"05 January 2023" Archive

18% GST leviable on Interactive Flat Panel Screens if used for data processing purposes only

In re Savex Techonologies Pvt. Ltd. (GST AAR Chhattisgarh)

AAR held that, Interactive Flat Panel Screens used only for data processing purposes will attract GST rate of 18% and in case the same provides any additional function, GST at 28% will be attracted....

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Amendments to para 2.56 of Handbook of Procedure & addition of agencies to Appendix 2G

Public Notice No. 48/2015-2020-DGFT [F. No. 01/53/8/AM20/PSIA-2/IC] 05/01/2023

One Photo of Inspector shall be captured with empty container in the background having only one door closed (door with container number) and container number shall be clearly readable in that photo. Another photo of Inspector shall be captured with sealed container with same container number on the door clearly readable....

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Relaxation from compliance with certain provisions of SEBI (LODR) Regulations, 2015

Circular No. SEBI/HO/CFD/PoD-2/P/CIR/2023/4 05/01/2023

The notice of AGM published by advertisement in terms of regulation 47 of the LODR Regulations shall disclose the web-link to the annual report so as to enable shareholders to have access to the full annual report....

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Limited relaxation – dispatch of physical copies of financial statements etc.

Circular No. SEBI/HO/DDHS/DDHS-RACPOD1/P/CIR/2023/001 05/01/2023

MCA vide Circular dated December 28, 2022 has, inter-alia, now extended the relaxations from dispatching of physical copies of financial statements due in the year 2023 (i.e. till September 30, 2023)....

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11 Changes in GST Utilities/Forms on GST Portal

1. Automation of Drop Proceedings for taxpayers suspended upon issuance of SCN in Form GST REG-17 ♦ A taxpayer is suspended on the portal if they do not file six or more consecutive monthly returns /quarterly returns (QRMP) for two tax periods in Form GSTR 3B are issued with a system generated notice for cancellation […]...

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No GST exemption on Treated Water’ obtained from CETP

In re Hojiwala Infrastructure Limited (GST AAR Gujarat)

In re Hojiwala Infrastructure Limited (GST AAR Gujarat) 1. Treated Water’ obtained from CETP (classifiable under Chapter 2201) is not eligible for exemption from payment of Tax by virtue of SI. No. 99 of the Exemption notification no. 02/2017-C.T. (Rate) dated 28.06.2017. (as amended) and SI. No. 99 of the Exemption Notification No....

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GST Margin Scheme (GST on second hand goods) FAQs

The second hand goods industry has been substantially growing since past few decades in India and across the globe. There is a huge organized as well as unorganized market for second hand goods in India for re-sale of vehicles, electronic products, mobile phones, televisions, laptops, watches, jewellery, clothes, hand bags, sneakers, and ...

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Annual ROC Compliance forms For FY 2022-23

Annual Compliance forms For FY 2022-23  S. No Form Particular Period Due date* applicability 1 MSME-1 > For furnishing half yearly return with the registrar in respect of outstanding payments to Micro or Small Enterprises Half Yearly October,22 to March, 23     30.04.2023   Listed Company Public Company Private Company ...

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ITC is Available even in case of a Mismatch of 2A

Input Tax Credit is available when it gets reflected in GSTR-2A/2B of the recipient. In this Article we are going to discuss when a taxpayer can avail the Input Tax Credit when it is not reflecting in his GSTR-2A/2B and what is the procedure to avail the same. Before we proceed further, we would like […]...

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Refund of GST Paid by Unregistered Person on Purchase of Flat/ Units

Goods and Services Tax (GST) is levied upon the supply of goods as well as services by a taxable person as per the Central Goods and Services Tax Act, 2017 (Act). Certain transactions have been kept outside the purview of the GST regime. One such transaction is the sale of land and building. As per […]...

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January 2023