Daily Archives: February 15, 2019

Revised List of Input Tax credit not allowed under GST u/s 17(5) of CGST Act (Blocked credit) w.e.f 01.02.2019

By | February 15, 2019

Input tax credit not allowed under GST u/s 17(5) of CGST Act (Blocked credit) One of the important aspects of GST is on which supplies is the input tax credit not available or is prohibited. Under section 17(5) of CGST Act, there are certain supplies on which input tax credit under GST is not available.  These supplies can… Read More »

How to Transfer Funds from NRO to NRE a/c.

By | February 15, 2019

How to Transfer Funds from NRO to NRE Account NRIs (Non Resident Indians) may transfer funds from the Non-Resident Ordinary Account (NRO) to Non-Resident External Account (NRE). The Reserve Bank of India (RBI) permitted NRO to NRE fund transfer subject to payment of applicable taxes within the overall ceiling of $ 1 million in a financial… Read More »

Entire 54F deduction can be claimed even if property Purchased in Joint Names : ITAT

By | February 15, 2019

The law is well settled that where two views are possible on an issue, the view favourable to the Assessee should be followed. Moreover, the decision of the Hon’ble Karnataka High Court in the case of Mrs. Jennifer Bhide (supra) is in favour of the Assessee. Following the said decisions, we hold that the Assessee should be… Read More »

Polypropylene Leno Bags classifiable as plastic bags : AAAR

By | February 15, 2019

Bags/Sacks manufactured by respondent are not manufacture out of textile material as defined under Heading No. 6305 of the Tariff Act but is rather made of woven strips manufactured out of Polypropylene/Linear Low Density Polyethylene (i.e., made of plastics) as defined under Heading No. 3923, impugned goods are clearly classifiable under Heading No. 39232990 Polypropylene… Read More »

No GST Advance Ruling on Export of Goods: AAR

By | February 15, 2019

 whether goods exported out of India directly by manufacturer mentioning applicant as Third Party Exporter for purpose of Foreign Trade Policy will be considered as exports at hands of Applicant under GST Laws ? AUTHORITY FOR ADVANCE RULINGS, MAHARASHTRA K. Uttamlal Exports (P.) Ltd., In re B.V. BORHADE AND PANKAJ KUMAR, MEMBER ORDER NO. GST-ARA-57/2018-19/B-130 OCTOBER  23, 2018  Download… Read More »

GST on Supplies outside India on direction of Indian Customer

By | February 15, 2019

GST on Supplies Purchased and Sold outside India on direction of Indian Customer ? In case of domestic company supplying gift items, the orders are received from Indian customers for supplying gifts to their relatives residing abroad (Outside India). Payment is received in Indian currency.  The company has tie ups with suppliers abroad. The goods are… Read More »

No ITC of CGST Paid in Other State : AAR

By | February 15, 2019

Whether the ITC of Central Tax paid in Haryana be available to the applicant who is registered in Rajasthan state, whereby such tax is paid on inward supplies used for business of person registered in Rajasthan Rajasthan Aurhotity of Advance Ruling IMF Cognitive Technology Pvt Ltd RAJ/AAR/2018-19/30 dated 09.01.2019 Download Click here

Common GST Errors -Part 3

By | February 15, 2019

Common GST Errors -Part 3 जीएसटी की आम गलतियां भाग 3 (INCORRECT DETERMINATION OF PLACE OF SUPPLY) Wrong discharge of GST (under RCM) without determining place of supply. It may be possible that same is not eligible for full ITC. Example: Incorrectly treating Import of services from overseas vendors. GST department may also dispute such… Read More »