GST on goods taken out of India for exhibition or on consignment basis for export promotion

By | July 21, 2019

PRESS RELEASE Clarification in respect of goods taken out of India for exhibition or on consignment basis for export promotion 19 July, 2019 Several goods are taken out of India on consignment basis for exhibitions or other export promotion events. These goods are sold only when approved by the prospective customers abroad. The unsold goods… Read More »

Category: GST

ICAI Flagged Issues in Finance Bill 2019 (Direct Tax) by Post Budget Memorandum 2019

By | July 21, 2019

POST-BUDGET MEMORANDUM – 2019 DIRECT TAXES THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA NEW DELHI POST-BUDGET MEMORANDUM – 2019 1. INTRODUCTION 1.0 The Council of the Institute of Chartered Accountants of India considers it a privilege to submit this Post-Budget Memorandum to the Government. 1.1 In this memorandum, we have suggested certain amendments to the… Read More »

Sec 54F time limit for Purchase of House should be considered from date of agreement to sell

By | July 20, 2019

HIGH COURT OF GUJARAT Kishorbhai Harjibhai Patel v. Income Tax Officer J.B. PARDIWALA AND A.C. RAO, JJ. R/TAX APPEAL NO.1378 OF 2018 JULY  8, 2019 B.S. Soparkar for the Appellant. Varun K. Patel for the Respondent. B.S. Soparkar for the Appellant. Varun K. Patel for the Respondent. JUDGMENT   J.B. Pardiwala, J. – This Tax Appeal under Section 260A of the Income Tax Act,… Read More »

New Rule to Unblock E way Bill under GST : Rule 138E CGST

By | July 20, 2019

New Rule to Unblock E way Bill under GST : Rule 138E CGST Rule – 138E, Central Goods and Services Tax Rules, 2017 ……. Provided that the Commissioner may, on receipt of an application from a registered person in FORM GST EWB-05, on sufficient cause being shown and for reasons to be recorded in writing, by… Read More »

Scrip Wise details of long term capital gains in Schedule 112A of ITR is optional – CBDT

By | July 20, 2019

As per advisory hosted at income tax e-filing website, Schedule 112A and 115AD(1)(iii) of long term capital gain are provided in the Income Tax Return software as per the Instructions to the Notified ITR form and based on taxpayer feedback. The advisory says that taxpayers have an option to either enter the Scrip wise details… Read More »

Circular No 108/27/2019 GST : CBIC clarify GST on Goods sent out of India for exhibition or on consignment basis for export promotion

By | July 19, 2019

which seeks to clarify issues regarding procedure to be followed in respect of goods sent / taken out of India for exhibition or on consignment basis for export promotion. Circular No. 108/27/2019-GST CBEC-20/06/03/2019-GST Government of India Ministry of Finance Department of Revenue Central Board of Indirect Taxes and Customs GST Policy Wing New Delhi, Dated… Read More »

Circular No 107/26/2019 GST : Information Technology enabled Services Clarified by CBIC

By | July 19, 2019

which seeks to clarify various doubts related to supply of Information Technology enabled Services (ITeS services) Circular No. 107/26/2019-GST CBEC-20/06/03/2019-GST Government of India Ministry of Finance Department of Revenue Central Board of Indirect Taxes and Customs GST Policy Wing New Delhi, Dated the 18th July, 2019 To, The Principal Chief Commissioners / Chief Commissioners /… Read More »