Key highlights of the Amendments in GST Laws effective from 1st February 2019 vide CGST (Amendment) Act, 2018 and IGST (Amendment) Act, 2018 The amendments in GST law as recommended by the GST Council were passed by the Parliament by enacting the CGST (Amendment) Act, 2018 and IGST (Amendment) Act, 2018 on 30 August 2018. […]
Note on applicability of GST on maintenance charges under the provisions of GST law Central Board of Indirect Taxes and Customs (CBIC) has clarified on applicability of GST on Maintenance Charges levied by Resident Welfare Associations vide Notification No. 12/2017 – Central Tax (Rate) dated 28.06.2017 and Notf No 2/2018 – Central Tax (Rate) dated […]
The GSTN Portal has opened the facility to file GST Annual Return for the FY 2017-18 for Regular Tax Payers in form GSTR 9 from today i.e. 6th of March 2019. While the facility to file Annual Return (GSTR 9) is made available online, offline facility is also proposed to be made available along with […]
The Central Board of Indirect Taxes and Customs (CBIC) has issued notifications on 7th March 2019 under GST Laws to implement the recommendation of the GST Council and has also issued a circular clarifying issues involving various natures of discounts. The summary of notification have been given in a tabular manner for easy understanding: 1. […]
M/s. Kandla Port Trust Vs CCE&ST (CESTAT Ahmedabad) Letting Out of Port Premises Cannot Be Classified As ‘Port Service’ and Cenvat Credit on Telephone At Residential Premises Of Officers Allowed Since Port Operates 24*7. SERVICE TAX ON TOLL COLLECTION AND ENTRY FEE – Assessee relied on Circular no. 354/27/2012-TRU dated 22.02.2012 wherein it was clarified […]
Where assessee-society was engaged in activity of finance business and was also engaged in activity of granting loans to general public as well, it could not be termed as co-operative society meant only for its members and providing credit facilities to its members, hence assessee was not entitled to deduction under section 80P.
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Shamim Imtiaz Hingora Vs ITO (ITAT Pune) It is an undisputed fact that the shares involved are Penny Stocks and the Assessing Officer did not find any mistake in the documentation furnished by the assessee. The Assessing Officer alleges that the documentation is self-serving. After considering both sides ITAT held that there is need for […]
1. Applicability of MSME Act: As per Section 7 of THE MICRO, SMALL AND MEDIUM ENTERPRISES DEVELOPMENT ACT, 2006, following is the classification of Enterprise on the basis of Investment in Plant & Machinery / Equipment. INVESTMENT IN PLANT & MACHINERY/ EQUIPMENT Manufacturers Service Provider MICRO Doesn’t Exceeds Rs 25 Lakhs Doesn’t Exceeds Rs 10 […]
1. Recently Supreme Court in the case of Regional Provident Fund Commissioner vs Vivekananda Vidyamandir and Others (CIVIL APPEAL NO(s). 6221 OF 2011) had an occasion to determine whether the special allowances paid by an establishment to its employees shall fall within the expression ‘basic wages’ and hence includible in the computation of the contribution to […]
