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Archive: 07 July 2017

Posts in 07 July 2017

Disclose Numeric data of Officers Facing Corruption Charges: CIC

July 7, 2017 1569 Views 0 comment Print

he public authorities working under the aegis of Union Government shall make public: (a). Year wise Numeric data of pending as well as disposed Departmental / Vigilance / Court cases against their employees initiated at instance of the employer;(b). Rank/Post held by the charge sheeted employee; without disclosure of identity of the individual.(c). Details of outcome in terms of finding ie. exoneration or found guilty.

5 % GST under RCM on Goods Transport Agencies with full Input Credit

July 7, 2017 188058 Views 18 comments Print

Goods transport agencies (GTAs) are unable to claim the input credit on major of their costs. Keeping this in mind, the GST Council has ,decided that the GST payable at 5% on GTA service will be payable by the service receiver under RCM and the input credit will also be taken only by the service receiver.

GST Officials & Their Functions – Other Than Registration & Composition CGST Act – 2017

July 7, 2017 3333 Views 0 comment Print

GST Officials & Their Functions – Other Than Registration & Composition CGST Act – 2017 Sl. No. Designation of the officer Section FUNCTION 1. Principal Commissioner/ Commissioner of Central Tax 67 (7)   > To return of Seized Goods – 6 Months or extended 6 months Proviso to 78 > To initiate recovery proceedings 2. […]

Promptly address GST issues faced by trade & general public: CBEC

July 7, 2017 1254 Views 0 comment Print

The essence now is to promptly address the issues faced by the trade and general public and at the same time update our knowledge base. In this regard I am sure you and your officers and staff must be watching the GST Ki Master Class, as per schedule indicated in my letter dated 5th July, 2017.

Aadhaar enabled online filings of claims by EPF members

July 7, 2017 2628 Views 0 comment Print

A new facility has been launched in employee’s Member Interface of Unified Portal for the employees/members to submit Online Claims based on Composite Claim Form (Aadhar) for availing the benefits under EPF (Form-19), Pension (Form-10C) & PF Part Withdrawals (Form-31).

Critical Analysis on Insolvency and Bankruptcy Code, 2016

July 7, 2017 3609 Views 0 comment Print

NCLT i.e. Adjudicating Authority (Section 5(1)) has recently held that after admission of petition, nature of petition changes to representative suit and the lis doesnt remain only between operational creditor and operational debtor.

Understanding TCS Mechanism under GST

July 7, 2017 5928 Views 0 comment Print

Various E-commerce Operators display on their Website/Portal, various products and services that are actually supplied by some other suppliers. Consumers purchase the products from such portals and the Supplier supplies the product to the Consumers.

LTCG on sale of share cannot be treated as unexplained credit merely for SEBI inquiry on Broker of assessee

July 7, 2017 1479 Views 0 comment Print

There are two appeals under consideration pertaining to two different assessees for the AY 2005-06. Since, the issues raised in these appeals are identical, therefore, for the sake of convenience, both these appeals are clubbed, heard combinedly and disposed of in this consolidated order.

Input Tax Credit on Stock of Goods held on 30.06.2017 & Anti-Profiteering Measures

July 7, 2017 14148 Views 2 comments Print

It is mandatory to pass on the benefit due to reduction in rate of tax or from input tax credit to the consumer as an anti-profiteering measure.

Gist of Various GST notifications at one place

July 7, 2017 5283 Views 11 comments Print

We are summarising herewith gist of the various Notifications at one place. 1. The Government has eased out requirement to mention HSN code of items in tax invoice under GST as mentioned in a table below:- 12/2017-Central Tax,dt. 28-06-2017

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