"14 September 2018" Archive - Page 4

Punjab State Development Tax Rules, 2018

Notification No.G.S.R.71/P.A.11/2018/S.23/2018 (14/09/2018)

(1) These rules may be called the Punjab State Development Tax Rules, 2018. (2) They shall come into force on and with effect from the date of their publication in the Official Gazette....

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TDS / TCS Provision under GST effective from 1st October 2018

Central Government vide notification No.50-Central Tax-Dated 13-09-2018 & notification No.51-Central Tax-Dated 13-09-2018 has appointed 1st day of October 2018 as the date on which the provision of Sec 51 (TDS) & Sec 52 (TCS) shall come into force. 1. Who is required to Deduct TDS under GST Section 51 of the CGST Act, 2017 has [&h...

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Posted Under: Corporate Law |

Analysis of GST Notifications dated 13.09.2018 related to TDS, TCS and Form 9C

The Central Government has issued the various Notifications on 13.09.2018 related to the Provisions of TDS, TCS and Form-9C. In this article we will see the detailed analysis of the Notification and we will also discuss about Search by PAN” option under “Search Taxpayer” Tab in pre login mode. 1. The Central Government has notified ...

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Posted Under: Corporate Law |

IBBI Circular on Voting in Committee of Creditors

Circular No. IBBI/CIRP/018/2018 (14/09/2018)

A dissenting financial creditor means a fmancial creditor who voted against the resolution plan or abstained from voting for the resolution plan, approved by the CoC. In this background, an issue has been raised whether a financial creditor...

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“Here I Come” — TDS Provisions under GST (01.10.2018)

The Central Government hereby, vide notification no. 50/2018 and 51/2018 — Central Tax, appoints the 1st day of October, 2018, as the date on which the provisions of section 51 and 52 of CGST Act (Provisions related to TDS and TCS) Shall come into force with respect to persons specified under respective sections. Tax Deducted […]...

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Posted Under: Corporate Law |

10 FAQs on ‘Anti-profiteering’ activity under GST

1. What is an ‘Anti-profiteering’ activity? The suppliers of goods and services should pass on the benefit of any reduction in the rate of GST on such supplies or the benefit of input tax credit to the recipient by way of commensurate reduction in prices. The wilful action of not passing of such above said […]...

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Posted Under: Corporate Law |

Benefit of reduction in GST rate has to be passed on to customers: NAA

National Anti-Profiteering Authority in their recent judgement in case No.6/2018 dated 07/09/2018 in case of Shri Pawan Sharma Vs. M/s Sharma Trading Company, found that an assessee had involved in profiteering in contravention of the provisions of Section 171 of the CGST Act, 2017....

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Posted Under: Corporate Law |

Analysis of GST Notifications dated 13-09-2018

TDS and TCS provisions have been introduced in GST vide notifications issued on 13-09-2018. Further reconciliation statement GSTR-9C has been introduced for registered persons having annual turnover more than 2 crore. This article attempts to analyse the notifications issued on these subjects...

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Non Availability of Input Tax Credit under GST

Hello friends greetings for the day, in the current article we will discuss about non availability of input tax credit under GST As per section 17 of CGST Act, there are certain conditions under which input tax credit is not available and we will discuss each and every scenario and exception thereto. As per Section […]...

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Posted Under: Corporate Law |

Why GST will not bring down petrol-diesel prices

CA Vivek Agrawal Let’s first answer why not bringing Petrol and Diesel under GST purview when the Central government can easily get it cleared. 1) It’s very easy and low cost requirement to collect taxes on petrol and diesel than income tax and others. 2) There is very low tax revenue leakages on this items. 3) Excise and ...

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Posted Under: Corporate Law |