32 nd GST Council meeting decision on 10.01.2019
32 nd GST Council meeting decision on 10.01.2019 32 वीं GST परिषद की बैठक के निर्णय
Constitution (One Hundred And Third Amendment) Act 2019
MINISTRY OF SOCIAL JUSTICE AND EMPOWERMENT (Department of Social Justice and Empowerment) NOTIFICATION New Delhi, the 14th January, 2019 S.O. 292(E).—In exercise of the powers conferred by sub-section (2) of section 1 of the Constitution (One Hundred and Third Amendment) Act, 2019, the Central Government hereby appoints the 14th January, 2019 as the date on which… Read More »
GST Interest if Payment not made in 180 Days
One of our client had not reversed ITC beyond 180 days as per Rule 37 of CGST Rules 2017. However, he made complete payment to seller on 210th day. Query- 1)Whether Interest/penalty will be levied in above case ? 2) If yes, whether for 30 days (210-180) OR For entire 210 days ? Answer :… Read More »
GST on Gifts to employee
GST on Gifts to employee I have provided a gift to the employee worth Rs 60000/-, for raising Tax Invoice what is Taxable Value? 1.Rs 10000/- i.e. (Rs 60000- Rs 50000(exempted value as per schedule I)) 2.Rs 60000/- My Opinion : Rs 10000 Should be Treated as Taxable Value for charging GST SCHEDULE I of CGST Act 2017 [See section 7]… Read More »
RBI Changed Eligibility of Gold Monetization Scheme 2015
RBI/2018-19/104DBR.IBD.BC.19/23.67.001/2018-19 January 9, 2019 All Scheduled Commercial Banks (excluding RRBs) Dear Sir/Madam Gold Monetization Scheme, 2015 In exercise of the powers conferred on the Reserve Bank of India under Section 35A of the Banking Regulation Act, 1949, the RBI makes the following amendments in the Reserve Bank of India (Gold Monetization Scheme, 2015) Master Direction No.DBR.IBD.No.45/23.67.003/2015-16 dated… Read More »
Company liable to deduct GST TDS if established by Govt notification
Summary of Judgments As the GST Act does not define “Control”, it should be construed as defined under the Companies Act, 2013. Section 2(27) of the Companies Act, 2013 defines “Control”. It includes the right to appoint majority of the directors or to control the management or policy decisions exercisable by a person or persons… Read More »
Customs Post Clearance Audit : Circular No 02/2019 Customs
Customs Post Clearance Audit. Under the new scheme, Transaction based audit (TBA) and Premises based audit (PBA) have been prescribed Circular No. 02/2019-Customs F.No.450/61/2018-Cus. -IVGovernment of IndiaMinistry of FinanceDepartment of Revenue(Central Board of Indirect Taxes & Customs)**** Room No. 227B, North BlockDated the 8th January, 2019 To,All Principal Chief Commissioners/ Chief Commissioners of Customs/ Customs… Read More »
Inclusion of Income Tax TCS for GST Valuation
Inclusion of Income Tax TCS for GST Valuation जीएसटी वैल्यूएशन के लिए आयकर टीसीएस का समावेश Circular No 76/50/2018 GST Dated 31st December 2018 :
DGFT amends Fertilizers Export Policy
Export Policy of Fertilizers have been revised and items under ‘Restricted’ category moved to ‘ Free’ category subject to prior permission / No Objection Certificate (NOC) to be obtained by the manufacturers /exporters from the Department of Fertilizers, and compliance of other laid down conditions. Government of IndiaMinistry of Commerce & IndustryDepartment of CommerceDirectorate General… Read More »
Rule 138E of CGST Rules 2017 : Restriction on furnishing of information in PART A of FORM GST EWB 01.
Rule 138E of CGST Rules 2017 Inserted by NOTIFICATION NO. 74/2018 – CENTRAL TAX, DATED 31-12-2018 [ Rule 138E will be effective from 21.11.2019 Refer Notification No 22 /2019 Central Tax Dated 23rd April, 2019 ) 138E. Restriction on furnishing of information in PART A of FORM GST EWB-01.— Notwithstanding anything contained in sub-rule (1) of rule… Read More »