In re KSR & Company (GST AAR Andhra Pradesh) The Applicant is eligible for Input Tax Credit (ITC) in respect of the GST paid on goods and services used as inputs in execution of “Works Contracts’. Input Tax Credit restriction under section 17(5)(c) and 17(5)(d) will not apply to the applicant as his output is […]
In re Metro Aluminium (GST AAR Andhra Pradesh) Irrespective of the end use of the ladders whether for domestic purpose or for Commercial use, Aluminium ladders come under HSN code 7616, ‘Other articles of Aluminium’ and accordingly attract Tax rate of 18% (9% CGST+9% SGST). FULL TEXT OF ORDER OF AUTHORITY OF ADVANCE RULING, ANDHRA […]
In re Space age syntex Pvt. Ltd. (GST AAAR Maharashtra) The Appellate Authority for Advance Ruling set aside the ruling given by the Advance Ruling Authority by observing that No GST is applicable on the sale or purchase of DFIA, as provided in Sr. 122A of the Notification 02/2017-C.T. (Rate) dated 28.06.2017 as amended by […]
ICAI ARF assigned the task of reopening of the books and recasting of the financial statements of IL&FS, IFIN and ITNL from Financial Year 2012-13 to Financial Year 2017-18
E-Capsule Compiler for Quick Revision The Board of Studies has recently launched e-Capsules on ICAI Cloud Campus which are a compilation of subject-wise capsules published in “The Chartered Accountant Student” – a monthly journal released by the Board of Studies. The capsules have been started in the Students’ Journal from April, 2017 and are continuing […]
Educational Material on Indian Accounting Standard (Ind AS) 111, Joint Arrangements This Educational Material on Ind AS 111, Joint Arrangements will provide guidance to the stakeholders in how an entity that is a party to a joint arrangement to determine the type of joint arrangement by assessing its rights and obligations and to account for those […]
Notification No. 11/2019-Customs (ADD) Central Government hereby rescinds the notification of the Government of India, in the Ministry of Finance (Department of Revenue), No. 11/2013-Customs (ADD), dated the 16th May, 2013, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R. 318(E), dated the 16th May, 2013, except as respects things done or omitted to be done before such recession.
Rajesh Jindal Vs Commissioner of Central Tax GST Delhi (West) (Delhi High Court) Counsel for the respondent says that statements have been recorded inter alia of one Sh. Deepak Taneja and Sh. Ravinder Tyagi, both of whom have stated, giving specifics, that the petitioner has threatened them since they were made dummy directors by the […]
DGAP has submitted in its report that the rate of tax on the product Trousers (Denim Jeans Design 899) had remained the same in the pre-GST and the post- GST era. Moreover, the pre-GST and post-GST base prices (excluding tax) had also remained the same. Therefore, the provisions of Section 171 of the CGST Act, 2017 have not been contravened and the allegation of profiteering by the Respondent was not established.
Central Government hereby makes the following rules further to amend the Companies (Significant Beneficial Owners) Rules, 2018, namely These rules may be called the Companies (Significant Beneficial Owners) Amendment Rules, 2019.
