"25 August 2019" Archive

Extend due date for filing GSTR-9 and GSTR-9C to December

Extend the due date for filing the GSTR-9 and GSTR-9C from August to December along with the filing of GTR-9C for the F.Y. 2018-19 so that all the compliances are made and the adjustments made in the following years gets reconciled at the same time....

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ITC of Central GST paid in Haryana not available to Appellant registered in Rajasthan

In re M/s IMF Cognitive Technology Private Limited (GST AAAR Rajasthan)

In re M/s IMF Cognitive Technology Private Limited (GST AAAR Rajasthan) Credit of input tax is admissible to a registered person, subject to conditions and restrictions , and input tax inter alia is Central tax charged on inward supply of a registered person. Going further, Central tax is Central GST levied under Section 9 of […]...

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Solar Power Device attract 9.8 % GST: GST AAAR Rajasthan

In re Shri Kailash Chandra (GST AAAR Rajasthan)

In re Shri Kailash Chandra (GST AAAR Rajasthan) We find that the Appellant had produced copies of the Volume-I and Volume-II of the Tender-Document No. 17/2016-17 dated 23.08.2016 issued by the Additional Chief Engineer , Public Health Engineering Department (PHED) , Region-II, Jodhpur inviting tenders for designing, providing, installati...

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18% GST payable on licensing services for right to use minerals including its exploration & evaluation

In re Aravali Polyart (P) Ltd. (GST AAAR Rajasthan)

What is the classification of Service provided in accordance with Notification No 11/2017-Central Tax (Rate) dated 28.06.2017, read with Annexure attached to it, by the State of Rajasthan to M/s Aravali Polyart Private Limited for which royalty is being paid ? Whether said Service can be classified under SAC 9973 specifically under 997337...

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Sabka Vishwas – Legacy Dispute Resolution Scheme notified ; to be operationalized from 1st September 2019

Sabka Vishwas – Legacy Dispute Resolution Scheme notified ; to be operationalized from 1st September 2019 Government expects Scheme to be availed by large number of taxpayers for closing their pending disputes relating to legacy Service Tax and Central Excise cases. In the Union Budget 2019-20, the Hon’ble Finance Minister announc...

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SC on who is liable to pay Costs of interim resolution professional

S3 Electricals and Electronics Private Limited Vs Brian Lau & Anr. (Supreme Court of India)

S3 Electricals and Electronics Private Limited Vs Brian Lau & Anr. (Supreme Court of India) A bare reading of Regulation 33(3) indicates that the applicant is to bear expenses incurred by the RP, which shall then be reimbursed by the Committee of Creditors to the extent such expenses are ratified. We are informed that, in […]...

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GIFT IFSC- Onshoring the Offshore

Globally, the concept of an International Finance Centre or an IFC has been prevalent for quite some time and the experience in various jurisdictions has been quite encouraging. Various IFCs have been set up worldwide, amongst which the centres located in London, New York, Singapore and Dubai are among the prominent ones. These centres ha...

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ICAI to Open Office in Srinagar covering UT of of J&K & Ladakh

The Council of the Institute of Chartered Accountants of India (ICAI) has recently decided to open a Representative Office of the Institute covering the Union Territories of Jammu & Kashmir and Ladakh....

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Interest on Gross amount without Allowing ITC- HC stays Interest Recovery

M/s. Megha Engineering and Infrastructures Ltd. Vs Commissioner of Central Tax (Telangana High Court)

In the case of Megha Engineering and Infrastructures Ltd. High Court has directed that to GST Department that in the event interest is not paid under Section 50 thereof, there shall be a direction to respondent to not to initiate any coercive action against the petitioner until further orders....

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Simplified IND AS 38| Companies (IND AS) Second Amendment Rules 2019

LATEST AND SIMPLE VERSION OF IND AS 38 As Amended by Companies (Indian Accounting Standards) Second Amendment Rules, 2019 The relevant Accounting Standards relating to Intangible Assets are the following:- a. INDAS 38 b. IAS 38 c. AS 26. There is no major difference between INDAS 38 AND IAS 38.So the following details relate to […]...

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