Ministry of Finance Indian Advance Pricing Agreement regime moves forward with signing of 18 APAs by CBDT in March, 2019 Posted On: 03 APR 2019 The Central Board of Direct Taxes (CBDT) has entered into 18 APAs in the month of March 2019, which includes 03 Bilateral APAs (BAPAs). With the signing of these APAs,… Read More »
Exposure Draft of Accounting Standard (AS) 17, Leases (Comments to be received by May 4, 2019) – (03-04-2019) Download Exposure Draft of Accounting Standard (AS) 17, Leases (Comments to be received by May 4, 2019) Download
Breaking GST News 897 ताज़ा जीएसटी समाचार
Issue : Tax liability under GST for tour packages, which are provided to guests by way of separate services like accommodation, serving food and beverages, service of authorized guides, trekking accessories etc., against separate invoices ? Held :In case where a supply involves supply of both goods and services and value of such goods and… Read More »
Execution of ‘Livelihood for Artists and Local Art Hubs’ to empower skills of rural artists and artisans, as an administrative agency being a pure service, comes under Sl. No. 3 of Notification No. 12/2017-Central Tax (Rate), dated 28-6-2017 and is exempt from GST Note : As per Sr No 3 of of Notification No. 12/2017-Central… Read More »
Mixing of rubber compound on the materials supplied by the principal and returning the finished products such as rubber backed mats and matting to the principal constitute supply of job work services and the job work services applied on such goods are squarely come under SI.No.26(i)(b) of Notification 11/2017 (Central Tax (Rate)) and SRO.No. 370/2017and taxable… Read More »
No ITC on free supply of electric items to flood affected people of Kerala under CSR expense : The applicant distributed electrical items like, switches, fan, cables etc. to flood affected people under CSR expenses on free basis without collecting any money. For these transactions input tax credit will not be available as per section17(5)(h)… Read More »
The Karnataka High Court has directed the petitioner to approach the jurisdictional Nodal Officer to revise the GST TRAN-1 for non-technical errors. The Court also directed the Nodal Officer to consider the grievances of the petitioner within four weeks after providing an opportunity of hearing to the petitioner. The assessee filed GST TRAN-1. Subsequently, they… Read More »
The marine diesel engine and gear boxes supplied for use in vessels 1 goods falling under heading 8901, 8902, 8904, 8905, 8906, 8907 will be deemed to be parts of such goods and thereby taxable 5% GST as per Serial No.252 of Schedule-I of the Notification No.1/2017 Central Tax (Rate) dated 28.06,2017. If it is… Read More »
Held Section 13 of the IGST Act, 2017 lays down the principles for determining the place of supply of services where the location of supplier or location of recipient is outside India. The question essentially involves the determination of the ‘Place of Supply of the services supplied by the applicant which is beyond the jurisdiction… Read More »