Monthly Archives: November 2018

GST paid in wrong head should be adjusted by GST Officer with correct head : HC

By | November 17, 2018

I find no difficulty for the respondent officials to allow the petitioner’s request and get the amount transferred from the head ‘SGST’ to ‘IGST’. It may, as the Government Pleader has contended, take some time, but it is inequitable for the authorities to let the petitioner suffer on that count. 11. So I hold that the… Read More »

Checklist for GST Annual return and reconciliation statement

By | November 17, 2018

Checklist for GST Annual return and reconciliation statement , Government has notified the formats for Annual Return (GSTR-9) and Reconciliation (GSTR-9C). Annual return is divided into 6 parts with 19 tables, which requires taxpayers to report summary of outward supplies, inward supplies, tax paid, particulars of demands and refunds, HSN summary etc Identify Turnover It… Read More »

Category: GST

GST Annual Return : Complete Guide : GSTR 9, 9A, 9B ,9C

By | November 17, 2018

GST Annual Return : Complete Guide Here is the detailed Analysis of GST Annual Return .GSTR 9, GSTR 9A, GSTR 9B ,GSTR 9C Video Tutorial by CA Satbir Singh explaining GST Annual Return Note : Now the Govt has Notified the Format of GSTR 9 , 9A and GSTR 9C GSTR 9 of Annual Return… Read More »

Maternity Leave Incentive Scheme : 7 weeks’ wages reimbursement to employer

By | November 17, 2018

Ministry of Labour & Employment Clarification regarding Maternity Leave Incentive Scheme Posted On: 16 NOV 2018 In a section of media, there have been some reports about Maternity Leave Incentive Scheme. In this regard, the Ministry of Labour & Employment has clarified the following – Background- (i) The Maternity Benefit Act, 1961 applies to establishments employing… Read More »

Empanelment of Central Bank of India Concurrent Audit for 2019 Jan to dec

By | November 16, 2018

CENTRAL BANK OF INDIA, CENTRAL AUDIT & INSPECTION DEPT. CENTRAL OFFICE, MUMBAI GUIDELINES FOR SUBMITTING ONLINE APPLICATION FOR CONCURRENT AUDIT ASSIGNMENT IN CENTRAL BANK OF INDIA FOR THE YEAR 2019 (Jan-Dec) Last Date for filing Online Applications: 26.11.2018. PLEASE KEEP FOLLOWING INFORMATION READY: 1. BRANCH CODE OF CENTRAL BANK OF INDIA BRANCH FOR WHICH APPLICATION… Read More »

Prosecution u/s sec. 276CC of Income Tax even if no tax payable under Return : HC

By | November 16, 2018

The offence under Section 276 CC of IT Act deals with failure to comply with the obligation under Sections 139 (1) or 142(1) or 148 of IT Act. Disobedience of each said provision of law itself constitutes a distinct offence. The offence under Section 276 CC, prima facie, stood constituted upon failure on the part… Read More »

Change in Income Tax law of Charitable Trust

By | November 16, 2018

Change in tax law of Charitable Trust Analysis of amendments related to Charitable and religious trusts by Finance Act, 2017 Finance Act’2017 had made some major changes relating to Charitable and religious trusts. These amendments have far reaching impact on the taxation of Charitable and religious trusts. In this Article we have discussed four major amendments… Read More »

E-Way Bill System New FAQs

By | November 16, 2018

E-Way Bill System Dated: 01/10/2018 P a g e | 1 New FAQs (Dated: 01-10-2018) What should I do if I don’t have ‘Transporter Id’ but want to enter and generate ‘Part-A slip’? This is not possible as per rule 138(3). If the tax payer is not having the details of ‘Transporter Id’ but he… Read More »

Category: GST

GST Exemption to Indian Institute of Management : AAR

By | November 16, 2018

The Applicant is an ‘educational institution’ within the meaning of sub-clause (ii) of clause 2(y) of Notification No. 12/2017-Central Tax (Rate) dated 28/06/2017 . The Applicant is eligible for benefit for exemption under Entry No. 66(a) of Notification No. 12/2017-CT(Rate) dated 28/06/2017, being an educational institution in terms of clause 2(y) of the said notification.… Read More »

No GST Exemption to Food Supply Services to employees of SEZ : AAR

By | November 16, 2018

The Appellate Authority for Advance Ruling held that the services of supplying food by the appellant to the employees of the unit located in the Special Economic Zone is not covered under the zero rated supplies in terms of Section 16(1)(b) of the IGST Act, 2017 and the services of the appellant are also not… Read More »

Pay GST on Supply of Hotel Services to guests & employees of SEZ units, outside SEZ : AAR

By | November 16, 2018

The Hotel Accommodation & Restaurant services being provided by the Applicant, within the premises of the Hotel, to the employees & guests of SEZ units, can not be treated as supply of goods & services to SEZ units in Karnataka & hence the intra state supply and are taxable accordingly. AUTHORITY FOR ADVANCE RULINGS KARNATAKA… Read More »

No GST Exemption on renting of godown for storage of agricultural produce : GUJARAT AAR

By | November 16, 2018

AUTHORITY FOR ADVANCE RULINGS, GUJARAT Rishi Shipping., In re R.B. MANKODI AND G.C. JAIN, MEMBER ADVANCE RULING NO. GUJ/GAAR/R/2018/4 MARCH  20, 2018 Haresh Vaishnav for the Applicant. RULING 1. The applicant M/s. Rishi Shipping has submitted that the company is a Cargo Handling company operating at Kandla Port Trust under stevedoring license issued by Kandla Port and provide Cargo Handling… Read More »

No GST on e procurement transaction fee collected on behalf of ITE&C : AAR

By | November 16, 2018

Whether the e procurement transaction fee collected on behalf of ITE&C department results in supply of goods or services or both, within the meaning of supply as defined law. Whether the tax liability arises on e procurement transaction fee collected on behalf of ITE&C department. Held It is supply as defined in SGST Act 2017… Read More »

Cash Purchases disallowed because banking facilities were available : BOMBAY HC

By | November 16, 2018

Income tax discourages payment of money in cash and beyond a specified limit. That is to encourage cheque transactions and banking operations. It is in these circumstances that the Assessing Officer found that out of the total consideration of Rs. 39,00,960/-, a substantial sum has been paid in cash even though banking facilities are available… Read More »

6% Growth in Pharma Sector after GST

By | November 16, 2018

Ministry of Chemicals and Fertilizers Impact of GST has largely been positive and constructive on Pharma Sector: Shri Mansukh Mandaviya Figures show significant positive impact on Annual Turnover, Exports of Pharma Sector and Drug Approvals post implementation of GST Posted On: 15 NOV 2018 Impact of Goods and Services Tax (GST) on Pharma sector has… Read More »

Category: GST

Result of GST Practioners Exam held on 31.10.2018

By | November 15, 2018

RESULT OF EXAMINATION OF GST PRACTITIONERS HELD ON 31.10.2018 National Academy of Customs, Indirect Taxes and Narcotics (NACIN) has conducted examination for confirmation of enrollment of Goods and Services Tax Practitioners (GSTPs) in terms of second proviso to sub-rule (3) of rule 83 of the Central Goods and Services Tax Rules, 2017. The examination was… Read More »

Category: GST

Provisional Assessment under GST [Video Tutorials ]

By | November 15, 2018

Provisional Assessment under GST Video Tutorial by CA Satbir Singh  . Join and Watch Free GST Course by CA Satbir Singh Related Post Free GST Online Course [ Videos ] by CA Satbir Singh What Assessment under CGST Act? “assessment” means determination of tax liability under this Act and includes self-assessment, re-assessment, provisional assessment, summary… Read More »

Regulating Audit firms and the Network in India :experts Committee Report

By | November 15, 2018

Regulating Audit firms and the Network in India Findings and Recommendations on Regulating Audit Firms and the Networks Report October 25, 2018 The Committee of Experts to look into the regulating audit firms and the networks presents its report to the government. The findings and recommendations aim to address the issues raised by the Hon’ble Supreme… Read More »

Companies Registered Valuers and Valuation 4th Amendment Rules 2018

By | November 15, 2018

Companies Registered Valuers and Valuation 4th Amendment Rules 2018. Eligibility Qualification and Experience for Registration as Valuer Government of India Ministry of Corporate Affairs Notification New Delhi, the 13th November, 2018 G.S.R….…(E).– In exercise of the powers  conferred  by  section  247 read with section 469 of the Companies Act, 2013 (18  of  2013),  the  Central Government… Read More »

Adjudicating Authority appointed under Prohibition of Benami Property Transactions Act 1988

By | November 15, 2018

NOTIFICATION New Delhi, the 12th November, 2018 S.O.5676(E).─ In exercise of powers conferred by clause (d) of sub-section (1) of section 10 of the Prohibition of Benami Property Transactions Act, 1988 (45 of 1988), the Central Government hereby specifies that the New Delhi Bench of the Adjudicating Authority appointed under section 7 of the said… Read More »

National Financial Reporting Authority Rules 2018 : Download /Print

By | November 15, 2018

National Financial Reporting Authority Rules 2018 GOVERNMENT OF INDIA MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, 13th November’ 2018 G.S.R. -(E). ln exercise of the powers conferred under sub-sections (2) and (4)of section 32, sub-section(1) of section 139 and sub-section(1)of section 469 of the Companies Act,2013 (18of2013),the Central Government here by makes the following rules,… Read More »

GST on Long duration post graduate diploma programmes by IIM : AAR Clarify

By | November 14, 2018

Whether the long duration post graduate diploma/degree granting programmes offered by the Indian Institute of Management, Bengaluru other than specifically mentioned in Sl.No.67 of Notification No.12/2017 – Central Tax (Rate) dated 28th June 2017 as amended by Notification No.2/2018 dated 25th January 2018 are exempted from the GST output liability on education as a part… Read More »

How to Accept GST TDS deducted by Deductee

By | November 14, 2018

Steps for Acceptance of TDS Credit by Deductee under GST w.e.f 01.10.2018 any eligible payment received from the Specified persons where contract price exceeding RS 2.50 Lakhs , [1% CGST & 1% SGST/UTGST ( In case of Intra State Supply of Goods / Services)] or [2% IGST ( In case of Inter State Supply of… Read More »

Category: GST

UP GST Deptt to do e-hearing assessment of corporate dealers

By | November 14, 2018

Uttar Pradesh GST Department to conduct e-hearing assessment of corporate dealers for transparency and minimum interface with trader.   Uttar Pradesh GST Department has decided to make assessment of corporate dealers through e-hearing by letter No 94/1819062 Dated 02.11.2018 Earlier a corporate circle was formed with the objective that in each zone jurisdiction for top… Read More »

How to file Appeal against GST Demand Order :FAQ and User Manual

By | November 14, 2018

Filing an Appeal against GST Demand Order :FAQ and User Manual Video Tutorial by CA Satbir Singh (Voice in Hindi , Slides in English)  explaining how to file Appeal against GST Demand Order FAQs > Filing an Appeal against Demand Order 1. Who can file an appeal to the Appellate Authority? Any taxpayer or an… Read More »

Multiple Vehicle Option for e-Way bill on Eway Bill Portal

By | November 14, 2018

Multi Vehicle Option for e-Way bill Video Explanation on Multi Vehicle Option for e-Way bill Video Tutorial by CA Satbir Singh (Voice in Hindi , Slides in English) The new option has been introduced on Eway Bill System (https://ewaybillgst.gov.in) wherein the consignment of one e-way bill has to be moved in multiple vehicles, after moving to transshipment… Read More »

How to get GST TDS Refund

By | November 14, 2018

How to get GST TDS Refund GST Law also mandates Tax Deduction at Source (TDS) vide Section 51 of the CGST/SGST Act 2017, Section 20 of the IGST Act, 2017 and Section 21 of the UTGST Act, 2017. GST Council in its 28th meeting held on 21.07.2018 recommended the introduction of TDS from 01.10.2018. [ Refer Notification… Read More »

GST Summary Assessment [ Video Tutorial ]

By | November 14, 2018

Summary Assessment under GST Video Tutorial by CA Satbir Singh  . Join and Watch Free GST Course by CA Satbir Singh Related Post Free GST Online Course [ Videos ] by CA Satbir Singh What Assessment under CGST Act? “assessment” means determination of tax liability under this Act and includes self-assessment, re-assessment, provisional assessment, summary… Read More »

6 New E-way Bill Changes from 16.11.2018

By | November 14, 2018

National Informatics Centre E-way Bill Project Proposed improvements in e-way bill generation, being released on 16.11.2018 1. Checking of duplicate generation of e-way bills based on same invoice number The e-way bill system is enabled not to allow the consignor/supplier to generate the duplicate e-way bills based on his one document. Here, the system checks… Read More »

GST rates on job work activity of custom milling of paddy : Chhattisgarh AAR Clarify

By | November 14, 2018

Tax liability in the business of job work activity of custom milling of paddy involving milling activity, transportation of rice and usage charges of gunny bags. Held It is Composite Supply and principal Supply is  custom milling of paddy . Therefore GST Rates is 5% Chhattisgarh Authority of Advance Ruling Taranjeet Singh Tuteja & Brothers… Read More »

GST Interest Rates : When and How Much : Notifications wise

By | November 13, 2018

GST Interest Rates : Free Study Material Here is the Free study Material on GST interest Rates Video Tutorial by CA Satbir Singh (Voice in Hindi , Slides in English)  explaining GST Interest Rates   [Join GST Online Course by CA Satbir Singh ] GST Interest Rates : General Points Comment GST Interest has to be paid… Read More »

Corrigendum to Notification No 60/2018-Central Tax, dated the 30th October, 2018

By | November 12, 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 Excise and Customs Corrigendum New Delhi, the 12th November, 2018 G.S.R. (E).:- In the notification of the Government of India, in the Ministry of Finance, Department of Revenue,… Read More »

5 Key Points about GST Summary Assessment

By | November 12, 2018

GST Summary Assessment Key Points of GST Summary Assessment Explained by CA Satbir Singh Key Point 1 The proper officer can not do suo-moto  summary Assessment He has to obtain prior permission of Additional/Joint Commissioner to proceed to assess the tax liability. Key Point 2 summary assessment can not be initiated mere change in opinion… Read More »

Govt should issue order for correction of error in TRAN-1 : HC

By | November 12, 2018

HIGH COURT OF BOMBAY O/E/N India Ltd. v. Union of India M.S. SANKLECHA AND RIYAZ I. CHAGLA, JJ. WRIT PETITION NO. 2086 OF 2018 SEPTEMBER  26, 2018 Dr. Abhinav Chandrachud for the Petitioner. Pradeep S. Jetly, J.B. Mishra and Ms. Jyoti Chavan, AGP for the Respondent. ORDER 1. This Petition under Article 226 of the Constitution of India seeks a direction to the Respondent No.… Read More »