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Archive: 03 October 2019

Posts in 03 October 2019

Services under Reverse Charge Mechanism in GST on 01.10.2019

October 3, 2019 406896 Views 15 comments Print

List of Services liable for Reverse Charge Mechanism (RCM) in GST including notified services effective from 1st October, 2019. In the normal course of taxability in GST liability to pay GST is on supplier on supply of Goods or services but in some cases recipient of goods or services are liable to pay GST. The […]

CBIC withdraws Discount Circular No. 105/24/2019-GST dated 28.06.2019

October 3, 2019 40107 Views 0 comment Print

Circular No. 112/31/2019 – GST- To ensure uniformity in the implementation law across, CBIC, hereby withdraws, ab-initio, Circular No. 105/24/2019-GST dated 28.06.2019.

CBIC clarifies on GST refund subsequent to favourable order in appeal

October 3, 2019 9081 Views 0 comment Print

Circular No. 111/30/2019 – GST: Seeks to clarify procedure to claim refund in FORM GST RFD-01 subsequent to favourable order in appeal or any other forum.

GST refund application when NIL refund application already been filed

October 3, 2019 25476 Views 0 comment Print

Circular No. 110/29/2019 – GST- Eligibility to file a refund application in FORM GST RFD-01 for a period and category under which a NIL refund application has already been filed. Circular No. 110/29/2019 – GST F.No. CBEC – 20/06/03/2019 – GST Government of India Ministry of Finance Department of Revenue Central Board of Indirect Taxes […]

Simplified Annual Return (Combined Form GSTR 9 & GSTR 9C)

October 3, 2019 2754 Views 0 comment Print

Biggest reason for non-filing of GSTR 9, 9A and 9 C is the complexity of these forms and asking for data which was not captured during the concerned period. Ahilya Chamber of Commerce and Industry, Indore has compiled a simplified Annual Return (Combined Form 9 and 9C) with the perspective of traders. and taking care […]

India’s First ‘Unlimited Trading Subscription Plans’ with Indiabulls Shubh

October 3, 2019 5265 Views 0 comment Print

The Indiabulls Shubh is a discount broking platform which offers unlimited trading with subscription-based plans. The customers could pick from a range of subscription plans on both Intraday as well as Delivery.

Ship demurrage charges not includible in assessable value

October 3, 2019 7161 Views 0 comment Print

M/s Jubilant Life Science Limited Vs Additional Director General (Adj) (CESTAT Delhi) Following the decision of the High Court of Orissa in the case of Tata Steel v. Union of India & Ors. [W.P. (C) No. 7917 of 2009],wherein the Explanation to Rule 10(2) of the Customs Valuation (Determination of Value of Imported Goods) Rules, […]

MAT Credit Clarification issued by CBDT – Impact Assessment

October 3, 2019 9417 Views 0 comment Print

The Central Board of Income taxes, vide Circular No. 29/2019 dated 2nd October 2019 have issued clarification on the usability of the Minimum Alternate Taxes (MAT), subsequent to the issue of the Taxation Laws (Amendment) Ordinance, 2019. The Amendment Ordinance, had provided an option to the existing domestic company of paying tax at reduced base […]

5 Important Benefits of Doing CFA After CA

October 3, 2019 82593 Views 5 comments Print

Chartered Accountancy (CA) and the Chartered Financial Analyst Program (CFA) are one of the most preferred career options for aspirants. The CA is most in-demand course in India whereas the CFA program has its popularity across the globe as a most sought-after professional qualification. Opt for CFA after being qualified as CA is a better […]

Single Authority GST Refund Disbursement Process: Concept Document

October 3, 2019 35382 Views 1 comment Print

1. The taxpayer files refund application on the portal in form RFD-01. 2. On filing of RFD-01 application, common portal shall process the data and generate Taxpayers’ (Assessee) Master file. This file contains the details of the taxpayers’ bank account. 3. The Assessee Master is then shared with Public Financial Management System (PFMS) of Controller General of Accounts (CGA), Ministry of Finance for validation of bank account details.

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October 2019