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Archive: 26 October 2017

Posts in 26 October 2017

Live Course on Appeal, Pleading & Drafting under GST by CA Sachin Jain

May 15, 2024 7170 Views 0 comment Print

oin us for an immersive live course led by renowned expert CA Sachin Jain, as we delve into the intricacies of appeal, pleading, and drafting under GST.

Section 79 and its implications on global and domestic transactions/ restructuring

October 26, 2017 5157 Views 0 comment Print

As per section 79 of the Act, in case of a change in shareholding of a company, other than a company in which the public is substantially interested, no loss incurred in any previous year is allowed to be carried forward and set-off, unless shares carrying not less than 51% of the voting power are beneficially held by persons who also held such shares in the year in which the loss was incurred.

FORM GST TRAN – 1 due date extended to 30th November 2017

October 26, 2017 79011 Views 18 comments Print

FORM GST TRAN – 1 (with revision facility) extended to 30th November 2017. Suitable order will be issued shortly.FORM GST TRAN 1 is required to be filed to avail the credit for the taxes filed before the roll out of GST in July, 2017.

Review on properties belonging to 2.09 lakh struck-off companies

October 26, 2017 1545 Views 0 comment Print

Minister of State for Law, Justice and Corporate Affairs, Mr. P. P. Chaudhary reviews the follow-up action by the States on properties belonging to around 2.09 lakh companies struck-off from the Register of Companies by the Central Government.

GST on superior kerosene oil for manufacture of Linear Alkyl Benzene

October 26, 2017 4080 Views 0 comment Print

Briefly stated, references have been received related to applicability of GST on the superior kerosene oil [SKO] retained for the manufacture of Linear Alkyl Benzene [LAB].

10 latest FAQs on GST Rates on various Products

October 26, 2017 5367 Views 3 comments Print

What is the classification and GST for printed menu cards single sheet, folded or laminated or Multi sheet hard bonded like a book with or without covers which used by hospitality industry? Ans: These items fall under HS code 4911 and attract 12% GST.

Lower Prices Under GST – Anti-profiteering Measures to Benefit Consumers

October 26, 2017 2199 Views 1 comment Print

The Government is committed to ensure all consumers enjoy the benefit of lower prices of goods and services under GST. Under GST, suppliers of goods and services must pass on any reduction in the rate of tax or the benefit of input tax credit to consumers by way of commensurate reduction in prices.

CBDT invite suggestions on reducing litigation in all appellate forums

October 26, 2017 984 Views 2 comments Print

The Central Board of Direct Taxes vide Office Order F.No.279/Misc/M-51/2017- 111 dated 12th July, 2017 has constituted a Committee to prepare a Concept Note to revamp the existing appeal mechanism with a view to urgently address the issue of reducing litigation considering the pendency of litigation in all appellate forums.

Saved vs Submitted records appearing in Form GSTR 2

October 26, 2017 2772 Views 1 comment Print

The records that are part of counterparty supplier’s submitted GSTR -I are known as Submitted records. The records that are part of counterparty supplier’s GSTR -1 which is yet to be submitted/filed are known as Saved records.

Composition Scheme – Latest Developments

October 26, 2017 2967 Views 1 comment Print

It is a scheme which is mainly formulated for small businesses. Under this scheme, the small businesses enjoy certain benefits such as concessional rate of tax and less compliance burden.

Right to Property is Constitutional / Legal and Human Right

October 26, 2017 21897 Views 0 comment Print

In absence of law prohibiting transfer, no restriction to transfer the land can be directed by respondent No.2 as right to property under Article 300-A of the Constitution of India is not only constitutional or legal right, but it is also human right and a person can be deprived of that right only by authority of law.

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