"05 July 2017" Archive

Format of Tax Invoice Under GST

Download Format of Tax Invoice Under Goods & Services Tax (GST) in Excel Format...

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All about Exports under GST

Export will be treated as zero-rated supply. Under zero-rated supply, IGST paid on export goods or the input tax credit proportionate to the goods and services consumed in goods exported under bond /LUT would be refunded....

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All About Speculative Business and Speculative Transactions

Articles discusses how Speculative Business is Distinct Business, What is speculative transaction, What shall not deemed to be speculative transactions, What is Eligible Transaction for security derivative,What are the Eligible Transaction for Commodity derivative,Do Single transaction constitute speculative business, Treatment of Losses ...

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Analysis of Section 234 of Companies Act, 2013 notified on 13.04.2017

The provisions of Section 234 and that of Rule 25A of the Companies (Compromise, Arrangements and Amalgamation) Rules, 2016 are effective from 13 April 2017....

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Duty on Import of gifts / other goods for personal use through Courier

Instruction No. 09/2017-Customs (05/07/2017)

Reference has been received in the Board that seeking clarification as to whether the above concessional duty @ 10% is applicable to goods imported through courier (heading 9804) where the value of the said goods is above Rs. 2000/-. It has been further mentioned that there is no uniformity of practice in the field formations on this issu...

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GST- KI- Master Class

PRESS RELEASE GST-KI-Master Class to be held on six days covering issues relating to Registration & Migration Transition & Invoice Making, Composition and Record Keeping; To be telecast Live on DD National and other Channels. Department of Revenue, Government of India and the Central Board of Excise & Customs (CBEC) are organi...

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Meaning of registered brand name in context of GST rates

Meaning of registered brand name in the context of GST rates; CGST rate of 5% will not be applicable on the supply of goods unless the brand name or trade name is actually on the Register of Trade Marks and is in force under the Trade Marks Act, 1999....

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33 FAQs on Composition Levy under GST

Q.1 What is composition levy under GST? Ans. The composition levy is an alternative method of levy of tax designed for small taxpayers whose turnover is up to Rs. 75 lakhs ( Rs. 50 lakhs in case of few States). The objective of composition scheme is to bring simplicity and to reduce the compliance cost […]...

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18% IGST on Rental services of transport vehicles with or without operators

CORRIGENDUM to Notification No. 8/2017-Integrated Tax (Rate) / G.S.R. 838(E). (05/07/2017)

Government of India in the Ministry of Finance (Department of Revenue), No. 8/2017-Integrated Tax (Rate), dated the 28th June, 2017 published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 683 (E), dated the 28th June, 2017, in the Table, in Sl No. 10, in column (3) and column (4), for...

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IGST exemption to SEZs on import of Goods by a unit/developer in an SEZ

Notification No. 64/2017-Customs (05/07/2017)

Central Government exempts all goods imported by a unit or a developer in the Special Economic Zone for authorised operations, from the whole of the integrated tax leviable thereon under sub-section (7) of section 3 of the Customs Tariff Act, 1975 (51 of 1975) read with section 5 of the Integrated Goods and Service Tax Act, 2017 (13 of 20...

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