GSTR 4 FAQs and User Manual

By | January 18, 2019

Share this on WhatsAppGSTR 4 (Composition scheme Return) FAQs and User Manual FAQs > GSTR-4 1. What is Form GSTR-4? Form GSTR-4 is to be filed by a taxpayers who are registered under the composition scheme. The composition taxpayer needs to provide the details of the outward supplies and inward supplies (other than attracting reverse… Read More »

Can Unregistered person file Appeal under GST

By | January 18, 2019

Share this on WhatsAppCan Unregistered person file Appeal under GST ? क्या अपंजीकृत व्यक्ति जीएसटी के तहत अपील कर सकता है In case of unregistered transporter, a penalty u/s.129(3) of CGST ACT 2017 was levied and penalty notice was served upon unregistered transporter manually.  Can he file appeal under Rule 108 of CGST Rules 2017… Read More »

ICAI Guidance Note on Audit of Banks 2019 edition

By | January 18, 2019

Share this on WhatsAppICAI Guidance Note on Audit of Banks 2019 edition Guidance Note on Audit of Banks 2019 edition: Section A – Statutory Central Audit issued by the Auditing and Assurance Standards Board – (17-01-2019) Download Click here The Guidance Note on Audit of Banks is issued by the Auditing and Assurance Standards Board… Read More »

Income-tax Refund in 1 Day might be a reality

By | January 17, 2019

Share this on WhatsAppFiling of Income-tax returns and its processing is going to be hassle-free and much faster with the introduction of Rs. 4,241 crore project for integrated e-filing and centralized processing resulting in ‘One day’ Income-tax refund. The project is to be executed by Infosys Ltd. and is estimated to be completed within 18… Read More »

External Commercial Borrowings (ECB) Policy – New ECB Framework issued by RBI

By | January 17, 2019

Share this on WhatsAppRBI/2018-19/109 A.P. (DIR Series) Circular No. 17 January 16, 2019 To All Category-I Authorised Dealer Banks Madam / Sir, External Commercial Borrowings (ECB) Policy – New ECB Framework Attention of Authorized Dealer Category-I (AD Category-I) banks is invited to paragraph 7 of the Statement on Developmental and Regulatory Policies of the Fifth Bi-monthly Monetary Policy… Read More »

Exchange Rate of Foreign Currency w.e.f 18.01.2019

By | January 17, 2019

Share this on WhatsAppMinistry of Finance Exchange Rate of Foreign Currency relating to the Imported and Export Goods Notified Posted On: 17 JAN 2019             In exercise of the powers conferred by Section 14 of the Customs Act, 1962 (52 of 1962), and in supersession of the notification of the Central Board of Indirect Taxes… Read More »

Steps to complete GST Migration Process 2019 (phase-II)

By | January 17, 2019

Share this on WhatsApp STEPS TO ENABLE TAX PAYERS TO COMPLETE THE MIGRATION PROCESS-2019 (Phase-II) The GST Council, in its 32nd. meeting, approved the proposal to extend migration for taxpayers for a second time (Central Tax Notification No. 67/2018 and State Notification No. 1890 F.T. both dt. 31.12.2018), who received provisional IDs but could not complete the migration process… Read More »

Intermediary service between Indian importer and exporter outside India is not export of service under GST : AAR

By | January 17, 2019

Share this on WhatsAppAUTHORITY FOR ADVANCE RULINGS, MAHARASHTRA MRS. Vishakhar Prashant Bhave, In re B.V. BORHADE AND PANKAJ KUMAR, MEMBER GST-ARA-23/2018-19/B-87 AUGUST  10, 2018  PROCEEDINGS [Also refer GST Export : Free Study Material ]   (Under section 98 of the Central Goods and Services Tax Act, 2017 and the Maharashtra Goods and Services Tax Act, 2017) 1. The present application has… Read More »

New Threshold limit for GST Registration

By | January 17, 2019

Share this on WhatsAppNew Threshold limit for GST Registration  32nd GST Council Meeting on 10.01.2019 raised  the  threshold  limit  for  GST  Registration  w.e.f 01.04.2019 . Notifications are yet to be issued. GST Council has also raised the threshold limit for composition scheme from 1 crore to 1.5 crores from April 1st, 2019  GST Council has decided to raise the threshold limit from 20 lakhs… Read More »

Notification No 1/2019 Central Tax : CA Certificate for Supply against Advance Authorisation

By | January 17, 2019

Share this on WhatsAppNotification No 1/2019 Central Tax Seeks to amend notification No. 48/2017 to amend the meaning of Advance Authorisation Read Notification No 1/2019 Central Tax [TO BE PUBLISHED IN PART II, SECTION 3, SUB-SECTION (i) OF THE GAZETTE OF INDIA, EXTRAORDINARY] GOVERNMENT OF INDIA MINISTRY OF FINANCE (Department of Revenue) [CENTRAL BOARD OF… Read More »

Free Book on Exempted Supply under GST by ICAI

By | January 17, 2019

Share this on WhatsApp Free Book on Exempted Supply under GST by ICAI In order to facilitate members and other stakeholders, the Indirect Taxes Committee of ICAI has been regularly taking various initiatives. The Committee has now come out with an E-publication on “Exempted Supplies under GST” in January 2019 Download Exempted Supplies under GST… Read More »

No GST on Sale of tools located outside India : AAR

By | January 17, 2019

Share this on WhatsAppNo GST on Sale of tools located outside India It is pertinent to note that for manufacture of bearings for specific customer, a specific type of tool is required.  The Applicant in-turn raised a purchase order on Scaheffler Technologies AG & Co. KG for supply of tools. The tools which are required… Read More »

GST on lottery : GOM constituted

By | January 17, 2019

Share this on WhatsApp Ministry of Finance Group of Ministers (GoM) constituted on issues relating to lottery Posted On: 16 JAN 2019 In pursuance of decision in the 32nd Meeting of GST Council held on 10th January, 2019 at New Delhi, a Group of Ministers (GoM) on issues relating to lottery has been constituted. [Refer All GST… Read More »

Income Tax Integrated E-filing & Centralized Processing Center 2.0 approved by Govt

By | January 17, 2019

Share this on WhatsAppCabinet Cabinet approves expenditure sanction for Integrated E-filing and Centralized Processing Centre 2.0 Project  Posted On: 16 JAN 2019 4:01PM by PIB Delhi The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi, has given its approval to expenditure sanction of Rs.4,241.97crore for Integrated E-filing &Centralized Processing Center 2.0 Project of… Read More »

Removal of pre-import condition and include specified deemed export supplies for exemption from integrated tax and Compensation cess : Notification No 01/2019 Customs

By | January 16, 2019

Share this on WhatsApp Seeks to remove pre-import condition and include specified deemed export supplies for exemption from integrated tax and Compensation cess for materials imported against Advance Authorizations and Advance Authorizations for Annual Requirement [TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)] GOVERNMENT OF INDIA MINISTRY OF… Read More »

Extension of CPE hours requirement for Calendar Year 2018

By | January 16, 2019

Share this on WhatsAppExtension of last date “for complying with the CPE hours requirement for the Calendar Year 2018” – from 31st December, 2018 to 31st January, 2019 – (11-01-2019) FOR INFORMATION OF THE MEMBERS Subject: Extension of last date “for complying with the CPE hours requirements for the Calendar Year 2018” – till 31st… Read More »

GoM for boosting Real Estate Sector under GST regime

By | January 16, 2019

Share this on WhatsAppAs per 32nd GST Council meeting decision on 10.01.2019 Constitution of Group of Minister (GoM) for boosting Real Estate Sector under GST regime-reg. Ministry of Finance 7-Member Group of Ministers (GoM) constituted for boosting the Real Estate Sector under the GST regime by providing a Composition Scheme for Residential Construction Units among… Read More »

Merchant exporter included in Interest Equalisation Scheme on Pre and Post Shipment Rupee Export Credit : RBI

By | January 16, 2019

Share this on WhatsAppInterest Equalisation Scheme on Pre and Post Shipment Rupee Export Credit RBI/2018-19/107DBR.Dir.BC.No.22/04.02.001/2018-19 January 11, 2019 All Scheduled Commercial Banks (excluding RRBs)Small Finance Banks andPrimary (Urban) Cooperative Banks Dear Sir / Madam, Interest Equalisation Scheme on Pre and Post Shipment Rupee Export Credit Please refer to the operational instructions for the captioned scheme… Read More »

32nd GST Council meeting Decisions

By | January 15, 2019

Share this on WhatsApp Press note on decisions taken by the GST Council in the 32nd meeting held on 10th January, 2019 GST Council in the 32nd meeting held on 10th January, 2019 at New Delhi took following decisions to give relief to MSME (including small traders), and took following other decisions 1. Increase in… Read More »