Brake pads for use as brake assembly and its parts thereof for tractors attract 18% GST (9% CGST+9% HGST) and the brake pads manufactured as parts and accessories of motor vehicles of heading 8701 to 8705 (other than tractors) attract 28% GST (14% CGST+14% HGST)
Whether the product ‘Battery for Mobile Handset’ whether it be separable or non-separable i.e., whether it be detachable or non-detachable, when sold to the mobile handset manufacturers who uses the same to make it form part of the mobile handset will, qualify to be classified under heading-85 having description “Parts for manufacture of Telephones for cellular networks or for other wireless networks?
In GST, firewood is exempted as per HSN Code 4401. There is no differentiation between soft wood and hardwood in GST. It is hereby clarified that rate of tax on rubber wood in the aforesaid transaction is 18% under the HSN 4403.
Role of Secretarial Standards Set a unified code of secretarial practices and ethics to be followed by corporates Facilitate dispute resolution between various stakeholders Provide clarity where the law is silent or ambiguous Boost confidence of investor and in particular, the Institutional Investor. Provide assurance to Directors, in particular Independent Directors and to Bankers, Regulators and other stakeholders Set higher benchmarks of Ethics and Corporate Governance
It has been decided to permit LES in commodity derivatives contracts subject to the requirements stipulated vide above mentioned SEBI Circular dated April 23, 2014.
It has been decided to make available following additional route for allotment of UAN for enrollment as member of EPS, 1995 in the event of non-possession of aadhar number to facilitate immediate enrollment as member and to avoid delay in remittance of contributions in respect of the new employees.
All Income Tax Offices throughout India shall remain open on 29th, 30th and 31st March, 2018. The ASK Centers shall also be kept open on these days.
As per clause (68) of section 2 of CGST Act, 2017, job work means any treatment or process undertaken by a person on goods belonging to another registered person and the expression job worker shall be construed accordingly.
CIT(A) has erred in confirming the addition wrongly made under section 153A of the Act, without there being any adverse material on record against the assessee; that since the assessee had no business income, no books of account were maintained and the addition was made only on the basis of the assessee’s pass book, which is not a book of account; that as such, the addition made under section 68 of the Act is not sustainable.
Even though law does not have any provision, goods need to be cleared from ‘Customs authorities’. These authorities including CBEC are considers themselves as law. These authorities will not allow goods to be cleared until and unless tax is paid on such sales. So, let us look at the provisions to claim Input Tax Credit (in short ‘ITC’) on such sales since many of the industries are paying taxes so as to clear goods.
