Daily Archives: August 10, 2018

Benefits of National Pension Scheme

By | August 10, 2018

Ministry of Finance New Pension Scheme (NPS) Posted On: 10 AUG 2018 7:03PM by PIB Delhi National Pension System (NPS) has been designed giving utmost importance to the welfare of the subscribers. Government has made a conscious move to shift from the defined benefit Pension Scheme to defined contribution pension scheme i.e. NPS, due to… Read More »

Anti-Profiteering Mechanism under GST

By | August 10, 2018

Ministry of Finance Anti-Profiteering Mechanism under GST Posted On: 10 AUG 2018 6:57PM by PIB Delhi The month-wise details of Central Goods and Services Tax (CGST), State Goods and Services Tax (SGST), Integrated Goods and Services Tax (IGST) and Cess collected by the Government till 31st July, 2018 are as under:     (In Rs. Crore)… Read More »

Category: GST

Guidelines to Control Black Money in Share Market

By | August 10, 2018

Ministry of Finance Guidelines to Control Black Money in Share Market Posted On: 10 AUG 2018 6:56PM by PIB Delhi Securities and Exchange Board of India (SEBI), vide circular dated April 27, 2007, has mandated that PAN would be the sole identification number for all participants transacting in the securities market, irrespective of the amount… Read More »

Instruction for Safety of Lockers in Banks

By | August 10, 2018

Ministry of Finance Instruction for Safety of Lockers in Banks Posted On: 10 AUG 2018 6:49PM by PIB Delhi Reserve Bank of India (RBI) has issued instructions to banks regarding the safety of bank lockers for exercising due care and necessary precaution for the protection of the lockers provided to the customer, reviewing the systems… Read More »

Circular No 54/28/2018 GST : classification of fertilizers supplied for use in the manufacture of other fertilizers at 5 % GST rate

By | August 10, 2018

Circular No 54/28/2018 GST Circular No. 54/28/2018-GST dated 09.08.2018 i.r.o. classification of fertilizers supplied for use in the manufacture of other fertilizers at 5 % GST rate. F. No. 354/255/2018-TRU (Part-2) Government of India Ministry of Finance Department of Revenue (Tax Research Unit) North Block, New Delhi Dated, 9 th August, 2018 To Principal Chief… Read More »

Circular No 53/27/2018 GST : GST on petroleum gases clarified

By | August 10, 2018

Circular No 53/27/2018 GST Circular No. 53/27/2018-GST dated 09.08.2018 i.r.o. clarification regarding applicability of GST on petroleum gases retained for the manufacture of petrochemical and chemical products F.No.354/255/2018-TRU (Part-2) Government of India Ministry of Finance Department of Revenue (Tax Research Unit) North Block, New Delhi Dated, 9th August, 2018 To Principal Chief Commissioners/Principal Directors General,… Read More »

Circular No 52/26/2018 GST : GST rates on various goods and services Clarified

By | August 10, 2018

Circular No 52/26/2018 GST Circular No. 52/26/2018-GST dated 09.08.2018 i.r.o. clarification regarding applicability of GST rates on various goods and services. F.No.354/255/2018-TRU (Part-2) Government of India Ministry of Finance Department of Revenue (Tax Research Unit) North Block, New Delhi Dated, 9th August, 2018 To Principal Chief Commissioners/ Principal Directors General, Chief Commissioners/ Directors General, Principal… Read More »

Notification No 34/2018 Central Tax : GSTR-3B due Date for July 2018 to March 2019

By | August 10, 2018

Notification No 34/2018 Central Tax Summary of Notification No 34/2018 Central Tax Notification No 34/2018 Central Tax Dated 10th August, 2018 Seeks to prescribe the due dates for filing FORM GSTR-3B for the months from July, 2018 to March, 2019 [Refer :- Notification No 35/2018 Central Tax Dated  21st August, 2018: GSTR-3B Date for July 2018… Read More »

Notification No 33/2018  Central Tax : GSTR-1 due date for July 2018 to March 2019 if aggregate turnover of upto Rs.1.5 crores

By | August 10, 2018

Notification No 33/2018  Central Tax Summary of Notification No 33/2018  Central Tax Notification No 33/2018  Central Tax Dated 10th August, 2018 Seeks to prescribe the due dates for quarterly furnishing of FORM GSTR-1 for those taxpayers with aggregate turnover of upto Rs.1.5 crores for the period from July, 2018 to March, 2019 Also read Notification No 43/2018… Read More »

Notification No 32 /2018 Central Tax : GSTR-1 Due date for July 2018 to March 2019 if Turnover more than 1.5 Crore

By | August 10, 2018

Notification No 32 /2018 Central Tax Summary of Notification No 32 /2018 Central Tax Notification No 32/2018  Central Tax Dated 10th August, 2018  Seeks to prescribe the due dates for furnishing of FORM GSTR-1 for those taxpayers with aggregate turnover of more than Rs. 1.5 crores for the months from July, 2018 to March, 2019 Notification… Read More »

New GST News 10.08.2018

By | August 10, 2018

New GST News 10.08.2018 [ Join online GST Course by CA Satbir Singh ] New GST News New Books for GST , Income Tax & Law Practice (Till Aug 2018) CGST Amendment: Businessmen may have to reverse Cess credits Auditor Responsibility for GST Audit The Central Goods and Services Tax (Amendment) Bill 2018 : Download… Read More »

Category: GST

CGST Amendment: Businessmen may have to reverse Cess credits carried forward in GST

By | August 10, 2018

CGST Amendment: Businessmen may have to reverse Cess credits After the CGST Amendment Bill was passed in the Lok Sabha, Business which have claimed input credits for cesses like Krishi Kalyan Cess and Secondary & Higher Education cess (SHEC) are now required to reverse that credit As part of the proposed amendment an explanation under… Read More »

Circular No 25/2018 Customs : SOP for discharge of bonds executed by nominated agencies/ banks for import of gold, silver and platinum

By | August 10, 2018

Circular No 25/2018 Customs F.No. DGEP/G&J/22/2018 Government of India Ministry of Finance Department of Revenue Central Board of Indirect Taxes & Customs (Directorate General of Export Promotion) ****** New Delhi, Dated: 8th August, 2018 To, All Pr. Chief Commissioners/ Chief Commissioners of Customs/ Customs & Central Tax/ Customs (Preventive) All Pr. Commissioners/ Commissioners of Customs/ Customs… Read More »

How to Save Income Tax on Capital Gains by Bond Investment : Section 54EC Income Tax

By | August 10, 2018

How to Save Income Tax on Capital Gains by Bond Investment Video Explanation by CA Satbir Singh on how to Save Income Tax on Capital Gains by Bond Investment Sale of Building by Mr Raj is as Follow Date of Sales 01.04.2018 and Sale Consideration received is  Rs 1.00 Crore Cost of Acquisition on 01.06.2008 (FY 2008-09)… Read More »