Post Sales Discount -Withdrawal of Circular No. 105/24/2019-GST dated 28.06.2019 vide Circular No. 112/31/2019–GST dated 3rd October, 2019 Legal Provisions (Sec 15(3) of the CGST Act 2017): Amount of discount can be reduced for charging GST in the following circumstances: Discount offered before or at the time of supply (Discount mentioned on invoice itself) Discount offered […]
Introduction: Notification No. 49/2019 Central Tax dated 09.10.2019 inserted explanation to sub rule 3 and also inserted sub rule 5 after sub rule 4 to rule 21A of CGST Rules 2017. Rule 21A of CGST Rules 2017 talks about Suspension of GST Registration Sub Rule 3 of Rule 21A of CGST Rules 2017 says: A […]
The objective of this document is to summarize all the updates of Income Tax (Notifications, Circulars, other amendments and updates) for the Month of September 2019 at one place. The same are being summarized below, along with certain important press release and clarifications. 1. Central Government prescribed E-assessment Scheme, 2019 for the purpose of making […]
Free Updated E-Book on Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019 as on October 09, 2019 by Mr. Bimal Jain In the Union Budget 2019-20, the Hon’ble Finance Minister announced the Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019 (SVLDRS, 2019 or the Scheme) to close the pending legacy disputes of Service Tax and Excise. The […]
The predominant nature of supply is construction of part of Dam ie, construction of various structures of dam like tunnels etc. Such structures are covered by the definition of Dam as per The Dam Safety Bill, 2019 which was placed in the Lok Sabha.
Mere non quoting of the reasons for reopening by AO in the impugned notice would not vitiate the entire proceedings. Department had to furnish the reasons to assessee and on receipt of the reasons, if assessee were of the opinion that there were no additional material or new materials were available then they could submit their objections in respect of the change of opinion or reason to believe.
PVC Tufted Coir Mats and Matting cannot be considered as textile of coir and floor coverings covered under HSN 5702, 5703 and 5705 and hence taxable @12% under Customs Tariff Head 5703 90 90.
PVC Tufted Coir Mats and Matting cannot be considered as textile of coir and floor coverings covered under HSN 5702, 5703 and 5705. If any, PVC or rubber or any other materials are stuffed on the textile of coir, which is used as floor mats or mattings, it will come under the Customs Tariff Head 5703 90 90 and it will be taxed @ 12% GST as per Entry at Sl No. 144 of Schedule II of Notification No. 01/2017 Central Tax (Rate) dated 28.06.2017.
Ensuring financial stability of an economy hinges on an effective enforcement of creditor rights, duly supported by procedures that afford efficacious, transparent and predictable mechanisms for debt recovery. Insolvency processes establish such comprehensive procedures wherein legal and administrative policies and rules are put into play by different economic agents.
Bentonite Powder used for electrical earthing is commercially known as ‘Back Fill Compound’ and it consist of mixture of Bentonite powder, wood charcoal powder, Graphite powder and Sodium sulphate. This mixture is used as an agent for reducing surface tension. Hence it comes under the Heading 3824.99.17 and is taxable at the rate of 18% as per SI No. 97 of Schedule III of Notification No. 01/2017 Central Tax (Rate) dated 28.06.2017
