Daily Archives: March 24, 2018

HC allowed Credit of clean energy cess paid on coal for payment of GST compensation cess

By | March 24, 2018

Petitioner here will continue to pay the taxes as and when they fall due after availing and utilizing the credit for the cess already paid. This will, however, be subject to the final orders passed by this Court. HIGH COURT OF DELHI Hind Energy & Coal Benefication (India) Ltd. v. Union of India S. MURALIDHAR AND PRATHIBA… Read More »

ICAI suggests SUF Model for GST returns

By | March 24, 2018

lCAl Suggests the SUF Model (Simplified User-Friendlv Model) on return filing & enabling of credit ‘The model could be follows: 1. Supplier will upload summary information from B2B invoices on real time basis up to 10th of the following month. The summary information will be limited to those relevant for purposes of allowing credit, namely: a)… Read More »

E-Insurance Accounts: 15,21,907 accounts opened as on 15.03.2018

By | March 24, 2018

Ministry of Finance E-Insurance Accounts: 15,21,907 accounts opened as on 15th March 2018 Posted On: 23 MAR 2018 5:32PM by PIB Delhi As per Insurance Regulatory and Development Authority of India (IRDAI), the number of customers who have opened e-insurance accounts as on 15th March 2018 are 15,21,907. However, e-insurance accounts are only for storing insurance… Read More »

Goods & Services Tax (GST) collections

By | March 24, 2018

Ministry of Finance Goods & Services Tax (GST) collections Posted On: 23 MAR 2018 5:36PM by PIB Delhi The month-wise consolidated figures of Central Goods and Services Tax (CGST), State Goods and Services Tax (SGST), Integrated Goods and Services Tax (IGST) and Cess collected by the Government since July 1, 2017 is as under: (Amount in… Read More »

User Friendly GSTN : Survey

By | March 24, 2018

Ministry of Finance User-Friendly Goods and Services Tax Network (GSTN) Posted On: 23 MAR 2018 5:38PM by PIB Delhi        Goods and Services Tax Network (GSTN) has sought the views of the taxpayers about their experience and difficulties.  A survey was conducted by GSTN on overall taxpayer’s satisfaction during the months of October 2017 & November… Read More »

Relaxation of Norms for NPS -National Pension Scheme

By | March 24, 2018

Ministry of Finance Relaxation of Norms for NPS Posted On: 23 MAR 2018 5:42PM by PIB Delhi The Government of India has recently made three changes in the National Pension Scheme (NPS) including withdrawal norms. The details are as under:   Partial withdrawal during the service: The Pension Fund Regulatory and Development Authority (PFRDA), with… Read More »

Prosecution against 780 listed companies filed for not filing annual returns

By | March 24, 2018

Ministry of Corporate Affairs Ministry of Corporate Affairs (MCA) has filed prosecution against 780 listed companies under various sections of Companies Act, 2013 due to non-filing of Financial Statements and Annual Returns Posted On: 23 MAR 2018 6:42PM by PIB Delhi The Government has taken any steps against listed companies which are not functioning. Ministry… Read More »

Companies’ registrations increased after GST

By | March 24, 2018

Ministry of Corporate Affairs After introduction of GST, increasing trend in the number of companies’ registrations, industrial activity has accelerated and growth in sales for corporates has also seen a remarkable increase Posted On: 23 MAR 2018 6:45PM by PIB Delhi Introduction of GST was a historical step for transforming India into a common national… Read More »

Section 143 of Uttarakhand GST Act 2017 : Jobwork procedure

By | March 24, 2018

Section 143 of Uttarakhand GST Act 2017 ( Section 143 of Uttarakhand GST Act 2017 explains Jobwork procedure and is covered in  CHAPTER XXI MISCELLANEOUS)  Jobwork procedure 143. (1) A registered person (hereafter in this section referred to as the “principal”) may, under intimation and subject to such conditions as may be prescribed, send any inputs or capital… Read More »

Section 142 of Uttarakhand GST Act 2017 : Miscellaneous transitional provisions

By | March 24, 2018

Section 142 of Uttarakhand GST Act 2017 ( Section 142 of Uttarakhand GST Act 2017 explains Miscellaneous transitional provisions and is covered in  CHAPTER XX TRANSITIONAL PROVISIONS)  Miscellaneous transitional provisions 142. (1)Where any goods on which tax, if any, had been paid under the existing law at the time of sale thereof, not being earlier than six months prior to the appointed… Read More »

Section 141 of Uttarakhand GST Act 2017 : Transitional provisions relating to jobwork

By | March 24, 2018

Section 141 of Uttarakhand GST Act 2017 ( Section 141 of Uttarakhand GST Act 2017 explains Transitional provisions relating to jobwork and is covered in  CHAPTER XX TRANSITIONAL PROVISIONS)  Transitional provisions relating to jobwork 141. (1)Where any inputs received at a place of business had been despatched as such or despatched after being partially processed to a jobworker for further processing, testing, repair, reconditioning… Read More »

Section 140 of Uttarakhand GST Act 2017 : Transitional arrangements for input tax credit

By | March 24, 2018

Section 140 of Uttarakhand GST Act 2017 ( Section 140 of Uttarakhand GST Act 2017 explains Transitional arrangements for input tax credit and is covered in  CHAPTER XX TRANSITIONAL PROVISIONS)  Transitional arrangements for input tax credit 140. (1) A registered person, other than a person opting to pay tax under section 10, shall be entitled to take, in… Read More »

Section 139 of Uttarakhand GST Act 2017 : Migration of existing taxpayers

By | March 24, 2018

Section 139 of Uttarakhand GST Act 2017 ( Section 139 of Uttarakhand GST Act 2017 explains Migration of existing taxpayers and is covered in  CHAPTER XX TRANSITIONAL PROVISIONS)  Migration of existing taxpayers 139. (1) On and from the appointed day, every person registered under any of the existing laws and having a valid Permanent Account Number shall be… Read More »

Section 138 of Uttarakhand GST Act 2017 : Compounding of offences

By | March 24, 2018

Section 138 of Uttarakhand GST Act 2017 ( Section 138 of Uttarakhand GST Act 2017 explains Compounding of offences and is covered in  CHAPTER XIX OFFENCES AND PENALTIES)  Compounding of offences 138. (1) Any offence under this Act may, either before or after the institution of prosecution, be compounded by the Commissioner on payment, by the person accused… Read More »

Section 137 of Uttarakhand GST Act 2017 : Offences by Companies

By | March 24, 2018

Section 137 of Uttarakhand GST Act 2017 ( Section 137 of Uttarakhand GST Act 2017 explains Offences by Companies and is covered in  CHAPTER XIX OFFENCES AND PENALTIES)  Offences by Companies 137. (1) Where an offence committed by a person under this Act is a company, every person who, at the time the offence was committed was in… Read More »

Section 136 of Uttarakhand GST Act 2017 : Relevancy of statements under certain circumstances

By | March 24, 2018

Section 136 of Uttarakhand GST Act 2017 ( Section 136 of Uttarakhand GST Act 2017 explains Relevancy of statements under certain circumstances and is covered in  CHAPTER XIX OFFENCES AND PENALTIES)  Relevancy of statements under certain circumstances 136. A statement made and signed by a person on appearance in response to any summons issued under section 70 during… Read More »

Section 135 of Uttarakhand GST Act 2017 : Presumption of culpable mental state

By | March 24, 2018

Section 135 of Uttarakhand GST Act 2017 ( Section 135 of Uttarakhand GST Act 2017 explains Presumption of culpable mental state and is covered in  CHAPTER XIX OFFENCES AND PENALTIES)  Presumption of culpable; mental state 135. In any prosecution for an offence under this Act which requires a culpable mental state on the part of the accused, the… Read More »

Section 134 of Uttarakhand GST Act 2017 : Cognizance of offences

By | March 24, 2018

Section 134 of Uttarakhand GST Act 2017 ( Section 134 of Uttarakhand GST Act 2017 explains Cognizance of offences and is covered in  CHAPTER XIX OFFENCES AND PENALTIES)  Cognizance of offences 134. No court shall take cognizance of any offence punishable under this Act or the rules made thereunder except with the previous sanction of the Commissioner, and… Read More »

Section 133 of Uttarakhand GST Act 2017 : Liability of officers and certain other persons

By | March 24, 2018

Section 133 of Uttarakhand GST Act 2017 ( Section 133 of Uttarakhand GST Act 2017 explains Liability of officers and certain other persons and is covered in  CHAPTER XIX OFFENCES AND PENALTIES)  Liability of officers and certain other persons 133. (1) Where any person engaged in connection with the collection of statistics under section 151 or compilation or… Read More »

Section 132 of Uttarakhand GST Act 2017 : Punishment for certain offences

By | March 24, 2018

Section 132 of Uttarakhand GST Act 2017 ( Section 132 of Uttarakhand GST Act 2017 explains Punishment for certain offences and is covered in  CHAPTER XIX OFFENCES AND PENALTIES)  Punishment for certain offences 132. (1) Whoever commits any of the following offences, namely:— (a) supplies any goods or services or both without issue of any invoice, in violation… Read More »

Section 131 of Uttarakhand GST Act 2017 : Confiscation or penalty not to interfere with other punishments

By | March 24, 2018

Section 131 of Uttarakhand GST Act 2017 ( Section 131 of Uttarakhand GST Act 2017 explains Confiscation or penalty not to interfere with other punishments and is covered in  CHAPTER XIX OFFENCES AND PENALTIES)  Confiscation or penalty not to interfere with other punishments 131. Without prejudice to the provisions contained in the Code of Criminal Procedure, 1973 (2… Read More »

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

By | March 24, 2018

Section 130 of Uttarakhand GST Act 2017 ( Section 130 of Uttarakhand 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 Uttarakhand GST Act 2017 : Detention, seizure and release of goods and conveyances in transit

By | March 24, 2018

Section 129 of Uttarakhand GST Act 2017 ( Section 129 of Uttarakhand 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 Uttarakhand GST Act 2017 : Power to waive penalty or fee or both

By | March 24, 2018

Section 128 of Uttarakhand GST Act 2017 ( Section 128 of Uttarakhand 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 »

Section 127 of Uttarakhand GST Act 2017 : Power to impose penalty in certain cases

By | March 24, 2018

Section 127 of Uttarakhand GST Act 2017 ( Section 127 of Uttarakhand GST Act 2017 explains Power to impose penalty in certain cases and is covered in  CHAPTER XIX OFFENCES AND PENALTIES)   Power to impose penalty in certain cases 127. Where the proper officer is of the view that a person is liable to a penalty and the… Read More »

Section 126 of Uttarakhand GST Act 2017 : General disciplines related to penalty

By | March 24, 2018

Section 126 of Uttarakhand GST Act 2017 ( Section 126 of Uttarakhand GST Act 2017 explains General disciplines related to penalty and is covered in  CHAPTER XIX OFFENCES AND PENALTIES)   General disciplines related to penalty 126. (1) No officer under this Act shall impose any penalty for minor breaches of tax regulations or procedural requirements and in particular,… Read More »

Section 125 of Uttarakhand GST Act 2017 : General penalty

By | March 24, 2018

Section 125 of Uttarakhand GST Act 2017 ( Section 125 of Uttarakhand GST Act 2017 explains General penalty and is covered in  CHAPTER XIX OFFENCES AND PENALTIES)  General penalty 125. Any person, who contravenes any of the provisions of this Act or any rules made thereunder for which no penalty is separately provided for in this Act, shall… Read More »

Section 124 of Uttarakhand GST Act 2017 : Fine for failure to furnish statistics

By | March 24, 2018

Section 124 of Uttarakhand GST Act 2017 ( Section 124 of Uttarakhand GST Act 2017 explains Fine for failure to furnish statistics and is covered in  CHAPTER XIX OFFENCES AND PENALTIES)  Fine for failure to furnish statistics 124. If any person required to furnish any information or return under section 151,— (a) without reasonable cause fails to furnish… Read More »

Section 123 of Uttarakhand GST Act 2017 : Penalty for failure lo furnish information return

By | March 24, 2018

Section 123 of Uttarakhand GST Act 2017 ( Section 123 of Uttarakhand GST Act 2017 explains Penalty for failure lo furnish information return and is covered in  CHAPTER XIX OFFENCES AND PENALTIES)  Penalty for failure lo furnish information return 123. If a person who is required to furnish an information return under section 150 fails to do so… Read More »