"31 August 2019" Archive

PPT on Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019

Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019  as introduced vide THE FINANCE (NO.2) ACT, 2019 wef 1-9-2019 Objectives ♦ One time measure for liquidation of past disputes of central excise and service tax ♦ To provide an opportunity of voluntary disclosure to,non-compliant taxpayers. Cases covered under the Scheme… √A s...

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Posted Under: Excise Duty |

ICAI President’s Message – September 2019

My dear Professional Colleagues, While our Government has always been ready to take up all possible dynamic, innovative and futuristic measures to boost our national economy in the best interests of our nation, we Chartered Accountants are also equally committed towards our nation. We constantly keep playing on priority the desired role o...

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Posted Under: Excise Duty |

CBI Conducts Nationwide Joint Surprise Checks in a Special Anti Corruption Drive

The Central Bureau of Investigation is today conducting a special drive on anti corruption work. Under this drive, more than 150 Joint Surprise Checks (JSCs) at various places of suspected corruption across the country are being undertaken in association with the Vigilance Officers of concerned Government departments, Ministries and organ...

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Posted Under: Excise Duty |

Amendment of import policy of Agarbatti & other odoriferous preparations

Notification No. 15/2015-2020 (31/08/2019)

Import policy of Agarbatti and other odoriferous preparations which operate by burning under Exim code 33074100 and "Others" under Exim Code 33074900 of ITC (HS) 2017 — Schedule — 1 (Import Policy) is revised from 'Free' to 'Restricted'....

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GSTR-1 & GSTR-6 due date extended for taxpayers in J&K and 58 flood affected districts

Notification No. 41/2019–Central Tax (31/08/2019)

Notification No. 41/2019- Central Tax dated 31.08.2019 issued to waive the late fees for the month of July, 2019 for FORM GSTR-1 and GSTR-6 to be filed by taxpayers in J&K and 58 flood affected districts across 7 States provided the said returns are furnished by 20.09.2019. Waiver of late fees- Seeks to waive the […]...

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FORM GSTR-7 due date extended for taxpayers in J&K and 58 flood affected districts

Notification No. 40/2019–Central Tax (31/08/2019)

Notification No. 40/2019- Central Tax dated 31.08.2019 issued to extend due date for GSTR-7 to be filed by taxpayers in J&K and 58 flood affected districts across 7 States to 20.09.2019. Last date for filing GSTR-7 ( TDS return under section 51 read with section 39(3) of the CGST Act, 2017 and rule 66 of […]...

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Section 103 of Finance (No. 2) Act, 2019 applicable from 01.09.2019

Notification No. 39/2019–Central Tax (31/08/2019)

Notification No. 39/2019–Central Tax– Central Government appoints the 1st day of September, 2019, as the date on which the provisions of section 103 of the Finance (No. 2) Act, 2019 shall come into force. Disbursement of refund by single authority Extract of section 103 of the Finance (No. 2) Act, 2019 is as follows:- 103. [&helli...

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CBIC waives requirement to furnish declaration in FORM ITC-04

Notification No. 38/2019–Central Tax (31/08/2019)

Notification 38/2019-CT dated 31.08.2019 issued waiving requirement to furnish declaration in FORM ITC-04 for the period July, 2017-March 2018 and FY 2018-19 The declaration in FORM GST ITC-04 of the CGST rules, in respect of goods dispatched to a job worker or received from a job worker, during the period from July, 2017 to June, [&helli...

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Interest/late fees for services of pre-GST era, received after 1st July 2017

Interest/late fees for services of pre-GST era, received after 1st July 2017, are liable to GST Synopsis: The AAR, Tamil Nadu in the case of M/s Chennai Port Trust has held that the amounts received on or after July 1, 2017 towards interest, late fees, penalty relating to services of lease/rent, due to delayed payment of consideration [...

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Posted Under: Excise Duty |

Extension of due date for submission of GSTR 9 & 9C- Make effective use

Now that dead line for submission of GSTR 9 and 9C for FY2017-18 are extended by three months , there is huge sign of relief amongst assessees as well as auditors. Of course, there may be some dismay also, because some hopeful Associations and clients may rue that submission of GST annual returns for FY […]...

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Posted Under: Excise Duty |