PFRDA rolls-out Aadhar Powered Digital on Boarding into APY through eNPS platform for wider reach; Benefits of APY@eNPS include paperless registration; No need to visit Bank Branch & to have Banking Id and 24*7 Online En-rollment at the customer’s convenience. Pension Fund Regulatory and Development Authority (PFRDA) has embarked upon several digital friendly steps for… Read More »
HIGH COURT OF BOMBAY Sadhana Rajendra Jain v. Central Board of Direct Taxes S.C. DHARMADHIKARI AND SMT. VIBHA KANKANWADI, JJ. WRIT PETITION NO. 8066 OF 2017 AUGUST 29, 2017 Rohan Deshpande for the Petitioner. S.V. Walve for the Respondent. ORDER 1. This petition was placed before us on 14-8-2017 but due to paucity of time it could not be taken… Read More »
Refund of IGST paid on export of goods. Filing of correct EGM is a must for treating shipping bill/bill of export as a refund claim as the details in EGM should match GSTR-1 Instruction No. 15/2017-Customs F. No. 450/119/2017-Cus IV Government of India Ministry of Finance Department of Revenue (Central Board of Excise & Custom)… Read More »
No extension of last date for filing GSTR-1 for July, 2017 The last date for filing GSTR-1 for the month of July, 2017 is 10th October, 2017. An extension of two months has already been given. There will be no further extension given to taxpayers for filing their GSTR-1 return for July. Taxpayers who have not yet… Read More »
Suggestions on GST Implementation Issues 28.09.2017 by ICAI Indirect Tax Committee Law Related Issues 40. Time Limit of 1 year for taking Input Tax Credit for Capital Goods Section 18(1) of CGST Act, 2017 provides that subject to such conditions and restrictions as may be prescribed— (a) a person who has applied for registration under… Read More »
Suggestions on GST Implementation Issues 28.09.2017 by ICAI Indirect Tax Committee Law Related Issues 39. Exempt Supply becoming Taxable Supply Section 18(1) of CGST Act provides that a person who has applied for registration under this Act within 30 days from the date on which he becomes liable to registration and has been granted such… Read More »
Suggestions on GST Implementation Issues 28.09.2017 by ICAI Indirect Tax Committee Law Related Issues 38. Denial of Credit on Goods Confiscated or detained Clause i of Section 17(5) of CGST Act provides that input tax credit shall not be available in respect of the any tax paid in terms of section 74, section 129 or… Read More »
Suggestions on GST Implementation Issues 28.09.2017 by ICAI Indirect Tax Committee Law Related Issues 37. Disallowance of Credit in respect of works contract services Clause c Section 17(5) of CGST Act provides that works contract services when supplied for construction of immovable property, other than plant and machinery, except where it is an input service… Read More »
Suggestions on GST Implementation Issues 28.09.2017 by ICAI Indirect Tax Committee Law Related Issues 36. Ensuring free flow of credit There is no requirement to create such a degree of suspicion about business and personal expenses. If the business needs justify the expense, then subject to the safeguard in section 17(1), credit should not be… Read More »
Suggestions on GST Implementation Issues 28.09.2017 by ICAI Indirect Tax Committee Law Related Issues 35. Blocking of Input Tax Credit for certain set of Services Section 17(5)(b) of CGST Act, 2017 provides that no input tax credit is available on supply of goods or services or both: — i) food and beverages, outdoor catering, beauty… Read More »