Various representations have been received citing ambiguity caused in interpretation of the Explanation 1 under section 8 of the IGST Act 2017 in relation to condition (v) of export of services as mentioned in sub-section (6) of the section 2 of the IGST Act 2017.
Whether carrying physical copy of invoice is compulsory during movement of goods in cases where suppliers have issued invoices in the manner prescribed under rule 48 (4) of the CGST Rules, 2017 (i.e. in cases of e-invoice).
Representations have been received citing ambiguity caused in interpretation of the scope of “Intermediary services” in the GST Law. From the perusal of the definition of intermediary under IGST Act as well as under Service Tax law, it is evident that there is broadly no change in the scope of intermediary services in the GST regime vis-à-vis the Service Tax regime, except addition of supply of securities in the definition of intermediary in the GST Law.
For junior employees, the provision under para 2(i) of the Alignment Circular shall be implemented in a phased manner i.e. 10% in the 1st year and 15% in the 2nd year of implementation of the Alignment circular. In other words, junior employees shall be required to invest 10% during October 01, 2021 to September 30, 2022 and 15% during October 01, 2022 to September 30, 2023.
All IECs which have not been updated after 01.01.2005 shall be de-activated with effect from 06.10.2021. The list of such IECs may be seen at the given link ( https://www.dgft.gov.in/CP/?opt=dgft-ra )
Section 19 of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies) (BR Act, 1949 (AACS)) stipulates that no co- operative bank shall hold shares in any other co-operative society except to such extent and subject to such conditions as the Reserve Bank of India (Reserve Bank) may specify in that behalf. However, nothing contained in the section applies to –
The GST Council’s 45th meeting was held today in Lucknow under the chairmanship of the Union Finance & Corporate Affairs Minister Smt. Nirmala Sitharaman. The GST Council has inter-alia made the following recommendations relating to changes in GST rates on supply of goods and services and changes related to GST law and procedure:
MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the 17th September, 2021 G.S.R. 642(E). —In exercise of the powers conferred by sub-section (1) of section 10B of the Chartered Accountants Act, 1949 (38 of 1949) and in pursuance of rule 3 of the Chartered Accountants (Election Tribunal) Rules, 2006, the Central Government hereby makes the following […]
Applications are invited for allocation of Tariff Rate Quota (TRQ) under India-Mauritius CECPA for the year 2021-22. The last date for application shall be 31.10.2021.
In view of the continuing situation of Covid 19 pandemic, it is decided by the Authority to further extend the exemptions granted vide the above referred Circulars up to 31/03/2022.
