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No profiteering if base price of product remain same after GST rate reduction

March 1, 2019 3033 Views 0 comment Print

Kerala State Screening Committee on Anti-profiteering Vs M/s Velbon Vitrified Tiles Pvt. Ltd (NAA) As seen from the invoices given above at para 4 it is clear that the base price of the product per box was Rs. 232.50 prior to 15.11.2017 and had remained the same even after GST rate reduction w.e.f. 15.11.2017. Therefore, […]

CEA says deterrence through IBC catalysed recovery of around Rs 3 lakh crore

March 1, 2019 612 Views 0 comment Print

Press Information Bureau  Government of India Ministry of Corporate Affairs Date: 01-March-2019 Innovation can lead India to forefront of competition: CEA Subramanian  CEA says deterrence through IBC catalysed recovery of around Rs 3 lakh crore Chief Economic Adviser K.V. Subramanian said that if this century has to belong to India then innovation has to be […]

Licensing services for right to use minerals falls under HSN 997337

March 1, 2019 3600 Views 0 comment Print

In re Quality Earth Minerals Pvt. Ltd (GST AAR Haryana) Q1. What is the classification of service provided in accordance with Notification No. 11/2017-CT (Rate), dated 28.06.2017  read with annexure attached to it, by the State of Haryana to M/s Quality Earth Minerals Pvt. Ltd., for which royalty is being paid? Whether said service can […]

GST on Royalty for Licensing services for right to use minerals including its exploration & evaluation

March 1, 2019 807 Views 0 comment Print

In re Sainik Mining and Allied Services Ltd. (GST AAR Haryana) Q1. What is the classification of service provided in accordance with Notification No. 11/2017-CT (Rate) dated 28.06.2017 read with annexure attached to it, by the State of Haryana to M/s Sainik Mining And Allied Services Ltd., for which royalty is being paid? Whether said […]

GST on purchase of demo vehicles cannot be availed as ITC

March 1, 2019 1917 Views 0 comment Print

In re Platinum Moto Corp. LLP (GST AAR Haryana) Q1. Whether Input Tax Credit (ITC) can be availed on such capital goods (demo cars) and set off against output tax payable under GST. The Goods and Services Tax paid on the purchase of demo vehicles cannot be availed as Input Tax Credit and set off […]

Exposure Draft of Standard on Internal Audit (SIA) 230 Objectives of Internal Audit

March 1, 2019 2439 Views 0 comment Print

Exposure Draft of Standard on Internal Audit (SIA) 230,Objectives of Internal Audit (Comments to be received by March 28, 2019) – (27-02-2019) EXPOSURE DRAFT  STANDARD ON INTERNAL AUDIT (SIA) 230 OBJECTIVES OF INTERNAL AUDIT* The Internal Audit Standards Board of The Institute of Chartered Accountants of India (ICAI) invites comments on Standard on Internal Audit […]

GST on Tour Services and Goods shown separately in Invoice

March 1, 2019 4608 Views 0 comment Print

Tax liability under GST for the tour packages, which are providing to guests by way of separate services like accommodation, serving food and beverages, service of authorized guides, trekking accessories etc. against separate invoices.

PVC Tufted Coir Mats & Matting classifiable under CTH 57039090

March 1, 2019 1176 Views 0 comment Print

In re M/s. Coco fibre Industries Private Limited (GST AAR Kerala) i) Whether or not PVC Tufted Colr Mats and Matting can be fitted into low band of tax rate of 5% as Cob Mats and Matting corresponding to entry in Schedule I. Serial Number 219 – 5702, 5703, 5705-Coir Mats, Matting, floor covering and […]

PVC Tufted Coir Mats and Matting falls under CTH 57039090

March 1, 2019 1113 Views 0 comment Print

In re Cocofibre Industries Private Limited (GST AAR Kerala) Q.1: Whether or not PVC Tufted Coir Mats and matting can be fitted into low band of tax rate of 5% as Coir Mats and Matting corresponding to entry in Schedule-I.Serial No.2019-5702,5703,5705-Coir Mats, Matting, floor covering and handloon durries with eligibility for refund of inverted tax rate […]

Application for Advance Ruling rejected for non payment of fees

March 1, 2019 753 Views 0 comment Print

As per Circular No. 25/25/2017-GST dated 21st  December, 2017 issued by Central Board of Excise and Customs, the applicant for advance ruling has to make the payment of the fee of Rs. 5,000/- each under the CGST and the respective SCST Act. But the petitioner has remitted Rs.5,000/- under SGST head only. Even though intimation was given to the applicant to pay deficit amount, there was no response from the side of applicant.

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