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Archive: 28 December 2017

Posts in 28 December 2017

TRAN-01 & Table 6A of Form GSTR-1 disabled wef 28.12.2017

December 28, 2017 8505 Views 5 comments Print

As per information received from GSTN, It is informed that links related to following forms, have been disabled on GST Portal w.e.f. 28.12.2017

Real Estate Transactions and GST on Goods And Services

December 28, 2017 14157 Views 1 comment Print

Recently I happened to read in the newspapers that land, real estate and natural gas could soon come within the purview of GST. This made me to think, real estate apart, whether we can treat land as goods and levy tax on land under Good And Services Tax Act. LAND AND ITS CHARACTERISTICS First and […]

ICAI Pre Budget 2018 Suggestion on Service Tax, Cenvat Credit Rules, Excise Duty, Custom Duty & CST

December 28, 2017 1710 Views 0 comment Print

A suitable amnesty scheme must be thought of for all Central Laws and State Laws which have been merged in GST in one go to reduce existing litigation. The scheme must be well thought out since most schemes have failed for the following key reasons, among others

Management Consultancy Services u/s-144 of Companies Act 2013

December 28, 2017 20223 Views 0 comment Print

Management Consulting involves helping a business institution enhance their performance, by analyzing the current problems and creating a strategy for development. Organizations may require the services of management consultants for varied reasons.

Accounting Standard (AS) 10 Property, Plant and Equipment

December 28, 2017 85467 Views 0 comment Print

The objective of Accounting Standard (AS) 10 Property, Plant and Equipment is to prescribe the accounting treatment for property, plant and equipment so that users of the financial statements can discern information about investment made by an enterprise in its property, plant and equipment and the changes in such investment.

8 Recent Pronouncements on GST (Part- IV)

December 28, 2017 6621 Views 0 comment Print

Goods and Services Tax (GST), introduced from July 1, 2017 is almost six months old now but has resulted in operational and implementation disruptions affecting all stakeholders. GST law, as drafted and legislated, is not free from the interpretational hassles.

CIC issues SCN to CPIO & JCIT for misconduct & negligence under RTI Act, 2005

December 28, 2017 1617 Views 0 comment Print

Central Information Commission observed that the response provided by the CPIO/Respondent with respect to Points 03 and 04 was in total disregard to the provisions of the RTI Act, 2005 and contradictory response was provided by the Respondent during the hearing. The Commission therefore directs the Respondent, Mr. Sanjiv Kumar Roy, CPIO/JCIT, Range-03, Bokaro to show cause why penal action should not be taken against under the provision of Section 20(1) of the RTI Act, 2005 for this misconduct and negligence within a period of 30 days from the date of receipt of that order under intimation to the Complainant.

25 New FAQs on GST replied by GOI on 28.12.2017

December 28, 2017 19002 Views 1 comment Print

Registered as Composition dealer in UP VAT & Now as Regular in GST regism, how to claim LTC on TAX PAID stock in hand as on appointed date.

Impact of GST on Airline Industry and on OMC (Oil Marketing Companies)

December 28, 2017 3444 Views 0 comment Print

As we know VAT (Value Added tax) was introduced (in the year 2005) in most of the states in India with the prime motive of removing cascading effect (i.e to reduce tax on tax).z

Amend Sec. 47(viab) related to indirect transfer of capital asset situated in India

December 28, 2017 4809 Views 0 comment Print

The Finance Act, 2015 has amended provisions dealing with indirect transfer of capital asset situated in India. The amendment provides clarity on certain contentious aspects with regards to taxation of income arising or accruing from such indirect transfers.

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December 2017