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Notification under SEBI (Certification of Associated Persons in Securities Markets) Regulations, 2007

November 21, 2019 2241 Views 0 comment Print

Notification under Securities and Exchange Board of India (Certification of Associated Persons in the Securities Markets) Regulations, 2007-The trading members shall ensure that all such associated persons who are approved users or sales personnel as on the date of this notification obtain the certification by passing the Commodity Derivatives Certification Examination within two years from the date of this notification:

IILM University Sikkim liable to pay Service Tax on its Courses

November 21, 2019 609 Views 0 comment Print

IILM Business School Vs C.C.E. & S.T. Rajkot (CESTAT Ahmedabad) appellants themselves are not recognized by law to grant any degree and therefore, the service provided by the appellant qualifies as Commercial Coaching and Training. Notification 10/2003 reads as under:- “Commercial training or coaching centre providing commercial training or coaching of specified type exempted In […]

Important salient features of new GST returns wef 01.04.2020

November 21, 2019 22086 Views 1 comment Print

From 1st April 2020, taxpayers will be required to file the new GST return & they need to be familiar with new return functionality. Active participation of the taxpayers and GST practitioners in this trial return drive will enable to give their proper feedbacks/suggestions to improve the GST new return tool.

GST on GTA cannot be avoided by non-issuance of consignment note

November 20, 2019 3825 Views 0 comment Print

In re K M Trans Logistics Private Limited  (GST AAAR Rajasthan) Appellant is claiming on its official website (www.kmtrans.in) that they are serving about 90% of car makers viz. Maruti Suzuki, Toyota, Tata, Hyundai, Mahindra etc., are having Fleet Size of 1250, 35 branch offices, 32 loading stations, 80 service support. From this, it is clear […]

Competition Commission of India (General) Amendment Regulations, 2019

November 20, 2019 1416 Views 0 comment Print

(1) These regulations may be called the Competition Commission of India (General) Amendment Regulations, 2019. (2) They shall come into force on the date of their publication in the Official Gazette.

Lok Sabha Passes The Chit Funds (Amendment) Bill, 2019

November 20, 2019 1341 Views 0 comment Print

The Chit Funds (Amendment) Bill, 2019 was introduced in Loksabha on 05.08.2019 and was passed by Lok Sabha on 20.11.2019. Below is the text of Chit Funds (Amendment) Bill, 2019 as introduced in Loksabha on 05.08.2019 which explains why the same been introduced. As the end of this post we have provided link to download […]

Defence against WPs/PILs relating to GST

November 19, 2019 6951 Views 0 comment Print

1. A number of writ Petitions/ PILS are being filed in Hon’ble Supreme Court/ High Courts challenging various aspects of GST law. 2. Dept of Revenue has issued master instructions vide letter F.No. S-29012/12/2017 dated 14th August, 2019 on defense against writ petitions / PILs relating to GST to all States as well as Central […]

Enable assessee to file rectified TRAN -1 Form: Kerala HC to GST Dept

November 18, 2019 1533 Views 0 comment Print

In the instant case, as already noted, the availment of credit by the petitioner, and its entitlement to distribute the credit to its various branches is not disputed. I am therefore of the view that the 5th respondent should either permit the petitioner to file a rectified TRAN-1 Form electronically in favour of each of its branches in the country, or accept manually filed TRAN -1 Form with the appropriate corrections, on or before 30.12.2019.

No Service Tax on Value of Spare parts on which Sales Tax already been paid

November 18, 2019 2346 Views 0 comment Print

M/s. Novotron Broadband (P) Ltd. Vs Commissioner of GST & ST (CESTAT Chennai) The issue is with regard to demand of differential service tax on the value obtained is including value of the materials used in rendering Repairs and Maintenance Service. In M/s. Safety Retreading Co. (P) Ltd., (supra) the said issue has been decided, […]

Salaries not subject to GST: Unconfirmed CBIC press release on Social Media

November 16, 2019 5319 Views 2 comments Print

Central Board of Indirect Taxes & Customs (CBIC) today clarified that salaries are not subject to GST and no GST has been demanded on salaries paid to CEOs or employees. CBIC said that the media report in this regard alleging that tax authorities want to impose GST on salaries paid to employees is factually incorrect and misrepresents tax authorities.

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