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Archive: November, 2019

Posts in November, 2019

SOP on Input Tax Credit under GST in case of 20% cap

November 23, 2019 9429 Views 0 comment Print

Section 43A Rule 36(4) of the CGST Act, 2017 and CGST Rules, 2017 – Restricting the Input Tax Credit (ITC) limit to 20% of the eligible ITC which is as per GSTR-2A. GST Payable now shall be paid. ITC Deferred a/c balance left out now shall be recoverable in next months as when appear in […]

CBIC clarifies on Rate of GST on Job Work

November 22, 2019 33885 Views 0 comment Print

Doubts have been raised with regard to the recommendation of the GST Council to reduce rate of GST on all job work services, which earlier attracted 18 % rate, to 12%. CBIC clarified on the same

CGST- Bus body building includes building of body on chassis of any vehicle

November 22, 2019 2424 Views 0 comment Print

Notification No. 26/2019- Central Tax (Rate) For the purposes of this entry, the term bus body building shall include building of body on chassis of any vehicle falling under chapter 87 in the First Schedule to the Customs Tariff Act, 1975.

IGST: Bus body building includes building of body on chassis of any vehicle

November 22, 2019 636 Views 0 comment Print

Seeks to insert explanation regarding Bus Body Building in Notification No. 8/2017-Integrated Tax (Rate) dt. 28.06.2017 which is ‘For the purposes of this entry, the term ‘bus body building’ shall include building of body on chassis of any vehicle falling under chapter 87 in the First Schedule to the Customs Tariff Act, 1975.’

UTGST: Bus body building includes building of body on chassis of any vehicle

November 22, 2019 411 Views 0 comment Print

Seeks to insert explanation regarding Bus Body Building in Notification No. 11/2017-Union Territory Tax (Rate) dt. 28.06.2017 which is ‘For the purposes of this entry, the term ‘bus body building’ shall include building of body on chassis of any vehicle falling under chapter 87 in the First Schedule to the Customs Tariff Act, 1975.’ Government […]

Bail granted to assessee in default under GST subject to bond securities

November 22, 2019 1758 Views 0 comment Print

Atul Chopra Vs. State of Rajasthan (Rajasthan High Court) The issue under consideration is whether the bail will be granted to the assessee who was arrested for offence committed under GST? The offence as alleged in the FIR is under section 132(1)(a) read with section 132(1)(h), (j) and (k) of the Rajasthan Goods and Services […]

Section 68- No addition for duly explained cash deposited in bank

November 22, 2019 4473 Views 0 comment Print

ACIT Vs Siddhartha Bhargava (ITAT Kolkata) The issue under consideration is whether Cash deposits in bank account held as unexplained u/s 68 is justified? During the assessment proceedings, the assessee had produced bank account of the assessee in Punjab National Bank (PNB) and HSBC. On verification of the bank accounts, it was found that there […]

Web Portal for exchange of information on Income Tax Website

November 22, 2019 1215 Views 0 comment Print

Shri P.C. Mody, Chairman, Central Board of Direct Taxes (CBDT), inaugurated the Web Portal for Exchange of Information on Income Tax Website here today.

Revisit Compliance under SEBI (LODR) Regulations, 2015 by 1st April 2020

November 22, 2019 6174 Views 0 comment Print

Law being dynamic in nature can never be static. With new amendments, new compliances needs to be ensured. Keeping these in mind the following are the checklist that needs to be abided by the Listed Entities by 1st April 2020. Reg  No. Provision Views 17 (1) (A) The Board of directors of the top 1000 […]

Guide to Programme Credit Hours (PCH) for Company Secretaries

November 22, 2019 23028 Views 7 comments Print

It is mandatory for every Company Secretary to be it in practice or in employment to achieve mandatory Programme Credit Hours (PCH) as per the guidelines issued by the Institute of Company Secretaries of India (ICSI). Guidelines issued by ICSI for Compulsory Attendance of Professional Development Programmes for the Members (PCH Guideline) stated that in […]

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