Daily Archives: November 9, 2018

ITC on Goods & Services used for creating sheds & Foundation of Plant & Machinery : AAR clarify

By | November 9, 2018

Whether the applicant is eligible to take GST input on Goods which are used for installation (Foundation)of Plant and Machinery? Whether the applicant is eligible to take input on services which are used for installation (Foundation) of plant and machinery? Whether the applicant is eligible to take GST input on Goods which are used for… Read More »

No let-up in sanction of GST Refunds

By | November 9, 2018

Ministry of Finance No let-up in sanction of GST Refunds Posted On: 08 NOV 2018 There are concerns being raised about growing pendency of GST Refunds. Exporters arereassured that there is no le-tup in the sanction of GST refunds. The disposal rate is consistently improving month-on-month. As on 31st October, 2018, total GST refunds to the… Read More »

ISA Assessment Test (ISA – AT) December 2018

By | November 9, 2018

THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA IMPORTANT ANNOUNCEMENT Subject: Information System Audit – Assessment Test (ISA – AT), December 2018 Members are hereby informed that the next Information Systems Audit (ISA) Course Assessment Test which is open to the members of the Institute, will be held on 22 nd December, 2018 (Saturday) from 9.00… Read More »

GST on Jobwork done for foreign customer on imported materials and re-exporting the same : AAR Clarify

By | November 9, 2018

Taxability of Jobwork done for imported materials i.e TEA  and re-exporting the same. Held The place of supply for this transaction shall be “location where services are actually performed” as per Section 13(3)(a) of IGST Act 2017 The process of providing job work service to the foreign principal , in the premises of the applicant as… Read More »

Applicability of GST on Free Sample Supplies

By | November 9, 2018

Applicability of GST on Free Sample Supplies A taxable event under GST is supply of goods or services for which GST is leviable. Section 7 of GST Act deals with the term supply and the it states: “All forms of supply of goods or services or both such as sale, transfer, barter, exchange, license, rental,… Read More »

Category: GST

Procedure and mechanism for sale of enemy shares

By | November 9, 2018

Cabinet approves Laying down procedure and mechanism for sale of enemy shares The Union Cabinet chaired by Prime Minister Shri Narendra Modi has approved the mechanism and procedure for sale of the enemy shares. Details are as follows:  ‘In principle’ approval has been accorded for sale of enemy shares under the Custody of Ministry of… Read More »