Even after amendment in Section 16(4) of CGST Act, the ITC on Debit Notes should be seen w.r.t. the FY for which corresponding invoices were issued instead of FY in which Debit Notes were issued.
CBIC amends notification No. 34/2016 – Customs (ADD), dated 14th July 2016 to extend the levy of Anti-Dumping duty on ‘Plain Medium Density Fibre Board (MDF) having thickness of 6mm and above’ originating in or exported from Vietnam, up to and inclusive of 13th March, 2022 vide Notification No. 40/2021-Customs (ADD) | Dated: 30th June, […]
Introduction: The Limited Liability Partnership (LLP) is formed under the LLP Act, 2008. LLP Registration is a famous term among Startups and new entrepreneurs. It can be difficult to operate an LLP type of business as compared to another type of business that offers better opportunities for the growth and development of the business. So, the benefits […]
CBIC amends notification No. 43/2016-Customs(ADD) dated 8th August, 2016, to extend levy of ADD imposed on Viscose Staple Fibre (VSF) excluding Bamboo Fibre, Dyed Fibre, Modal Fibre & Fire-retardant Fibre originating in or exported from China PR and Indonesia vide Notification No. 39/2021-Customs (ADD) | Dated: 30th June, 2021. MINISTRY OF FINANCE (Department of Revenue) […]
CBIC amends notification No. 42/2016-Customs (ADD) dated 8th August, 2016 to extend the levy of Anti-Dumping duty on PVC Flex Film originating in or exported from China PR, up to and inclusive of 31st January, 2022 vide Notification No. 38/2021-Customs (ADD) | Dated: 30th June, 2021. MINISTRY OF FINANCE (Department of Revenue) New Delhi, the […]
The Market Regulator Security Exchange Board of India (SEBI) met in Mumbai on Tuesday i.e. 29th June 2021. The Board of SEBI takes decisions on the following mentioned topics:- 1. REVIEW (A). Review and Merger of SEBI (Issue and Listing of Debt Securities) Regulations, 2008 and SEBI (Non-Convertible Redeemable Preference Shares) Regulations, 2013 into a single Regulation […]
In re Vadilal Industries Ltd. (GST AAR Gujarat) 1. ‘Paratha’ merits classification at HSN 21069099. We find that GST rate of 5% is applicable subject to (i) products shall be classified at HSN 1905 or 2106 and (ii) description shall be khakhra, plain chapatti or roti. In the issue in hand, we find that the […]
The constitutional validity of Section 13(8)(b) of the IGST Act, 2017 (Act) has been examined by Gujarat High court and then Bombay High court. While the division bench of the Gujarat High court upheld the said provision, the division bench of the Bombay High court took a divergent view. Justice Ujjal Bhuyan of the Bombay […]
In re Tirupati Construction (GST AAR Gujarat) Whether the activity of composite supply of works contract service by way of construction of fish market for the Panchayat (Road and Building) Division, Valsad District Panchayat merits classification at Serial Number 3(vi)(a) of Notification No. 11/2017-Central Tax(Rate) dated 28-6-17 (hereinafter referred to as said NT)?” Ans. The subject Supply […]
In re Ahmedraza Abdulwahid Munshi (Nadim Scrap) (GST AAR Gujarat) 1. Composition Dealer purchasing Scrap/Used vehicles from the following Suppliers, namely: Central Government, State Government, Union territory or a local authority are liable to pay tax on RCM basis. There is no RCM tax liability for purchase of Scrap/Used vehicles from unregistered dealers. FULL TEXT […]
