"06 November 2018" Archive

GST on mobilization advance received against works contract services

Works contractors are still liable to pay GST on mobilization advance /any other advance received towards supply of a works contract services attracting GST....

Read More

Interest in GST: Whether on Gross Output Tax or Net Tax Liability

The interest is being charged by the Department on gross tax liability which is the output tax and tax payable on reverse charge mechanism without deducting any input tax credit i.e. net tax liability. Many taxpayers are getting notices from the GST Department regarding late filing of return. The GST Department is adding interest liabilit...

Read More

Non-filing of Part-B of E-way bill: HC orders release of goods on furnishing of security

New Shiva Transport Service Vs State of U.P. (Allahabad High Court)

As the complete details to be filled up in Part-B of the E-way Bill were supplied on 25.05.2018, the goods were not liable for seizure on 26.05.2018....

Read More

Concept of Pure Agent under GST

As per Sec 2(5) of the CGST Act, 2017, agent means a person, including a factor, broker, commission agent, arhatia, del credere agent, an auctioneer or any other mercantile agent, by whatever name called, who carries on the business of supply or receipt of goods or services or both on behalf of another....

Read More

GST Credit Notes A Double Edged Sword In GST Annual Returns

Issue of Credit notes is an age old practice in business environment. They are issued by supplier to buyer for the sales return transactions. In GST there will be a tax component in each & every taxable supply transaction. When there is a supply of goods or services, supplier is liable to pay GST on such transactions....

Read More

MCA proposes 20 further Amendments in Companies Act, 2013

Pursuant to recommendations made by Committee to review the offences under the Companies Act, 2013, the Companies (Amendment) Ordinance, 2018 has been promulgated on 2nd November, 2018....

Read More

Appointment of Auditor for Conducting Annual GST Audit of SIDBI

Request for Proposal For Appointment of Auditor for Conducting Annual GST audit of the Small Industries Development Bank of India [SIDBI]....

Read More

SEBI revises Procedure for Transfer of Securities in Physical Mode

Circular No. SEBI/HO/MIRSD/DOS3/CIR/P/2018/139 (06/11/2018)

It has been brought to the notice of SEBI that RTAs are seeking various documents for effecting transfer of securities and the documents sought vary across RTAs. SEBI has also received representations, highlighting difficulties faced by transferees in providing these documents....

Read More

Analysis of GST Notification & Circulars from 23.10.2018 to 04.11.2018

CBIC has issued various Circulars and Notifications in last few days. The approach of ‘listening, adjusting and changing’ is the order of the day. Article covers Analysis of GST Notification and Circulars issued between 23.10.2018 to 04.11.2018...

Read More

Key Features Export Promotion Schemes – Under DGFT

Export promotion schemes under Foreign Trade Policy provides promotional measures to boost India’s exports with the objective to offset infrastructural inefficiencies and associated costs involved to provide exporters a level playing field. The Ministry of Commerce & Industry, Government of India is the overall in-charge of Foreign ...

Read More

Search Posts by Date

October 2020