"18 July 2019" Archive

Changes in TDS provision via Finance Bill 2019

Budget 2019: Changes in TDS provision- Related to 1. Section 194M : TDS on payment exceeding Rs 50 lakhs to Contractor or Professional by Individual/HUF, Section 194N: TDS on Cash Withdrawal exceeding Rs 1 crore from banks or cooperative bank or post office, Section 194DA: TDS on sum received under life insurance policy and Section [&hell...

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Posted Under: Income Tax |

Procedure under GST for goods sent / taken out of India for exhibition

Circular No. 108/27/2019-GST (18/07/2019)

CBIC clarifies GST issues regarding procedure to be followed in respect of goods sent / taken out of India for exhibition or on consignment basis for export promotion vide Circular No. 108/27/2019-GST Dated 18th July, 2019. Also Read- CBIC Clarification in respect of goods taken out of India for exhibition or on consignment basis for [&he...

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GST on Information Technology enabled Services (ITeS services)

Circular No. 107/26/2019-GST (18/07/2019)

CBIC issues clarification on issues related to supply of Information Technology enabled Service (ITeS services) such as call center, business process outsourcing service, etc. and ‘Intermediaries’ to overseas entities under GST law and whether they qualify to be ‘export of services’ or otherwise vide Circular No. 1...

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FORM GST CMP-08 due date extended to 31st July 2019

Notification No. 34/2019 – Central Tax / G.S.R.514(E) (18/07/2019)

CBIC extends the last date / Due date for furnishing GST Composition Scheme payment  FORM GST CMP-08 statement containing the details of payment of self-assessed tax, for the quarter April, 2019 to June, 2019, or part thereof, to 31st day of July, 2019 vide Notification No. 34/2019 – Central Tax dated 18th July, 2019. Quarterly [&helli...

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Central Goods and Services Tax (Fifth Amendment) Rules, 2019

Notification No. 33/2019 – Central Tax [G.S.R. 513(E).] (18/07/2019)

Central Goods and Services Tax (Fifth Amendment) Rules, 2019- Inserted Rule 4A related to Issue of E-Ticket by Multiplexes, Inserted Rule 83B- Surrender of enrolment of goods and services tax practitioner, Inserted New Form GST PCT-06- Application For Cancellation Of Enrolment As Goods And Services Tax Practitioner, Form GST PCT-07- Order...

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Pass Percentage of CA CPT June 2019 Exam

ICAI Press Release The Institute of Chartered Accountants of India (ICAI) today announced the result of Common Proficiency Test (CPT) exam held on June 16, 2019. The result analysis of the CPT Examination in terms of total pass percentage & gender wise details are mentioned below. GENDER No. of candidates appeared No. of candidates pa...

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Posted Under: Income Tax |

Jadhav case: ICJ Rules in favour of India (Read Order & Press Release)

Mr. Kulbhushan Sudhir Jadha case (India v. Pakistan) (International Court of Justice)

Jadhav case (India v. Pakistan)- The Court finds that the Islamic Republic of Pakistan, in the matter of the detention and trial of an Indian national, Mr. Kulbhushan Sudhir Jadhav, has acted in breach of the obligations incumbent on it under Article 36 of the vienna Convention on Consular Relations...

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Posted Under: Income Tax |

Section 194B and Section 194BB – TDS

Section 194B and 194BB – TDS on winnings from lottery or crossword puzzle and TDS on winning from a horse race. Continuing the series of TDS articles, in the present article, both the Section 194B and Section 194BB relating to TDS on winnings from lottery or crossword puzzle and TDS on winning from horse race, […]...

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Posted Under: Income Tax |

Person in whose advice, directions or instructions Board of Directors of a company accustomed to act

It is very much clear that the expression ‘any person in whose advice, direcctions or instructions the Board of Directors of a company accustomed to act’ is of utmost relavance as the expression has been used at various places in the Companies Act, 2013 alongside with Section 2(69) which defines the term ‘Promoter’...

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Posted Under: Income Tax |

GST ITC of other State’s – Can it be claimed ??

1. A businessmen would come across scenarios wherein they would have received supplies from the State’s where they are not registered and the place of supply would also happen to be the said State and not the State where he is registered. As an example, a businessmen registered in Gujarat would book a hotel in […]...

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Posted Under: Income Tax |