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Tax Updates - TMI Newsletters
Home Newsletters Index Year 2018 January Day 29 - Monday
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TMI Updates - Newsletter dated: January 29, 2018

Highlights

  1. GST : Rate of Tax on Services - CGST / UTGST / SGST / IGST - Goods and Services Tax - Item wise schedule as amended

  2. GST : Services - General Exemption from GST - CGST / UTGST / SGST / IGST - Goods and Services Tax - Item wise schedule as amended

  3. GST : Rates of Tax on Goods - Schedule 1 - IGST @ 5% - CGST @ 2.5% - SGST / UTGST @ 2.5% - Goods and Services Tax - Item wise schedule as amended

  4. GST : Rates of Tax on Goods - Schedule 2 - IGST @ 12% - CGST @ 6% -SGST / UTGST @ 6% - Goods and Services Tax - Item wise schedule as amended

  5. GST : Rates of Tax on Goods - Schedule 3 - IGST @ 18% - CGST @ 9% - SGST / UTGST @ 9% - Goods and Services Tax - Item wise schedule as amended

  6. GST : Rates of Tax on Goods - Schedule 4 - IGST @ 28% - CGST @ 14% - SGST / UTGST @ 14% - Goods and Services Tax - Item wise schedule as amended

  7. GST : Rates of Tax on Goods - Schedule 5 - IGST @ 3% - CGST @ 1.5% - SGST / UTGST @ 1.5% - Goods and Services Tax - Item wise schedule as amended

  8. GST : Rates of Tax on Goods - Schedule 6 - IGST @ 0.25% - CGST @ 0.125% - SGST / UTGST @ 0.125% - Goods and Services Tax - Item wise schedule as amended

  9. GST : Goods - General Exemption from GST - CGST / UTGST / SGST / IGST - Goods and Services Tax - Item wise schedule as amended

  10. GST : Concessional GST rate of 5% on scientific and technical equipments supplied to public funded research institutions. - Notification as amended

  11. GST : Concessional rate of GST on Old and used Vehicles - Notification

  12. GST : Absolute Exemption from IGST on inter-State supplies of goods - Notification as amended

  13. GST : IGST Rate Schedule u/s 5(1) - notifying rates of IGST @ 5%, 12%, 18%, 28%, 3% and 0.25% on supply of goods. - Notification as amended

  14. GST : Special procedure with respect to payment of tax by registered person supplying service by way of construction against transfer of development right and vice versa. - Notification

  15. GST : Categories of services on which integrated tax will be payable under reverse charge mechanism (RCM) under IGST Act - Notification as amended

  16. GST : Exemptions on supply of services under IGST Act - Notification as amended

  17. GST : Rates for supply of services under IGST Act - Notification as amended

  18. Income Tax : Capital gain computation - market value of conveyance deed taken u/s 50C - if at all any suppression of sale consideration should be assumed, it should be on the basis of stamp duty valuation as at the point of time when the sale consideration was fixed. - Tri

  19. Income Tax : Eligible for deduction u/s. 10A - These amounts are incomes u/s. 41(1), if they are allowed as deduction in earlier year. Since the amounts are directly connected to the business, the excess provision reversed is certainly having a nexus with the business. - Tri

  20. Income Tax : Claim of deduction u/s 40(b) - amount surrendered in the course of survey U/s. 133A - working out the salary paid to the partner in terms of section 40(b) - The character of the income does not change dependent upon the section to be applied - claim allowed - HC

  21. Income Tax : Rectification of mistake u/s 154 - miscalculation of interest is, at best, an arithmetical error and it needs no elaborate cogitation or adjudication, long drawn or otherwise, to hold that there was an error committed. - HC

  22. Customs : Exemption from duty of Customs on import of (i) Satellites and payloads (including Ground equipments) and (ii) Scientific and technical instruments, apparatus, equipment, accessories, parts, components, spares, tools, mock ups and modules, raw material and consumables required for launch vehicles and satellites and payloads

  23. Companies Law : Companies (Appointment and Qualification of Directors) Amendment Rules, 2018 - Notification

  24. Service Tax : Valuation - The composition scheme should be available to the appellant and cannot be denied on the ground that it did not specifically exercise the option regarding opting for the works contract service - Tri

  25. Central Excise : Classification of goods - Mucosat, Nurofit, MOD Caps, Kalpadyn-MC, Nerosafe etc. - the goods were classifiable under CETA 3003.10 and not under 2108.99 - Tri


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Case Laws:

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  1. 2018 (1) TMI 1149

    In: GST


  2. 2018 (1) TMI 1139

    In: Customs


  3. 2018 (1) TMI 1138

    In: Customs


  4. 2018 (1) TMI 1157

    In: Income Tax


  5. 2018 (1) TMI 1141

    In: Income Tax


  6. 2018 (1) TMI 1142

    In: Income Tax


  7. 2018 (1) TMI 1143

    In: Income Tax


  8. 2018 (1) TMI 1144

    In: Income Tax


  9. 2018 (1) TMI 1145

    In: Income Tax


  10. 2018 (1) TMI 1146

    In: Income Tax


  11. 2018 (1) TMI 1151

    In: Income Tax


  12. 2018 (1) TMI 1152

    In: Income Tax


  13. 2018 (1) TMI 1153

    In: Income Tax


  14. 2018 (1) TMI 1154

    In: Income Tax


  15. 2018 (1) TMI 1155

    In: Income Tax


  16. 2018 (1) TMI 1156

    In: Income Tax


  17. 2018 (1) TMI 1159

    In: Income Tax


  18. 2018 (1) TMI 1150

    In: Income Tax


  19. 2018 (1) TMI 1140

    In: Income Tax


  20. 2018 (1) TMI 1148

    In: Income Tax


  21. 2018 (1) TMI 1158

    In: Income Tax


  22. 2018 (1) TMI 1147

    In: Income Tax


  23. 2018 (1) TMI 1121

    In: PMLA


  24. 2018 (1) TMI 1137

    In: Indian Laws


  25. 2018 (1) TMI 1135

    In: Service Tax


  26. 2018 (1) TMI 1134

    In: Service Tax


  27. 2018 (1) TMI 1136

    In: Service Tax


  28. 2018 (1) TMI 1133

    In: Service Tax


  29. 2018 (1) TMI 1132

    In: Service Tax


  30. 2018 (1) TMI 1131

    In: Service Tax


  31. 2018 (1) TMI 1130

    In: Service Tax


  32. 2018 (1) TMI 1129

    In: Service Tax


  33. 2018 (1) TMI 1128

    In: Central Excise


  34. 2018 (1) TMI 1127

    In: Central Excise


  35. 2018 (1) TMI 1126

    In: Central Excise


  36. 2018 (1) TMI 1123

    In: Central Excise


  37. 2018 (1) TMI 1124

    In: Central Excise


  38. 2018 (1) TMI 1125

    In: Central Excise


  39. 2018 (1) TMI 1122

    In: Central Excise


 
 
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