Monthly Archives: December 2018

Circular No 79/53/2018 GST :Clarification on refund related issues

By | December 31, 2018

Circular No. 79/53/2018-GST Clarification on refund related issues F. No. CBEC-20/16/04/2018 – GST Government of India Ministry of Finance Department of Revenue Central Board of Indirect Taxes and Customs GST Policy Wing New Delhi, Dated the 31st December, 2018 To, The Principal Chief Commissioners/Chief Commissioners/Principal Commissioners/ Commissioners of Central Tax (All) / The Principal Directors… Read More »

Circular No 78/52/2018 GST : Clarification on export of services under GST

By | December 31, 2018

Circular No 78/52/2018 GST Clarification on export of services under GST F. No. CBEC-20/16/04/2018-GST Government of India Ministry of Finance Department of Revenue Central Board of Indirect Taxes and Customs GST Policy Wing New Delhi, Dated the 31st December, 2018 To, The Principal Chief Commissioners/ Chief Commissioners/Principal Commissioners/ Commissioners of Central Tax (All)/ The Principal… Read More »

Circular No 77/51/2018 GST : Denial of composition o ption by tax authorities and effective date thereof

By | December 31, 2018

Circular No 77/51/2018 GST Denial of composition option by tax authorities and effective date thereof  Read Circular No 77/51/2018 GST F. No. CBEC-20/16/04/2018-GST Government of India Ministry of Finance Department of Revenue Central Board of Indirect Taxes and Customs GST Policy Wing New Delhi, Dated the 31st December, 2018 To, The Principal Chief Commissioners/Chief Commissioners/Principal Commissioners/… Read More »

Circular No 76/50/2018 GST :Clarification on certain issue : sale by government departments to unregistered person

By | December 31, 2018

Circular No 76/50/2018 GST Clarification on certain issues (sale by government departments to unregistered person; leviability of penalty under section 73(11) of the CGST Act; rate of tax in case of debit notes / credit notes issued under section 142(2) of the CGST Act; applicability of notification No. 50/2018-Central Tax; valuation methodology in case of… Read More »

Top 20 GST Judgments in 2018

By | December 31, 2018

Top 20 GST Judgments in 2018 HC allowed to carry out modifications in GSTR-1 & GSTR-3B for taking IGST refund Assessee allowed to file manual copy of revised TRAN-1, ITC-01 & GSTR-3B for claiming credit : HC Govt should issue order for correction of error in TRAN-1 : HC GSTR-3B allowed to be filed manually… Read More »

Category: GST

USA IRS : Companies can visit IRS.gov to find out how the tax reform affects your bottom line

By | December 31, 2018

Companies can visit IRS.gov to find out how the tax reform affects your bottom line Some companies may have questions about how the law affects 2017 tax reform organization and final results. IRS.gov is a great place to find answers. Here are several pages on the website of the IRS that address tax reform. Companies… Read More »

USA IRS : Individuals can find answers to their questions about tax reform on IRS.gov

By | December 31, 2018

Individuals can find answers to their questions about tax reform on IRS.gov Tax reform legislation passed in December 2017 affects almost every taxpayer. The IRS is working closely with partners in the tax return preparation and tax software industries to prepare for tax reform affecting tax year 2018. This ongoing collaboration ensures that taxpayers can… Read More »

USA IRS : People can find answers to questions about tax reform in IRS.gov

By | December 31, 2018

People can find answers to questions about tax reform in IRS.gov Tax reform legislation passed in December 2017 affects almost all taxpayers. The IRS is working with partners in the preparation of tax returns and tax software industry to prepare for the tax reform affecting the tax year 2018. This ongoing collaboration ensures that taxpayers… Read More »

New Income Tax News 31.12.2018

By | December 31, 2018

New Income Tax News 31.12.2018 New Income Tax News GST and Income Tax Compliance Calendar for January 2019 : Due Dates (updated) Why you should file belated Income Tax Return (ITR) before December 31 CBDT Circular for Explanatory Notes to Finance Act 2018 : Circular No 08/2018 Download/Print How to Verify TDS Certificate of Income… Read More »

New GST News 31.12.2018

By | December 31, 2018

New GST News 31.12.2018 [ Join online GST Course by CA Satbir Singh ] New GST News Free GST Online Course [ Videos ] by CA Satbir Singh GST and Income Tax Calendar for December 2018 : Due Dates (updated) GST and Income Tax Compliance Calendar for January 2019 : Due Dates (updated) How to… Read More »

Category: GST

How to File GST Appeal online with Commissioner (Appeal)

By | December 31, 2018

How to File GST Appeal with CIT (Appeal) How to file GST Appeal Video Tutorial by CA Satbir Singh GST Appeal Can be Filed with  Appellate Authority : First appeal before ‘Appellate Authority’.Appellate Authority will be departmental officer. ( Commissioner (appeals) . As per Section 2(8) of CGST Act 2017 “Appellate Authority” means an authority appointed… Read More »

Manufacturing or other operations in bonded warehouses allowed till 31.01.2019 : Circular No.53 /2018-Customs

By | December 31, 2018

Manufacture and other operations allowed for goods in public bonded warehouses up to 31st January 2019 Circular No.53 /2018-Customs F. No: 473/03/2017 -LC Govt. of India Ministry of Finance Dept. of Revenue Central Board of Indirect Taxes & Customs North Block, New Delhi Dated 28th December 2018 To, All Principal Chief Commissioners/Chief Commissioners of Customs All… Read More »

49 FAQ’s on GSTR 9C ( GST Audit Reconciliation Statement ) by ICAI Indirect Tax Committee

By | December 30, 2018

49 FAQ’s on GSTR 9C ( GST Audit Reconciliation Statement ) Q 1. Are the accounts maintained by the registered taxable person required to be audited by a Chartered Accountant/Cost Accountant under GST? Ans. It has been stated in the law that every registered person whose aggregate turnover during a financial year exceeds the prescribed… Read More »

Category: GST

GST Penalty paid through GST Portal is valid , cash / DD can not be demanded : HC

By | December 30, 2018

The Court declares that the 1st respondent’s insistence that the petitioner should pay the amount either in cash or through demand draft cannot be sustained. As is further evident from Ext.P7, the petitioner is a dealer registered under the CGST. Cumulatively viewed, the petitioner’s paying the penalty under Ext.P5 receipt to the portal of GST… Read More »

New Dimensions to GST Annual Report and GST

By | December 28, 2018

NEW DIMENSIONS TO GST ANNUAL REPORT & GST AUDIT ICAI has published an article in 30th Tax Bulletin on New Dimensions to GST Annual Report and GST Audit Covering following topics GSTR Annual return & GST Audit provisions Alignment of Cost Records and GST records for quantitative data No of digits of HSN codes for reporting… Read More »

GST in Marriage Party

By | December 28, 2018

GST IN MARRIAGE PARTY ICAI has published an article in 30th Tax Bulletin on GST IN MARRIAGE PARTY Covering HSN/SAC code for major Items/Services in Marriage Click here to Download

Category: GST

GST and Indian Railways

By | December 28, 2018

GST AND INDIAN RAILWAYS ICAI has published an article in 30th Tax Bulletin on GST and Indian Railways Covering following topics ABOUT INDIAN RAILWAYS (IR) APPLICABILITY OF GST LAW TO IR ACCOUNTING SYSTEM THAT IR FOLLWS . ITC PROVISIONS AS APPLICABLE TO IR DEBIT NOTE & CREDIT NOTE ISSUED BY IR PROVISIONS OF e-WAY BILL… Read More »

Category: GST

GST Impact on Travel and Tourism Sector in India

By | December 28, 2018

IMPACT OF GST ON THE TRAVEL & TOURISM SECTOR IN INDIA ICAI has published an article in 30th Tax Bulletin on GST Impact on Travel and Tourism Sector in India Covering following topics Hospitality sector and GST: Before and after RATE OF GST ON FOOD & BEVERAGES (F&B) SALE RATE OF GST ON HOTEL ROOMS Relevant… Read More »

Category: GST

7.75% Savings (Taxable) Bonds, 2018 – Operational Guidelines by RBI

By | December 28, 2018

7.75% Savings (Taxable) Bonds, 2018 – Operational Guidelines RBI/2018-19/95 IDMD.CDD.No.1637/13.01.299/2018-19 December 24, 2018 The Chairman & Managing Director State Bank of India & 18 Nationalised Banks Axis Bank Ltd., ICICI Bank Ltd., HDFC Bank Ltd., Stock Holding Corporation of India Ltd. (SHCIL) Dear Sir/Madam, 7.75% Savings (Taxable) Bonds, 2018 – Operational Guidelines This has reference… Read More »

ICSI GST Newsletter issued till Date : Compilation

By | December 28, 2018

ICSI GST Newsletter Compilation of GST Newsletter issued by Institute of Company Secretaries of India ICSI GST Newsletter February 2019 ICSI GST Newsletter December 2018 ICSI GST Newsletter November 2018 ICSI GST Newsletter October 2018  ICSI GST Newsletter September 2018 ICSI GST Newsletter July 2018 :  ICSI GST Newsletter June 2018 ICSI GST Newsletter May… Read More »