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Archive: February, 2018

Posts in February, 2018

No Service tax on construction of Era business school & hostel for NIT Calicut

February 25, 2018 1617 Views 0 comment Print

Ld. Counsel for the appellant submits that the projects in question are not commercial in nature as Era Business School is an educational institution recognized by AICTE and awarding degrees/diploma recognized by law. It is his further submission that National Automative Testing Center is for testing the vehicles for homologation which is a statutory requirement as per motor vehicle rules for compliance by the manufacturer of automobiles.

Royalty for use of Dabur brand by Overseas Subsidiary is an international transaction and TP Adjustment can be applied

February 25, 2018 2745 Views 0 comment Print

A two-Judge Bench of the Delhi High Court in Dabur India Ltd. vs. Pr. Commissioner of Income Tax held that Transfer Pricing adjustment is applicable to overseas subsidiary despite of receiving any royalty.

VAT Scrutiny in Kerala- Guidelines for planning collection of Data

February 25, 2018 1320 Views 0 comment Print

The Government has given instructions to complete the back log VAT works and ensure improved revenue performance. The Department has developed the SCRUTINY MODULE to do the scrutiny and assessments efficiently as per the law, without any errors.

GSTN enables online filing of letter of Undertaking

February 25, 2018 68391 Views 66 comments Print

GSTN enables online filing of letter of Undertaking  : Instructions for filing LUT online on GST Portal:- Access the GST Website. The GST Home page is displayed. Login to the GST Portal with valid credentials. Go to User Services and Select the Tab “Furnishing Letter of Undertaking” Form GST RFD-11 is displayed. Select the financial year for which […]

Alternative mechanism to issued IGST refunds in case of refund stuck due to invoice mismatch SB005

February 24, 2018 17796 Views 2 comments Print

Ministry of Finance, Government of India on 23rd February 2018 issued a circular no. 05/2018-Customs providing alternative mechanism with Officer Interface in case of Refund of IGST on Export stuck due to Invoice mis-match (Code SB005).

Nil Rated, Zero Rated, Non-taxable and Exempt Supplies under GST

February 24, 2018 155076 Views 19 comments Print

With the Introduction of Goods and service Tax (GST), the traders are left confused with some of the provisions of the Act. Taking into consideration one such tangled provision, as to what is the difference between Nil rated and zero rated supplies, as well as non-taxable and exempt supplies.

SEBI qualifies QIP for achieving MPS

February 24, 2018 2314 Views 1 comment Print

SEBI, in its board meeting held on December 28, 2017[1] decided to introduce Qualified Institutions Placement (QIP) and Sale of shares up to 2% held by promoters/promoter group in open market, subject to certain conditions, to enable listed companies to comply with the MPS requirement.

Steps for filing Letter of Undertaking online on GST Portal

February 24, 2018 15159 Views 19 comments Print

Step: – 1: Login on GST Portal. Enter the Username, password and Captcha code, Click on ‘Login’ Step:-2 Click on Go to User Services and Select the Tab Furnishing Letter of Undertaking

Transitional treatment of Blocked Credits and Disputed Credits under GST

February 24, 2018 5391 Views 0 comment Print

Ministry of Finance, Government of India on 23rd February 2018 issued a circular no. 33/07/2018-GST providing Directions under Section 168 of the CGST Act regarding non-transition of CENVAT credit under section 140 of CGST Act or non-utilization thereof in certain cases

IBBI seeks public comments on contents of Request for Proposal (RFP)

February 24, 2018 1266 Views 0 comment Print

IBBI seeks public comments on contents of Request for Proposal (RFP) for inviting resolution plans for a corporate debtor going through Corporate Insolvency Resolution Process (CIRP) under Insolvency and Bankruptcy Code, 2016.

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