »

Guide to Indian Accounting Standards (Ind AS) (Set of 2 Volumes) 2018 by Taxmann

By | June 18, 2018

Guide to Indian Accounting Standards (Ind AS) (Set of 2 Volumes)Paperback – 2018 by Taxmann (Author) Price Rs 4195 to Buy Click here Product description With Implementation Guidance,Illustrative Examples, Basis for Conclusions ****Also Incorporating : New Ind AS 115-Revenue from Contracts with Customers *****Based on IFRS Official Pronouncements Paperback: 2608 pages Publisher: Taxmann; 3rd Edition May 2018 edition (2018)

Illustrated Guide to Indian Accounting Standards (Ind AS) (5th Edition May 2018) – by B.D. Chatterjee

By | June 18, 2018

Illustrated Guide to Indian Accounting Standards (Ind AS) (5th Edition May 2018) Hardcover – 2018 by B.D. Chatterjee (Author) Price Rs 2027 to Buy Click here Product description As Amended by Companies (Indian Accounting Standards) (Amendment) Rules 2018****A Comprehensive commentary on Ind AS with more than 200 illustrations, charts and case studies, Detailed comparative analysis of Ind AS and… Read More »

Electronic sealing-deposit in and removal of goods from Customs Bonded warehouse : Circular No 19/2018  Customs

By | June 18, 2018

Electronic sealing-deposit in and removal of goods from Customs Bonded warehouse. Circular No 19/2018  Customs F.No: 484/3/2015- LC (Vol II) Government of India Ministry of Finance Department of Revenue Central Board of Indirect Taxes & Customs Room No: 226, North Block, New Delhi Dated 18th June 2018 To, Principal Chief Commissioners / Chief Commissioners /… Read More »

New GST News and Circular 18.06.2018

By | June 18, 2018

New GST News and Circular 18.06.2018 [ Join online GST Course by CA Satbir Singh ] New GST News GST and Income Tax Calendar : june 2018 GST Amendments Coming Soon .. Changes to include RCM, return filing, refund on exports Applicability of GST on Free Sample Supplies GST on Sale of old car purchased… Read More »

GST RCM : GST Reverse Charge Mechanism : Analysis

By | June 18, 2018

GST RCM ( GST Reverse Charge Mechanism ) we are analyzing in detail provision of  GST Reverse Charge Mechanism with Examples Meaning of GST RCM : Reverse Charge Mechanism Normally, GST is payable by ‘taxable person’ who is supplying goods and service.However, in some cases, GST is payable by person recipient of the goods or services… Read More »

GST on Sale of old car purchased before GST Act

By | June 18, 2018

Q A firm who is providing  consultancy services  liable to collect GST on  sale of car which was purchased in 2013? As per notification no.8/2018 of Central Tax Rate  that if you sale old car you have to charge GST on the margin which is difference between sale  consideration and depreciated value. It’s explain as Explanation which read… Read More »

Category: GST

Important Tips about e-way bill system

By | June 18, 2018

Important Tips about e-way bill system Website : E-way bill system web-site address is https://ewaybillgst.gov.in/ Download MIS Report : Please ensure that MIS reports are watched and downloaded on regular basis as the e-way bill system will not provide the e-way bills older than 15 days for the tax payers. Helpdesk : Please see the help desk… Read More »