goods and services tax

GST: Deduction of Value of Land – Notional or Actual ??

Goods and Services Tax - Challenging the deemed value of land shall be far more difficult than what it seems. It shall be better if an alternate structure is adopted for transfer of land (e.g. separation of land owner and developer) to keep the fair value of land outside the ambit of GST....

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Source Documents and Crucial Area under Annual Return GSTR-9

Goods and Services Tax - A. CBIC, vide Notification No. 39/2018- Central Tax dtd. 4th September, 2018 has notified the Form of Annual Return. GSTR 9 is to be filed once in a year by the registered taxpayers, including persons registered under composition levy scheme, under Section 44 of the CGST Act, 2017. B. It consists of details regarding the […]...

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GST: Audit by tax Authority, Special Audit & Annual GST Audit

Goods and Services Tax - Section 65 – GST Audit by tax Authority (1) Authority Commissioner or any officer authorised by him (2) At place of business of the registered person or at their office (3) 15 working days prior notice (4) Audit shall be completed within a period of three months from the date of commencement of the audit […]...

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Co-relation between MVAT audit report and GST !

Goods and Services Tax - Arjuna, In the financial year 2017-18, 3 months were of Vat while the remaining 9 months were of GST. Therefore, taxpayers would be required to get their books audited as per their Turnover under both the laws. Hence while finalizing financials taxpayers might face problems. So let us discuss on the same....

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Suggestions on Form GSTR 9C- Reconciliation statement & Certification

Goods and Services Tax - We refer to the Form GSTR 9C Reconciliation statement & Certification notified vide Notification No. 49/2018- Central Tax dated 13th September, 2018. In this regard, we consider it a privilege to submit herewith ICAI's suggestions thereon. The suggestions have been finalized based on the inputs received from members across India who are i...

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E-Way Bill: Common Enrolment for Registered Transporters -Points to Remember

Goods and Services Tax - One of the requests of the transporters was that they have to be allowed to use one registration number for updation of e-way bills throughout the country. That is, once the e-way bill generated with one of GSTIN of its company, the system should enable to update the Part-B using any of their GSTINs without […]...

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GSTN started sharing Mis-match data with tax authorities

Goods and Services Tax - GSTN has started sharing data with tax authorities on the following: a.Mis-match between figures reported in GSTR-1 & GSTR-3B. b.Mis-match between figures reported GSTR-3B &that computed by the system in GSTR-2A. c.Taxpayers who have generated e-way bill but not filed tax returns....

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JOIN 4 day GST Practitioner Advanced Certified Training course of MSME

Goods and Services Tax - JOIN 4 day GST Practitioner Advanced Certified Training course of Ministry of M.S.M.E. at Indore, Jaipur, Hyderabad, Bangalore, Kolkata, Cochin, Gurgaon, Kolhapur, Goa, Trichy, Pune, Agra, New Delhi, Mumbai, Chennai and Coimbatore in December 2018 and January 2019 starting from 22 December 2018. BROCHURE FOR GST PRACTITIONER ADVANCED CERT...

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Join Online GST Certification Course by Taxguru & MSME

Goods and Services Tax - Due to overwhelming response and feedback from previous batches, TaxGuru, GST Professionals and Govt. of India (Ministry of M.S.M.E) announces its Jan’ 2019 Batch for Advanced Online GST Certification Course. Learn GST in a Practical way and become an Expert in this field....

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Extend due date of filing Form GSTR 9 & 9C: ICAI

Goods and Services Tax - We would like to draw your attention to the fact that around 90 Lacs registered persons are required to furnish the Annual Return in Form GSTR 9 and out of them approximately 20 lacs would be required to submit the Reconciliation Statement in Form GSTR - 9C before the due date i.e. 31st December 2018. ...

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HC condone Delay in filing First Appeal under GST

M/S. Swarnashilpi Vs Assistant State Tax Officer (Kerala High Court) - M/S. Swarnashilpi Vs Assistant State Tax Officer (Kerala High Court) In W.P.(C) No.13090 of 2018, the petitioner challenged the Ext.P6 assessment order. When the matter was taken up, the learned Government Pleader pointed out that the petitioner had an efficacious alternative remedy. Then, the peti...

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5% GST payable on Earth Work constituting more than 75% of work order

In re M/s. P.K. Agarwala (GST AAR Jharkhand) - In re M/s. P.K. Agarwala (GST AAR Jharkhand) The term Earth Work has not been defined under any GST provisions. The Webster Dictionary defines Earth Work as ” an embankment or construction made of earth specially one used as a field fortification. The Collins dictionary defines Earth Work as ...

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Slump sale of business as going concern to related party qualifies as supply

In re Merck Life Science Private Limited (GST AAR Maharashtra) - Seller has agreed to sell, transfer, convey, assign and deliver to the applicant or to any affiliates as directed by applicant for the BPL business which would be transferred as a slump sale on going concern basis. BPL business means BP business, LS Business and PM business as going concern as outli...

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No profiteering if no decrease in Tax Rate & no increase in profit Margin

Shri Shylesh Damodaran Vs Landmark Automobiles Pvt. Ltd. (National Anti-Profiteering Authority) - Shri Shylesh Damodaran Vs Landmark Automobiles Pvt. Ltd. (National Anti-Profiteering Authority) It is clear from the plain reading of Section 171 (1) that it deals with two situations one relating to the passing on the benefit of reduction in the rate of tax and the second pertaining to the passing ...

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GST payable on commission from website users, pundits or Brahmins

In re Sadashiv Anajee Shete (GST AAR Maharashtra) - In re Sadashiv Anajee Shete (GST AAR Maharashtra) In the present case we find that applicant and recipient are not related persons and price received is sole consideration. We further see that these services are given by the applicant in his business models to choose the type of model. In all the th...

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Revised guidelines relating to works contract under GST

Memorandum No. FIN-CTI-TAX-0045-2017/38535/F - (10/12/2018) - On careful consideration of the representation of the contractors visa-vis existing guidelines issued in the matter, Government have been pleased to issue following revised guidelines in supersession of the guidelines issued vide Finance Department letter dated 07.12.2017:...

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Maharashtra Goods and Services Tax (Amendment) Act, 2018

Maharashtra Act No. LXVII of 2018 - (14/12/2018) - (1) This Act may be called the Maharashtra Goods and Services Tax (Amendment) Act, 2018. (2) Section 1 shall come into force at once. (3) Save as otherwise provided, remaining sections shall come into force on such date as the Government may, by notification in the Official Gazette, appoint and diff...

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Due date of GST Annual Return / Audit extended to 31st March, 2019

Order No. 1/2018-Central Tax - (11/12/2018) - every registered person, other than an Input Service Distributor, a person paying tax under section 51 or section 52, a casual taxable person and a non-resident taxable person, shall furnish an annual return for every financial year electronically in such form and manner as may be prescribed on or b...

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Clarification on Customs & Central Excise notifications related to EOUs

Circular No. 50/2018-Customs - (06/12/2018) - EOU/EHTP/STP/BTP schemes are governed by Chapter 6 of Foreign Trade Policy (FTP), duly supported by the relevant Customs and Central Excise notifications. These notifications have now been amended in order to align them with the present Foreign Trade Policy (FTP), 2015-2020, as amended...

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Order -Delegation of power under MGST Act, 2017 to State Tax Officers

Notification No. D.C. (A&R)-2/GST/PWR/Sections/2017-18/ADM-8 - (04/12/2018) - Commissioner of State Tax, Maharashtra State is hereby pleased to delegate the powers and duties conferred or imposed upon the Commissioner and assign the functions and duties as proper officer, to all the State Tax Officers,...

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Recent Posts in "goods and services tax"

HC condone Delay in filing First Appeal under GST

M/S. Swarnashilpi Vs Assistant State Tax Officer (Kerala High Court)

M/S. Swarnashilpi Vs Assistant State Tax Officer (Kerala High Court) In W.P.(C) No.13090 of 2018, the petitioner challenged the Ext.P6 assessment order. When the matter was taken up, the learned Government Pleader pointed out that the petitioner had an efficacious alternative remedy. Then, the petitioner’s counsel submitted that un...

Read More

E-Way Bill: Common Enrolment for Registered Transporters -Points to Remember

One of the requests of the transporters was that they have to be allowed to use one registration number for updation of e-way bills throughout the country. That is, once the e-way bill generated with one of GSTIN of its company, the system should enable to update the Part-B using any of their GSTINs without […]...

Read More

5% GST payable on Earth Work constituting more than 75% of work order

In re M/s. P.K. Agarwala (GST AAR Jharkhand)

In re M/s. P.K. Agarwala (GST AAR Jharkhand) The term Earth Work has not been defined under any GST provisions. The Webster Dictionary defines Earth Work as ” an embankment or construction made of earth specially one used as a field fortification. The Collins dictionary defines Earth Work as “excavation of earth as in enginee...

Read More

GST: Deduction of Value of Land – Notional or Actual ??

Challenging the deemed value of land shall be far more difficult than what it seems. It shall be better if an alternate structure is adopted for transfer of land (e.g. separation of land owner and developer) to keep the fair value of land outside the ambit of GST....

Read More

Source Documents and Crucial Area under Annual Return GSTR-9

A. CBIC, vide Notification No. 39/2018- Central Tax dtd. 4th September, 2018 has notified the Form of Annual Return. GSTR 9 is to be filed once in a year by the registered taxpayers, including persons registered under composition levy scheme, under Section 44 of the CGST Act, 2017. B. It consists of details regarding the […]...

Read More

GST: Audit by tax Authority, Special Audit & Annual GST Audit

Section 65 – GST Audit by tax Authority (1) Authority Commissioner or any officer authorised by him (2) At place of business of the registered person or at their office (3) 15 working days prior notice (4) Audit shall be completed within a period of three months from the date of commencement of the audit […]...

Read More

GSTN started sharing Mis-match data with tax authorities

GSTN has started sharing data with tax authorities on the following: a.Mis-match between figures reported in GSTR-1 & GSTR-3B. b.Mis-match between figures reported GSTR-3B &that computed by the system in GSTR-2A. c.Taxpayers who have generated e-way bill but not filed tax returns....

Read More

Slump sale of business as going concern to related party qualifies as supply

In re Merck Life Science Private Limited (GST AAR Maharashtra)

Seller has agreed to sell, transfer, convey, assign and deliver to the applicant or to any affiliates as directed by applicant for the BPL business which would be transferred as a slump sale on going concern basis. BPL business means BP business, LS Business and PM business as going concern as outlined in 'Definitions and Interpretations'...

Read More

Co-relation between MVAT audit report and GST !

Arjuna, In the financial year 2017-18, 3 months were of Vat while the remaining 9 months were of GST. Therefore, taxpayers would be required to get their books audited as per their Turnover under both the laws. Hence while finalizing financials taxpayers might face problems. So let us discuss on the same....

Read More

No profiteering if no decrease in Tax Rate & no increase in profit Margin

Shri Shylesh Damodaran Vs Landmark Automobiles Pvt. Ltd. (National Anti-Profiteering Authority)

Shri Shylesh Damodaran Vs Landmark Automobiles Pvt. Ltd. (National Anti-Profiteering Authority) It is clear from the plain reading of Section 171 (1) that it deals with two situations one relating to the passing on the benefit of reduction in the rate of tax and the second pertaining to the passing on the benefit of the […]...

Read More

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