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Archive: 22 August 2019

Posts in 22 August 2019

Incomplete description & mis-classification in automobile parts & accessories

August 22, 2019 1731 Views 0 comment Print

It has been noticed that importers importing motor vehicle parts are misclassifying the automobile parts under wrong CTH and item description is not proper. It has been found from the description/technical name mentioned in the bill of entry that the actual item and its nature is not forthcoming.

Service Providers under GST Composition Scheme – An Overview

August 22, 2019 51123 Views 7 comments Print

Service providers – Eligible person for composition scheme Following registered persons having aggregate turnover up to INR 1.5 crores w.e.f 1-4-2019 by virtue of Notification No. 14/2019 dated 7-3-2019 –Central Tax (INR 75 lakhs for Special Category States) in preceding financial year are covered in the composition scheme:

Guidelines on operational issues pertaining to Regulatory Sandbox

August 22, 2019 720 Views 0 comment Print

INSURANCE REGULATORY AND DEVELOPMENT AUTHORITY OF INDIA IRDAI/INT/GDL/RSB/139/08/2019 22nd August, 2019 Guidelines on operational issues pertaining to the Regulatory Sandbox As per Regulation 13(3) of the IRDAI (Regulatory Sandbox) Regulations, 2019, the Authority hereby issues the following guidelines on operational issues pertaining to the Regulatory Sandbox. The following procedure will be followed for the implementation of […]

CBIC extends validity of 2% Basic Excise Duty on ATF drawn from RCS-UDAN airport or heliport or waterdrome

August 22, 2019 1254 Views 0 comment Print

CBIC extend the validity of 2% Basic Excise Duty on ATF drawn from RCS-UDAN airport or heliport or waterdrome vide Notification No. 07/2019-Central Excise dated 22nd August, 2019. GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) Notification No. 07/2019-Central Excise New Delhi, the 22nd August, 2019 G.S.R. 591(E). – In exercise of the powers conferred […]

CBT Approves Proposal to Recommend Amendment in EPS 1995

August 22, 2019 738 Views 0 comment Print

In a major decision, the Central Board of Trustees (CBT) EPF in a meeting held at Hyderabad on 21 August 2019, approved the proposal to recommend for amendment in Employees’ Pension Scheme(EPS) 1995 for restoration of commuted value of pension to the Pensioners after 15 years of drawing commutation which will benefit approx. 6.3 lakhs pensioners. This was a long pending demand of the pensioners.

Treatment of ITC when by-product Cotton Seed Oil Cake is taxable at 0%

August 22, 2019 20022 Views 0 comment Print

In re M/s Parmod Kumar Singala (GST AAR Rajasthan) 1. What will be the treatment of claiming of Input Tax Credit under Section 16 of the GST Act in regard to by-product Cotton Seed Oil Cake which is taxable at 0%? As per Section 17(2) of GST Act, 2017 the amount of credit shall be […]

ITC not admissible for expenses on maintaining employees

August 22, 2019 1107 Views 0 comment Print

As per clear reading of Sub Section (1) of Section 16 and sub section (1) of Section 17 of the CGST Act, 2017, it is clear that a registered person is entitled to take credit of input tax charged on supply of goods or services or both to him which are used or intended to be used in the course or furtherance of his business only.

Section 245H(1A) Settlement Commissioner can grant further time for payment

August 22, 2019 741 Views 0 comment Print

We find from the provision that the Settlement Commissioner is free to grant further time for payment, under Section 245H(1A) of the Income Tax Act, 1961 5. Having heard the learned senior counsel for the appellant and learned Additional Solicitor General appearing for the respondents, we are of the view that in the facts and circumstances of this case, it is not necessary to relegate the appellant to the Settlement Commissioner for enlargement of time, since the payments have already been made.

GST on royalty/dead rent paid/payable to Government for transfer of right to use minerals

August 22, 2019 3648 Views 0 comment Print

In re Dhirajlal Velji Atha (HUF) (GST AAR Jharkhand) 1. What is the classification of service provided by the State of Jharkhand to the petitioner for which Royalty is being paid in light of the notifications mentioned below? Ans. – The services for the right to use minerals including its exploration and evaluation, as per Sr. […]

Health Care Services under GST

August 22, 2019 93678 Views 9 comments Print

‘Health care services’ means the providing medicine, medical or surgical treatment, nursing, hospital , dental service, complementary health services , ambulance services for patient transportation or for any other services relating to sickness or personal injury and providing services for the purposes of preventing, alleviating, curing or healing human illness, physical disability or injury. As […]

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