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Archive: 05 September 2017

Posts in 05 September 2017

Postmortem of Union Budget 2024: A Comprehensive Webinar

July 18, 2024 4431 Views 3 comments Print

Join our webinar on July 24-25 for an in-depth analysis of Union Budget 2024. Learn about tax proposals, sector impacts, and investment insights. Register now!

Live Course on 360 degree Analysis of Input Tax Credit from a Litigation Perspective

July 18, 2024 3906 Views 0 comment Print

Join CA Sachin Jain for a live course on Input Tax Credit from a litigation perspective. Gain practical insights and master ITC complexities. Register now!

Directors disqualified U/s. 164(2)(a) cannot apply for Name Availability

September 5, 2017 6693 Views 0 comment Print

Directors disqualified under Section 164(2)(a) of the Companies Act, 2013 and who are associated with struck off companies (S.248) are advised not to make any application for Name Availability (INC-1), Incorporation of Companies (INC-7/SPICe-INC-32/URC-1/INC-12). Forms filed by such Directors shall be rejected summarily by the Central Registration Centre(CRC). Further, attention is drawn to the provisions […]

FAQs on levy of GST on supply of services to Co-operative society

September 5, 2017 5688 Views 1 comment Print

The society collects the following charges from the members on quarterly basis as follows: 1. Property Tax-actual as per Municipal Corporation of Greater Mumbai (MCGM) 2. Water Tax- Municipal Corporation of Greater Mumbai (MCGM)

7 FAQs on accommodation services, casino entry fees, GST on horse racing, legal services etc.

September 5, 2017 3555 Views 0 comment Print

a) Will GST be charged on actual tariff or declared tariff for accommodation services? b) What will be GST rate if cost goes up (more than declared tariff) owing to additional bed. c) Where will the declared tariff be published? d) Same room may have different tariff at different times depending on season or flow of tourists as per dynamic pricing. Which rate to be used then?

ICAI President’s Message – September 2017

September 5, 2017 1008 Views 0 comment Print

Goods and Services Tax (GST) regime has been rolled out. Though teething difficulties are being faced, I am confident that the Government will look into these and endeavour to sort them out. We at ICAI are giving feedback to the Government on the difficulties being faced.

Understanding Implications of Estate and Gift Tax

September 5, 2017 2217 Views 0 comment Print

Sandeep Nerlekar, MD & CEO, Terentia Estate duty, inheritance taxes, or a combination thereof, are prevalent in quite a few developed nations, notably USA, UK, Switzerland, Germany and France. However, there is an equally long list of countries which do not levy estate or inheritance taxes, including nations like Australia, Singapore, Canada, Russia and Sweden, […]

50 GST FAQs on Composition, Exports, Invoice, Returns, Job Work & Levy

September 5, 2017 6420 Views 2 comments Print

COMPOSITION Q.1 Whether a person can avail the composition scheme on Small Retail Trading of goods if he is holding both incomes like Sale of business: Rs. 25 lakh (Small Retail Trader) and Rental income: Rs. 12 lakh, whereas the person was registered earlier in VAT Composition Scheme and was paying Service Tax on rental income? […]

Release of duty drawback to exporters after implementation of GST

September 5, 2017 1338 Views 0 comment Print

It has been decided that the exporters, who have filed the shipping bills between 01.07.2017 and 26.07.2017 while claiming the higher All Industry Rates (AIRs) under Duty Drawback Scheme viz. rates and caps available under column (4) and (5) of the schedule of All Industry rates of Duty drawback

Contract Labour (Regulation and Abolition) Central Amendment Rules, 2017

September 5, 2017 8193 Views 1 comment Print

69. All wages shall be paid in current coin or currency notes or by cheque or by crediting the wages in the bank account of the workman: Provided that the appropriate Government may, by notification in the Official Gazette, specify the establishment or class of establishments, the employer of which shall pay to every workman employed in such establishment or class of establishments, the wages only by cheque or by crediting the wages in his bank account.

MGST: Extension of due date for submission of GSTR-1, GSTR-2 and GSTR-3

September 5, 2017 4962 Views 0 comment Print

No. JC(HQ)-1/GST/2017/Noti/18/ADM-8.—In exercise of the powers conferred by the second proviso to sub-section (1) of section 37, the first proviso to sub-section (2) of section 38 and sub-section (6) of section 39 read with section 168 of the Maharashtra Goods and Services Tax Act, 2017 (Mah. XLIII of 2017)

CBEC notifies extended due date for filing of GSTR Form- 1,2,3

September 5, 2017 5490 Views 0 comment Print

CBEC vide notification No. 29/2017 dated 5th September notifies the extended due date for Filing of Form GSTR-1, Form GSTR-2 and Form GSTR-3 for the month of July and August 2017

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