Daily Archives: November 16, 2018

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