Monthly Archives: October 2018

GST Practitioners Exam FAQs , Syllabus and Pattern

By | October 31, 2018

Examination of GST Practitioners Rule 83A of CGST Rules 2017 inserted by CGST (13th Amendment ) Rules 2018  Dated 30th October, 2018 Video Tutorial on Rule 83A of CGST Rules 2017 Also refer GST Practitioner : Exam and Eligibility Who is required to pass GST Practioners Exam ? Examination of Goods and Services Tax Practitioners.- Every person… Read More »

No Income Tax Exemption for PF interest on accumulated balance after retirement : ITAT

By | October 31, 2018

e are of the considered opinion that the withdrawal to the extent of the accumulated balance (viz., contributions plus interest) up to the retirement of the assessee’s i.e., 1/4/2002 of Rs.37,93,888/- is eligible for exemption u/s 10(12) of the Act . However in respect of the accrued interest of Rs. 44,07,195/-from 1/4/2002 to 11/4/2011 on the… Read More »

Goods to be released on indemnity bond if wrong truck no. mentioned in eway bill by mistake : HC

By | October 31, 2018

HIGH COURT OF ALLAHABAD Rajavat Steels v. State of U.P. ASHOK KUMAR, J. WRIT TAX NO. 1300 OF 2018 SEPTEMBER  27, 2018 Rahul Agarwal for the Petitioner. ORDER   1. Heard learned counsel for the petitioners and learned Standing Counsel for the State. 2. This writ petition is filed with prayer to quash the notice dated 18.09.2018 passed… Read More »

New GST News 31.10.2018

By | October 31, 2018

New GST News 31.10.2018 [ Join online GST Course by CA Satbir Singh ] New GST News Free GST Online Course [ Videos ] by CA Satbir Singh Updated CGST Rules 2017 till 30.10.2018 : Download Rule 83A of CGST Rules 2017 : Examination of GST Practitioners Manual GST Refunds : Standard Operating Procedure No… Read More »

Category: GST

Rule 142A of CGST Rules 2017 : Procedure for recovery of dues under existing laws.

By | October 31, 2018

Rule 142A of CGST Rules 2017 Summary of Rule 142A of CGST Rules 2017  Rule 142A of CGST Rules 2017  deals with ” Procedure for recovery of dues under existing laws ” and inserted by Notification No 60/2018 Central Tax : CGST (13th Amendment ) Rules 2018 Dated 30.10.2018 : Rule 142A of CGST Rules 2017 “142A.… Read More »

Notification No 60/2018 Central Tax : CGST (13th Amendment ) Rules 2018

By | October 31, 2018

Seeks to make amendments (Thirteenth Amendment, 2018) to the CGST Rules, 2017. Refer also Corrigendum to Notification No 60/2018-Central Tax, dated the 30th October, 2018 [To be published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i)] Government of India Ministry of Finance (Department of Revenue) Central Board of Indirect Taxes and Customs… Read More »

ROC extended time for filing of financial statements for FY ended 31.03.2018

By | October 31, 2018

Due date for filing Financial Statements & Annual Return with RoC extended to Dec. 31, 2018 Keeping in view the requests received from various stakeholders seeking extension of time for filing of financial statements for the financial year ended 31.03.2018 on account of various factors , it has been decided to relax the additional fees… Read More »

No evidence of profiteering from GST by Amway : National Anti-Profiteering authority

By | October 31, 2018

Application filed by applicant requesting for action against respondent for alleged violation of provisions of section 171 on ground that respondent had not passed on benefit of reduction in GST rates from 28 per cent to 18 per cent on selected items to its customers/Amway Business Owners would not be maintainable as there was no… Read More »

Manual GST Refunds : Standard Operating Procedure

By | October 31, 2018

Manual GST Refunds GST Refund Process Flow Chart Introduction: Refund module is currently not operational on the common portal of the GSTN causing delay in filing and processing of application for refund electronically. Manual filing of applications/documents/forms pertaining to refund claims has been prescribed to overcome this difficulty and, such applications shall also be processed… Read More »

Clarification on GST Registration of casual taxable person

By | October 30, 2018

Clarification on GST Registration of casual taxable person Video Tutorial on Casual Taxable person under GST Section 2(20) of CGST Act 2017 “casual taxable person” means a person who occasionally undertakes transactions involving supply of goods or services or both in the course or furtherance of business, whether as principal, agent or in any other… Read More »

ICAI Technical Guide on Functioning of Audit Committee & Its Review Checklist :Download

By | October 30, 2018

Technical Guide on the Functioning of Audit Committee & Its Review Checklist The Audit Committee is inter alia responsible for liaison with the management; internal and statutory auditors, reviewing the adequacy of internal controls and compliance with the significant policies, procedures and reporting to the Board on key issues. The idea of having independent directors… Read More »

New GST News 30.10.2018

By | October 30, 2018

New GST News 30.10.2018 [ Join online GST Course by CA Satbir Singh ] New GST News Free GST Online Course [ Videos ] by CA Satbir Singh How to reply to GST DRC 22 against proceedings initiated for recovery of Taxes How to reply to GST DRC 06 against proceedings initiated for GST collected… Read More »

Category: GST

Kerala GST Refund SOP and Process

By | October 30, 2018

Kerala GST Refund SOP and Process 1)  Nomination of HQ Nodal Officer on GST Export Refunds Click here 2)GST Refund – Constitution of Refund Facilitation Cell  (RFC) Click here 3)  GST Refund – Standard Operation Procedure (SoP) Click here 4)  GST Refund – Refund process flow Click here

Category: GST

How to reply to GST DRC 22 against proceedings initiated for recovery of Taxes

By | October 29, 2018

Reply to GST DRC 22 against proceedings initiated for recovery of Taxes GST DRC 22 : Download :Provisional attachment of property under section 83 FAQs > Filing reply to Form GST DRC-22 against proceedings initiated for recovery of taxes 1. When recovery process in GST Portal is initiated? Recovery process in GST Portal is initiated… Read More »

How to reply to GST DRC 06 against proceedings initiated for GST collected but not deposited with Government

By | October 29, 2018

Filing reply to Form GST DRC-06 FAQs > Filing reply to Form GST DRC-06 against proceedings initiated for tax collected but not deposited with Government 1. When can a Tax Official conduct Assessment/ Adjudication on a taxable person for collecting the tax but not depositing with the Government? Any person whether registered or unregistered who… Read More »

Category: GST

How to file GST DRC 06 against Proceedings initiated by GST Officer u/s 73 and 74 Related to Determination of GST

By | October 29, 2018

How to file GST DRC 06 FAQs > Filing FORM GST DRC-06 against Proceedings initiated by Tax Officer u/s 73 and 74 Related to Determination of Tax 1. What is Section 73 & 74 of CGST Act 2017? Section 73: Covers determination of tax not paid or short paid or erroneously refunded on ITC availed or… Read More »

How to file Application for Restoration of Provisional Attachment under GST

By | October 29, 2018

Application for Restoration of Provisional Attachment under GST Act Video Tutorial by CA Satbir Singh in Hindi on Application for Restoration of Provisional Attachment under GST FAQs > Filing Application for Restoration of Provisional Attachment 1. What is Restoration of Provisional Attachment? If proceedings are pending under section 62 or 63 or 64 or 67 or… Read More »

Amendments proposed in Income Tax Rules 2C, 2CA and 11AA and form no Nos. 10G, 56 and 56G

By | October 29, 2018

Ministry of Finance Draft Notification proposing Amendment of Rules 2C, 2CA and 11AA and for Nos. 10G, 56 and 56G of the Income-tax Rules, 1962 placed in public domain for inputs from stakeholders and general public Posted On: 29 OCT 2018 5:22PM by PIB Delhi Currently, for grant of approval under sub-clauses (iv) and (v) of… Read More »

Taxmann Articleship Assessment MCQs (Level I & II) (CA-Practical Training)

By | October 29, 2018

Articleship Assessment MCQs (Level I & II) (CA-Practical Training) Student may perform Articleship in particular area, but exam will expect good knowledge of many areas. So, student need to get hand on different areas of Accounts, Audit & Corporate Laws. This book covers many aspects of CA practice. ICAI has not issued any syllabus for… Read More »

Who can do GST Audit?

By | October 29, 2018

Who can do GST Audit?  Video Tutorial on Who can do GST Audit Section 35 (5) of CGST Act 2017 Every registered person whose turnover during a financial year exceeds the prescribed limit shall get his accounts audited by a chartered accountant or a cost accountant and shall submit a copy of the audited annual… Read More »

CBDT notified Revised Form 13 to implement E-process for Low /Nil TDS Certificate under Section 197/ 206C : Notification No 74/2018 Income Tax

By | October 29, 2018

CBDT notifies amended IT Rules 28, 28AA, 28AB, 37G and 37H along with Revised Form 13 to implement E-process for issue of Certificate under Section 197/ 206C for Lower/ Nil Rate of deduction/ collection of Tax (TDS/ TCS) under Income Tax, vide Notification No. 74/2018 dt. 26 Oct. 2018 (Income-tax (Eleventh Amendment) Rules, 2018), as under: Revised/… Read More »

20% demand can’t be directed to pay during pendency of stay application: Bombay HC

By | October 28, 2018

If that demand is under dispute and is subject to the appellate proceedings, then, the right of appeal vested in the petitioner/assessee by virtue of the Statute should not be rendered illusory and nugatory. That right can very well be defeated by such communication from the Revenue/Department as is impugned before us. That would mean… Read More »

CBDT circular are binding on revenue: HC

By | October 28, 2018

HIGH COURT OF BOMBAY Principal Commissioner of Income-tax, Mumbai v. Nawany Construction Co. (P.) Ltd. S.C. DHARMADHIKARI AND B.P. COLABAWALLA, JJ. IT APPEAL NO. 1142 OF 2015 SEPTEMBER  10, 2018 Arvind Pinto for the Appellant. Sameer Dalal and Ms. Namrata Kasale for the Respondent. JUDGMENT 1. When this appeal was called out, Mr. Arvind Pinto, appearing on behalf of the Revenue in support of… Read More »

Use ” Videoscope ” as Inspection tool : CBIC Chairman

By | October 28, 2018

S. Ramesh Chairman Government of India Ministry of Finance Department of Revenue Central Board of Indirect Taxes & Customs North Block, New Delhi – 110 001 Tel. : +91-11-23092849, Fax : +91-11-23092890 E-mail : chmn-cbec@nic.in D.O.No.18/CH(IC)/2018 26th October, 2018 Dear, Colleagues, The Officer Trainees of 69th Batch of IRS (C&CE) had the privilege of having… Read More »

Category: GST

Pay GST on Supply of food items to employees in Canteen for consideration : Kerala AAR

By | October 28, 2018

Supply of food items to the employees for consideration in the Canteen would come under the definition of supply and would be taxable under GST Appellate Authority of Advance Ruling : Kerala Caltech Polymers Pvt Ltd Order No CT/7726/2018-C3 Dated 25.09.2018 Download Judgement Click here Related post Other GST judgments Pay GST on Recovery of Food… Read More »

GST Input Tax Credit on Guest House Maintenance allowed : AAR

By | October 28, 2018

Input Tax Credit on Guest House Maintenance Entitlement to take credit of tax paid on various goods and services used for maintenance of applicant’s township, guest house, hospital, horticulture in its ordinary course of business. Video Explanation by CA Satbir Singh Held Guest House Maintenance  : Establishing, maintaining and furnishing guest houses including landscaping by way… Read More »

Single GST Audit or for Each GSTIN ? Explained

By | October 28, 2018

Single GST Audit or for Each GSTIN Whether GST audit will be conducted for each GSTN or PAN India Single audit will be conducted. In other words, GSTR 9C need to be filed for each GST registration or single GSTR-9C will be filed covering all registrations? Answer : one GSTR 9C for each GSTR-9  Annual return in form … Read More »

Penalty if GST Audit not done

By | October 27, 2018

Penalty if GST Audit not done There is Late Fees prescribed in Section 47 of CGST Act  for not filing GST Annual Return as per Section 44 of CGST Act. But there is no specific penalty prescribed for not getting the GST Audit done . Therefore General Penalty  as per Section 125 of CGST Act… Read More »

Category: GST

New GST Circular by CBIC on 26.10.2018

By | October 26, 2018

New GST Circular by CBIC on 26.10.2018 New GST Circular on 26.10.2018 Circular No 72/46/2018 GST : Procedure for return of time expired drugs / medicines Circular No 71/45/2018 GST : Clarification on GST Registration of casual taxable person and recovery of excess Input Tax Credit in case of Input Service distributor Circular No 70/44/2018… Read More »

Category: GST

Circular No 72/46/2018 GST : Procedure for return of time expired drugs / medicines

By | October 26, 2018

Circular No 72/46/2018 GST Circular to clarify the procedure in respect of return of time expired drugs or medicines F. No. CBEC/20/16/04/2017-GST Government of India Ministry of Finance Department of Revenue Central Board of Indirect Taxes and Customs GST Policy Wing New Delhi, Dated the 26th October, 2018 To, The Principal Chief Commissioners/Chief Commissioners/Principal Commissioners/… Read More »

Circular No 71/45/2018 GST : Clarification on GST Registration of casual taxable person and recovery of excess Input Tax Credit in case of Input Service distributor

By | October 26, 2018

Circular No 71/45/2018 GST Clarification on issues pertaining to registration as a casual taxable person & recovery of excess Input Tax Credit distributed by an Input Service distributor F. No. 349/94/2017-GST Government of India Ministry of Finance Department of Revenue Central Board of Indirect Taxes and Customs GST Policy Wing New Delhi, Dated the 26th… Read More »

Circular No 70/44/2018 GST : Clarification on certain issues related to refund

By | October 26, 2018

Circular No 70/44/2018 GST Clarification on certain issues related to refund F. No. CBEC/20/16/04/2017-GST Government of India Ministry of Finance Department of Revenue Central Board of Indirect Taxes and Customs GST Policy Wing New Delhi, Dated the 26th October, 2018 To, The Principal Chief Commissioners/ Chief Commissioners / Principal Commissioners / Commissioners of Central Tax… Read More »