It has been decided that aadhaar may not be insisted for pension (10 D) claims for members working in establishments located in the North Eastern states till 30.09.2017.
To determine the value on which GST would be levied has been described in the Chapter IV of CGST ACT, 2017. The Provision says that there are five items such as taxes under other statutes, interest or late fee for the delayed payment of consideration, incidental expenses, subsidy etc, which should be included in the transaction value. There is one exclusion i.e. Discount which should be excluded from the Transaction Value. However there are certain transactions (such as barter, exchange, transaction with related parties, transaction between principal and agent) for which we have to refer to the valuation rule prescribed under GST Act. Different scenario under which we have to refer Valuation rule has been provided in the PPT enclosed. Detailed provisions of Transaction Value u/s 15 of the CGST act are as under:
Removal of Names of Companies by the Registrar of Companies (Roc) from the Register of companies maintained by RoC Section 248 to 252 of the Companies Act, 2013 (the Act) read with the Companies (Removal of Names of Companies from the Register of Companies) Rules, 2016 deals with removal of names of the Companies from […]
For changing the registered office from one state to another, the company needs to amend the MOA. 1. A special resolution needs to be passed by the company for alteration in the MOA. This special resolution also needs to be filed to the ROC in Form MGT-14 within 30 days of passing the resolution.
An important determinant of the tax incidence under GST will be the GST rate applicable to the textile segments. While the final GST rates are yet to be announced, even at the 12% lower rate recommended by the Dr. Arvind Subramanian Committee, the textile sector is likely to be negatively impacted.
any payment made or to be made, whether in money or otherwise, in respect of, in response to, or for the inducement of, the supply of goods or services or both, whether by the recipient or by any other person but shall not include any subsidy given by the Central Government or a State Government;
GSTR-3 is a consolidated return filed by the taxpayer based on GSTR-1 and GSTR-2. GSTR-3 provides the details of tax liability for a given tax period and details of tax paid. GSTR-3 provides details of gross turnover, export turnover, exempted domestic turnover, Nil rated turnover, Non GST turnover and Net taxable turnover.
Appellant has been held liable as assessee in default merely due to technical flaws. Demand has been raised merely due to fault of system and in view of the CBDT’s Instruction No.5/2013 dated 08.07.2013, the demand cannot be sustained.
The Electronic Cash Ledger contains a summary of all the payments made by a taxpayer. In the ledger, information is displayed major head-wise i.e., IGST, CGST, SGST, and CESS. Each major head is further divided into five minor heads: Tax, Interest, Penalty, Fee, and Others. It can be accessed under in the post-login mode on the GST portal under Services > Ledgers > Electronic Cash Ledger.
Receiver taxpayers are required to file GSTR 2 return (Statement of Inward Supplies) on a monthly basis in which they can accept, modify, reject, or keep pending the invoice level outward supplies information furnished by the supplier taxpayer in the GSTR 1 to prepare the details of inward supplies and credit or debit notes.
