"15 November 2017" Archive

Procedure for Manual filing & processing of GST refund claims

Circular No. 17/17/2017-GST 15/11/2017

Due to the non-availability of the refund module on the common portal, it has been decided by the competent authority, on the recommendations of the Council, that the application/document/forms pertaining to refund claims on amount of zero-rated supplies shall be filed and processed manually till further orders....

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Apportionment of IGST with respect to advertisement services

Notification No. 12/2017 – Integrated Tax [G.S.R. 1424(E)] 15/11/2017

The proportion of value attributable to different States or Union territories, in the case of supply of advertisement services to the Central Government, a State Government, a statutory body or a local authority. under sub section (14) of section 12 of the Integrated Goods and Services Tax Act, 2017, in the absence of any contract between...

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Notice u/s 142(1) in cases related to substantial cash deposit during demonetisation: SOP

F.No. 225/363/2017-ITA.II 15/11/2017

On the basis of data analytics and information gathered during the first phase of online verification under 'Operation Clean Money', a list of assessees who had deposited substantial Cash in bank account(s) during the demonetisation period (8th November, 2016 to 30th December, 2016) but have not yet filed Income-tax return for Assessment ...

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Instruction for Processing of ITR-2, 3, 4, 5 & 6 with Form 26AS / 16A / 16

Instruction No. 10/2017 15/11/2017

Total income or loss shall be computed after making adjustment for addition of income appearing in Form 26AS or Form 16A or Form 16 (the three Forms) which has not been included in computing the total income in the return....

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Transfer Pricing & GST

The Goods and Services Tax (GST) is being introduced in the country after 13 year long journey since it was first discussed in report by Kelkar Task Force on indirect taxes. Agreeably, one could count GST as country’s biggest tax reform which can trigger transformation on how businesses works across all industries and overhaul India’s...

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Aadhaar as identity document for NRIs, PIOs & OCIs related services

Circular No.6-1/2016-UIDAI (DBT) 15/11/2017

An illustrative list of such cases wherein NRIs/PIOs/OCIs are reported to have been asked to submit or link Aadhaar in order to avail the services/benefits/schemes has been compiled and is placed as Annexure....

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GST on Restaurants

GST is also applicable to restaurant bills.  Under GST the rate of GST on restaurants is 12% in case of non-air conditioned restaurants and in case of air-conditioned restaurants, the rate is 18%. The tax rate is a bit lesser compared to the erstwhile tax regime where VAT was charged at 14.5% and 6% as Service […]...

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Report on Audit Quality Review (2016-17) of the Quality Review Board

The Board has issued a Report on Audit Quality Review (2016-17) providing findings, analysis and summary of observations made by the Technical Reviewers in review reports during the period which is available at the website of the Quality Review Board...

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CBEC exempt from payment of tax on advances received in case of supply of goods

Notification No. 66/2017-Central Tax [G.S.R. 1422(E)] 15/11/2017

CG notifies the registered person who did not opt for the composition levy under section 10 of the said Act as the class of persons who shall pay the central tax on the outward supply of goods at the time of supply as specified in clause (a) of sub-section (2) of section 12 of the said Act including in the situations attracting the provis...

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Seeks to exempt suppliers of services through an e-commerce platform from obtaining compulsory registration

Notification No. 65/2017-Central Tax [G.S.R. 1421(E)] 15/11/2017

An electronic commerce operator who is required to collect tax at source under section 52 of the said Act, and having an aggregate turnover, to be computed on all India basis, not exceeding an amount of twenty lakh rupees in a financial year, as the category of persons exempted from obtaining registration under the said Act:...

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