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Archive: December, 2021

Posts in December, 2021

Govt promotes 143 IRS officers to the grade of JCIT

December 30, 2021 9423 Views 0 comment Print

President is pleased to appoint 143 officers of Indian Revenue Service to the grade of Joint Commissioner of Income Tax (JCIT) purely on ad-hoc basis in Level-12 in the pay matrix Rs.78 ,800-2,09,200/-, w.e.f. 01.01.2022

Centre notifies rules for Consumer Protection (Jurisdiction of the District Commission, the State Commission and the National Commission) Rules, 2021

December 30, 2021 4107 Views 0 comment Print

Centre notifies rules for Consumer Protection (Jurisdiction of the District Commission, the State Commission and the National Commission) Rules, 2021 The revised pecuniary jurisdiction for entertaining consumer complaints shall be upto – 1) 50 lakh for District Commissions, 2) More than ₹50 lakh to ₹2 Crore for State Commissions and 3) More than ₹2 Crore […]

Important Amendments In GST Rules W.E.F. 01.01.2022

December 30, 2021 42723 Views 1 comment Print

Notification No.  40/2021 – Central Tax dt. 29.12.2021 has been issued to amend the CGST Rules, 2017 to compliment the amendments made in the CGST Act, 2017 that has been brought into force w.e.f. 01.01.2022. The given amendments in the Rules shall also apply w.e.f. 01.01.2022. The detailed analysis of the amendments in the Act […]

GST not leviable on handling charges of PDS distribution of Dhothies & Sarees/ School Uniforms to state government

December 30, 2021 1575 Views 0 comment Print

In re Handloom Weavers Cooperative Society Ltd. (GST AAR Tamilnadu) GST not leviable on handling charges of PDS distribution of Dhothies & Sarees/ School Uniforms to state government The AAR, Tamilnadu in the matter of M/S. Handloom Weavers Cooperative Society Ltd. [Advance Ruling No. TN/47/ARA/2021 dated December 30, 2021] held that, the services rendered by […]

GST on marine engines pertaining to HS code 8407 and its spare parts

December 30, 2021 4047 Views 0 comment Print

Applicability of GST rate 5% on marine engines pertaining to HS code without considering its general tax rate as per the entry of Schedule I, SI. No.252 of GST Act dated 28.06.2017, being this engine forms a part of boats of HS code 8906 being supplied to defence department and Naval base, Cochin is available to the applicant when such engines are fit in vessels used for patrolling/flood relief and rescue purposes. Applicability of GST rate at 5% under SI.no.252 cited above is not available for spare parts of marine engines.

Changes in Exemption on Goods under GST from 01.01.2022

December 30, 2021 11775 Views 0 comment Print

Certain changes in Goods Exemption Notification from January 01, 2022 to align it with HS 2022 Background: Earlier, the CBIC issued Notification No. 2/2017 Central Tax (Rate) dated June 28, 2017 (Goods Exemption Notification) in order to notify the exemption on certain supply of goods mentioned therein. Further, the new (seventh) edition of the Harmonized […]

Changes in Compensation Cess Rate on supply of certain goods from 01.01.2022

December 30, 2021 2445 Views 0 comment Print

Changes in Compensation Cess Rate Notification w.r.t. supply of certain goods from January 01, 2022 to align it with HS 2022 Background: Earlier, the CBIC issued Notification No. 1/2017-Compensation Cess (Rate) dated June 28, 2017 (Compensation Cess Rate Notification) in order to notify the rate of GST compensation cess to be levied on the intra-State […]

Changes in Concessional GST Rate on specified handicraft items from 01.01.2022

December 30, 2021 5406 Views 0 comment Print

Certain changes in the Concessional Rate Notification on specified handicraft items from January 01, 2022 to align it with HS 2022 Background: Earlier, the CBIC issued Notification No. 21/2018- Central Tax (Rate) dated July 26, 2018 (Concessional Rate Notification) in order to prescribe concessional GST rate on specified handicraft items. Further, the new (seventh) edition […]

Changes in GST Goods Rate Notification from January 01, 2022

December 30, 2021 12645 Views 1 comment Print

Certain changes in Goods Rate Notification from January 01, 2022 to align it with HS 2022 Background: Earlier, the CBIC issued Notification No. 1/2017 Central Tax (Rate) dated June 28, 2017 (Goods Rate Notification) in order to notify the rates of GST on supply of goods. Further, the new (seventh) edition of the Harmonized System […]

Annual Information Statement – Business Expenses

December 30, 2021 3414 Views 0 comment Print

Various expenditure is claimed and treated as ‘Business expenses’. However, at present, the information category ‘Business expenses’ as covered under ‘Annual Information Statement’ takes into consideration information from the following sources-

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