The specific case of the petitioner is that the consignment was intended to be supplied to three parties for quality appraisal on job work basis. Such transactions are not prohibited. Such goods in terms of the provisions contained in the CGST and SGST Act are to be transported on delivery chalans. The question whether the person to whom such goods are supplied has registration is irrelevant in the context of the statutes.
Please refer to Master Circular DBR.No.BP.BC.6/21.04.141/2015-16 dated July 1, 2015 on the captioned subject. Banks are required to mark to market (MTM) the individual scrips in Available for Sale (AFS) at quarterly/more frequent intervals and Held for Trading (HFT) at monthly/more frequent intervals and provide for net depreciation, if any.
In terms of Article 279A of the Constitution of India, it cannot be said that the recommendations made by the Goods and Services Tax Council are in violation of the Code of Conduct.
Petitioner made representations stating that the contract works for which the agreements were executed prior to 01.07.2017 GST cannot be imposed and 2% VAT alone is applicable.
Petitioner has challenged second proviso to sub-section (1) of section 140 of the Gujarat goods and service tax act, 2017 under which certain restrictions have been imposed on a dealer for taking tax credit under then the VAT act. counsel for the petitioner submitted that the provision deprives a dealer to his vested right and thus, the statute acts retrospectively and also imposes an unreasonable restriction.
The question raised in the present petition concerns Rule 96A of the Central Goods and Services Tax Rules, 2017 and Circular No. 4/4/2017- GST issued by the Central Board of Excise and Customs (GST Policy Wing), in terms of which any person exporting goods or services without payment of integrated tax is required to furnish a bond or a letter of undertaking (‘LUT’) in Form GST RFD-11.
As per the Circular No. 8/8/2017-GST dated 04.10.2017, the LUT shall be valid for the whole Financial Year in which it is tendered. Thus, the LUT obtained during FY 2017-18 shall be valid till 31st March, 2018. Exporters who intend to export under LUT are advised to submit fresh LUT for exports w.e.f. 01.04.2018.
Contents of Bank Audit Manual 2017-18 1. Key Points 2. Asset Classification & Provisioning – a ready reckoner 3. Income Recognition & Asset Classification Norms – at a Glance 4. Important Points 5. Asset Classification – at a Glance 6. Important Audit Checks 7. Draft Management Representation Letter
1. E-way bill for inter-State movement of goods will be implemented from 1st April, 2018. Till then e-way bill can be generated on voluntary basis. 2. You can register now on the portal of e-way bill namely http://ewaybillgst.gov.in by using your GSTIN. You don’t need to wait 1st April, 2018.11 you don’t have GSTIN, then […]
The e-way bill system for inter-State movement of goods across the country is being introduced from 01st April 2018. Few clarifications regarding the new e-way bill system are as follows:
