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Archive: 20 June 2018

Posts in 20 June 2018

DGFT permits Supply of essential commodities to Maldives during 2018-19

June 20, 2018 462 Views 0 comment Print

Export of Potatoes, Onions, Rice, Wheat Flour, Sugar, Dal and Eggs has been permitted to the Republic of Maldives under bilateral trade agreement between Government of India and Government of Maldives during the period 2018-19 w.e.f. April, 2018 as per the quantities indicated in the Table at Para 1 above. The export of above items to Republic of Maldives will be exempted from any existing or future restriction / prohibition on export.

HC explains Law related to Arrest for Income Tax Default

June 20, 2018 11205 Views 0 comment Print

M A Zahid Vs ACIT (Karnataka High Court) In this case First and foremost the petitioner is not accused of committing any non-bailable offence so as to invoke the jurisdiction under section 438 of Cr.P.C. Secondly, the apprehension expressed by the petitioner is also without any basis. As could be seen from the above Rules, […]

Minutes of RBI Monetary Policy Committee Meeting June 4-6, 2018

June 20, 2018 600 Views 0 comment Print

The meeting was attended by all the members – Dr. Chetan Ghate, Professor, Indian Statistical Institute; Dr. Pami Dua, Director, Delhi School of Economics; Dr. Ravindra H. Dholakia, former Professor, Indian Institute of Management, Ahmedabad; Dr. Michael Debabrata Patra

GST: Supply of service to Companies cannot be regarded as Service to Govt

June 20, 2018 1251 Views 0 comment Print

Recipient of the service Odisha Knowledge Corporation Limited (OKCL) is a body corporate which cannot be regarded as Government. Therefore, the activities of the applicant by way of supply, of goods and services under the ICT project are not covered under Entry 72 of the notification no.12/2017 dated 28.06.2017, to be entitled to the benefit of exemption from GST.

NO GST exemption on Man Power services to Hospital – cum – General Medical College and State Universities

June 20, 2018 10131 Views 0 comment Print

The services provided by the applicant, i.e. Man Power services to Hospital – cum – General Medical College and State University do not qualify for exemption under Sr. No. 66 of notification no. 12/2017-Central Tax (Rate) dated 28.06.2017 and corresponding notification No. 47/ST-2 Dt. 30.06.2017 of the State Tax.

National Guidelines on Economic, Social & Environmental Responsibilities of Business

June 20, 2018 6825 Views 0 comment Print

The National Guidelines on the Economic, Social and Environmental Responsibilities of Business (Guidelines) presented herein are the outcome of a process initiated by the Ministry of Corporate Affairs (MCA) in September 2015.

CBIC prescribes effective rate of duty on specified goods vide Notification No. 49/2018-Customs

June 20, 2018 2475 Views 0 comment Print

G.S.R. (E).- In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962) and sub-section (12) of section 3 of the Customs Tariff Act, 1975 (51 of 1975), the Central Government, being satisfied that it is necessary in the public interest so to do

CBIC increases tariff rate on goods in chapters 7, 8, 28, 38, 72 & 73 in First Schedule to Customs tariff Act, 1975

June 20, 2018 1110 Views 0 comment Print

Seeks to increase the tariff rate on goods in chapters 7, 8, 28, 38, 72 and 73 in the First Schedule to the Customs tariff Act, 1975 vide Notification No. 48/2018–Customs dated 20th June, 2018.

HC allows manual filing of GST TRAN-1 as electronic system not responded

June 20, 2018 1812 Views 1 comment Print

The petitioner has alleged in the petition that despite making several efforts on the last date for filing of the application, the electronic system of the respondent no.2 did not respond, as a result of which the petitioner is likely to suffer loss of the credit that it is entitled to by passage of time.

How to correctly file Invoice date details in Table 6A of Form GSTR-1

June 20, 2018 10149 Views 3 comments Print

Under Rule 96 of the CGST Rules, 2017, the refund of IGST paid on exports of goods is to be disbursed by Customs. For this COST System transmits invoice level data, after validations, to the ICEGATE system, which would further validate with Shipping Bill and process the refund.

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