Dear Professional Colleague, Greetings from Indirect Taxes Committee! The Central government has been taking various steps towards the implementation of the country’s most ambitious indirect tax reform of Goods and Services Tax which is expected to roll out from 1st July 2017. The GST Act(s) have been finalised along with 8 GST Rules as approved… Read More »
Requirement of Chartered Accountants /MBA in Indirect Taxes Committee, Institute of Chartered Accountants of India The Institute of Chartered Accountants of India (ICAI) is a statutory body established under the Chartered Accountants Act, 1949 (Act No. XXXVIII of 1949) for the regulation of the profession of Chartered Accountants in India. The Indirect Taxes Committee is… Read More »
CBDT notifies transactions for which the condition of chargeability to STT for claiming exemption under Section 10(38) of the Income Tax Act, 1961 shall not apply. Section 10(38) of the Income-tax Act, 1961 (‘the Act’), prior to its amendment by Finance Act, 2017 provided that the income arising by way of a transfer of long term capital… Read More »
Q: Will there be GST in A & N (Andoman and Nicobar ) Islands – previously there was no VAT..? Yes. For supplies within A& N, CGST plus UTGST would be leviable [ Reply as per Twitter Account of Govt of India for GST queries of Taxpayers ] Read Other related GST Questions / Queries replied
Q: Hello.. i wanted to know, If GST would be charged on export of services to Nepal.. as invoicing is done in INR (Indian Rupees) for Nepal ? Present procedures will continue [ Reply as per Twitter Account of Govt of India for GST queries of Taxpayers ] Read Other related GST Questions / Queries replied
Q: If good laying at Branches supplied from area based exemption unit, whether ITC on appointment day will be available or not ? Yes, please see Section 140 (3) [ Reply as per Twitter Account of Govt of India for GST queries of Taxpayers ] Read Other related GST Questions / Queries replied
Q: sir if in vat return refund claimed in june 17 & no brough Forward credit in GST. Then what’s the position of submission of Form C & H ? This would be handled under VAT law of the respective State [ Reply as per Twitter Account of Govt of India for GST queries of Taxpayers ]… Read More »
A Quick Guide To Indian Accounting Standards (Ind AS) Paperback – 2017 by Chintan N. Patel / Bhupendra Mantri , Amarjit Chopra Description : Incorporating: A Comprehensive & Simplified Guide to Ind AS Comparative Study of IFRS/Indian GAAP/Ind AS Ind AS Carve outs FAQs on Ind AS Schedule III Financial Format Income Computation & Disclosure Standards Ind AS… Read More »
Q: what will be the impact of closing stock which has been already paid vat on 1st July 2017 ? The supplier would be eligible to carry forward ITC on such stock and would be liable to pay GST when supplied in new regime. [ Reply as per Twitter Account of Govt of India for GST… Read More »
Q: Whether maritime commissioner will be there for rebate and refund on export, in GST regime? If not, how rebate be sanctioned? Refund will be sanctioned by the jurisdictional Commissioners of GST. [ Reply as per Twitter Account of Govt of India for GST queries of Taxpayers ] Read Other related GST Questions / Queries replied