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Archive: 20 September 2018

Posts in 20 September 2018

TCS Rate on intra-State taxable supplies by e-commerce operator

September 20, 2018 3252 Views 0 comment Print

CBIC notifies the rate of tax collection at source (TCS) to be collected by every electronic commerce operator for intra-State taxable supplies vide Notification No. 52/2018 — Central Tax dated: 20th September, 2018. CBIC Notifies that every electronic commerce operator, not being an agent, shall collect an amount calculated at a rate of half percent […]

Industrial Canteen Contractors -Service Tax Ruling & its Applicability

September 20, 2018 5277 Views 1 comment Print

1. Whether the industrial canteen contractors were entitled to claim the exemption from service tax under the earlier regime has been a vexed issue. 2. Entry No.19A of the mega exemption Notification No. 25/2012-ST as inserted by Notification No. 14/2013-ST, dated 22-10-2013reads as under:

Authorized Economic Operator (AEO) A Privileged Certification for Exporters & Importers

September 20, 2018 7746 Views 1 comment Print

AEO is a Trade Facilitation Scheme for ease of doing business in light of international development. Holder of this Certificate is Entitled for Privilege, Benefits, Exemption and Relaxation on account of import and export.This certificate is issued for Particular Period after that to be renewed.

Implications of TCS on E-Commerce Industry

September 20, 2018 4272 Views 0 comment Print

E-Commerce industry had unique place in GST regime. TCS (Tax collected at source) provisions were incorporated into the GST act, however the provisions were not actively notified.

CBIC amends Table 43 of notification No. 9/2017 – Integrated Tax (Rate)

September 20, 2018 1281 Views 0 comment Print

Seeks to insert explanation in an entry in notification No. 9/2017 – Integrated Tax (Rate) by exercising powers conferred under section 6(3) of IGST Act, 2017. Government of India Ministry of Finance (Department of Revenue) Notification No. 24/2018-Integrated Tax (Rate) New Delhi, the 20th September, 2018 G.S.R. 907(E).- In exercise of the powers conferred by […]

CBIC amends Table 41 of notification No. 12/2017– Central Tax (Rate)

September 20, 2018 8154 Views 0 comment Print

Seeks to insert explanation in an entry in notification No. 12/2017 – Central Tax (Rate) by exercising powers conferred under section 11(3) of CGST Act, 2017. Following explanation added in entry 41 of notfn no.12/2017‑CT(Rate) dated 28.06.2017- a. For the purpose of this exemption, the Central Government, State Government or Union territory shall have 50 […]

Clubbing of Advance authorisations when not possible: HC explains

September 20, 2018 1422 Views 0 comment Print

Jindal Poly Film Ltd Vs Designated Authority & Anr. (Delhi High Court) In a case involving clubbing of Advance Authorisations issued in 2004 and 2010, Delhi High Court has held that clubbing can be provided only if export obligation period of authorization issued at a prior point of time allowed under Paragraph 4.22 of the […]

CBIC amends Table 41 of notification No. 12/2017– Union Territory Tax (Rate)

September 20, 2018 717 Views 0 comment Print

 Seeks to insert explanation in an entry in notification No. 12/2017 – Union Territory Tax (Rate) by exercising powers conferred under section 8(3) of UTGST Act, 2017 Government of India Ministry of Finance (Department of Revenue) Notification No. 23/2018-Union Territory Tax (Rate) New Delhi, the 20th September, 2018 G.S.R….. (E).- In exercise of the powers […]

IGST: TCS Rate on intra-State taxable supplies by e-commerce operator

September 20, 2018 3369 Views 0 comment Print

Seeks to notify the rate of tax collection at source (TCS) to be collected by every electronic commerce operator for inter-State taxable supplies Government of India Ministry of Finance (Department of Revenue) Central Board of Indirect Taxes and Customs Notification No. 02/2018 — Integrated Tax New Delhi, the 20th September, 2018 G.S.R. …..(E).— In exercise […]

Understanding Part II of GSTR 9C – Reconciliation of Turnover

September 20, 2018 71451 Views 0 comment Print

Section 35 (5) of the Central Goods and Service Tax Act, 2017 provides that every registered person whose aggregate turnover exceeds INR 2 Crore is required to submit a reconciliation statement along with the audited reports. The Central Board of Indirect Taxes and Customs, vide notification no. 49/2018 – Central Tax dated 13th September, 2018, has […]

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