No IGST on Inter-State movement of rigs, tools and all goods on wheels
Posted Date : 23-Nov-2017 , 09:26:56 am | Posted By: CASANSAAR
The issue of IGST exemption on inter-state movement of various modes of conveyance, between distinct persons as specified in section 25(4) of the Central Goods and Services Tax Act, 2017, carrying goods or passengers or both; or for repairs and maintenance, [except in cases where such movement is for further supply of the same conveyance] was examined and a circular 1/1/2017-IGST dated 7.7.2017, was issued clarifying that such interstate movement shall be treated “neither as a supply of go...
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GST |
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Classification and GST rate on Terracotta idols
Posted Date : 23-Nov-2017 , 09:24:31 am | Posted By: CASANSAAR
Issue related to classification and GST rate on Terracotta idols
The GST rate on Idols made of clay is nil. (S.No. 135A of Schedule notification 2/2017 dated 28.06.2017)....
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GST |
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Auction for Sale (Re-issue) of Government Stock (GS)
Posted Date : 22-Nov-2017 , 05:58:58 pm | Posted By: Manya
Subject to the limit of ` 15000 Cr, being total notified amount, GoI will have the option to retain additional
subscription up to ` 1000 Cr against any of the above security. The sale will be subject to the terms and
conditions spelt out in this notification (called ‘Specific Notification’). The Stock will be sold through Reserve Bank
of India, Mumbai Office, Fort, Mumbai- 400 001 as per the terms and conditions specified in the General
Notification F.No.4(13)–W&M/2008,...
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RBI |
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Auction of Government of India Dated Securities
Posted Date : 22-Nov-2017 , 05:50:55 pm | Posted By: Manya
RBI/2017-18/98
Ref.No.IDMD/1243/08.02.032/2017-18
November 20, 2017
All Scheduled Commercial Banks
All State Co-operative Banks/All Scheduled Primary
(Urban) Co-operative Banks /All Financial Institutions/
All Primary Dealers....
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RBI |
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Over-the-Counter Government Securities Transaction by Foreign Portfolio Investors (FPIs)
Posted Date : 17-Nov-2017 , 08:08:17 am | Posted By: CASANSAAR
RBI/2017-18/97
FMRD.DIRD.05/14.03.007/2017-18
November 16, 2017
All market participants
Dear Sir/Madam,
Over-the-Counter Government Securities Transaction by Foreign Portfolio Investors (FPIs) – Settlement Period
In terms of RBIcircular FMRD.DIRD.06/14.03.007/2014-15 dated March 20, 2015, Foreign Portfolio Investors (FPIs) are required to settle transactions in Government Securities in the Over-the-Counter-(OTC) market on a T+2 basis.
2. As announced in paragraph 13 of t...
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RBI |
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Secondary market transactions in Government Securities – Notional Short Sale
Posted Date : 17-Nov-2017 , 08:07:27 am | Posted By: CASANSAAR
RBI/2017-18/96
FMRD.DIRD.04/14.03.007/2017-18
November 16, 2017
All market participants
Dear Sir/Madam,
Secondary market transactions in Government Securities – Notional Short Sale
In terms of RBIcirculars IDMD.PCD.21/14.03.07/2011-12 dated June 21, 2012, andIDMD.PCD.14/14.03.07/2011-12 dated December 28, 2011market participants undertaking ‘notional’ short sale are not permitted to use securities from their HTM/AFS/HFT portfolio for delivery against the short s...
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RBI |
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Agency Commission for GST receipt transactions
Posted Date : 17-Nov-2017 , 08:06:30 am | Posted By: CASANSAAR
RBI/2017-18/95
DGBA.GBD.No.1324/31.02.007/2017-18
November 16, 2017
All Agency Banks
Dear Sir / Madam
Agency Commission for GST receipt transactions
Please refer toPara 15of our Master Circular on Conduct of Government Business by Agency Banks - Payment of Agency Commission dated July 01, 2017 related to claiming of agency commission.
2. After implementation of GST framework, it was decided to modify paragraph 15 of the captioned Master Circular. The modified paragraph 15 will...
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RBI |
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Manual filing and processing of refund claims in respect of zero-rated supplies
Posted Date : 16-Nov-2017 , 02:02:46 pm | Posted By: CASANSAAR
Due to the non-availability of the refund module on the common portal, it has been decided by the competent authority, on the recommendations of the Council, that the applications/documents/forms pertaining to refund claims on account of zero-rated supplies shall be filed and processed manually till further orders. Therefore, in exercise of the powers conferred by sub-section (1) of section 168 of the Central Goods and Services Tax Act, 2017 (hereinafter referred to as ‘the CGST Act’...
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GST |
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Clarifications regarding applicability of GST and availability of ITC in respect of certain services
Posted Date : 16-Nov-2017 , 02:01:40 pm | Posted By: CASANSAAR
GST on warehousing of agricultural produce, General Insurance & aircraft engines, parts and accessories...
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GST |
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Revised GST TRAN-1 filing due date extended to 27th December, 2017
Posted Date : 16-Nov-2017 , 01:59:12 pm | Posted By: CASANSAAR
In exercise of the powers conferred by rule 120A of the Central Goods and Services Tax Rules, 2017 read with section 168 of the Central Goods and Services Tax Act, 2017,on the recommendations of the Council,and in supersession of Order No. 08/2017-GST dated 28 th October, 2017, except as respects things done or omitted to be done before such supersession, the period for submitting the declaration in FORM GST TRAN-1 is extended till 27th December, 2017....
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GST |
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GST TRAN-1 filing due date extended to 27th December, 2017
Posted Date : 16-Nov-2017 , 01:58:09 pm | Posted By: CASANSAAR
In exercise of the powers conferred by rule 117 of the Central Goods and Services Tax Rules, 2017 read with section 168 of the Central Goods and Services Tax Act, 2017, on the recommendations of the Council, and in supersession of Order No. 07/2017-GST dated 28 th October, 2017, except as respects things done or omitted to be done before such supersession, the period for submitting the declaration in FORM GST TRAN-1 is extended till 27th December, 2017....
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GST |
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Apportionment of IGST with respect to advertisement services
Posted Date : 16-Nov-2017 , 01:56:46 pm | Posted By: CASANSAAR
G.S.R. (E). – In exercise of the powers conferred by sub section (14) of section 12 read with section 22 of the Integrated Goods and Services Tax Act , 2017 (13 of 2017), the Central Government hereby makes the following rules to amend the Integrated Goods and Services Tax Rules, 2017, namely:-...
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GST |
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CBEC exempt from payment of tax on advances received in case of supply of goods
Posted Date : 16-Nov-2017 , 01:53:57 pm | 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) and in supercession of notification No. 40/2017-Central Tax, dated the 13th October, 2017, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R.1254(E), dated the 13th October, 2017, except as respects things done or omitted to be done before such supercess...
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GST |
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Exemption of suppliers of services through an e-commerce platform from obtaining compulsory registration
Posted Date : 16-Nov-2017 , 01:52:11 pm | Posted By: CASANSAAR
G.S.R. …..(E).— In exercise of the powers conferred by sub-section (2) of section 23 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 specifies the persons making supplies of services, other than supplies specified under subsection (5) of section 9 of the said Act through an electronic commerce operator who is required to collect tax at sour...
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GST |
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CBEC notified revised late fee payable for delayed filing of return in GSTR-3B
Posted Date : 16-Nov-2017 , 01:51:06 pm | 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) (hereafter in this notification referred to as the said Act), the Central Government, on the recommendations of the Council, hereby waives the amount of late fee payable by any registered person for failure to furnish the return in FORM GSTR- 3B for the month of October, 2017 onwards by the due date under section 47 of the said Act, which is in excess of an a...
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GST |
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CBEC extends due date to file GST-ITC-04 to 31.12.2017
Posted Date : 16-Nov-2017 , 01:49:44 pm | 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, the Central Government hereby makes the following amendments in 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. ...
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CBEC extends time limit to file GSTR-6 for July, 2017 to 31.12.2017
Posted Date : 16-Nov-2017 , 01:48:53 pm | Posted By: CASANSAAR
G.S.R. (E):— In exercise of the powers conferred by sub-section (6) of section 39 read with section 168 of the Central Goods and Services Tax Act, 2017 (12 of 2017) (hereinafter referred to as the said Act) and in supersession of notification No. 43/2017-Central Tax, dated the 13th October, 2017, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R. 1257 (E), dated the 13th October, 2017, except as respects things done or omitted to be don...
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GST |
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CBEC notified Time to furnish GSTR-5A for the months of July to October, 2017
Posted Date : 16-Nov-2017 , 01:47:48 pm | Posted By: CASANSAAR
G.S.R. (E):— In exercise of the powers conferred by sub-section (6) of section 39 read with section 168 of the Central Goods and Services Tax Act, 2017 (12 of 2017) and section 20 of the Integrated Goods and Services Tax Act, 2017 (13 of 2017), and in supersession of notification No. 42/2017-Central Tax, dated the 13th October, 2017, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 1256 (E), dated the 13th October, 2017, except as re...
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GST |
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CBEC extends time limit for furnishing GSTR-5 for July to October, 2017
Posted Date : 16-Nov-2017 , 01:46:38 pm | Posted By: CASANSAAR
G.S.R. (E):- —In exercise of the powers conferred by sub-section (6) of section 39 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 hereby extends the time limit for furnishing the return by a non-resident taxable person, in FORM GSTR-5, under subsection (5) of section 39 of the said Act read with rule 63 of the Central Goods and Services Tax Rules, 2017 for the months of July, ...
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GST |
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GSTR-4 for quarter July to Sep, 2017 can be submitted till 24.12.2017
Posted Date : 16-Nov-2017 , 01:45:37 pm | Posted By: CASANSAAR
G.S.R. (E):- In exercise of the powers conferred by sub-section (6) of section 39 read with section 168 of the Central Goods and Services Tax Act, 2017 (12 of 2017), the Central Government hereby makes the following amendments in the notification of the Government of India in the Ministry of Finance, Department of Revenue No. 41/2017-Central Tax, dated the 13th October, 2017, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R. 1255(E), dated t...
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GST |
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Due dates to fuirnish GSTR-1 for taxpayers with turnover exceeding Rs. 1.5 Cr
Posted Date : 16-Nov-2017 , 01:44:25 pm | Posted By: CASANSAAR
G.S.R. (E):— In exercise of the powers conferred by the second proviso to subsection (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 Act) and in supersession of notification No. 30/2017 – Central Tax dated the 11th September, 2017, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R 1144 (E), dated the 11th September, 2017, excep...
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GST |
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Quarterly GSTR-1 for taxpayers with aggregate turnover of up to Rs. 1.5 Cr
Posted Date : 16-Nov-2017 , 01:43:18 pm | 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, 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 detailed below for furnishing the details of outward supply of goods or services ...
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GST |
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CBEC notifie mandates Monthly Tax Payment & filing of Form GSTR-3B till March, 2018
Posted Date : 16-Nov-2017 , 01:40:11 pm | 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 Commissioner, on the recommendations of the Council, hereby specifies that the return in FORM GSTR-3B for the month as specified in column (2) of the Table shall be furnished electronically through the common portal, on or before the last date as specified in the correspo...
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GST |
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Central Goods and Services Tax (Twelfth Amendment) Rules, 2017
Posted Date : 16-Nov-2017 , 01:38:34 pm | Posted By: CASANSAAR
G.S.R……(E):- In exercise of the powers conferred by section 164 of the Central Goods and Services Tax Act, 2017 (12 of 2017), the Central Government hereby makes the following rules further to amend the Central Goods and Services Tax Rules, 2017, namely:-...
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GST |
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Revised Notification to specify UT rates for restaurants and job work on handicraft goods
Posted Date : 15-Nov-2017 , 09:39:53 am | Posted By: CASANSAAR
G.S.R......(E).- In exercise of the powers conferred by sub-section (1) of section 7, subsection (1) of section 8 and clause (iv) and clause (v) of section 21 of the Union Territory Goods and Services Tax Act, 2017 (14 of 2017) read with sub-section (5) of section 15 and subsection (1) of section 16 of the Central Goods and Services Tax Act, 2017 (12 of 2017), the Central Government, on the recommendations of the Council, and on being satisfied that it is necessary in the public interest so to d...
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GST |
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Revised UTT Notification to extend exemption to admission to protected monument
Posted Date : 15-Nov-2017 , 09:23:21 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 further amendments in the notification of the Government of India, in the Ministry of Finance (Department of Revenue), No.12/2017- Union Territory Tax (Rate), dated the 28th June, 20...
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GST |
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Notification for concessional UT rate of 2.5% on scientific and technical equipments
Posted Date : 15-Nov-2017 , 09:22:05 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) ( hereafter in this notification referred to as “the said Act”), the Central Government, on being satisfied that it is necessary in the public interest so to do , on the recommendations of the Council, hereby exempts the goods specified in column (3) of the Table below, from the so much of the union territory tax leviable thereon...
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GST |
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Revised UTT Notification regarding restriction of ITC on certain fabrics
Posted Date : 15-Nov-2017 , 09:21:08 am | Posted By: CASANSAAR
G.S.R. (E).- In exercise of the powers conferred by clause (ii) of the proviso to sub-section (3) of section 54 of the Central Goods and Services Tax Act, 2017 (12 of 2017) read with section 21 of the Union Territory Goods and Services Tax Act, 2017 (14 of 2017) the Central Government, on the recommendations of the Council, hereby makes the following amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No.5/2017-Union Territory Tax (Rate),...
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GST |
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Revised reverse charge on raw cotton (UTT) to give effect to GST council decisions notified
Posted Date : 15-Nov-2017 , 09:19:22 am | Posted By: CASANSAAR
G.S.R. (E).- In exercise of the powers conferred by sub-section (3) of section 7 of the Union Territory Goods and Services Tax Act, 2017 (14 of 2017), the Central Government, on the recommendations of the Council, hereby makes the following amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No.4/2017- Union Territory Tax (Rate), dated the 28th June, 2017, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (...
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Revised UT Rates (Exemtions) to give effect to GST council decisions notified
Posted Date : 15-Nov-2017 , 09:17:25 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, being satisfied that it is necessary in the public interest so to do, on the recommendations of the Council, hereby makes the following amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No.2/2017-Union territory Tax (Rate), dated the 28th June, 2017, published in t...
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