Monthly Archives: February 2018

GST on Services provided by the Resident Welfare Associations to members

By | February 8, 2018

Ministry of Finance GST Council recommends granting relief from GST on services provided by the Resident Welfare Associations (RWAs) to their Members Threshold Exemption Limit under GST for monthly contributions made by members for services provided by RWAs raised from Rs. 5,000 to Rs. 7,500 per month per person Posted On: 07 FEB 2018 1:47PM… Read More »

 GST rate on admission to amusement parks and ballet etc, reduced from 28% to 18%.

By | February 8, 2018

Ministry of Finance  GST rate on admission to amusement parks and ballet etc, reduced from 28% to 18%. Posted On: 07 FEB 2018 1:47PM by PIB Delhi  ​ In its  Meeting held on 18th January, 2018, the GST Council had recommended reduction of GST rate on services by way of admission to Amusement Parks including theme parks, water… Read More »

Reassessment notice issued after 4 years without prior approval of Commissioner quashed : High Court

By | February 7, 2018

HIGH COURT OF CHHATTISGARH Maruti Clean Coal & Power Ltd. v. Assistant Commissioner of Income-tax, Circle 1(1), Chhattisgarh P. SAM KOSHY, J. WRIT PETITION (T) NO. 346 OF 2017 JANUARY  3, 2018 Salil Kapoor, Ms. Soumya Singh and Amrito Das, Advs. for the Petitioner. Smt. Naushina Afrin Ali, Adv. for the Respondent. JUDGMENT 1. With the consent of the parties the matter was heard… Read More »

Value of unquoted equity shares of ‘Start Up’ companies rejected : No action : CBDT

By | February 7, 2018

F.No. 173/14/2018-ITA.1 Government of India Ministry of Finance Department of Revenue (CBDT) North Block, New Delhi, dated the 6′” of February, 2018 To All Principal Chief-Commissioners of Income-tax Madam/Sir Subject: Determination of fair market value of unquoted equity shares of ‘Start Up’ companies under section 56(2)(viib) of the Income-tax Act read with Rule llUA(2) of… Read More »

GST Settlement of Funds (Amendment) Rules 2018.

By | February 7, 2018

MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION New Delhi, the 6th February, 2018 G.S.R. 145(E).—In exercise of the powers conferred by section 53 read with section 17 of the Central Goods and Services Tax Act, 2017 (12 of 2017), sections 17 and 18 of the Integrated Goods and Services Tax Act, 2017 (13 of 2017)… Read More »

Category: GST

Section 130 of Punjab GST Act 2017 : Confiscation of goods or conveyances and levy of penalty.

By | February 6, 2018

Section 130 of Punjab GST Act 2017 ( Section 130 of Punjab GST Act 2017 explains Confiscation of goods or conveyances and levy of penalty and is covered in  CHAPTER XIX OFFENCES AND PENALTIES )  Confiscation of goods or conveyances and levy of penalty. 130. (1) Notwithstanding anything contained in this Act, if any person – (i) supplies or… Read More »

Section 129 of Punjab GST Act 2017 : Detention seizure and release of goods and conveyances in transit.

By | February 6, 2018

Section 129 of Punjab GST Act 2017 ( Section 129 of Punjab GST Act 2017 explains Detention seizure and release of goods and conveyances in transit and is covered in  CHAPTER XIX OFFENCES AND PENALTIES )  Detention seizure and release of goods and conveyances in transit. 129. (1) Notwithstanding anything contained in this Act, where any person transports any… Read More »

Section 128 of Punjab GST Act 2017 : Power to waive penalty or fee or both.

By | February 6, 2018

Section 128 of Punjab GST Act 2017 ( Section 128 of Punjab GST Act 2017 explains  Power to waive penalty or fee or both and is covered in  CHAPTER XIX OFFENCES AND PENALTIES )   Power to waive penalty or fee or both. 128. The Government may, by notification, waive in part or full, any penalty referred to in section… Read More »