GST Council is meeting on Saturday, 22nd December, 2018, perhaps for the last time in 2018 and for the first time after recent elections in few states. With the dates for filing GST Annual returns already postponed to March 2019, this meeting is likely to focus on GST rate cuts to bring further rationalisation in rate structure in India. This meeting may also address the woes of several trade concerns regarding taxability of certain goods and services, which are widely consumed across India.
The next GST Council meeting (31st) is scheduled to be held on 22 December, 2018 in Delhi, perhaps the last one of 2018, wherein certain further rationalization steps may be taken. New functionalities on advance ruling, GST refund, appeal etc have since been added on GST portal.
Following are some of the updates on filings and procedures in implementation of GST : Result of Examination of GST Practitioners held on 31.10.2018 declared by NACIN. Due to Assembly elections on 7th December, 2018, the examination of GST Practitioners to be held on 7th December, 2018 postponed to 17th December, 2018. GST Practitioners Confirmation exam postponed to 17.12.2018
Section 171 of GST law is the most powerful provision to check excessive profiteering resorted to by businesses owing to tax efficiency accruing because of goods and services tax (GST). The National Anti-profiteering Authority (NAA) entrusted with disposing of such cases including implementation of provision and monitoring has already decided over a dozen of anti-profiteering complaints and ruled, both for and against complaints.
In yet another case where anti-profiteering charges have been established, the National Anti-profiteering Authority (NAA) has confirmed that sale of Maggie Noodle pack (Noodles) at same price even after rate of GST on it was reduced from 18% to 12% w.e.f. 15 November, 2017 was a case of anti-profiteering u/s 171 of the CGST Act 2017 read with Rule 128 CGST Rules, 2017 and that the dealer ought to be booked and penalized for indulging in such anti-profiteering act.
CBIC has issued various Circulars and Notifications in last few days. The approach of ‘listening, adjusting and changing’ is the order of the day. Article covers Analysis of GST Notification and Circulars issued between 23.10.2018 to 04.11.2018
The GST regime is plagued with extension of due dates since its inception. There is not even a single return whose due date has not been extended, atleast once or even more- be it any return. The latest comes for extension of due date for filing GSTR-3B for the month of September, 2018 which has been extended by five days from 20th October, 2018 to 25th October, 2018.
Dr. Sanjiv Agarwal, FCA, FCS For the first time, National Anti-Profiteering Authority has held against the real estate company for Anti-profiteering activities in case of sale of flats to buyers. In Sukhbir Rohila v. Pyramid Infratech Pvt. Ltd. (2018) 9 TMI 1107 (NAA); (2018) 97 taxmann.com 379 (NAA), the National Anti-Profiteering Authority vide its order dated […]
It is a growing trend now a days that more and more Indian students are opting for higher and technical education from foreign universities abroad and there are agencies who act as facilitators (intermediaries) between potential students and foreign universities.
Central Goods and Service Tax (Amendment) Act, 2018 – which amends CGST Act, 2017. The Act provides for certain provisions for smooth transition of existing taxpayers to new goods and services tax regime. However, the new tax regime had faced certain difficulties. One of the major inconveniences caused to the taxpayers, especially small and medium enterprises,
