"10 September 2017" Archive

Latest PLUS and OLD bottleneck clusters in GST

Since introduction of GST in July 2017, it has been a challenging task for the dealers, irrespective of the fact as the whether the dealer is migrated from earlier VAT registration or a new registered dealer under GST itself. N number of issues reported by dealers in regard to filing of returns in GST portal […]...

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GST Ka Pitrupaksh; Taxpayer Daksh aur Governments Durlaksha

In GST, old laws subsumed and GST has been made applicable. It means 17 acts like VAT, Service tax, Excise duty, Customs duty etc. are ancestors of the GST. Because of this there is not calmness anywhere. So it is very important to do there worship (remove the difficulties). Similarly, the worship of GST Computerised Network is to be don...

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Supply To SEZ Under GST Regime

By following the above principle of destination based taxation exports continue to remain zero rated and a similar benefit continues to be given to Special Economic Zones (SEZs) under GST law. While this benefit is extended to processing zones of the SEZs, sales from SEZ to Domestic Tariff Area (DTA) continue to remain taxed under GST sys...

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One person company

The concept of One Person Company [OPC] is a new vehicle/form of business, introduced by The Companies Act, 2013 [No.18 of 2013], thereby enabling Entrepreneur(s) carrying on the business in the Sole-Proprietor form of business to enter into a Corporate Framework. One Person Company is a hybrid of Sole-Proprietor and Company form of busi...

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Exemption U/s. 11 cannot be denied for delayed-filing of audit report alongwith return due to seizure of accounts

DIT(E) Vs. Vishwa Hindu Parishad (Delhi High Court)

Conclusion: Where assessee trust could not file audit report as its accounts having been seized were released for quite a shorter time period before filing of return, however, the audit report had been filed along with revised return filed by assessee even before last date prescribed for completion of assessment, AO was not justified in d...

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The West Bengal Goods And Services Tax Act, 2017

West Bengal Act XXVIII of 2017 (10/09/2017)

THE WEST BENGAL GOODS AND SERVICES TAX ACT, 2017 An Act to make a provision for levy and collection of tax on intra- State supply of goods or services or both by the State of West Bengal and the matters connected therewith or incidental thereto....

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GST on dealers dealing exclusively in Exempt Food Grains & Pulses

Dealers in APMC market who are dealing exclusively in exempt commodities (Nil Rated) i.e. food grain & Pulses sold under unregistered brand -name, are not required to obtain registration u/s 23 of CGST Act....

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Highlights of 21st GST Council Meet

Another Council meeting held in Hyderabad on September 9, 2017, headed by Finance Minister Arun Jaitley concluded various changes. Major changes are being discussed below: #Extension of due dates for filing Returns: For the month of July: Details/Returns Revised due date GSTR-1 Oct 10, 2017* GSTR-2 Oct 31, 2017 GSTR-3 Nov 10, 2017 GSTR-6 ...

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GST Council recommends Change in GST Rates on 40 Type of Goods

LIST OF GOODS FOR CHANGE IN GST RATE RECOMMENDED BY GST COUNCIL IN ITS 21st MEETING HELD ON 9TH SEPTEMBER, 2017 1. The GST Council has recommended changes in the GST rates on the following goods: S. No. HSN Description Present GST Rate Recommended GST rate 1. 0802 Walnuts, whether or not shelled 12% 5% […]...

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Proposed Increase in Compensation Cess rate on SUV, Large & Mid-Segment Cars

Increase in rate of the Compensation Cess on certain specified motor vehicles As per discussions in the 21st GST Council Meeting held on 9th September, 2017: Segment Heading Present Compensation Cess rate Proposed Compensation Cess rate Passenger Vehicles of heading 8703 Small Cars (length < 4 m ; Petrol<1200 cc) 8703 1% No change S...

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