E-way bill in case of storing of goods in godown of transporter
Posted Date : 05-Sep-2018 , 09:17:38 am | Posted By: CASANSAAR
Various representations have been received on the matter pertaining to the textile sector and problems being faced by weavers & artisans regarding storage of their goods in the warehouse of the transporter. It has been stated that textile traders use transporters’ godown for storage of their goods due to their weak financial conditions. The transporters providing such warehousing facility will have to get themselves registered under GST and maintain detailed records in cases where the ...
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GST |
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Processing of GST refund applications of Canteen Stores Department
Posted Date : 05-Sep-2018 , 09:16:10 am | Posted By: CASANSAAR
Vide notifications No. 6/2017-Central Tax (Rate), No. 6/2017-Integrated Tax (Rate) and No. 6/2017-Union territory Tax (Rate), all dated 28th June 2017, the Central Government has specified the Canteen Stores Department (CSD for short), under the Ministry of Defence, as a person who shall be entitled to claim a refund of fifty per cent. of the applicable central tax, integrated tax and Union territory tax paid by the CSD on all inward supplies of goods received by the CSD for the purposes of subs...
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GST |
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CBIC clarification on 7 GST Refund Related Issues
Posted Date : 05-Sep-2018 , 09:15:10 am | Posted By: CASANSAAR
Various representations have been received seeking clarification on issues relating to refund. In order to clarify these issues and to ensure uniformity in the implementation of the provisions of law across the field formations, the Board, in exercise of its powers conferred by section 168 (1) of the Central Goods and Services Tax Act, 2017 (hereinafter referred to as “CGST Act”), hereby clarifies the issues as detailed hereunder:...
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GST |
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Recovery of arrears of wrongly availed CENVAT credit & inadmissible transitional credit
Posted Date : 05-Sep-2018 , 09:14:07 am | Posted By: CASANSAAR
Various representations have been received seeking clarification on the process of recovery of arrears of wrongly availed CENVAT credit under the existing law and CENVAT credit wrongly carried forward as transitional credit in the GST regime. In order to ensure uniformity in the implementation of the provisions of the law across the field formations, the Board, in exercise of its powers conferred under section 168 (1) of the Central Goods and Services Tax Act, 2017 (hereinafter referred to as th...
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GST |
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Principal-agent relationship in context of Schedule I of CGST Act
Posted Date : 05-Sep-2018 , 09:13:03 am | Posted By: CASANSAAR
In terms of Schedule I of the Central Goods and Services Tax Act, 2017 (hereinafter referred to as the “CGST Act”), the supply of goods by an agent on behalf of the principal without consideration has been deemed to be a supply. In this connection, various representations have been received regarding the scope and ambit of the principal-agent relationship under GST. In order to clarify some of the issues and to ensure uniformity in the implementation of the provisions of the law acro...
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GST |
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CBIC extends time limit for making declaration in FORM GST ITC-01
Posted Date : 05-Sep-2018 , 09:10:25 am | Posted By: CASANSAAR
G.S.R. …..(E).- In pursuance of section 168 of the Central Goods and Services Tax Act, 2017 (12 of 2017) and clause (b) of sub-rule (1) of rule 40 of the Central Goods and Services Tax Rules, 2017, the Commissioner, hereby extends the time limit for making the declaration in FORM GST ITC-01 of the said rules, by registered persons who have filed the application in FORM GST-CMP-04 of the said rules between the 2 nd day of March, 2018 and the 31st day of March, 2018, for a period of thirty ...
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GST |
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CBIC waives late fee for specified classes of taxpayers for Form GSTR-3B, GSTR-4 & GSTR-6
Posted Date : 05-Sep-2018 , 09:08:20 am | Posted By: CASANSAAR
G.S.R. (E).- In exercise of the powers conferred by section 128 of the Central Goods and Services Tax Act, 2017 (12 of 2017), the Central Government, on the recommendations of the Council, hereby waives the late fee paid under section 47 of the said Act, by the following classes of taxpayers:-...
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CBIC extends time limit for making declaration in FORM GST ITC-04
Posted Date : 05-Sep-2018 , 09:07:16 am | Posted By: CASANSAAR
G.S.R… (E).- In pursuance of section 168 of the Central Goods and Services Tax Act, 2017 (12 of 2017) and sub-rule (3) of rule 45 of the Central Goods and Services Tax Rules, 2017, and in supercession of the notification of the Government of India in the Ministry of Finance, Department of Revenue No. 53/2017-Central Tax, dated the 28th October, 2017, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R. 1346 (E), dated the 28th October, 2...
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GST |
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Annual GST Return Forms notified by CBIC
Posted Date : 05-Sep-2018 , 09:04:47 am | Posted By: CASANSAAR
CBIC notified Annual return of GST for the period 01.07.2017 to 31.03.2018 which is required to be filed along with statutory GST audit report till 31.12.2018 vide Notification No. 39/2018 – Central Tax Dated 4th September, 2018....
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GST |
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Govt Notifies Rule 11UAB for determination of fair market value for inventory
Posted Date : 01-Sep-2018 , 07:57:16 am | Posted By: CASANSAAR
MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
NOTIFICATION No. 42/2018
New Delhi, the 30th August, 2018
INCOME-TAX
S.O. 4213(E).—In exercise of the powers conferred by clause (via) of section 28 read with section 295 of the Income-tax Act, 1961 (43 of 1961), hereinafter referred to as the Income-tax Act, the Central Government hereby makes the following rules further to amend the Income-tax Rules, 1962, namely:‑
1. (1) These rules may be called th...
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CBDT |
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Rupee Drawing Arrangement – Remittance to the Chief Minister’s Distress Relief Fund- Kerala
Posted Date : 30-Aug-2018 , 12:36:54 pm | Posted By: CASANSAAR
RBI/2018-19/41
A. P. (DIR Series) Circular No. 5
August 29, 2018
To,
All Authorised Dealer Category - I Banks
Madam / Sir,
Rupee Drawing Arrangement – Remittance to the Chief Minister’s Distress Relief Fund- Kerala
Attention of Authorized Dealer Category – I (AD Cat – I) banks is invited to para 4 of theMaster Direction No.2/2015-16 dated January 1, 2016on Opening and Maintenance of Rupee/Foreign Currency Vostro Accounts of Non-resident Exchange Houses,...
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FEMA |
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MCA extends due date of DIR 3 KYC to 15th September 2018
Posted Date : 23-Aug-2018 , 08:33:59 am | Posted By: CASANSAAR
MCA wide notification dated 21st August 2018 has extended the last date of filing DIR -3KYC without any filing fees upto 15/09/2018
Government of India
MINISTRY OF CORPORATE AFFAIRS
Notification
New Delhi, 21st August,2018
G.S.R. (E).-In exercise of the powers conferred under second proviso to sub-section (1), sub-section (4), clause () of sub-section (6) of section 149, sub-section (3) and (4) of section 150, section 151, sub-section (5) of section 152,section 153, Section 15...
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Companies Act |
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Due Date for filing GSTR 3B July 2018 extended to 24th Aug, 2018
Posted Date : 22-Aug-2018 , 09:31:35 am | Posted By: CASANSAAR
G.S.R…(E).- In exercise of the powers conferred by section 168 of the Central Goods and Services Tax Act, 2017 (12 of 2017) read with sub-rule (5) of rule 61 of the Central Goods and Services Tax Rules, 2017, the Central Government, on the recommendations of the Council, hereby makes the following amendment in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 34/2018- Central Tax, dated the 10th August, 2018, published in the Gazette of In...
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GST |
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Constitution of Standing Committee under rule 97(4) of CGST Rules, 2017
Posted Date : 21-Aug-2018 , 11:54:15 am | Posted By: CASANSAAR
In excise of the powers conferred by sub-rule (4) of rule 97 of Central Goods and Services Tax Rules, 2017 read with Section 168 of Central Goods and Services Tax Act, 2017 the Government hereby constitutes the requisite Standing Committee....
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GST |
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FORM GSTR-3B to continue till March, 2019- CBIC notifies due date
Posted Date : 21-Aug-2018 , 11:49:15 am | Posted By: CASANSAAR
G.S.R…(E).- In exercise of the powers conferred by section 168 of the Central Goods and Services Tax Act, 2017 (12 of 2017) (hereafter in this notification referred to as the said Act) read with sub-rule (5) of rule 61 of the Central Goods and Services Tax Rules, 2017 (hereafter in this notification referred to as the said rules), the Commissioner, on the recommendations of the Council, hereby specifies that the return in FORM GSTR-3B of the said rules for each of the months from July, 20...
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GST |
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Due dates to file GSTR-1 -Turnover upto Rs.1.5 Crore- July 2018 to March 2019
Posted Date : 21-Aug-2018 , 11:46:07 am | Posted By: CASANSAAR
G.S.R……(E).— In exercise of the powers conferred by section 148 of the Central Goods and Services Tax Act, 2017 (12 of 2017) (hereafter in this notification referred to as the said Act), the Central Government, on the recommendations of the Council, hereby notifies the registered persons having aggregate turnover of up to 1.5 crore rupees in the preceding financial year or the current financial year, as the class of registered persons who shall follow the special procedure as...
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GST |
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Due dates to file Form GSTR-1 -Turnover more than 1.5 Crore- July 2018 to March 2019
Posted Date : 21-Aug-2018 , 11:28:49 am | Posted By: CASANSAAR
G.S.R……(E). - In exercise of the powers conferred by the second proviso to sub-section (1) of section 37 read with section 168 of the Central Goods and Services Tax Act, 2017 (12 of 2017) (hereafter in this notification referred to as the said Act), the Commissioner, on the recommendations of the Council, hereby extends the time limit for furnishing the details of outward supplies in FORM GSTR-1 of the Central Goods and Services Tax Rules, 2017, by such class of registered persons ...
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GST |
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GST on services provided by Industrial Training Institutes (ITI)
Posted Date : 21-Aug-2018 , 11:24:58 am | Posted By: CASANSAAR
Representations have been received requesting to clarify the following:
(a) Whether GST is payable on vocational training provided by private ITIs in designated trades and in other than designated trades.
(b) Whether GST is payable on the service, provided by a private Industrial Training Institute for conduct of examination against consideration in the form of entrance fee and also on the services relating to admission to or conduct of examination....
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GST |
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5% GST on fertilizers supplied for use in manufacture of other fertilizers
Posted Date : 21-Aug-2018 , 11:14:47 am | Posted By: CASANSAAR
References have been received regarding a clarification as to whether simple fertilizers, such as MOP (Murate of Potash) classified under Chapter 31,and supplied for use in manufacturing of a complex fertilizer, are entitled to the concessional GST rate of 5%, as applicable in general to fertilizers (i.e. fertilizers which are cleared to be used as fertilizers)....
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GST |
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GST on petroleum gases retained for manufacture of petrochemical & chemical products
Posted Date : 21-Aug-2018 , 11:09:02 am | Posted By: CASANSAAR
References have been received regarding the applicability of GST on the petroleum gases retained for the manufacture of petrochemical and chemical products during the course of continuous supply, such as Methyl Ethyl Ketone (MEK) feedstock, petroleum gases etc...
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GST |
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Clarification regarding applicability of GST rates on various goods & services
Posted Date : 21-Aug-2018 , 11:07:08 am | Posted By: CASANSAAR
Clarification regarding applicability of GST on various goods and services–reg.
Representations have been received seeking clarification in respect of applicable GST rates on the following items:...
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GST |
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CBDT defers Clause 30C and 44 of Revised Tax Audit Report Form 3CD upto 31 March 2019
Posted Date : 17-Aug-2018 , 03:43:41 pm | Posted By: CASANSAAR
The CBDT has issued a Circular defers implementation of Clause 30C and Clause 44 of the Revised Tax audit Report Form 3CD upto 31 March 2019, earlier notified on 20 July 2018 to be applicable from 20 Aug. 2018 in view of representations from stakeholders, like ICAI, etc. Accordingly, this partial deferment of amendments will not affect other changes made in Form 3CD applicable from 20 Aug. 2018.
Order under section 119 of the Income-tax Act, 1961
Section 44AB of the Income-tax Act, 196...
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CBDT |
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CBDT exempts income earned by Insolvency and Bankruptcy Board
Posted Date : 17-Aug-2018 , 08:51:16 am | Posted By: CASANSAAR
MINISTRY OF FINANCE
(Department of Revenue)
(Cental Board of Direct Taxes)
NOTIFICATION NO. 38/2018
New Delhi, the 10th August, 2018
S.O. 3959(E).—In exercise of the powers conferred by clause (46) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies for the purposes of the said clause, ‘Insolvency and Bankruptcy Board of India’, New Delhi, a board established by the Central Government, in respect of the following specified...
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CBDT |
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Governance of Insolvency Professional Agencies and Information Utilities
Posted Date : 16-Aug-2018 , 08:33:58 am | Posted By: CASANSAAR
The institutional infrastructure under the Insolvency and Bankruptcy Code, 2016 (Code) envisages four key pillars, namely, the Adjudicating Authority (National Company Law Tribunal and Debt Recovery Tribunal), the Insolvency and Bankruptcy Board of India (IBBI), the Information Utilities (IUs), and the Insolvency Professionals (IPs). An IP plays a central role in resolution, liquidation and bankruptcy processes of companies, LLPs, partnership firms and individuals. The Bankruptcy Law Reforms Com...
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Corporate Laws |
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No RCM on payment of tax U/s. 7(4) of UTGST Act, 2017 till 30.09.2019
Posted Date : 08-Aug-2018 , 07:49:17 am | Posted By: CASANSAAR
G.S.R. (E).- In exercise of the powers conferred by sub-section (1) of section 8 of the Union Territory Goods and Services Tax Act, 2017 (14 of 2017), the Central Government, on being satisfied that it is necessary in the public interest so to do, on the recommendations of the Council, hereby makes the following amendment in the notification of the Government of India, in the Ministry of Finance (Department of Revenue), No. 8/2017 –Union Territory Tax (Rate), dated the 28th June, 2017, pub...
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GST |
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No RCM on payment of tax U/s. 5(4) of IGST Act, 2017 till 30.09.2019
Posted Date : 08-Aug-2018 , 07:47:55 am | Posted By: CASANSAAR
G.S.R. (E).- In exercise of the powers conferred by sub-section (1) of section 6 of the Integrated Goods and Services Tax Act, 2017 (13 of 2017), the Central Government, on being satisfied that it is necessary in the public interest so to do, on the recommendations of the Council, hereby makes the following amendment in the notification of the Government of India, in the Ministry of Finance (Department of Revenue), No. 32/2017- Integrated Tax (Rate), dated the 13th October, 2017, published in th...
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GST |
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RCM for procurement from unregistered dealer’s deferred till 30.09.2019
Posted Date : 08-Aug-2018 , 07:45:14 am | Posted By: CASANSAAR
G.S.R. (E).- In exercise of the powers conferred by sub-section (1) of section 11 of the Central Goods and Services Tax Act, 2017 (12 of 2017), the Central Government, on being satisfied that it is necessary in the public interest so to do, on the recommendations of the Council, hereby makes the following further amendment in the notification of the Government of India, in the Ministry of Finance (Department of Revenue), No. 8/2017 – Central Tax (Rate), dated the 28th June, 2017, published...
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GST |
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Special procedure for completing GST migration of taxpayers
Posted Date : 08-Aug-2018 , 07:43:33 am | Posted By: CASANSAAR
G.S.R……(E).- In exercise of the powers conferred by section 148 of the Central Goods and Services Tax Act, 2017 (12 of 2017), the Central Government, on the recommendations of the Council, hereby specifies the persons who did not file the complete FORM GST REG26 of the Central Goods and Services Tax Rules, 2017 but received only a Provisional Identification Number (PID) (hereinafter referred to as “such taxpayers”) till the 31st December, 2017 may now apply for Goods an...
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GST |
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Seeks to lay down the special procedure for completing migration of taxpayers who received provisional IDs but could not complete the migration process.
Posted Date : 07-Aug-2018 , 12:50:50 pm | Posted By: AKANKSHA MISHRA
G.S.R……(E).- In exercise of the powers conferred by section 148 of the Central Goods and Services Tax Act, 2017 (12 of 2017), the Central Government, on the recommendations of the Council, hereby specifies the persons who did not file the complete FORM GST REG26 of the Central Goods and Services Tax Rules, 2017 but received only a Provisional Identification Number (PID) (hereinafter referred to as “such taxpayers”) till the 31st December, 2017 may now apply for Goods an...
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Custom |
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Maintenance of CRR/SLR on Foreign Currency Assets/Liabilities - RBI
Posted Date : 03-Aug-2018 , 08:00:12 am | Posted By: CASANSAAR
RBI/2018-19/34
DBR.Ret.BC.No.01/12.01.001/2018-19
August 02, 2018
The Chairperson / CEOs of all Scheduled and Non- Scheduled Banks
Dear Sir/Madam,
Maintenance of CRR/SLR on Foreign Currency Assets/Liabilities– Reference rate for INR/USD and exchange rate of other major currencies.
Please refer to ourcircular DBOD.No.Ret.BC.113/12.01.001/2011-12 dated June 29, 2012on Maintenance of CRR on FCNR(...
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RBI |
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