"15 June 2021" Archive

Waiver & Reduction of GST Rates for Covid Management

The 44th GST Council met on 12 June, 2021 for 44th time, just after a fortnight of its last meeting to consider and decide upon GST tax relief to goods and services being used in Covid-19 treatment and management. This is based on widespread public demand to do so for quite some time, though the […]...

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Bakery Products, Chips etc: Branded & unbranded; Rate of tax under GST

The Goods and Services Tax (GST), a new scheme of indirect taxation, after a decade of intense debate came to realization and existence, four years back. GST was introduced to the country to reduce the tax burden on producers, to avoid procedural wrangles all across and to stimulate economic growth through more production....

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Higher Rate of TDS – Applicable w.e.f 01st July 2021

Higher rate of withholding tax for non-filers of income-tax returns – Section 206AB Section 206AA of the IT Act provides for higher rate of tax withholding for non-furnishing of PAN. In order to further increase the compliance of filing return of income by persons who have borne a reasonable amount of withholding taxes, the Finance [&he...

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GST on Various Services provided by Tiruppur City Municipality

In re Tiruppur City Municipal Corporation (GST AAR Tamilnadu)

In re Tiruppur City Municipal Corporation (GST AAR Tamilnadu) Q.1. Advance ruling is required in respect of Sl No 1 to 5, 7 to 9, as to whether the services rendered by us directly are covered under Twelfth Schedule to Article 243W of the Constitution and /or exempted under the Notfn. No mentioned against each Sl […]...

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AAR explains GST on Various services provided by Municipality

In re Erode City Municipal Corporation (GST AAR Tamilnadu)

In re Erode City Municipal Corporation (GST AAR Tamilnadu) Q1. Advance ruling is required in respect of Sl No 1 to 6, 8,9 & 13 whether the services rendered by us directly are covered under Twelfth Schedule to Article 243W of the Constitution and / or exempted under the Notfn. No mentioned against each SI […]...

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GST on construction of Residential Real Estate Project other than affordable residential apartments’

In re Ashiana Housing Limited (GST AAR Tamilnadu)

In re Ashiana Housing Limited (GST AAR Tamilnadu) Whether the activities of construction carried out by the applicant for its customer under the Construction Agreement, being composite supply of works contract are appropriately classifiable under Heading 9997, and chargeable to CGST @ 9% under S. No. 35 of Notification No.11/2017- CT(Rate...

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AAR application not admissible if question raised was already been decided

In re Veena Madhukant (Shree Parshwanath Coconuts) (GST AAR Tamilnadu)

In re Veena Madhukant (Shree Parshwanath Coconuts) (GST AAR Tamilnadu) The Authorised representative was intimated that the question raised in the application stands decided under Section 60 of the CGST/TNGST Act 2017 in their own case by the Jurisdictional authority, therefore as per first proviso to Section 98(2) of the Act, the applica...

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Format of Declaration of filing of Income Tax Return for last two years

Undertaking pursuant to Section 206AB and Section 206CCA of the Income Tax Act, 1961 To, (NAME OF THE BUYER/ SERVICE PROVIDER) Dear Madam/Sir, Subject: Declaration confirming filing of Income Tax Return for immediate two preceding years This is in respect to payments due or payments to be made to us for Financial Year 2021-22 (period [&he...

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Cost Inflation Index | Meaning & Index from 1981-82 to 2021-22

Article discusses Meaning of Cost Inflation Index (CII) which is used for Computation of Long Term Capital Gain. Cost Inflation index are Notified by CBDT every year and till date CBDT has notified Cost Inflation Index for the Financial Year 1981-82 to Financial year 2021-21.  Cost Inflation index are used for computing indexed cost of [...

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Revise MRP of medicines on which GST rates been reduced: NPPA

File No. 19(175)/2019/DP/NPPA/Div. II 15/06/2021

All the manufacturers and marketing companies are required to revise the MRP of drugs/formulations on which Tax/GST rates have been reduced taking into effect the revised rates of Tax/GST. Recalling or re-labelling or re-stickering on the label of container or pack of released stocks in the market prior to date of notifications, is not ma...

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