"22 January 2019" Archive

Companies (Acceptance of Deposits) Amendment Rules, 2019

Notification No. G.S.R. 42(E) (22/01/2019)

It is hereby clarified that Form DPT-3 shall be used for filing return of deposit or particulars of transaction not considered as deposit or both by every company other than Government company....

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Power Bank classifiable under Heading 8507 as Accumulator

In re Xiaomi Technology India Private Limited (GST AAR Karnataka)

Whether the 'Power Bank', traded by the Applicant, is classifiable under Heading 8504 40 90 as ‘Static Converter – Others’? The 'Power Bank', traded by the Applicant, is classifiable under Heading 8507 as Accumulator and not as Static Converter....

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CBDT requests non-filers to Submit IT Return or Online Response

CBDT identifies non-filers through Non-filers Monitoring System (NMS) by using Data Analytics and request the Non-filers to assess their tax liability for AY 2018-19 and file the Income Tax Returns (ITR) or submit online response within 21 days The Non-filers Monitoring System (NMS) aims to identify and monitor persons who enter into high...

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Posted Under: Company Law |

GST on Medicine

In this modern growing world, human beings are suffering from various kinds of disease due to their lifestyle and habits. In today’s world, medicine is the first aid preferred for every disease. The usage of medicine is increase day by day. The current article helps to understand the GST provisions as applicable on medicine like [&helli...

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Posted Under: Company Law |

RCM on Security Services under GST W.E.F. 01.01.2019

Reverse Charge Mechanism (RCM) under GST on Security Services (Applicability from 01.01.2019) –  RCM On Security Service has been introduced in GST by Government vide Notification No. 29/2018 – Central tax dated 31.12.2018. Before Understanding RCM on Security Service let’s first understand difference between Normal Cha...

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Posted Under: Company Law |

GST on conduct of marathon by Trust to raise donation for Charity

In re Ms. Dream Runners Foundation (GST AAR Tamilnadu)

In re Ms. Dream Runners Foundation (GST AAR Tamilnadu) i. Whether the conduct of marathon events by the Trust through which donations are raised for charity is an exempted service under GST? The conduct of Marathon event by the Applicant for the participants is a not an exempt supply under CGST/TNGST Act ii. When the […]...

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Rate of GST for the vadams made of maida and HSN Code

In re Ms. Subramani Sumathi (GST AAR Tamilnadu)

In re Ms. Subramani Sumathi (GST AAR Tamilnadu) What is the rate of tax for the vadams made of maida and what is the HSN Code’ The issue to be decided before us is the rate of tax applicable to the product of the Applicant and the applicable HSN Code. From the various submissions of […]...

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AAR cannot give Ruling on the question of when to raise invoices

In re M/s. HYT Sam India (JV) (GST AAR Tamilnadu)

This Authority cannot give a Ruling on the question of when to raise invoices by the Applicant as per Section 97(2)of CGST Act/TNGST Act. .The value of supply for each invoice raised by the Applicant will be the transaction value and should include the amounts , if any, as specified in Section 15(2) and exclude the discounts, if any, as s...

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Provisions related to GST on Goods Transport Agency

What is GTA? As per Notification No. 11/2017 dated 28th June 2017, GTA (Goods Transport Agency) means any person providing goods transportation service by road and issues consignment note, by whatever name called. It is important to note that only who hire out vehicles for goods transportation and issues a consignment note is considered a...

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Posted Under: Company Law |

Survey Provisions in Income Tax- Section 133A

Section 133A(1): Any place at which a business or profession or an activity for charitable purpose is carried on, whether such place be the principal place or not of such business or profession or charitable activity, notwithstanding any other provision of this Act, an income tax authority may enter – i. any place within the […]...

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Posted Under: Company Law |

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