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ITC under GST available on detachable wooden flooring & stackable glass partitions

March 6, 2020 6492 Views 0 comment Print

Input tax credit can be availed by the Appellant on the detachable sliding and stackable glass partitions which is movable in nature. Procurement of detachable sliding and stackable glass partitions will be eligible for input tax credit and will not be hit by the provisions of Section 17(5)(d) of the CGST Act.

Wild Stone Deodorant Supplier found Guilty of Profiteering: NAA

March 6, 2020 2064 Views 0 comment Print

Applicant had alleged that theMcNROE Consumer Products Pvt. Ltd had not pass on the benefit of reduction in the GST rate from 28% to 18% on supply of Deodorant Wild Stone Deo Chrome BX 120 ml’.

Clarifications on Point of Sales Products & Persons – Life Insurance

March 6, 2020 933 Views 0 comment Print

The existing Non-POS products which meet the parameters of the allowed categories of POS Life Insurance products may be filed, subject to the boundary conditions as applicable to POS Life products, under existing provisions of minor modification, enclosing KFD.

Vivad Se Vishwas Scheme 2020 – Minimise Tax Litigations

March 5, 2020 12459 Views 0 comment Print

Article explains Why Vivad Se Vishwas Scheme 2020, Benefits of Vivad Se Vishwas Scheme 2020, Applicability of Vivad Se Vishwas Scheme 2020, Disputes Covered under Vivad Se Vishwas Scheme 2020, Eligibility Conditions for Vivad Se Vishwas Scheme 2020,  Exclusions under Vivad Se Vishwas Scheme 2020, SALIENT FEATURES, PAYMENT TERMS of Vivad Se Vishwas Scheme, What […]

MCA Extend last date of filing of Form NFRA-2 for FY 2018-19

March 5, 2020 4899 Views 0 comment Print

General Circular No. 07/2020 F. No.713912019-CL-I Government of India Ministry of CorPorate Affairs 5*’ Floor, ‘A’Wing, Shastri Bhawan, Dr. R. P. Road, New Delhi Dated: 05.03.2020 To A1l RDs, All RoC, The Stakeholders. Subject: Extension of the last date of filing of Form NFRA-2 reg. Sir, In continuation of the Ministry’s General Circular No. 14/2019 […]

GST on shifting / erection of electrical lines for Main Contractor of NHAI

March 5, 2020 7404 Views 0 comment Print

In re Gaurish Sharma (G K Enterprises) (GST AAR Rajasthan) Applicant is proposing to submit a bid for shifting / erection of electrical lines only to M/s Sadbhav Jodhpur Ring Road Pvt. Ltd who is the main Contractor of NHAI. Thus the activity to be carried out by the applicant is restricted to shifting / […]

No GST exemption on Coaching Services to CA & CMA students

March 5, 2020 3621 Views 0 comment Print

Whether the services of supply of service of education as per the curriculum prescribed by the statutory authorities/ government to the students of the applicant for obtaining qualifications/ certificates of CA-Foundation, CA-Inter, CA-Final, CMA (ICWA)-Foundation, CMA-Inter, CMA-Final and Intermediate duly recognized by the respective statutory authorities/ government are exempted under Notification N0.12/2017–CT (Rate) dt. 28.06.2017 (entry no.66(a)), as amended?

Supply, installation & fixing of furniture cannot be a works contract

March 5, 2020 6609 Views 0 comment Print

The supply, installation and fixing of furniture, customized or customized cannot be a works contract, as the items of furniture have been made or manufactured at the supplier’s place which have been installed or fixed at the place of the recipient. Such installed or fixed items of furniture can be removed/ moved to any place without damage to the furniture.

CBDT amends Rule 17C to include investment made by NPCI in its subsidiary companies

March 5, 2020 2106 Views 0 comment Print

Investment made by a person, authorised under section 4 of the Payment and Settlement Systems Act, 2007, in the equity share capital or bonds or debentures of a company- (A) which is engaged in operations of retail payments system or digital payments settlement or similar activities in India and abroad and is approved by the Reserve Bank of India for this purpose; and (B) in which at least fifty-one per cent of equity shares are held by National Payments Corporation of India.”

Cabinet approves Consolidation of 10 Public Sector Banks into 4

March 4, 2020 936 Views 0 comment Print

Cabinet approves Mega Consolidation in Public Sector Banks {PSBs} with effect from 1.4.2020. Government transforms PSB landscape with consolidation of ten PSBs into four with effect from 1.4.2020. Amalgamations to enable creation of digitally driven consolidated banks with global heft and business synergies.

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