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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 - CBIC issues 9 GST Circulars on 11th October 2019 i.e. Circular No. 113/32/2019-GST to Circular No. 121/40/2019-GST. Vide these Circulars CBIC has clarified various issues related to GST which includes Clarification regarding GST rates & classification of Goods , Scope of support services to exploration, mining or drilling of petroleum...
Read MoreGoods and Services Tax - CBIC issues 43 notifications on 30th September 2019 to give effect to Recommendations made by GST Council in its 37th Meeting. Most of the changes are effective from 1st October 2019 and includes changes in Custom Law, CGST, IGST and UTGST Law. Changes includes changes in Rates on certain Products and Services, Applicability of Reverse [&...
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 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 MoreCircular No. 121/40/2019-GST - (11/10/2019) - Circular No. 121/40/2019-GST- CBIC clarifies that service by way of grant of alcoholic liquor licence, against consideration in the form of licence fee or application fee or by whatever name it is called, by State Government is neither a supply of goods nor a supply of service. this special dispensa...
Read MoreCircular No. 120/39/2019-GST - (11/10/2019) - CBIC Clarification on the effective date of explanation inserted in notification No. 11/2017- CTR dated 28.06.2017, Sr. No. 3(vi) vide Circular No. 120/39/2019- GST Dated: 11th October 2019....
Read MoreCircular No. 119/38/2019-GST - (11/10/2019) - CBIC clarification on whether supply of securities under Securities Lending Scheme, 1997 by the lender is taxable under GST vide Circular No. 119/38/2019-GST Dated: 11th October 2019....
Read MoreCircular No. 118/37/2019-GST - (11/10/2019) - CBIC clarification on determination of place of supply in case of supply of software/design services by a supplier located in taxable territory to a service recipient located in nontaxable territory by using the sample hardware kits provided by the service recipient vide Circular No. 118/37/2019-G...
Read MoreCircular No. 117/36/2019-GST - (11/10/2019) - CBIC clarifies on applicability of GST exemption to the DG Shipping approved maritime courses conducted by Maritime Training Institutes of India vide Circular No. 117/36/2019-GST dated 11th October, 2019....
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Circular No. 121/40/2019-GST - (11/10/2019) -
Circular No. 120/39/2019-GST - (11/10/2019) -
Circular No. 119/38/2019-GST - (11/10/2019) -
Circular No. 118/37/2019-GST - (11/10/2019) -
Circular No. 117/36/2019-GST - (11/10/2019) -
Circular No. 116/35/2019-GST - (11/10/2019) -
Circular No. 115/34/2019-GST - (11/10/2019) -
Circular No. 114/33/2019-GST - (11/10/2019) -
Circular No. 113/32/2019-GST - (11/10/2019) -
