"18 October 2018" Archive

An Understanding of TDS on Purchase of Property

Introduction of TDS on Purchase of Property TDS or tax deducted at source refers to the process of collecting income tax at source by the government of India. It is a kind of spot deduction of tax from the original source of income. TDS is deducted as per the Indian Income Tax Act, 1961. TDS […]...

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Posted Under: Income Tax |

Last Date of Making Changes under GST: Whether a serious affair?

Concerns regarding last date by which everything wrongly done under GST can be undone and every thing which is not done can be done, are looming large midst the professionals facing heat at the crest of their tax audit assignments. This is a comparative view of different provisions of the GST law dealing with the subject so that a conside...

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Valuation of Taxable Supply under GST

In the current article we will discuss about valuation of taxable supply as according to valuation of taxable supply billing or tax invoice can be made by the supplier it will help him to know what are the things which should be included or excluded....

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Posted Under: Income Tax |

14 suggestions on Form GSTR- 9 by ICAI

The Institute of Chartered Accountants of India Suggestions on GST Annual Return form- September, 2018 Suggestions on Form GSTR- 9 1. General Issue : Issue A : The information in GSTR-9 , Table 4, 10 & 11 instruction indicate data “May be” taken from GSTR-1, however, table headings uses the word as declared in the [&hellip...

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Last date to avail Input Tax Credit pertaining to July 2017 to March 2018

NA 18/10/2018

CBIC press release dated 18th October 2018 on Last date to avail Input Tax Credit in respect of invoices or Debit Notes relating to such invoices pertaining to period from July, 2017 to March, 2018....

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#METOO Sexual Harassment of Women at Workplace “Think about your actions, they do have consequences”

As per the survey* conducted by the Indian National Bar Association in 2017, over 38% women claimed to have faced sexual harassment at workplace while 50.7% said that they had been targets of harassment online. A total of 1971 cases of Sexual harassment at workplace were registered in four years i.e. since the enactment of […]...

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Posted Under: Income Tax |

Submission of Form-11 & seeding KYC in UAN Portal- Reg

Notification No: LC-4(115)2018/Aadhar/LO/13478 18/10/2018

In view of the Hon’ble Supreme Court order on the Aadhar Act, 2016, dated 26.09.2018, it is advised to avoid any coercive action by way of prosecution till further orders....

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Procedure in cases of manufacturing or other operations undertaken in bonded warehouses

Circular No. 38/2018-Customs 18/10/2018

Procedure to be followed in cases of manufacturing or other operations undertaken in bonded warehouses under section 65 of the Customs Act vide Circular No. 38/2018-Customs Dated the 18th October 2018...

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Composite supply of materials & erection work is supply of service

In re Madhya Pradesh Madhya Kshetra Vidyut Vitaran Company Limited (GST AAR Madhya Pradesh)

The composite supply of works contract as defined at Section 2 of CGST Act '2017 and MPGST Act, 2017 is treated as supply of service in terms of serial no.6, Schedule II of CGST Act '2017 and MPGST Act, 2017....

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No GST on Delayed electricity Payment charges: AAAR

In re M/s TP Ajmer Distribution Limited (GST AAAR Rajasthan)

In re M/s TP Ajmer Distribution Limited (GST AAAR Rajasthan) AAAR held that no GST is chargeable on the delayed payment charges collected from the consumers for delay in payment of consideration for supply of electricity. While GST is chargeable on the cheque dishonor charges collected ( by whatever name) from the consumers. Also Read [&h...

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