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Archive: 04 October 2017

Posts in 04 October 2017

How To Change Email And Phone On GST Portal

October 4, 2017 14514 Views 8 comments Print

Now, if a taxpayer wants to edit email Id / mobile no. of primary authorized signatory, he can do this by using following steps at GST portal ( www.gst.gov.in)

CBEC extends Facility of LUT to all exporters

October 4, 2017 27897 Views 0 comment Print

CBEC hereby specifies conditions and safeguards for furnishing a Letter of Undertaking in place of a Bond by a registered person who intends to supply goods or services for export without payment of integrated tax –

Deduction U/s. 80-IC allowed despite Belated filing of return if delay is because of Reasonable cause

October 4, 2017 5946 Views 0 comment Print

Where assessee filed return within extended period of section 139(4) and delay was caused by reason beyond the control of assessee, liberal interpretation was to be given to procedural requirement of section 80AC and denial of deduction under section 80-IC was not, therefore, justified.

Fourth Bi-monthly Monetary Policy Statement, 2017-18- Resolution of MPC RBI

October 4, 2017 675 Views 0 comment Print

The decision of the MPC is consistent with a neutral stance of monetary policy in consonance with the objective of achieving the medium-term target for consumer price index (CPI) inflation of 4 per cent within a band of +/- 2 per cent, while supporting growth. The main considerations underlying the decision are set out in the statement below.

Twitter reply or FAQ by CBEC in few cases contradictory & Creating confusion: ICAI

October 4, 2017 2481 Views 0 comment Print

Solution provided through Twitter and /or FAQ in some cases are contradictory in nature and even FAQ are having disclaimer which is creating confusion. Supply of Business Assets on which Credit has not been availed is subject to tax again Twitter has clarified that tax on the sale of capital assets is not subject to […]

GST: Provide Adhoc transitional credit to all Manufacturer / Service provider: ICAI

October 4, 2017 3786 Views 0 comment Print

Transitional credit not being available to some manufacturers/ service providers would be discriminatory and impact the margins. Needs to be provided to all if the goods/ services earlier were not liable to tax.

Issues from Mandatory Registration U/s. 9(3) for Reverse Charge purpose: ICAI Suggestions

October 4, 2017 3642 Views 0 comment Print

Section 9(3) of the CGST Act, 2017 provides that the Government may, on the recommendations of the Council, by notification, specify categories of supply of goods or services or both, the tax on which shall be paid by the recipient on reverse charge basis.

Exempt SSI from Compulsory Registration in case of Inter State Supply: ICAI

October 4, 2017 1566 Views 0 comment Print

Compulsory Registration U/s 24 of CGST Act, 2017 in case of Inter State Supply As per Section 24 of CGST Act, 2017 in case of Inter State Supply of Goods or Services Compulsory registration is required to be obtained. Issue : Small assessee especially service provider is required to obtain registration causing hardship to the […]

Items of common use attracting lower rates under GST

October 4, 2017 1068 Views 0 comment Print

> Milk powder, > Curd, Lassi, Butter milk > Unbranded Natural Honey > Dairy spreads > Cheese > Cashew nut > Raisin > Spices > Tea > Wheat > Rice > Flour > Soyabean > oil > Groundnut oil > Palm oil > Sunflower oil > Coconut oil > Mustard Oil > Other vegetable edible oils > Sugar > Palmyra jaggery > Sugar confectionery > Pasta, spaghetti, macaroni, noodles

Anti-dumping duty on imports of “PNA” from China PR

October 4, 2017 627 Views 0 comment Print

Whereas, the Designated Authority, vide notification No. 15/09/2016-DGAD, dated the 1st September, 2016, published in the Gazette of India, Extraordinary, Part I Section 1, dated the 1st September, 2016 had initiated a sunset review in the matter of continuation of anti-dumping duty on imports of Para Nitro Aniline (PNA) (hereinafter referred to as the subject goods)

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