Instructions

GST on Real Estate: CBIC release FAQs (Part II)

F.No. 354/32/2019-TRU (14/05/2019)

A number of issues have been raised regarding the new GST rate structure notified for real estate sector effective from 01-04-2019. A compilation of Frequently Asked Questions (FAQs) containing 41 questions was issued on 7th May, 2019. Part II of the FAQ is presented below....

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Committee on Generation of Electronic Invoice through GST Portal

F. No.: 189/Generation of Invoice /GSTC/2019 (22/04/2019)

A Committee of Officers has been constituted on Generation of Electronic Invoice through GST Portal to, inter-alia to Study and examine the electronic tax invoice system of South Korea, Latin America and other relevant countries, Examine and suggest the target taxpayers and threshold limits, Examine impact on the E-way Bill, Examine and s...

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GST on Real Estate Sector- 41 FAQs

F. No. 354/32/2019-TRU (07/05/2019)

A number of issues have been raised regarding the new GST rate structure notified for real estate sector effective from 01-04-2019. A compilation of Frequently Asked Questions (FAQs) is presented below. Also Read- GST on Real Estate: CBIC release FAQs (Part II) F. No. 354/32/2019-TRU Government of India Ministry of Finance Department of R...

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Time allowed for filing of return of income by Trust claiming exemption

F.No. 173/193/2019-ITA-I (23/04/2019)

Thus, for a trust registered u/s 12AA of the Act to avail the benefit of exemption u/s 11 shall inter-alia file its return of income within the time allowed u/s 139 of the Act. Accordingly, orders u/s 143(1)(a) in those cases in which demand has been raised on this issue may please be rectified....

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Suggestions for Budget 2019-20 for changes in direct & indirect taxes

F.No.334/1/2019-TRU (22/04/2019)

In the context of formulating the proposals for the Union Budget of 2019-20, the Ministry of Finance would like to be benefited by the suggestions and views of your Association. You may like to send your suggestions for changes in the duty structure, rates and broadening of tax base on both direct and indirect taxes giving economic justif...

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CBDT Central Action Plan for first Quarter of FY 2019-20

F.NO. 380/1/2019-IT(B) (12/04/2019)

IAP: 2019-20 (For Departmental use only) MOST IMMEDIATE BY FAX F.NO. 380/1/2019-IT(B) Government of India Ministry of Finance Department of Revenue Central Board Direct Taxes North Block, New Delhi 12th April 2019 To All Pr. Chief Commissioners of Income tax & Pr. Director Generals of the attached Directorates of CBDT Subject: Centra...

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Filling up posts of Members of CBDT under Department of Revenue–reg

HRD/CM/152/Vac. Cir/2019-20/329 (12/04/2019)

Government of India/Ministry of Finance Department of Revenue/Central Board of Direct Taxes Directorate General of Income-tax (IIRD) 2nd Floor, Jawaharlal Nehru Stadium, Gate No. 1, New Delhi – 110003 HRD/CM/152/Vac. Cir/2019-20/329 Dated: 12/04/2019 To, All Pr. CCsIT/CCsIT(CCA)/DGsIT Madam/Sir, Sub: Filling up the posts of Members ...

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No further deferment of Standard on Auditing 701 (SA 701): MCA

F. No. 01/33/2013-CL.V (Pt.) (12/04/2019)

Further deferral of SA 701 cannot be permitted and it remains applicable for audits of financial statements for periods beginning on or after 1st April, 2018:‑(i) SA 701 was issued in May, 2016 with applicability for all audits of the year 2017-18 onwards. On the grounds of lack of adequate time for preparedness the said applicability d...

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EC slams CBDT for ‘Insolent’ Counter Advisory over I-T Raids

No. 76/Instructions/2019 (10/04/2019)

The Election Commission of India expresses its deep sense of anguish about the casual and trivial manner in which the advisory to be absolutely neutral, impartial and non, discriminatory has been responded to by Department of Revenue, Ministry of Finance vide letter F. No. A.50050/15/2019-Ad. I dated 08.04.19....

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CBIC identifies mismatch of Rs. 12 Lakh Crores in Service Tax & ITR

D. 0. F. No. IV (20/3/2015-Systems Pt.1 (29/03/2019)

There is a considerable gap between the turnover on account of services as per the ITR/TDS data and the value of services declared in the corresponding Service Tax returns (above threshold of Rs. 1o lakhs). For FY 2015-16 alone, the mismatch is to the tune of of approx. Rs. 12 Lakh Crores. ...

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