Daily Archives: July 28, 2018

Notification No 2/2018 Compensation Cess (Rate) Seeks to amend Notification No. 1/2017 -Compensation Cess (Rate) dated 28.06.2017 togive effect to the recommendations of the GST Council in it’s 28th meeting held on 21.07.2018 Read Notification No 2/2018 Compensation Cess (Rate) [TO BE PUBLISHED IN PART II, SECTION 3, SUB-SECTION (i) OF THE GAZETTE OF INDIA, EXTRAORDINARY]… Read More »

Income Tax Audit u/s 44AB : Limit ,Due date, Applicability and Penalty

By CA Satbir Singh | July 28, 2018

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Income Tax Audit u/s 44AB Due date of filing Income tax return for assessee who are liable to get their books of accounts audited is 30th September of the Assessment year. Here are the on section 44AB related to Tax Audit. Applicability and Limit for Income Tax Audit u/s 44AB Who has to get his… Read More »

Pay GST on transportation charges even if transporter isn’t a GTA: Maharashtra AAR

By CA Satbir Singh | July 28, 2018

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Question: “Whether transportation charges received by the applicant are liable to GST, especially when the applicant is not a goods transport agency (GTA)”? Answer: Answered in the affirmative and same is liable to tax as a works contract as per provisions of section 2(119) of the GST Act, AUTHORITY FOR ADVANCE RULINGS, MAHARASHTRA Dinesh Kumar Agrawal, In re… Read More »

No deduction allowed for Rate difference from Transaction value under GST : MAHARASHTRA AAR

By CA Satbir Singh | July 28, 2018

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GST on Discounts given after supply The applicant pays GST on the full value of invoice raised by them on the authorised dealers/stockists at the time of original supply of goods to the said authorised dealers/stockists. However, by issuance of credit note for rate difference, the sale price of goods sold by the applicant to the authorised… Read More »