CA Bimal Jain

GST rollout from July 1, 2017- GST Council eases rules for return filing for July & August

Goods and Services Tax - While sticking to the roll out date of July 1, 2017 for the first-of-its-kind mammoth indirect tax reform post independence in India, the all-powerful GST Council headed by the Hon’ble Finance Minister, Mr. Arun Jaitley concluded their meet for the 17th time on June 18, 2017. The GST Council on Sunday made the dreaded anti-profiteering ...

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GST Council lowers rates for 66 items, increases limit for Composition Levy

Goods and Services Tax - The all-powerful GST Council headed by the Honble Finance Minister, Mr. Arun Jaitley met for the sixteenth time with an agenda to review the rates on basis of representation made by the Industries & Traders & take up pending Draft Rules. Ahead of this meeting, we have moved one step more closure towards GST rollout from July 1, 2017 as en...

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GST Council finalises tax rates for remaining items, States agree to July 1 rollout

Goods and Services Tax - The all-powerful GST Council headed by the Hon’ble Finance Minister, Mr. Arun Jaitley met for the fifteenth time with an agenda to fix the rates for almost all the remaining items, such as precious metals (gold and silver), diamonds, biscuits, textiles, and footwear. ...

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Rate fitments of services on Day 2 of 14th GST Council Meeting

Goods and Services Tax - The GST Council has broadly approved the GST rates for services at Nil, 5%, 12%, 18% and 28% for services including telecom, insurance, hotels and restaurants. The information has been uploaded immediately after the GST Council’s decision and it will be subject to further vetting during which the list may undergo some changes. It is sta...

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Rate fitments on Day 1 of 14th GST Council Meeting

Goods and Services Tax - In Srinagar, the all-powerful GST Council headed by the Hon’ble Finance Minister, Mr. Arun Jaitley met for the fourteenth time to finalise the nuts and bolts of the new GST tax framework. This meeting is paving the way for India to join select League of Nations with a GST rollout from July 1, 2017 as envisaged....

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Guide to Revised Model GST Law with Draft Rules

Goods and Services Tax - We are pleased to announce release of our Handbook on Goods and Services Tax, titled, GUIDE TO REVISED MODEL GST LAW (With Draft Rules on Registration, Payment, Invoice, Returns and Refund) [3rd Edition]...

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PHD Chamber’s Workshop on Audit, Investigation, Imprisonment & Customs – Drawback & Refund: Way Forward in GST

Goods and Services Tax - Join GST Online Certification Course by GST Professionals & TaxGuru.in – Batch II We are happy to inform that the Last Workshop in the above series is being organised on the following Themes: Audit, Investigation, Imprisonment and Power to Arrest provisions by multiple wings of Service Tax and Excise Department Customs – Drawback,...

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Book Release 1st Edition of "GST – Introduction and Way forward"

Goods and Services Tax - Key features of the Book: ♠ Present indirect taxes—shortcomings, double taxation, cascading. ♠ GST – Need and Necessity, what it is, how it works, etc. ♠ Journey of GST, Proposed model of GST in India and best international practices. ♠ Taxes to be subsumed and not to be subsumed in GST...

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Workshop Series on Indirect Taxes : Works Contract under the Service Tax & VAT

Goods and Services Tax - Join GST Online Certification Course by GST Professionals & TaxGuru.in – Batch II   We are happy to inform that the Sixth Workshop under the series is being organised on the theme ‘Works Contract under the Service Tax & VAT  and other issues of Double Taxation and Transition Issues with Way forward in GST’ on [...

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PHD Workshop on Mega Exemption under Service Tax and Point of Taxation Rules, 2011 – Relevance in GST Regime

Goods and Services Tax - Join GST Online Certification Course by GST Professionals & TaxGuru.in – Batch II Mega Exemption under Service Tax and Point of Taxation Rules, 2011 – Relevance in GST Regime  We are happy to inform that the Fourth Workshop under the series is being organised on the theme “Mega Exemption under Service Tax and Point of [&hel...

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Entry tax levy upheld by the Supreme Court

Jindal Stainless Ltd. & Anr. Vs. State of Haryana & Ors. (Supreme Court) - Supreme Court upheld constitutional validity of Entry tax imposed by States. A nine-judge Constitution Bench, overrules 'compensatory tax' theory propounded by 7 judges bench...

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Inputs / Capital goods used in R&D and Quality Control Laboratory for input testing, final product samples eligible for Cenvat credit

Sabic Innovative Plastics (P.) Ltd. Vs Commissioner of Central Excise & Service Tax (CESTAT Ahmedabad) - Subic Innovative Plastics (P.) Ltd. (the Appellant) had taken Cenvat credit on inputs and capital goods used in Research and Development (R&D) and Quality Control Laboratory situated in the factory premises. ...

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Pre-delivery inspection charges and after sales service charges not includible in assessable value

Commissioner of Central Excise, Mysore Vs TVS Motors Company Ltd. (Supreme Court of India) - SC overruled the CESTAT Larger Bench decision in Maruti Suzuki case and held that pre-delivery inspection charges and after sales service charges are not to be included in assessable value- Commissioner of Central Excise, Mysore Vs. TVS Motors Company Ltd. [2015 (12) TMI 874 - SUPREME COURT]...

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Refund allowable where Service tax is paid twice by Appellant due to clerical error

Tikaula Sugar Mills Ltd. Vs CCE, Meerut-I (CESTAT Delhi) - Refund is allowable where Service tax is paid twice by the Appellant due to clerical error and the same is proved by supporting documents- Tikaula Sugar Mills Ltd. Vs. CCE, Meerut-I [2015 (12) TMI 884 - CESTAT NEW DELHI]...

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Provisions of interest on belated refund U/s. 27A of Customs Act also applies on belated refund of SAD

Principal Commissioner of Custom Vs Riso India (P.) Ltd. (Delhi High Court) - Principal Commissioner of Custom Vs. Riso India (P.) Ltd. (Delhi High Court) Duty' as defined in Section 2(15) of the Customs Act, is wide enough to cover all kinds of duty, including SAD. Hence, as per Section 3(8) of Customs Tariff Act...

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Notification No. 32/2015-Central Excise Dated- 4th June, 2015

Notification No. 32/2015-Central Excise - (04/06/2015) - Notification No. 32/2015-Central Excise Dated- 4th June, 2015 Ethanol produced from molasses generated from cane crushed in the sugar season 2015-16 i.e. 1st October, 2015 onwards, for supply to the public sector oil marketing companies, namely, Indian Oil Corporation Ltd., Hindustan Petroleum C...

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Clarification on rate of service tax on restaurant service

Circular No. 184/3/2015-Service Tax - (03/06/2015) - Circular No. 184/3/2015-ST Dated the 3rd June, 2015 It is further clarified that exemption from service tax still continues to services provided in relation to serving of food or beverages by a restaurant, eating joint or a mess, other than those having the facility of air-conditioning or central ai...

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Custom Duty exemption on goods for relief of flood affected people of J&K

Notification No. 33/2014-Customs - (11/12/2014) - the floods in the State of Jammu and Kashmir (the State) from whole of the duty as specified under the First Schedule and whole of the additional duty as specified under Section 3 of the Tariff Act....

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Excise duty exemption on goods for relief of flood affected people of J&K

Notification No. 25/2014-Central Excise - (11/12/2014) - Grants exemption from Basic Excise Duty to goods donated or purchased out of cash donations for the relief and rehabilitation of people affected by the floods in the State of Jammu and Kashmir...

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Customs – Regarding adjudication of appraising related cases

Circular No. 14/2014-Customs Duty - (11/12/2014) - New posts have been created in the rank of Commissioners of Customs in DRI and DGCEI for adjudication of cases as investigated by DRI and DGCEI....

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Recent Posts in "CA Bimal Jain"

GST rollout from July 1, 2017- GST Council eases rules for return filing for July & August

While sticking to the roll out date of July 1, 2017 for the first-of-its-kind mammoth indirect tax reform post independence in India, the all-powerful GST Council headed by the Hon’ble Finance Minister, Mr. Arun Jaitley concluded their meet for the 17th time on June 18, 2017. The GST Council on Sunday made the dreaded anti-profiteering ...

Read More

GST Council lowers rates for 66 items, increases limit for Composition Levy

The all-powerful GST Council headed by the Honble Finance Minister, Mr. Arun Jaitley met for the sixteenth time with an agenda to review the rates on basis of representation made by the Industries & Traders & take up pending Draft Rules. Ahead of this meeting, we have moved one step more closure towards GST rollout from July 1, 2017 as en...

Read More

GST Council finalises tax rates for remaining items, States agree to July 1 rollout

The all-powerful GST Council headed by the Hon’ble Finance Minister, Mr. Arun Jaitley met for the fifteenth time with an agenda to fix the rates for almost all the remaining items, such as precious metals (gold and silver), diamonds, biscuits, textiles, and footwear. ...

Read More

Rate fitments of services on Day 2 of 14th GST Council Meeting

The GST Council has broadly approved the GST rates for services at Nil, 5%, 12%, 18% and 28% for services including telecom, insurance, hotels and restaurants. The information has been uploaded immediately after the GST Council’s decision and it will be subject to further vetting during which the list may undergo some changes. It is sta...

Read More

Rate fitments on Day 1 of 14th GST Council Meeting

In Srinagar, the all-powerful GST Council headed by the Hon’ble Finance Minister, Mr. Arun Jaitley met for the fourteenth time to finalise the nuts and bolts of the new GST tax framework. This meeting is paving the way for India to join select League of Nations with a GST rollout from July 1, 2017 as envisaged....

Read More

Key highlights of Draft GST Rules on Accounts & Records, Appeals & Revision and Advance Ruling

In order to engage with the stakeholders and invite comments from the public at large, recently, the Central Government has issued 3 more Draft Goods and Services Tax (“GST”) Rules viz. Draft GST Rules on Accounts & Records, Appeals & Revision and Advance Ruling, on April 19, 2017, making a total of 14 Draft Rules as on date....

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President approves all four GST Bills

Marking another landmark day, the Honble President, Mr. Pranab Mukherjee, has given his assent to the four key Goods and Services Tax (GST) Bills, after they were passed by the Parliament. The four GST Bills which are now enacted can be accessed as under...

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Rajya Sabha passes all four GST Bills without amendments

On Thursday i.e. April 6, 2017, the Rajya Sabha has passed four supplementary GST legislations without amendments by a voice vote as all parties were on board. The four Bills are as under:...

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CBEC unveils 8 GST Rules and revised FAQs on GST

In order to engage with the stakeholders and invite comments from the public at large, the Centre has issued 8 Goods and Services Tax (GST) Rules viz. Composition Rules, Valuation Rules, Transition Rules, Input Tax Credit (ITC) Rules, Revised Invoice Rules, Revised Payment Rules, Revised Refund Rules and Revised Registration Rules, on Apr...

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13th GST Council Meeting: Important Takeaways

The prospects of rollout of the Goods and Services Tax (GST) from July 1, 2017 has been brightened further, when the all-powerful GST Council chaired by the Honble Finance Minister, Mr. Arun Jaitley met for the thirteenth time in a row to clear all gathered clouds over the GST and brightening its prospects of implementation soon....

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