"09 October 2018" Archive - Page 3

GST Small business exemption eligible to co-owners separately in case of jointly owned property

In re Elambrancheri Khaldoon (GST AAR Kerala)

In re Elambrancheri Khaldoon (GST AAR Kerala) i) Small business exemption provided u/s 22 of GST Act is eligible to co-owners separately in the case of jointly owned property, where the rent is collected together but divided equally and transferred to the respective co-owners. ii) Engaging a co-owner to collect and distributing rent among...

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AAR related to GST on eating joint / mess / canteen withdrawn

In re Compass Group (India) Support Services Private Limited (GST AAR Karnataka)

In re Compass Group (India) Support Services Private Limited (GST AAR Karnataka) The Applicant vide their letter dated 10.08.2018 requested to permit them to withdraw the advance ruling application, filed by them on 20.04.2018, stating the reason that all the transactions of the applicant, that were subject matter of the questions raised ...

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GST on medicines & surgical items supplied through pharmacy by a hospital

In re Ms Ernakulam Medical Centre Pvt. Ltd. (GST AAR Kerala)

In re M/s. Ernakulam Medical Centre Pvt. Ltd. (GST AAR Kerala) i) Supply of medicines and allied items provided by a hospital through pharmacy to in-patients is part of composite supply of health care treatment and hence not separately taxable. ii) Supply of medicines and allied items provided by hospital through pharmacy to out-patients ...

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Who is Responsible for TDS on sale of shares by NRI’s

This is an common question now a days where equity in an Indian Company is held by an NRI and the simple answer to the aforesaid question is that responsibility to deduct tax at source on payment to NRI of such payment is on the Authorised Dealer (read bank through which payments are made )....

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Sovereign Gold Bond Scheme: FAQs

(Updated as on October 08, 2018) In this article we have compiled  37 frequently asked question on the Sovereign Gold Bond scheme, 2018. Sovereign Gold Bond are government securities denominated in grams of gold. They are substitutes for holding physical gold. Investors have to pay the issue price in cash and the bonds will be […]...

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IGST refund to exporters receiving capital goods under EPCG scheme

Notification No. 54/2018-Central Tax [G.S.R. 1011(E)] (09/10/2018)

Seeks to make amendments (Twelfth Amendment, 2018) to the CGST Rules, 2017. This notification amends rule 96(10) to allow exporters who have received capital goods under the EPCG scheme to claim refund of the IGST paid on exports and align rule 89(4B) to make it consistent with rule 96(10). CBIC amends Rule 96(10) prospectively to [&helli...

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Central Goods and Services Tax (Eleventh Amendment) Rules, 2018

Notification No. No. 53/2018–Central Tax [G.S.R. 1007(E)] (09/10/2018)

1. (1) These rules may be called the Central Goods and Services Tax (Eleventh Amendment) Rules, 2018. (2) They shall be deemed to have come into force with effect from the 23rdOctober, 2017....

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Prohibition of Benami Property Transactions (Removal of Difficulties) Order, 2018

Order No. S.O.5194 (09/10/2018)

Whereas, sub-section (1) of section 48 of the Prohibition of Benami Property Transactions Act,1988 provides that a person preferring an appeal to the Appellate Tribunal under said Act may either appear in person ...

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Registration for Practical Training Assessment Tests for CA Students

Registration for Practical Training Assessment Tests The Council has decided to assess students after completion of first and second year of practical training with online MCQ based tests. The students completing their 1st/ 2nd year of practical training in a particular quarter of a year would be eligible to register for the said test in ...

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CA held guilty of Misconduct for failure to exercise due diligence

Mahavir Jain Vs Disciplinary Committee (Appellate Authority)

Mahavir Jain Vs Disciplinary Committee (Appellate Authority) 1. This Appeal has been filed by the Appellant before this Authority against the Order dated 7th November, 2017 passed by the Disciplinary Committee (Bench-I) of the Institute of Chartered Accountants of India under Section 21B (3) of the Chartered Accountants Act, 1949 read wi...

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