Posted Date : 19-Aug-2017 , 01:59:08 pm | Posted By ANAND KUMAR GUPTA

Changes in Tax Audit - Form 3CD (AY 2017-18)   I.           Changes relating to ICDS Reporting Adjustments   CBDT Notification No.88/2016 dt. 29 Sept. 2016 – ICDS Rules 2016   The CBDT has amended/ revised Form 3CD, applicable f...

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Category : Income Tax | Comments : 0 | Hits : 6014

Posted Date : 12-Aug-2017 , 06:14:34 pm | Posted By Sheetal

CA Sanjay Jain, Partner SSPJ & Co. sanjay@spjca.in, +91-8383006028     Impact of Section 142(11)(c) of Central Goods & Service Tax, 2017 & its compliance on suppliers providing Works Contracts and Builders Services   Introduction Section 142 of Central Goods and ...

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Category : GST | Comments : 0 | Hits : 13167

Posted Date : 06-Aug-2017 , 11:32:52 pm | Posted By Yash Jain

GEAR UP FOR FIRST GST RETURN (GSTR-3B) BACKGROUND: After filing of Income tax return by August 05, 2017 now comes in the period of GST Return for the very first time, Anything for the first time creates a chaos due to limited knowledge among various businessmen over how to file the returns and hence...

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Category : GST | Comments : 0 | Hits : 1593

Posted Date : 03-Aug-2017 , 09:16:52 pm | Posted By HEMANT Sharma

Law Governing Returns CGST Act 2017 RETURNS CHAPTER IX 9 Sections (Section 37 – 48) CGST Rules 2017 RETURNS CHAPTER VIII 26 Rules (Rule 59-84) Return Forms RETURNS Forms in CGST Rules 2017 31 FORMS     Sections At A Glance 37 - Furnishing Deta...

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Category : GST | Comments : 0 | Hits : 980

Posted Date : 31-Jul-2017 , 11:19:27 am | Posted By ALEXANDAR GAZI

        Preamble Transitional provision is a statutory provision that regulates a process that starts before an amendment or enactment of the statute comes into force, and ends after the amendment or enactment of the statute has come into force. Transitiona...

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Category : GST | Comments : 0 | Hits : 726

Posted Date : 17-Jul-2017 , 11:25:58 pm | Posted By ALEXANDAR GAZI

. Preamble We have compiled two notifications, in relation to Reverse Charge mechanism in the GST Acts, issued by the Central Government on the recommendation of the GST Council. One is notifying certain goods on supply of which tax shall be borne by the recipient of such goods and the other is not...

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Category : GST | Comments : 0 | Hits : 1078

Posted Date : 17-Jul-2017 , 04:39:33 pm | Posted By ALEXANDAR GAZI

Preamble Role of job workers in manufacturing sector are being more and more influential on passage of time. Big companies in manufacturing sector are getting their products done by job workers.  It will not be wrong to say that today big organizations are busy to build and retain image of th...

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Category : GST | Comments : 0 | Hits : 977

Posted Date : 13-Jul-2017 , 08:46:28 pm | Posted By Naveen

GST on maintenance bills of residential societies The Schedule of GST rates for Services as approved by GST Council in the 14th GST Council Meeting held on 19th May, 2017 has provided for various Service Tax Exemptions to be continued in GST.   Entry no. 26 of the list of exemptions provi...

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Category : GST | Comments : 0 | Hits : 1098

Posted Date : 13-Jul-2017 , 05:04:30 pm | Posted By Mahesh Bansal

The Pradhan Mantri Awas Yojna scheme of Central Government was relaunched after the Prime Minister's address to the nation on 31st Dec. 2016. Under this scheme credit linked subsidy is granted to urban households to enable them purchase or construct a residential dwelling unit for themselves. T...

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Category : Banking | Comments : 0 | Hits : 959

Posted Date : 12-Jul-2017 , 03:49:59 pm | Posted By Prabhash Choudhary

In exercise of the powers conferred by sub-sections (1) and (3) of section 50, sub-section (12) of section 54 and section 56 of the Central Goods and Services Tax Act, 2017 (12 of 2017), the Central Government, on the recommendations of the Council, hereby issued Notification No. 13/2017 &ndash...

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Category : GST | Comments : 0 | Hits : 773

Posted Date : 07-Jul-2017 , 08:34:13 pm | Posted By ALEXANDAR GAZI

Preamble It should a duty of every Government to frame commercial laws in such a manner that small and marginal members of business and professional communities can grow with minimum hindrance. On the other hand there should be a minimum blockage on flow of collection of Government Revenue. When we...

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Category : GST | Comments : 0 | Hits : 3852

Posted Date : 05-Jul-2017 , 10:18:03 pm | Posted By Shobhit Gupta

Hotel and Restaurants Services Introduction:- The Indian tourism and hospitality industry has emerged as one of the key drivers of growth among the services sector in India. Tourism in India has significant potential considering the rich cultural and historical heritage, variety in ecology, terrains...

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Category : GST | Comments : 0 | Hits : 1045

Posted Date : 02-Jul-2017 , 09:14:42 pm | Posted By ALEXANDAR GAZI

Rate of Interest under Goods and Service Tax Refer Notification Numbers – 13/2017 – Central Tax, dated 28th day of June, 2017 and 06/2017 – Integrated Tax, dated 28th day of June, 2017 Effective from – 01/07/2017 Sl. No. Particulars Rate of interest per annum 1...

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Category : GST | Comments : 0 | Hits : 656

Posted Date : 02-Jul-2017 , 06:28:40 pm | Posted By ANKIT BHUTANI

Concept of Composite Supply and Mixed Supply under GST Taxability of “Composite Supply “and “Mixed Supply” shall be dealt with as per section 8 of CGST Act, 2017. In order to understand the statutory provisions, first we have to understand the meaning of following terms alon...

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Category : Income Tax | Comments : 0 | Hits : 1548

Posted Date : 22-Jun-2017 , 07:26:05 am | Posted By May I Help You.

The CBEC, under the revenue department, has mentioned various points as part of transition provisions to address three key issues: registration, credit of taxes on goods and transition without double taxation. While clarifying on transition of credit of central taxes paid on goods in stock, the C...

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Category : Income Tax | Comments : 0 | Hits : 3716

Posted Date : 17-Jun-2017 , 05:43:54 pm | Posted By Chhavi Daga

GST Exemptions for Services under GST (Comparison with Negative List and Exempted Services covered under Service Tax)     The emergence of GST and a switch from service tax and other indirect taxes has led to a great confusion in the country. With the implementation of GST hopefully f...

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Category : GST | Comments : 0 | Hits : 8810

Posted Date : 13-Jun-2017 , 09:46:36 am | Posted By PRADEEP KUMAR RAJPUT

Tax is required to be deducted by Individual and Hindu undivided, for other assesse this provision is not applicable. Tax is required to be deducted at the rate of 5% or lower rate subject to permission under section 197 of the Act, Tax can be deducted on: Monthly basis. In the last month of...

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Category : Income Tax | Comments : 0 | Hits : 1545

Posted Date : 12-Jun-2017 , 10:01:08 pm | Posted By Vikas Modi

GST IMPACT STUDY FOR JEWELLARY SECTOR GST Council has decided 3% rate of GST on Gold under chapter 71. In the GST regime prices of Jewellery will be high as compared to in current scenario as the tax burden is more. We can understand the impact on price as under:    Due to GST the p...

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Category : GST | Comments : 1 | Hits : 3236

Posted Date : 05-Jun-2017 , 09:53:08 am | Posted By Rishi Goyal

Allowable Credit of Central Duties in respect of stock as on 01.07.17 as per Section 140(3) .   Following person are entitled to take credit 1. Not liable to register under earlier law 2. Was engaged in manufacturing exempted goods or providing exempted services 3. Availed the benefit of 26/2...

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Category : GST | Comments : 0 | Hits : 1031

Posted Date : 02-Jun-2017 , 11:27:29 pm | Posted By Nayan Jain

GET SIMPLIFIED COMPOSITION SCHEME UNDER GST CA. Kuldeep Pokharna & CA. Nayan Jain (Associate member of Team GST Cornor) There would always be a segment of taxpayers who would find it difficult to completely fulfill the compliance requirement of tax laws, may be due to their small size or nature...

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Category : GST | Comments : 0 | Hits : 999