Daily Archives: October 12, 2018

Officers appointed under State GST Act are proper officers under IGST Act : High Court

By | October 12, 2018

 On due consideration of the arguments of the learned counsel for the parties so also the provisions of Section 4 of the IGST Act, we are of the view that officers appointed under the MPGST Act are authorized to be proper officers for the purpose of IGST and, therefore, the contention of the petitioner that… Read More »

Ethanol Blended with Petrol Programme : New Notification for changes : 11.10.2018

By | October 12, 2018

MINISTRY OF CONSUMER AFFAIRS, FOOD AND PUBLIC DISTRIBUTION (Department of Food and Public Distribution) NOTIFICATION New Delhi, the 11th October, 2018 S.O. 5219(E).—Whereas the Central Government, with a view to increase production of ethanol and its supply under Ethanol Blended with Petrol (EBP) Programme, especially in the surplus seasons and thereby to improve the liquidity… Read More »

Sovereign Gold Bond 2018-19 Series-II-Issue Price

By | October 12, 2018

Sovereign Gold Bond 2018-19 Series-II-Issue Price Date : Oct 12, 2018 In terms of GoI notification F.No.4(22)-W&M/2018 and RBI circular IDMD.CDD.No.821/14.04.050/2018-19 dated October 08, 2018, the Sovereign Gold Bond Scheme 2018-19 – Series II will be opened for subscription for the period from October 15, 2018 to October 19, 2018. The nominal value of the bond based on the… Read More »

Category: RBI

Online portal for grant of Industrial Licence

By | October 12, 2018

Ministry of Commerce & Industry Online portal for grant of Industrial Entrepreneurs’ Memorandum and Industrial Licence Department of Industrial Policy and Promotion (DIPP) has developed a new online portal for facilitating filing of online applications for Industrial Entrepreneurs’ Memorandum (IEM) and Industrial Licence (IL) under Arms Act as well as Industries (Development & Regulation)[I(D&R)] Act, 1951… Read More »

New GST News 12.10.2018

By | October 12, 2018

New GST News 12.10.2018 [ Join online GST Course by CA Satbir Singh ] New GST News Free GST Online Course [ Videos ] by CA Satbir Singh Input tax Credit available on Demo Car used by vehicle dealer : AAR Reverse ITC availed on Pro rata basis on sale of plot after completion :… Read More »

Category: GST

Input tax Credit available on Demo Car used by vehicle dealer : AAR

By | October 12, 2018

Input tax Credit available on Demo Car/ Test Drive car Input tax paid on purchase of goods used for demonstration purpose to customer can be availed as input tax credit on capital goods and set off against output tax payable under GST Explanation by CA Satbir Singh AUTHORITY FOR ADVANCE RULINGS, KERALA A.M. Motors., In re… Read More »

Reverse ITC availed on Pro rata basis on sale of plot after completion : AAR

By | October 12, 2018

It is lawful to structure agreement by fixing land cost after absorbing development charges. Input Tax Credit availed in respect of GST paid on goods and/or services used/consumed for development of land, in respect of plots sold after issuance of Completion Certificate is liable to be reversed on pro rata basis AUTHORITY FOR ADVANCE RULINGS,… Read More »

Transfer of right to use of any goods for any purpose is liable for GST : AAR

By | October 12, 2018

The transfer of right to use of any goods for any purpose is liable to GST. Free medical instrument supplied with other goods to hospitals, for a specific period constitute composite supply liable to GST under Sr. No. 17(iii) – Heading 9973 as transfer of right to use of any goods for any purpose Placement… Read More »

Revised interest rate on Staff Provident Fund in EPFO : Oct to Dec 2018

By | October 12, 2018

Revised rate of interest – with regard to Staff Provident Fund in EPFO HO No. HRD/3(2)2012/SPF/63 dated 10/10/2018 RESOLUTION It is announced for general information that during the year 2018-2019, accumulations at the credit of subscribers to the General Provident Fund and other similar funds shall carry interest at the rate of 8% (Eight percent)… Read More »

Processing of Income Tax Returns with refund claims if not processed due to technical or other reasons

By | October 12, 2018

Processing of returns with refund claims which were not processed within the time allowed u/s 143(1) due to some technical or other reasons ITBA-Processing Instruction No 4 DIRECTORATE OF INCOME TAX (SYSTEM) ARA Center, Ground Floor, E-2, Jhandewalan Extension, New Delhi – 110055 F.No. System/ITBA/Instruction/ITR Processing/177/16-17/ Dated: 08.10.2018 To, All Principal Chief Commissioners of Income-tax/CCsIT… Read More »