"01 September 2017" Archive

Correction of details furnished in GSTR-3B & Reco of Form GSTR 1, 2, 3

Circular No. 7/7/2017-GST (01/09/2017)

In case the registered person intends to amend any details furnished in FORM GSTR-3B, it maybe done in the FORM GSTR-1 or FORM GSTR-2, as the case may be. For example, while preparing and furnishing the details in FORM GSTR-1, if the outward supplies have been under reported or excess reported in FORM GSTR-3B, the same maybe correctly rep...

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Major Amendment In Secretarial Standard 2- On General Meeting

In this Flash editorial, the author referring amendment i.e. Secretarial Standard -2 (here after referred as SS-2) issued on July, 1st, 2015 (here after referred as Old SS) and Revised version of SS-2 effective from 1st October, 2017 issued by issued by Institute of Company Secretary of India (ICSI) dated 30th August, 2017....

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VIDEO – FAQs on filing GST TRAN – 1

FILING TRAN-1 is very important & as the due date is 28th Sept'17, Some of the important point covered as below, For all other SECTION wise & TABLE wise QUERIES, you can view the VIDEO in the link below, must subscribe my YouTube CHANNEL for more updates...

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GST: Analysis of E-Way Bill Rules

1. E-Way Bill Rules notified vide Rule 138 through Notification 27/2017 dated 30-08-2017., 2. The date of implementation has not been spelt. And it shall be notified later., 3. Exemption from E Way Bill,...

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5 Common Financial Planning Mistakes to Avoid

Financial Planning is a process which helps an individual to find out the shortest route between where you are and where you want to go financially. During this journey towards your financial destiny, there are some common mistakes which can off track you. Avoiding these mistakes will make the journey smoother and safer....

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Easy Notes on Place of Supply of Services under GST Regime

GST is primarily a destination-based consumption tax though there are occasions where it can be origin-based or the place of origin and destination may be same. This, in simple terms, means that the tax collected on supply of services should accrue to the jurisdiction or State in which those services are consumed. ...

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Refund Under GST – New Perspective

Refund can be claimed in multiple ways in GST regime and attempts have been made to benefit various organizations. This article analyses various concepts of refunds in new perspective...

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RCM vs Zero-rated supply under GST Regime

The intention of government for providing advantages to SEZ and supplier to SEZ by making such supply as zero-rated has been carried away by some provisions one of which is the RCM in case of supply to SEZ....

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Notice under section 143(2) has to be served within stipulated time

Cameron (Singapore) Pte Ltd Vs. ADIT (International Taxation) (ITAT Jaipur)

According to section 143(2) of the Income Tax Act, 1961(for short the Act), where a return has been furnished under section 139 of the Act, or in response to a notice under section 142(1) of the Act, the Assessing Officer(AO) or the prescribed income-tax authority, as the case may be, if, considers it necessary or expedient to ensure that...

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Be strong like a bamboo!

Walking my way to home, I stopped by a Bamboo Seller, an old man clad in dhoti, sitting under the canopy of a Gulmohar tree. Cluster of bamboos lay at his feet. They were no ordinary bamboos. No, they were, as the sign board claimed, Chinese Bamboo. Chinese Bamboo? I asked the seller who smiled toothily and said, Yeah, they are stronger a...

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