Penalty u/s 271(1)(a) - Unexplained bank deposit / credits - Procedural defects and irregularities which are curable should not be allowed to defeat substantive rights or to cause injustice. Procedure a hand maiden to justice should never be made a tool to deny justice or perpetuate injustice by any oppressive or punitive use - no penalty

Circular: Amendments in Chapter-4 of Hand Book of Procedures 2015-2020, related to clubbing of Advance Authorisations, extension of Export Obligation period and regularisation of bonafide default in the cases where Authorisations were issued for import of drugs from unregistered sources with pre import condition- reg

Notification: Evidences required to be produced by the supplier of deemed export supplies for claiming refund under rule 89(2)(g) of the CGST rules, 2017

Notification: Exchange Rates Notification No.96/2017-Custom(NT) dated 18.10.2017

Notification: Notified supplies, when the supply of goods shall be treated as deemed export under GST e.g. supplies against Advance Authorisation, to EOU, under EPCG scheme etc

Notification: Reduced rate of GST on Food preparations put up in unit containers and intended for free distribution to economically weaker sections of the society under a programme duly approved by the Central Government or any State Government.

Notification: Reduced rate of IGST on Food preparations put up in unit containers and intended for free distribution to economically weaker sections of the society under a programme duly approved by the Central Government or any State Government.

Notification: Reduced rate of UTGST on Food preparations put up in unit containers and intended for free distribution to economically weaker sections of the society under a programme duly approved by the Central Government or any State Government.

Notification: Assigning Jurisdictional Power to Commissioner Rank Officers in a zone for the purpose of deciding appeals pending as on 30th June 2017

Circular: Reassignment of cases pending as on 30-6-2017 with the Commissioner of Central Excise and Service Tax (Appeals)

Notification: seeks to impose definitive anti-dumping duty on the imports of " Color Coated/ Pre-Painted flat products of alloy or non-alloy steel " originating in or exported from China PR and European Union.

Notification: Prevention of Money-laundering (Maintenance of Records) Fifth Amendment Rules, 2017

Circular: Transfer of Shares to IEPF Authority

Notification: Amendments in Foreign Trade Policy 2015-20 -reg.

Circular: Composition Scheme - the Central Goods and Services Tax (Removal of Difficulties) Order, 2017

Circular: Composition Scheme - the Union Territory Goods and Services Tax (Removal of Difficulties) Order, 2017

Notification: Persons making inter-State supplies of taxable services shall be exempted from registration u/s 23(2) where turnover is not exceeding ₹ 20 Lacs

Notification: Seeks to cross-empower State Tax officers for processing and grant of refund under IGST

News: Sovereign Gold Bond Scheme 2017 -18– Issue Price for the next subscription period i.e. October 23-25, 2017 would be ₹ 2,971– per gram with Settlement on October 30, 2017.

News: Ministry of Corporate Affairs issues Notification for commencement of Section 247 of the Companies Act, 2013 relating to Valuation by Registered Valuers

News: Exchange Rate of Foreign Currency Relating To Imported and Export Goods Notified

News: Comments and Suggestions Invited for Amendment of Income-tax Rules wrt Registration of Charitable or Religious Trusts

News: RBI Reference Rate for US $

News: CIPAM-DIPP Launches Logo and Tagline Contest for Geographical Indications of India

News: DIPP eases mechanism for processing FDI proposals

News: CBEC to Redistribute Cases in Jurisdictions to Reduce Pendency of Cases With Commissioners (Appeal)

News: Reformative measures like introduction of GST will improve economy: Vice President

News: RBI Reference Rate for US $

Article: INSOLVENCY AND BANKRUPTCY CODE, 2016 -A CRITICAL ANALYSIS

Article: CBEC ISSUED 41 NOTIFICATIONS IN A DAY TO GIVE EFFECT TO GST COUNCIL DECISIONS IN 22ND MEET

Article: GST- meaning of ‘services’ seems very restricted due to primary meaning being ‘anything’

Article: RECENT CHANGES IN ‘GST’

Article: Notice to non-filers of GSTR returns – GSTR-3A

Highlight: Application for Refund - FORM-GST-RFD-01 as amended

Highlight: In the case of Deemed Export, either the recipient of goods or the supplier of goods (subject to conditions) may apply for for refund of tax (GST)

Highlight: Commissioner empowered to extent the time for export of goods under GST after the date of issue of invoice for export, beyond three months.

Highlight: Commencement of section 247 of Companies Act 2017 - Notification

Highlight: Companies (Registered Valuers and Valuation) Rules, 2017 - Notification

Highlight: Ministry of Corporate Affairs issues Notification for commencement of Section 247 of the Companies Act, 2013 relating to Valuation by Registered Valuers

Highlight: Comments and Suggestions Invited for Amendment of Income-tax Rules wrt Registration of Charitable or Religious Trusts

Highlight: Central Goods and Services Tax (Tenth Amendment) Rules, 2017 - Notification

Highlight: Reassignment of cases pending as on 30-6-2017 with the Commissioner of Central Excise and Service Tax (Appeals) - Circular

Highlight: Since the password has not been issued to the petitioner the petitioner is unable to complete the process of migration to GST - concerned authority directed to allow the petitioner to complete migration to GST - HC

Highlight: Levy of VAT or GST - case of petitioner is that the works contract for which the agreements were executed prior to 01.07.2017, GST cannot be imposed and 2% VAT alone is applicable - Commissioner directed to consider the representation - HC

Highlight: Notified supplies, when the supply of goods shall be treated as deemed export under GST e.g. supplies against Advance Authorisation, to EOU, under EPCG scheme etc.

Highlight: Form and manner of submission of quarterly return by the composition supplier - Rule 62 of GST Rules, 2017 as amended.

Highlight: A banking company or a financial institution or NBFC are allowed to issue single consolidated tax invoice for the supply of services made during a month at the end of the month under GST

Highlight: Single Invoice-cum-bill of supply for supply of taxable as well as exempted goods or services to an unregistered person under GST.

Forum: Time of Supply and Suspension of RCM

Forum: Invoice Number Of Supplies From Unregistered Suppliers GSTR-2(4B)

Forum: Lucky draw winning taxes regardings

Forum: Penalty for Late Filing of GST return

Forum: Adding invoices in GSTR-1

Forum: Change in constitution of Auditors Firm and Signing of Auditors Report & Financial Statements

Forum: Purchase from URD for Exports

Forum: Query regarding share transfer at nil value on Section 56(2)(viib) ,Income Tax

TMI Note: Change in accounting policy - When is to be changed - What should be the basis for change in accounting policy

TMI Note: Accrual of income - Scope of ICDS - If there is conflict between Section 5 and Section 145, which would prevail

TMI Note: ICDS - Accrual basis of Accounting - Accrual of income versus Receipt of income

TMI Note: Bad debts out of income recognised on the basis of ICDS but not yet recognised in books of account

TMI Note: Applicability of ICDS for the purpose of disallowance u/s 40(a)(i) and 40(a)(ia)

TMI Note: Applicability of ICDS on TDS

TMI Note: Maintenance of Books of accounts for the purpose of ICDS