"23 July 2018" Archive

CBIC collecting information on GST related issues for MSME

D.O. No. V(30)/DGGST/Tech/82/2018 (23/07/2018)

As you are aware, in the 28th GST Council Meeting held on 22nd July, 2018, it was decided to have a GST Council Meeting exclusively to focus upon the issues / hardships faced by Micro, Small & Medium Enterprises (MSME) related to GST on 4r5 August, 2018.The session would consider on all aspects of GST with specific focus upon law...

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Gujarat’s economic growth impressive but GST remains a challenge

Gujarat’s rapid progress in key macroeconomic parameters has been impressive and it has shown a lead to the overall economic development but GST remains one of the big challenges ...

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Procedure for nominated agencies to import gold/ silver/ platinum against Export

Circular No. 23/2018-Customs (23/07/2018)

Circular No. 23/2018-Customs Dated: 23rd July, 2018- Procedure to be followed by nominated agencies importing gold/ silver/ platinum under the scheme for ‘Export Against Supply by Nominated Agencies’-reg. F.No. DGEP/G&J/22/2018 DIRECTORATE GENERAL OF EXPORT PROMOTION Ministry of Finance, Deptt. of Revenue 8th Floor, Tower-2, LIC, ...

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Deemed Export Benefits for supplies to projects funded by Organizations such as JICA

Policy Circular No. 11/2015-2020-DGFT (23/07/2018)

The issue of refund/exemption of TED for supplies to the Projects funded by JICA etc. (other than 1BRD, IDA and ADB) under para 8.2(d) of FTP 2009-14 has been considered in this Directorate in consultation with Department of Revenue and Department of Economic Affairs. ...

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Simplified GST Return Process

The formats and business process approved on 21st July 2018 in 28th GST Council Meeeting were in line with the basic principles with one major change i.e the option of filing quarterly return with monthly payment of GST in a simplified GST return format by the small tax payers....

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28th GST Council Updates- A Quick Read

We present to you key decisions are taken by the GST Council in a meeting held on 21st July 2018. Some decisions will be given effect by way of issuing Notifications and few are to be placed in Parliament to amend the GST Laws....

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GST Advance Ruling Mechanism

An advance ruling under GST helps the applicant in planning his activities, which are liable for payment of GST, well in advance. It also brings certainty in determining the tax liability, as the ruling given by the Authority for Advance Ruling is binding on the applicant as well as Government authorities. Further, it helps in […]...

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TDS under GST

The concept of TDS has been incorporated under GST with the intent to bring high value transactions under control. Although, GST has no effect on tax revenue of Government,the underlying aim is to enhance the control and prevent tax evasion.The provisions regarding TDS are goverened by section 51 of the CGST Act,2017....

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Taxation of collaboration agreements of properties

Ques: How does the taxation of collaboration agreements work? Ans: When the owner sells the land right to the builder, he incurs capital gain on such sale pursuant to the collaboration agreement....

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Recommendations of 28th GST Council Meeting- Whats good & whats not

The major recommendations are as detailed below:- 1. Composition dealers:- Upper limit of turnover for opting for GST composition scheme to be raised from Rs. 1 crore to Rs. 1.5 crore. Present limit of turnover can now be raised on the recommendations of the Council. > Composition dealers to be allowed to supply services (other than [...

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