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Archive: 22 December 2018

Posts in 22 December 2018

Live Course on Appeal, Pleading & Drafting under GST by CA Sachin Jain

May 15, 2024 6435 Views 0 comment Print

oin us for an immersive live course led by renowned expert CA Sachin Jain, as we delve into the intricacies of appeal, pleading, and drafting under GST.

Consumer Protection Bill 2018 passed in Lok Sabha

December 22, 2018 633 Views 0 comment Print

Consumer Protection Bill 2018 passed in Lok Sabha on 20th December 2018 and will now go to Rajya Sabha for passage.  1. The Consumer Protection Act, 1986 was enacted to provide for better protection of the interests of consumers and for the purpose of making provision for establishment of consumer protection councils and other authorities […]

GST on Goods- Changes proposed in 31st meeting of GST Council

December 22, 2018 5622 Views 0 comment Print

18% GST is applicable on wood logs including the wood in rough/log used for pulping. Turbo charger is classified under heading 8414 and attracts 18% GST and not 5% GST. Fabric even if embroidered or has stitching of lace and tikki etc., and even if sold in three piece fabric as ladies suit set, will be classifiable as fabric andwould attract 5% GST.

Summary of Recommendations made during 31st GST Council Meeting

December 22, 2018 3933 Views 0 comment Print

Summary of Recommendations made during 31st GST Council Meeting held on 22.12.2018 related to E-Cash Ledger,  Refund,  For Return, Annual GST Return, Unavailed ITC, Late Fees, E-Way bill, Reduction Of GST On Services/Changed New rate wef 01.01.2019 And REDUCTION OF GST Goods New rate wef 01.01.2019. Recommendations made during 31st GST Council Meeting held on […]

GST on services- 21 Changes proposed in 31st meeting of GST Council

December 22, 2018 16542 Views 0 comment Print

Reduction in GST rates/exemptions on services: GST rate on cinema tickets above Rs. 100 shall be reduced from 28% to 18% and on cinema tickets upto Rs. 100 from 18% to 12%. GST rate on third party insurance premium of goods carrying vehicles shall be reduced from 18% to 12%

16 must know Recommendations made during 31st GST Council Meeting

December 22, 2018 39396 Views 3 comments Print

1. There would be a single cash ledger for each tax head. The modalities for implementation would be finalised in consultation with GSTN and the Accounting authorities. 2. A scheme of single authority for disbursement of the refund amount sanctioned by either the Centre or the State tax authorities would be implemented on pilot basis. The modalities for the same shall be finalized shortly.

GST Council refers 4 important issues to various Committees / GoM

December 22, 2018 2727 Views 0 comment Print

Certain important issues referred by GST Council to various Committees / GoM  The GST Council in its 31st meeting held today at New Delhi decided to refer the following issues to Committees / GoM indicated against them: i. Extending the Composition scheme to small service providers. The rate of tax and threshold limit to be proposed […]

In Principle Approval to Centralised GST AAAR & Interest on net tax liability

December 22, 2018 4041 Views 0 comment Print

Amendment of section 50 of the CGST Act to provide that interest should be charged only on the net tax liability of the taxpayer, after taking into account the admissible input tax credit, i.e. interest would be leviable only on the amount payable through the electronic cash ledger.

Formation of GoM as Recommended by GST Council in 31st Meeting

December 22, 2018 1815 Views 0 comment Print

Formation of GoM as Recommended by the GST Council in Its 31st Meeting held on 22.12.2018. The GST Council in its 31st meeting held today at New Delhi has approved the proposal to form a 7 Member Group of Ministers to study the revenue trend, including analysing the reasons for structural patterns affecting the revenue collection […]

GST Rate Reduction proposed by GST Council during 31st Meeting

December 22, 2018 9315 Views 2 comments Print

GST Council in the 31st meeting held on 22nd December, 2018 at New Delhi took following decisions relating to changes in GST rates on goods and services. The decisions of the GST Council have been presented in this note for easy understanding.

Provisional list of IPs prepared in accordance with Insolvency Professionals

December 22, 2018 843 Views 0 comment Print

Provisional list of IPs prepared in accordance with Insolvency Professionals to act as Interim Resolution Professionals and Liquidators (Recommendation) (Second) Guidelines, 2018.

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