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Archive: 27 January 2019

Posts in 27 January 2019

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

May 15, 2024 7059 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.

Gujarat HC revokes CBIC Circular & extends GST exemption to DISCOM’s ancillary services

January 27, 2019 3777 Views 0 comment Print

The recent ruling of Gujarat High Court (HC) Torrent Power Ltd. v. Union of India, strikes down paragraph 4(1) of Circular No. 34/8/2018-GST dated 1 March 2018 as being ultra vires to the provisions of CGST Act and exemption notification No. 12/2017-Central tax (Rate), dated 28 June 2017. On 1 March 2018, CBIC issued Circular […]

Appeals and Revisions – Provision in Income Tax (Simply summarised)

January 27, 2019 25794 Views 3 comments Print

Order passed by assessing officer (AO) First appeal – To commissioner (Appeals) – u/s 246A ♣ By Assessee ♣ Form no. 35 ♣ Within 30 days – however commissioner (appeal) may condone delay ♣ No appeal in following cases Order levying interest u/s 234A, 234B, and 234C Revision order u/s 264 Order of authority for […]

Analysis of CGST (Fourteenth Amendment) Rules, 2018

January 27, 2019 3354 Views 0 comment Print

Central Goods and Service Tax (Fourteenth Amendment) Rules, 2018 Notification No. 74/2018 – Central Tax- Dated: – 31st December, 2018 The following rules except under point 9 will be effective from 31st December 2018. 1. Insertion of the sub rule 1(A) after sub rule (1) in rule 12: – Sub: – Application for GST registration […]

Impact of GST on medicines

January 27, 2019 5193 Views 0 comment Print

The rollout of GST on medicines was contrary to what the pharmaceutical industry was expecting. Currently, the applicable rates of GST on medicines are basically divided into four brackets: 0%, 5%, 12%, and 18%. The pharma sector had been wishing for nil rate of tax, the GST Council capped GST on life-saving drugs at 5 percent and […]

What is GST Input Tax Credit (ITC)?

January 27, 2019 2580 Views 0 comment Print

When you purchase any raw materials as inputs to manufacture and sell your commodity, you end up paying tax on such input material. The tax you paid on the purchase of such input material is called Input Tax. At the time of supply of the finished goods, you are required to pay corresponding tax in […]

Steps To Download GST Registration Certificate from GST Portal

January 27, 2019 4854 Views 0 comment Print

Present article highlights the online steps the registered person needs to follow to download the GST registration certificate. The article also provides the understanding of the parts of the registration certificate along with the important rules attached to the registration certificate.

Transfer not completes on Mere registration of agreement for sale of property

January 27, 2019 4371 Views 2 comments Print

The Pr. CIT Vs M/s. Talwalkars Fitness Club (Bombay High Court) Mere fact that an agreement for sale of property is registered does not make it a conveyance. The sale or transfer U/s. 2(47) of Income Tax Act, 1961  not completes on the date of the execution of the agreement if there are obligations to […]

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