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Archive: 26 July 2018

Posts in 26 July 2018

Priority of Tax Dues In Liquidation?

July 26, 2018 3678 Views 0 comment Print

The manner of distribution of the assets of a company during liquidation is fraught with ambiguity and settlement of such claims arising out of it has inconvenienced the parties concerned since the advent of the Insolvency and Bankruptcy Code, 2016 (Code).

The Smart Way to Find the Right Family Health Insurance

July 26, 2018 1680 Views 0 comment Print

A family health insurance is a kind of policy that offers coverage to the members of a family, and covers the costs of their medical or surgical expenses. Depending on the terms of the policy you have, you can either pay your expenses from your pocket and then get reimbursed, or the expenses can be paid by the insurance company directly to the healthcare provider.

Concessional CGST rate on specified handicraft items WEF 27.07.2018

July 26, 2018 35565 Views 3 comments Print

CBIC notifies concessional CGST rate on specified handicraft items vide Notification No. 21/2018-Central Tax (Rate), Dated: 26th July, 2018 with effect from 27th of July, 2018 to give effect to recommendations of 28th GST Council meeting which was held on 21.07.2018.

CBIC allows Refund of GST credit to fabric manufacturers

July 26, 2018 33429 Views 1 comment Print

CBIC allows Refund of accumulated credit on account of inverted duty structure to fabric manufacturers vide Notification No. 20/2018-Central Tax (Rate), Dated: 26th July, 2018.

Changes in List of goods exempt from CGST wef 27.07.2018

July 26, 2018 13008 Views 0 comment Print

CBIC amends list of goods exempt from GST vide Notification No. 19/2018-Central Tax (Rate), Dated: 26th July, 2018 with effect from 27th of July, 2018 to give effect to recommendations of 28th GST Council meeting which was held on 21.07.2018.

Revised CGST rates on various Goods WEF 27th July, 2018

July 26, 2018 20310 Views 2 comments Print

CBIC notifies reduced GST Rates on Several Goods vide Notification No. 18/2018-Central Tax (Rate), Dated: 26th July, 2018 with effect from 27th of July, 2018.

Composite supply of works contract to Govt- Term ‘Business’ clarified

July 26, 2018 4089 Views 0 comment Print

CBIC inserts following explanation in notification No. 11/2017 – Central Tax (Rate) in Table, against serial number 3 (Related to Composite supply of works contract to Government) , in column (3), in item (vi)- For the purposes of this item, the term ‘business’ shall not include any activity or transaction undertaken by the Central Government, a State Government or any local authority in which they are engaged as public authorities.

CGST on Services in relation to a function entrusted to a municipality

July 26, 2018 1953 Views 0 comment Print

CBIC notifies with effect from 27th of July, 2018 vide Notification No. 16/2018-Central Tax (Rate), Dated: 26th July, 2018 that services by way of any activity in relation to a function entrusted to a municipality under Article 243W shall be treated neither as a supply of good nor a service

CGST: RCM on services by individual DSAs to banks/ NBFCs wef 27.07.2018

July 26, 2018 14487 Views 1 comment Print

CBIC amends notification No. 13/2017- Central Tax (Rate) so as to specify services supplied by individual Direct Selling Agents (DSAs) to banks/ non-banking financial company (NBFCs) to be taxed under Reverse Charge Mechanism (RCM) vide Notification No. 15/2018-Central Tax (Rate), Dated: 26th July, 2018.

CBIC notifies CGST exemption on certain services from 27th July, 2018

July 26, 2018 12000 Views 0 comment Print

Seeks to amend notification No. 12/2017- Central Tax (Rate) so as to exempt certain services from CGST with effect from 27th of July, 2018 vide Notification No. 14/2018-Central Tax (Rate), Dated: 26th July, 2018.

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