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 denying exemption under section 11.
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.
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.
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 Oct […]
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% […]
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 Small […]
RBI actually uses sophisticated Currency Verification & Processing (CVPS) machines for checking the numerical accuracy and genuineness of the currency notes, including SBNs. These machines are way superior to the note counting machines.
Defining export of service has been very tricky due to intangible nature of service transaction and contradictory provisions in GST Law. Due to this nature of services, there has been constant confusion regarding meaning of export of services and its ramifications in various types of transactions. Let us discuss here one such case of supply of services to SEZ unit / SEZ Developers.
In a major relief to all Registered Persons, In 21st GST COUNCIL MEETING – Some important DECISIONS/ Recommendations were given such as – RETURN FILING DATE EXTENDED for GSTR-1 GSTR – 2 GSTR-3 for July’17 Some Changes in GSTR-4 & GSTR – 6 Returns Compliances COMPOSITION SCHEME can be availed till Sept’17 RELIEF for GST […]
GSTR-3B will continue to be filed for the months of August to December, 2017. A registered person (whether migrated or new registrant), who could not opt for composition scheme, shall be given the option to avail composition till 30th September 2017 and such registered person shall be permitted to avail the benefit of composition scheme with effect from 1st October, 2017.
