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Archive: 22 June 2017

Posts in 22 June 2017

Course on Mastering GST Sections Effortlessly with Memory Techniques!

December 22, 2024 10902 Views 0 comment Print

Simplify GST learning with memory techniques. Join live sessions, master CGST sections, and retain knowledge effortlessly. Register now for practical GST mastery!

Guidance Manual for GST Seva Kendras: 1st July will be known as GST Day

June 22, 2017 4656 Views 0 comment Print

As you are aware the implementation of GST will be on 1st July, 2017. The introduction of GST heralds a new era in indirect taxation as well as in cooperative fiscal federalism in India. The officers & staff of CBEC have been assiduously working over the past several months for the smooth introduction of GST. Outreach programs & training session are continuously being imparted to all stake holders by the officers & staff in cooperation with officers of the state commercial taxes department.

8 DGFT Related GST FAQs and Answer

June 22, 2017 8847 Views 8 comments Print

Query 1: Will GST be debited in duty credit scrips such as Merchandise Exports from India Scheme (MEIS) and Service Exports from India Scheme (SEIS)? Response: No, MEIS and SEIS scrip would be used only for payment of Basic Customs Duty under GST regime. Query 2: What is HSN code (under GST scheme) for my […]

MCA increases paid up share capital limit for rotation of private companies auditors

June 22, 2017 10833 Views 0 comment Print

Paid up share capital limit for rotation of auditors in case of private companies has been increased from rupees twenty crore to rupees fifty crore or more. There are no changes in other criteria.

Service Tax Return for April to June 2017 to be filed by 15.08.2017

June 22, 2017 70818 Views 7 comments Print

Service tax return for the period April 2017 to June 2017 is to be filed on or before 15thof August 2017 and revised service tax return if required within 45 days from the date of filing the original return

Impact of GST on Affordable Housing

June 22, 2017 29655 Views 15 comments Print

With the new GST law coming into force w.e.f. 1st July 2017, all businesses are busy analyzing the sectoral and business impact of this single biggest tax reform in the history of India. While many hail this reform as a game changer which would simplify indirect taxation and reduce tax by removing the cascading effect, some businessman are also concerned about increased compliances

Anti Profiteering Measures under GST

June 22, 2017 3744 Views 1 comment Print

Goods and Service Act is in its way to be implemented recently and law maker are sure that with the implementation of GST, cost of production and prices will surely In order to ensure that the reduction in cost of production and price benefit is transferred to the ultimate consumer, specific provisions are made in the law by incorporating in Act and Rules.

Time of Supply under GST with Examples

June 22, 2017 99300 Views 0 comment Print

For the purpose of paying tax liability, point of taxation is required. Time of supply is nothing but, it is point of taxation. When the supplies have been made at that time, point of taxation has arisen. To find out that supplies have been made or not, we need to determine time of supply. Once time of supply occurred, a supplier is required to discharge his GST liability.

Invoicing under GST: Comparative chart

June 22, 2017 9225 Views 0 comment Print

W.e.f. 01.07.2017 GST will come into force and all the invoicing for supply of goods/Services/Dr Note/Cr Note/Advance/RCM will be as per the new invoicing rules given under GST laws.

Purchase of Sales Tax Exemption Certificate is Revenue Expense

June 22, 2017 1005 Views 0 comment Print

In this appeal the only issue that is to be decided as to whether the CIT-A justified in holding that the purchase of sales tax exemption certificates is a revenue expenditure in the facts and circumstances of the case.

Assessee not liable for delay in TDS credit due to system/ connectivity issues

June 22, 2017 1098 Views 0 comment Print

Amount of TDS was debited from the bank account of the assessee on the due date i.e. 7.10.2009 and the delay in deposit of such tax by a day was on account of system and connectivity issues at the bankers’ end, which were beyond the control of the assessee.

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