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Archive: 13 October 2017

Posts in 13 October 2017

CBEC amends IGST Rate on various Products as per 22nd GST Council Decision

October 13, 2017 5595 Views 0 comment Print

G.S.R. (E).- In exercise of the powers conferred by sub-section (1) of section 5 of the Integrated Goods and Services Tax Act, 2017 (13 of 2017), the Central Government, on the recommendations of the Council, hereby makes the following amendments in the notification of the Government of India

IGST under RCM on services provided by Overseeing Committee members to RBI

October 13, 2017 3351 Views 0 comment Print

GSR……(E).-In exercise of the powers conferred by sub-section (3) of section 5 of the Integrated Goods and Services Tax Act, 2017 (13 of 2017), the Central Government on the recommendations of the Council hereby makes the following further amendments in the notification of the Government of India

CBEC amends Exemptions on supply of services under IGST Act, 2017

October 13, 2017 3597 Views 0 comment Print

In exercise of the powers conferred by sub-section (1) of section 6 of the Integrated Goods and Services Tax Act, 2017 (13 of 2017), the Central Government, on being satisfied that it is necessary in the public interest so to do, on the recommendations of the Council, hereby makes the following further amendments in the notification of the Government of India

Reverse charge mechanism u/s 5(4) of IGST Act suspended till 31.03.2018

October 13, 2017 34104 Views 5 comments Print

Council, hereby exempts the inter-State supply of goods or services or both received by a registered person from any supplier, who is not registered, from the whole of the integrated tax leviable thereon under sub-section (4) of section 5 of the said Act.

Giving awards, felicitating eminent people and organizing public debates is not charitable activity

October 13, 2017 1122 Views 0 comment Print

Denying 12AA registration to a Trust, ITAT held that activity of organizing meetings and giving awards to eminent people do not fit into the definition of charitable purpose under Income Tax Act, 1961.

CGST order removing difficulties in implementing provisions of composition scheme

October 13, 2017 4269 Views 0 comment Print

Whereas, certain difficulties have arisen in giving effect to the provisions of the Central Goods and Services Tax Act, 2017 (12 of 2017), hereinafter in this order referred to as the said Act, in so far as it relates to the provisions of section 10 of the said Act;

No Penalty for claim which was allowed at one Stage and disallowed later on

October 13, 2017 1449 Views 0 comment Print

If a claim made by the assessee has been allowed at one stage and later on has been disallowed, ostensibly, the assessee can said to have some bona fide belief for making such a claim.

Challenge pending cannot be equated to challenge succeeding: Bombay HC

October 13, 2017 603 Views 0 comment Print

CIT Vs Bharati Vidyapeeth (Bombay High Court); The only argument is, namely, if the Revenue succeeds in the Appeal challenging the order of the Tribunal restoring assessee’s registration, then it may be open for the Revenue to tax its income and by holding that both Sections 11 and 12 of the IT Act have no application […]

TDS deductible U/s. 194I on Composite licence fee comprising rent and royalty

October 13, 2017 29652 Views 0 comment Print

These are 16 appeals by the Revenue under section 260A of the Income Tax Act, 1961 (Act). 8 of them are quantum appeals and the remaining 8 are penalty appeals. As far as the quantum appeals are concerned, these are ITA Nos. 73, 75, 77, 78, 82, 86, 113 and 123 of 2005 which are directed against the common order dated 16-3-2004

Distribution of GST Provisional Id and Access Token of Phase 14 dealers

October 13, 2017 603 Views 0 comment Print

Provisional Ids and Access Token of Phase 14 dealers, are now made available by GSTN. Dealer can obtain their Provisional Ids from department’s portal www.mahavat.gov.in, using their login credentials. The list of all such dealers is published under GST Tab on Mahavat portal.

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