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Goods and Services Tax - The input tax credit utilization rule has undergone a huge roller coaster ride since introduction of the Goods and Service Tax Law. Every registered taxpayer dealing with the GST would be much concerned about the input tax credit utilization rules since it directly affects its finance and working capital at a large. Stage-wise provisions ...
Read MoreGoods and Services Tax - Amendments carried out through the Finance (No. 2) Bill, 2019 come into effect on the date of its enactment, unless otherwise specified. Amendments carried out in the Finance Bill, 2019 will come into effect from the date when the same will be notified, concurrently with the corresponding amendments to the Acts passed earlier by the [&hel...
Read MoreGoods and Services Tax - Key highlights of Central Goods and Service Tax (Fourth Amendment) Rules, 2019 The Central Board of Indirect Taxes and Customs notified the Central Goods and Service Tax (Fourth Amendment) Rules, 2019, vide its notification no. 31/2019–Central Tax dated 28th June 2019. The present articles summarize the key highlights of the newly noti...
Read MoreGoods and Services Tax - As per section 148 of the Companies Act 2013, the specific companies are required to maintain the cost records (having turnover exceeding Rupees Thirty-Five Crores*) and/or are supposed file Cost Audit Reports (for companies having turnover exceeding Fifty/Hundred Crores*) with Ministry of Corporate Affairs....
Read MoreGoods and Services Tax - GST Updates – Recent Notifications, Circulars and Orders Issued by CBIC – 28th June, 2019 1. In order to give effect to the decisions taken during 35th GST Council Meeting, the Central Board of Indirect Taxes and Customs (‘CBIC’) has issued various notifications and orders. In addition to the same, it has issued clarification thro...
Read MoreGoods and Services Tax - This article have updated Central Goods and Services Tax Rules, 2017 / CGST Rules, 2017, which were initially released on 19th June 2017 and amended by various notifications issued from time to time. CGST Rules are updated with notifications issued till 18th July 2019. Details of Initial and Subsequent Notifications :- S. No. Notification...
Read MoreGoods and Services Tax - On 23rd April 2019 CBIC issued 3 CGST Notifications, 2 Circulars and 1 Removal of Difficulty Order. CBIC added proviso to Rule 23, Amended Rule 62 to provide rule for payment and return filing by Specified Composition dealers, Inserted Form GST CMP – 08– Statement for payment of self-assessed tax, added a new instruction to [&hell...
Read MoreGoods and Services Tax - CBIC issues 23 notifications / Orders on 29th March 2019 which related to new rate of CGST in the real estate (residential unit). Notifications relates to Rate of Tax payable on Real Estate Sector Services and Goods, Applicability of Reverse Charge Mechanism on Real Estate Goods and Services and also Applicability of Reverse Charge Mech...
Read MoreGoods and Services Tax - Following notifications were issued by CBIC on 7th March 2019 to implement decision of 32nd GST council meeting. It increases threshold for Composition scheme from 1 cr to 1.5 Cr. w.e.f. 01. Apr.19, Notifies due date for GSTR-3B for Apr’19-Jun’19, Notifying due date for GSTR-1 for Apr’19-Jun’19, Increase in limit...
Read MoreGoods and Services Tax - CBIC issues 9 notification/ Circulars on 07th March 2019 to give effect to Latest GST Council meeting decisions with effect from 01.04.2019 which includes increase in GST Composition Limit, Increase in GST Registration Limit, Due of GSTe 1 and GSTR 3B etc. S. No. Title Notification No. Date 1 GST Composition Scheme limit enhanced to [&hel...
Read MoreVimal Yashwantgiri Goswami Vs. State of Gujarat (Gujarat High Court) - The powers of arrest under Section 69 of the Act, 2017 are to be exercised with lot of care and circumspection. Prosecution should normally be launched only after the adjudication is completed....
Read MoreOptival Health Solutions Pvt Ltd Vs UOI (Calcutta High Court) - Optival Health Solutions Pvt Ltd Vs UOI (Calcutta High Court) Petitioners have sought a direction upon the respondents to allow them to revise/rectify their Form GST TRAN-2 electronically or manually – Petitioners contend that the present scheme of things does not allow rectification or revision o...
Read MorePatran Steel Rolling Mill Vs Assistant Commissioner of State Tax (Gujarat High Court) - If the dealer is a fly by night operator or a habitual offender or does not have sufficient means to pay the dues that may arise upon assessment, such action may be justified. Such drastic powers under section 83 of the Act should not be exercised as a matter of course, but only after due applicatio...
Read MoreKerala State Screening Committee on Anti-profiteering Vs M/s. Maruti Suzuki India Ltd (National Anti-Profiteering Authority) - M/s Maruti Suzuki India Ltd. Vs Director General Anti-Profiteering Central Board of Indirect Tax (National Anti-Profiteering Authority) We have carefully considered the DGAP’s Report and the documents placed on record to examine whether there was any reduction in the rate of tax during the imp...
Read MoreCommissioner of Central Tax, GST Delhi (West) Vs Rajesh Jindal (Patiala House Court) - Commissioner of Central Tax, GST Delhi (West) Vs Rajesh Jindal (CGST Delhi) As already noted, not only there are serious allegations against the accused/ respondent of his having made fictitious sales of value of more than Rs. 200 crores and having consequently caused loss to the government of the ...
Read MoreNotification No. 13/2019- Central Tax (Rate) [G.S.R. 540(E).] - (31/07/2019) - Notification No. 13/2019- Central Tax (Rate)– CBIC seeks to exempt the hiring of Electric buses by local authorities from GST. Government of India Ministry of Finance (Department of Revenue) Notification No. 13/2019- Central Tax (Rate) New Delhi, the 31st July 2019 G.S.R. 540(E).– In ex...
Read MoreCircular No. 108/27/2019-GST - (18/07/2019) - CBIC clarifies GST issues regarding procedure to be followed in respect of goods sent / taken out of India for exhibition or on consignment basis for export promotion vide Circular No. 108/27/2019-GST Dated 18th July, 2019. Also Read- CBIC Clarification in respect of goods taken out of India for exh...
Read MoreCircular No. 107/26/2019-GST - (18/07/2019) - CBIC issues clarification on issues related to supply of Information Technology enabled Service (ITeS services) such as call center, business process outsourcing service, etc. and ‘Intermediaries’ to overseas entities under GST law and whether they qualify to be ‘export of services...
Read MoreNotification No. 34/2019 – Central Tax / G.S.R.514(E) - (18/07/2019) - CBIC extends the last date / Due date for furnishing GST Composition Scheme payment FORM GST CMP-08 statement containing the details of payment of self-assessed tax, for the quarter April, 2019 to June, 2019, or part thereof, to 31st day of July, 2019 vide Notification No. 34/2019 – Central Tax ...
Read MoreNotification No. 33/2019 – Central Tax [G.S.R. 513(E).] - (18/07/2019) - Central Goods and Services Tax (Fifth Amendment) Rules, 2019- Inserted Rule 4A related to Issue of E-Ticket by Multiplexes, Inserted Rule 83B- Surrender of enrolment of goods and services tax practitioner, Inserted New Form GST PCT-06- Application For Cancellation Of Enrolment As Goods And Services ...
Read MoreVimal Yashwantgiri Goswami Vs. State of Gujarat (Gujarat High Court) -
Notification No. 13/2019- Central Tax (Rate) [G.S.R. 540(E).] - (31/07/2019) -
Circular No. 108/27/2019-GST - (18/07/2019) -
Circular No. 107/26/2019-GST - (18/07/2019) -
Notification No. 34/2019 – Central Tax / G.S.R.514(E) - (18/07/2019) -
Notification No. 33/2019 – Central Tax [G.S.R. 513(E).] - (18/07/2019) -
