"05 April 2019" Archive

CBIC clarifies on 3% GST Rate option under notification No. 2/2019 ­CT(R)

Circular No. 97/16/2019-GST 05/04/2019

Attention is invited to notification No. 02/2019-Central Tax (Rate) dated 07.03.2019 which prescribes rate of central tax of 3% on first supplies of goods or services or both upto an aggregate turnover of fifty lakh rupees made on or after the 1st day of April in any financial year,...

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Advisory to GST Taxpayers on Invoice Series to be used wef 1st April, 2019

01/01/1970

Attention of all taxpayers is invited to Rule 46 (b) of the CGST Rules 2017, which specifies that the tax invoice issued by a registered person should have a consecutive serial number, not exceeding sixteen characters, in one or multiple series, containing alphabets or numerals or special characters – hyphen or dash and slash symbol...

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Know the return you made on your real estate investment

01/01/1970

Here's how you can analyse your potential investment properties and determine the return you made on real estate investment. it's important to calculate the ROI (return on investment) to determine the profitability from such property. ...

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Exemption U/s. 11 can be denied for Advances given to unregistered trusts in violation of Section 13

ACIT Vs Hooghly Engineering & Technology College Society (ITAT Kolkata)01/01/1970

Where assessee registered under section 12AA had given advances to unregistered trusts, then it could be held guilty for violation of provisions of section 13 and consequently be denied exemption under section 11, if it was established that the president of the recipient trusts was having substantial interest in such trusts....

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No profiteering as tax rate in GST era increased to 28% from earlier 14.75%

Kerala Screening Committee on Anti-Profiteering Vs M/s Saint Gobain India Pvt. Ltd. (National Anti-Profiteering Authority)01/01/1970

Kerala Screening Committee on Anti-Profiteering Vs M/s Saint Gobain India Pvt. Ltd. (National Anti-Profiteering Authority) It is apparent from the perusal of the facts of the case and the invoices placed on record that there was no reduction in the rate of tax on the above product w.e.f. 01-07-2017 instead the rate of tax in […]...

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Scale of Fee for application for reimbursement of benefits under TMA

Public Notice No. 02/2015-2020-DGFT 05/04/2019

Scale of Fee for application for reimbursement of benefits under Transport and Marketing Assistance (TMA) notified. PUBLIC NOTICE NO. 02/(2015-2020)...

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Exposure Draft of Revised Guidance Note on Division II- Ind As Schedule III to Companies Act, 2013

01/01/1970

Following is the Revised Guidance Note on Division II - Ind AS Schedule III to the Companies Act, 2013 issued by the Corporate Laws & Corporate Governance Committee of the Institute of Chartered Accountants of India, for comments....

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Builder/Promoter and agent : Functions and Duties under RERA

01/01/1970

 Functions of Real Estate Agent (Sec. 10) The Real Estate (Regulation and Development Act, 2016) Every real estate agent registered u/s 9 shall:- a) Not facilitate the sale or purchase of any plot, apartment or building, in a real estate project or part of it, being sold by the promoter in any planning area, which […]...

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Exposure Draft Revised Guidance Note on Division I – Non Ind AS Schedule III to Companies Act, 2013

01/01/1970

Following is the Exposure Draft of the Guidance Note on Division I – Non Ind AS Schedule III to the Companies Act, 2013 issued by the Corporate Laws & Corporate Governance Committee of the Institute of Chartered Accountants of India, for comments....

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Draft Rupee Interest Rate Derivatives (Reserve Bank) Directions, 2019

01/01/1970

Date : Apr 03, 2019 RBI releases Draft Rupee Interest Rate Derivatives (Reserve Bank) Directions, 2019 under section 45 W of the RBI Act, 1934 The Reserve Bank of India today released Draft Rupee Interest Rate Derivatives (Reserve Bank) Directions 2019. Comments on the draft directions are invited from banks, market participants and oth...

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