Daily Archives: January 2, 2019

Circular No 87/06/2019 GST : CBIC clarify whether “eligible duties” include CENVAT credit u/s 140(1) CGST Act

By | January 2, 2019

Circular No 87/06/2019 GST Circular No. 87/06/2019-GST F. No. 267/80/2018-CX.8 Government of India Ministry of Finance Department of Revenue Central Board of Indirect Taxes and Customs New Delhi, the 2 nd Jan, 2019 To The Principal Chief Commissioners/ Chief Commissioners/ Principal Commissioners/ Commissioner of Central Tax (All) The Principal Director Generals/ Director Generals (All) Madam/… Read More »

Onerous Contracts – Cost of Fulfilling a Contract (Proposed amendments to IAS 37)

By | January 2, 2019

Onerous Contracts – Cost of Fulfilling a Contract (Proposed amendments to IAS 37) – (02-01-2019) Introduction In this Exposure Draft, the International Accounting Standards Board (Board) proposes to amend IAS 37 Provisions, Contingent Liabilities and Contingent Assets. The amendments specify the costs an entity includes in determining the ‘cost of fulfilling’ a contract for the… Read More »

Govt approved inclusion of merchant exporters under Interest Equalisation Scheme (1ES) for Pre and Post Shipment Rupee Export Credit

By | January 2, 2019

Cabinet Committee on Economic Affairs (CCEA) Cabinet allows inclusion of merchant exporters under Interest Equalisation Scheme (1ES) for Pre and Post Shipment Rupee Export Credit Posted On: 02 JAN 2019 The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Shri Narendra Modi, has given its approval to the proposal of the Department of… Read More »

GST on Petroleum Products to be decided by GST Council

By | January 2, 2019

Ministry of Petroleum & Natural Gas Decision regarding Levy of GST on Petroleum Products to be decided as per recommendation of GST Council Posted On: 02 JAN 2019 The prices of petroleum products in the country are benchmarked to international product prices. Generally, the prices of sensitive petroleum products in the country are higher/lower than… Read More »

Category: GST

” Body corporate ” Meaning in Companies Act 2013

By | January 2, 2019

” Body corporate ” Meaning in Companies Act 2013 As per Section 2(11) of Companies act 2013 body corporate‖ or ―corporation‖ includes a company incorporated outside India, but does not include— (i) a co-operative society registered under any law relating to co-operative societies; and (ii) any other body corporate (not being a company as defined… Read More »

FORM NO 10BA for Deduction u/s 80GG Income Tax

By | January 2, 2019

FORM NO. 10BA (See rule 11B) DECLARATION TO BE FILED BY THE ASSESSEE CLAIMING DEDUCTION U/S 80 GG I/We………………………………………………………………………………………… ……….. ( Name of the assessee with permanent account number) do hereby certify that during the previous Year………….I/We had occupied the premise………………………….(full address of the premise) for the purpose of my/our own residence for a period… Read More »

Circular No 85/04/2019 GST : Clarification on GST rate applicable on supply of food and beverage services by educational institution.

By | January 2, 2019

Circular No 85/04/2019 GST Read Circular No 85/04/2019 GST Clarification on GST rate applicable on supply of food and beverage services by educational institution. F. No. 354/428/2018-TRU Government of India Ministry of Finance Department of Revenue Tax research Unit Room No. 156, North Block, New Delhi, the 1st January, 2019 To, The Principal Chief Commissioners/ Chief… Read More »

Circular No 86/05/2019 GST : GST on Services of Business Facilitator (BF) or a Business Correspondent (BC) to Banking Company.

By | January 2, 2019

Circular No 86/05/2019 GST GST on Services of Business Facilitator (BF) or a Business Correspondent (BC) to Banking Company. F. No. 354/428/2018-TRU Government of India Ministry of Finance Department of Revenue Tax research Unit **** Room No. 156, North Block, New Delhi, the 1st January, 2018 To, The Principal Chief Commissioners/ Chief Commissioners/ Principal Commissioners/… Read More »

Circular No 84/03/2019 GST : classification of service of printing of pictures

By | January 2, 2019

Circular No 84/03/2019 GST Clarification on issue of classification of service of printing of pictures covered under 998386. F. No. 354/428/2018-TRU Government of India Ministry of Finance Department of Revenue Tax research Unit **** Room No. 146G, North Block, New Delhi, the 1th January 2019 To, The Principal Chief Commissioners/ Chief Commissioners/ Principal Commissioners/ Commissioner… Read More »

Category: GST

Circular No 83/02/2019 GST : Applicability of GST on Asian Development Bank (ADB) and International Finance Corporation (IFC).

By | January 2, 2019

Circular No 83/02/2019 GST Applicability of GST on Asian Development Bank (ADB) and International Finance Corporation (IFC). Circular No. 83/02/2019- GST F. No. 354/428/2018-TRU Government of India Ministry of Finance Department of Revenue Tax research Unit ***** North Block, New Delhi, Dated the 1 st January, 2019 To, The Principal Chief Commissioners/ Chief Commissioners/ Principal… Read More »

Circular No 82/01/2019 GST :Applicability of GST on various programmes conducted by IIM

By | January 2, 2019

Circular No 82/01/2019 GST Applicability of GST on various programmes conducted by the Indian Institutes of Managements (IIMs). F. No. 354/428/2018-TRU Government of India Ministry of Finance Department of Revenue Tax research Unit **** Room No. 146, North Block, New Delhi, the 1st January, 2019 To: The Principal Chief Commissioners/ Chief Commissioners/ Principal Commissioners/ Commissioner… Read More »

35 New GST Notifications 4 Circulars and 3 Orders issued w.e.f 01.01.2019

By | January 2, 2019

35 New GST Notifications 4 Circulars and 3 Orders issued w.e.f 01.01.2019 GST Rates on Goods Amended w.e.f 01.01.2019 Notification No 25/2018 Integrated Tax (Rate) : IGST Rates on Goods Amended w.e.f 01.01.2019 Notification No 24/2018 Central Tax (Rate) : CGST Rates on Goods Amended w.e.f 01.01.2019 Notification No 24/2018 Union territory Tax (Rate) :… Read More »

Category: GST

5 New GST Circulars issued on 01.01.2019

By | January 2, 2019

5 New GST Circulars issued on Dated 01.01.2019 Circular No 82/01/2019 GST Dated 01.01.2019 Applicability of GST on various programmes conducted by IIM Circular No 83/02/2019 GST Dated 01.01.2019 Applicability of GST on Asian Development Bank (ADB) and International Finance Corporation (IFC). Circular No 84/03/2019 GST Dated 01.01.2019 Clarification on issue of classification of service… Read More »

Category: GST

RBI allowed Restructuring of Advances of MSME Sector : Micro, Small and Medium Enterprises

By | January 2, 2019

Micro, Small and Medium Enterprises (MSME) sector – Restructuring of Advances RBI/2018-19/100 DBR.No.BP.BC.18/21.04.048/2018-19 January 1, 2019 All banks and NBFCs regulated by the Reserve Bank of India Dear Sir/ Madam, Micro, Small and Medium Enterprises (MSME) sector – Restructuring of Advances 1. Please refer to the circulars DBR.No.BP.BC.100/21.04.048/2017-18 dated February 07, 2018 and DBR.No.BP.BC.108/21.04.048/2017-18 dated June 6, 2018.… Read More »

Category: RBI

New GST News 02.01.2019

By | January 2, 2019

New GST News 02.01.2019 [ Join online GST Course by CA Satbir Singh ] New GST News Free GST Online Course [ Videos ] by CA Satbir Singh GST and Income Tax Compliance Calendar for January 2019 : Due Dates (updated) GST on Petroleum Products to be decided by GST Council 35 New GST Notifications… Read More »

Category: GST