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Archive: 18 September 2018

Posts in 18 September 2018

Bombay HC took Objection of SMS from Dept Advocate that Court is pressurising him

September 18, 2018 1059 Views 0 comment Print

PCIT  Vs Starflex Sealing India Pvt. Ltd (Bombay High Court) SMS communication by Mr. Pinto to the Associate of this Court is contrary to the statement made on behalf of the Revenue yesterday by the learned Additional Solicitor General, assisted by Mr. Mohanty, learned advocate for the Revenue. Requesting an Advocate to put in a […]

‘Militry Malai Mithai’ is ‘Sweetmeat’; 5% GST applicable: MP AAR

September 18, 2018 3753 Views 0 comment Print

In re M/s. Italian Edibles Private Limited (GST AAR Madhya Pradesh) product in question i.e. ‘Militry Malai Mithai’ is a product made out of Skimmed Milk Powder, Sugar & Whey Powder as main ingredients with Emulsifiers etc. put up in small sachet/pouch in semi-liquid (paste) consistency, ready for consumption. The product cannot be termed as Dairy Product or […]

Notification No. 63/2018-Customs Dated 18th September, 2018

September 18, 2018 1038 Views 0 comment Print

Amendment to Customs Exemption Notifications No. 24/2015-Customs dated 08.04.2015 to align it with amendment in Foreign Trade Policy vide Notification No. 63/2018-Customs Dated 18th September, 2018

Increase in Dearness Relief to Central Govt/ family pensioners to 9% w.e.f. 01.07.2018

September 18, 2018 720 Views 0 comment Print

President is pleased to decide that the Dearness Relief admissible to Central Government pensioners/family pensioners shall be enhanced from the existing rate of 7% to 9% w.e.1 01 07.2018.

Extend Tax Audit / ITR Due date to 30th November 2018- AGFTC & ITBA

September 18, 2018 70971 Views 83 comments Print

AGFTC and ITBA has Requested Honourable Finance MInister to extend due date of 30th Sept. 2018 for submission of Tax Audit Reports and related I. Tax Returns for Ass. Yr. 2018-19 to 30th November 2018 vide its representation dated 17/09/2018. Relevant Text of the representation is as follows:- INCOME TAX BAR ASSOCIATION, AHMEDABAD Aayakar Bhavan, […]

FSSAI Registration and FSSAI License

September 18, 2018 4305 Views 1 comment Print

Introduction: All Food Business Operators (FBO) in the country will be registered or licensed in accordance with the procedures laid down in Food Safety and Standards Act, 2006 (FSS Act), rules and regulations made thereunder. The FSS Act establishes an independent statutory Authority – the Food Safety and Standards Authority of India (FSSAI) with head […]

Legality of MCA’s Notification on Annual KYC of Directors

September 18, 2018 10383 Views 7 comments Print

Now that the time for filing DIR-3 KYC has just go over on September 15th for those directors who were already on record as on March 31st 2018, its time to critically review the requirement for annual KYC This article examines the rationale for the exercise and suggests better ways to achieve the desired objective

TDS under Goods & Services Tax (GST)

September 18, 2018 15087 Views 6 comments Print

TDS under GST (Section 51 of CGST Act)- Applicable from 1st October 2018 Who Is Liable To Deduct TDS – Section 51(1) 1. Central or State Govt Departments or Establishments 2. Local authority 3. Governmental agencies 4. Entities where 51% Equity or control owned by Govt. 5. Registered Societies of Central or State Govt and […]

Government’s attempt to restrict your credit policy to 180 days under GST

September 18, 2018 19413 Views 0 comment Print

In case the customer fails to make the payment to the vendor within 180 days, he is liable to reverse the ITC on the respective inward supplies and this amount of reversal should be added to the output tax liability for the month in which such reversal becomes due.

An analysis on issue of ‘tenancy rights’ taxable under GST

September 18, 2018 16749 Views 10 comments Print

Whether transfer of tenancy rights to an incoming tenant, consideration for which is in form of tenancy premium, shall attract GST when stamp duty and registration charges are levied on the said premium?

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