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Archive: March, 2022

Posts in March, 2022

Guidelines for issuance of FORM GST DRC-07 in case of vehicles detained under E-way bill provisions

March 2, 2022 51633 Views 3 comments Print

In the Maharashtra Goods and Services Tax Department (MGSTD), the activity of interception of conveyances for verification of E-way bill is carried out by Enforcement officers as well as Non­-enforcement (Nodal) officers.

18% GST Payable on construction of IT Incubation Centre for TSIIC

March 2, 2022 3345 Views 0 comment Print

In re Siddhartha Constructions (GST AAR Telangana) M/s. Siddhartha Constructions are into business of works contracts and have executed works for Telangana State Industrial Infrastructure Corporation Limited (TSIIC). The applicant in this contract has constructed IT Incubation Centre at Pothugal, Karimnagar for the TSIIC. As per the Memorandum of Association filed by the applicant TSIIC […]

GST on Construction of IT towers for TSIIC

March 2, 2022 3189 Views 0 comment Print

In re Siddhartha Constructions (GST AAR Telangana) The Memorandum of Association of TSIIC at clause III(a)(3) clearly states that the company pursues the objectives to implement the schemes of incentives, subsidies and the like formulated by the Government of Telangana or Government of India or other authorities or institutions and to administer such schemes of […]

18% GST payable on construction of Administrative building for TSIIC

March 2, 2022 2883 Views 0 comment Print

In re Siddhartha Constructions (GST AAR Telangana) AAR held that works contract executed by the applicant for construction of Administrative building for TSIIC falls under Sr No. 3(vi) of Notification No. 11/2017-CT (Rate) as amended till date and therefore taxable at the rate of 6% under CGST & SGST each. However for works executed from […]

GST- Get Set Ready for section 38

March 2, 2022 49800 Views 1 comment Print

Understanding the changes in section 16 of GST and its impact on input tax credit. Stay informed about the latest amendments in the finance bill.

Classification of Creditors as Financial Creditors based on Deed of Hypothecation

March 2, 2022 6045 Views 0 comment Print

It is an admitted position that the Corporate Debtor hypothecated its assets in favour of indirect lenders under the DoH to secure the loans disbursed by them to the RCOM entities.

Get interest in your PO Savings or Bank Account in case of MIS/SCSS/TD A/cs

March 2, 2022 2817 Views 0 comment Print

It has come to notice that some MIS/SCSS/TD accounts holders have not linked their savings account (either PO Savings Account or Bank account) for credit of their monthly/quarterly/yearly interest and Interest due in these MIS/SCSS/TD accounts are left unpaid in sundry office account.

Reg. Application in Form 15E for section 195(2) & 195(7) certificates

March 2, 2022 4458 Views 0 comment Print

it has been decided that no such request for Form 15E for certificates under section 195(2) & 195(7) for a particular Financial Year shall be accepted after 15th of March of the Financial Year. For instance, no application for certificates for Financial Year 2021-22 shall be allowed after 15.03.2022.

No penalty for expiry of e-way bill if no intention to evade tax

March 1, 2022 10500 Views 0 comment Print

Ashok Kumar Sureka Vs Assistant Commissioner (Calcutta High Court) Hon’ble Calcutta HC in a matter relating to imposition of tax and penalty under section 129 of the CGST Act 2017 on the ground of expiry of e-way bill, has quashed the orders and allowed refund of both tax and penalty paid subject to compliance of […]

E-Invoicing System Under GST Act. 2017 if Turnover more than 20 cr

March 1, 2022 34872 Views 4 comments Print

Understand the E-Invoicing System under the GST Act of 2017 for businesses with a turnover exceeding Rs. 20 crore. Stay updated with the latest regulations and requirements.

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