"02 February 2019" Archive

GST AAR refereed to Appellate Authority due to different views of members

In re M/s Sam Overseas (GST AAR Uttarakhand)

In re M/s Sam Overseas (GST AAR Uttarakhand) Classification and applicability of GST rate on the ‘Rejected Wheat Seed’ and ‘Rejected Paddy Seed’.  Due to different views of members matter been referred to Appellate Authority hearing and decision on said issue in terms of Section 98(5) of the Act ibid which provide...

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GST on commodity of Eucalyptus/Polar Wood Waste in Logs

In re M/s Sharda Timber (GST AAR Uttarakhand)

In re M/s Sharda Timber (GST AAR Uttarakhand) Whether the commodity of Eucalyptus/Poplar wood waste in logs having length of 30 cm to 200 cm in girth of approx 10 cm to 60 cm is covered under Hsn 4401 and chargeable under Uttarakhand State GST @ 2.5% and Under CGST @ 2.5%? The answer is […]...

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Air Dryer complete with final filter used in breaking system of locomotive attracts 18% GST

In re M/s Blackstone Diesels (AAR Rajasthan)

In re M/s Blackstone Diesels (AAR Rajasthan) The ‘Air Dryer complete with final filter for used in breaking system of locomotive’ has been rightly classified by the supplier under Chapter 8421 of GST Tariff Act 2017 which attracts GST @18% (CGST 9% + SGST 9% ). FULL TEXT OF ORDER OF AUTHORITY OF ADVANCE RULING, RAJASTHAN [&he...

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ICAI CA IPCC / Intermediate November 2018 Result- Updates

ICAI (Institute of Chartered Accountant of India) organizes the exam of CA Intermediate and CA IPCC twice in a year in the month of May and Nov. ICAI recently conducted the exam of CA IPCC and CA Intermediate in the month of November 2018, the result of which is awaited. In the recent announcement by ICAI, it announced that CA IPCC result...

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Income tax slabs for Individuals for FY 2019-20 (AY 2020-21)

The Interim Finance Minister Shri Piyush Goyal Presented the interim budget on February 01, 2019 in Lok Sabha on which he told about the various amendments in Income Tax Act 1961 through Finance Bill 2019. The Main relief to individual taxpayers is Rebate u/s 87A of Income Tax Act which increased the limit of rebate […]...

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Form MSME- I

Form MSME- I for Furnishing of information about payment to micro and small enterprise suppliers as notified by ‘Specified Companies (Furnishing of information about payment to micro and small enterprise suppliers) Order, 2019′. APPLICABILITY TO: Every specified company shall file Return with ROC in e-form MSME- I for details of all ...

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Demystifying Interim Budget 2019 Insights of Income Tax Amendments

Finally, Interim Budget 2019 by our interim Finance Minister Mr. Piyush Goyal is on our desk for review. This budget holds high expectations from the end of Middle-Class People who had been ignored since so long, from the farmers who were overburdened in debt, from MSME Sector who was much in finance distress, from the unemployed youth wh...

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Indian market in 2019

Everyone in stock market desires to have a vision about the future movement of stock market. So, they can be benefited from it. And with the arrival of 2019, these desires have increased exponentially. The year 2018 has passed, but the volatility of the market has been continuously increasing. It is now crystal clear that […]...

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GST Revenue for January 2019 crosses Rs. 1 Lakh Crore Mark

GST Revenue Collections for the month of January 2019 crosses Rupees One Lakh Crore Mark The total gross GST revenue collected in the month of January, 2019 is Rs 1,02,503 crore of which CGST is Rs 17,763crore, SGST is Rs 24,826 crore, IGST is Rs 51,225 crore (including Rs 24,065 crore collected on imports) and Cess is Rs ...

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Analysis of CGST (Amendment) Act, 2018 applicable from 01.02.2019

CBIC Notifies applicability of CGST (Amendment) Act, 2018 with effect from 1.02.2019 vide Notification No. 02/2019 Central Tax Dated 29.01.2019. The amendment has following effects:...

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March 2021