"December, 2018" Archive

CBIC exempt temporary importation of private road vehicles from IGST & compensation cess

Notification No. 86/2018-Customs (31/12/2018)

Seeks to amend notification no. 296/76 dated 02.08.1976 to exempt temporary importation of private road vehicles from IGST and compensation cess vide  Notification No. 86/2018 – Customs Dated 31st December, 2018. GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) Notification No. 86/2018-Customs New Delhi, the 31st Decembe...

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Reg. GST on Transport of goods in containers by rail by any person other than Indian Railways

Notification No. 30/2018-Central Tax (Rate) [G.S.R. 1277(E)] (31/12/2018)

Seeks to insert explanation in an item in notification No. 11/2017– Central Tax (Rate) by exercising powers conferred under section 11(3) of CGST Act, 2017. Government of India Ministry of Finance (Department of Revenue) Notification No. 30/2018-Central Tax (Rate) New Delhi, the 31st December, 2018 G.S.R. 1277(E).- In exercise of the po...

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New services under Reverse Charge Mechanism wef 1st January 2019

Notification No. 29/2018- Central Tax (Rate) [G.S.R. 1276(E)] (31/12/2018)

Seeks to amend notification No. 13/2017- Central Tax (Rate) so as to specify services to be taxed under Reverse Charge Mechanism (RCM) as recommended by Goods and Services Tax Council in its 31st meeting held on 22.12.2018. Following services brought under RCM mechanism: Services provided by business facilitator (BF) to a banking company ...

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CBIC exempt certain services from CGST w.e.f. 1st January 2019

Notification No. 28/2018- Central Tax (Rate) [G.S.R. 1272(E)] (31/12/2018)

Seeks to amend notification No. 12/2017- Central Tax (Rate) so as to exempt certain services as recommended by Goods and Services Tax Council in its 31st meeting held on 22.12.2018. Government of India Ministry of Finance (Department of Revenue) Notification No. 28/2018- Central Tax (Rate) New Delhi, the 31st December, 2018 G.S.R. 1272(E)...

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Changes in CGST rates of various services from 1st January 2019

Notification No. 27/2018-Central Tax (Rate) [G.S.R. 1271(E)] (31/12/2018)

Seeks to amend notification No. 11/2017- Central Tax (Rate) so as to notify CGST rates of various services as recommended by Goods and Services Tax Council in its 31st meeting held on 22.12.2018. Government of India Ministry of Finance (Department of Revenue) Notification No. 27/2018-Central Tax (Rate) New Delhi, the 31st December, 2018 G...

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CBIC exempts CGST on supply of gold by nominated agencies to registered persons

Notification No. 26/2018-Central Tax (Rate) G.S.R.1263(E) (31/12/2018)

CBIC exempts central tax (CGST) on supply of gold by nominated agencies to registered persons vide Notification No. 26/2018- Central Tax (Rate) Dated 31st December, 2018....

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CBIC exempt GST on certain goods WEF 1st January, 2019

Notification No. 25/2018-Central Tax (Rate) G.S.R.1262(E). (31/12/2018)

Seeks to further amend notification No. 2/2017-Central Tax (Rate) dated 28.06.2017 to exempt GST on goods as per recommendations of the GST Council in its 31st meeting vide Notification No. 25/2018-Central Tax (Rate) dated 31st December, 2018. GOVERNMENT OF INDIA MINISTRY OF FINANCE (Department of Revenue) Notification No. 25/2018-Central...

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CBIC notifies Change in GST rates on goods wef 01.01.2019

Notification No. 24/2018-Central Tax (Rate) G.S.R.1261(E). (31/12/2018)

GST on solar power generating plant and other renewable energy plants GST rate of 5% rate has been prescribed on renewable energy devices & parts for their manufacture (bio gas plant/solar power based devices, solar power generating system (SGPS) etc) [falling under chapter 84, 85 or 94 of the Tariff]. Other goods or services used in...

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No addition U/s. 56 on receipt of shares as a result of fresh issuance of shares

Circular No. 10/2018 (31/12/2018)

It is hereby clarified that section 56(2)(viia) of the Act shall apply in cases where a specified company or firm receives the shares of the specified company through transfer for no or inadequate consideration. Hence, the provisions of section 56(2)(viia) of the Act shall not be applicable in cases of receipt of shares by the specified c...

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GST rate for Sprinkler and Drip irrigation System including laterals

Circular No. 81/55/2018-GST (31/12/2018)

sprinklers in the entry 195B, covers sprinkler irrigation system. Accordingly, sprinkler system consisting of nozzles, lateral and other components would attract 12% GST rate....

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