Infrastructure Cess

Notification: IGST at the rate of 0.1% shall be payable on inter-State supply of taxable goods by a registered supplier to a registered recipient for export subject to specified conditions.

Notification: CGST at the rate of 0.05% shall be payable on intra-State supply of taxable goods by a registered supplier to a registered recipient for export subject to specified conditions.

Notification: Addition of Krishnapatnam port for import of new vehicles

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

Notification: Revocation of the anti-dumping duties imposed on imports of Soda Ash from Russia and Turkey

Notification: Revocation of the anti-dumping duties imposed on imports of Soda Ash from China, European Union, Kenya, Pakistan, Iran, Ukraine and United States of America (USA)

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

Notification: Commencement of section 247 of Companies Act 2017

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

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

Notification: Amendment in Para 2.17 of the Foreign Trade Policy 2015-2020 on imports and Exports to Democratic People's Republic of Korea (DPRK) in terms of UNSC resolutions concerning DPRK.

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

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

Notification: Amendments in the Notification No.9/2017- Integrated Tax (Rate), dated the 28th June, 2017 - Exemptions on supply of services

Notification: Seeks to amend notification No. 8/2017-Central Tax - turnover limit for Composition Levy

Circular: Clarification related to guidelines for establishing ‘Piace of Effective Management’ (PoEM) in India-reg.

Circular: The validity period of duty credit scrips

Circular: Non-compliance of Sanitary and Phyto-Sanitary measures by Indian Exporters/Importers-reg.

Circular: Clarification on taxability of printing contracts

Circular: Clarification on movement of goods on approval basis

Circular: Authorized officer for enrollment of Goods and Services Tax Practitioner

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

News: Draft Notification of amendment of Rule 17A and Form 10A of the Income-tax Rules, 1962 – comments and suggestions thereof.

News: Auction for Sale (Re-issue) of Government Stocks

News: RBI Reference Rate for US $

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

Article: CASE LAWS IN ‘GST’

Article: LEVY OF IGST ON OCEAN FREIGHT IN RESPECT OF IMPORTED GOODS

Article: GST under RCM: When to pay (Basic level)

Article: An easy understanding of The Insolvency & Bankruptcy code 2016

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

Highlight: IGST at the rate of 0.1% shall be payable on inter-State supply of taxable goods by a registered supplier to a registered recipient for export subject to specified conditions.

Highlight: Clarification on taxability of printing contracts - GST - When to be treated as supply of goods or supply of services.

Highlight: Jurisdiction under GST - determination of rate of IGST on import of goods - HC refused to interfere into the matter.

Highlight: Income earned by the assessee, in consideration of having given rights to have play hoardings etc. are taxable as income from house property. Accordingly, deduction u/s 24(a) was indeed admissible

Highlight: Genuineness of the purchases and total cost incurred towards the construction - on the basis of such half baked facts addition cannot be made on mere presumption and surmises.

Highlight: The sole basis of addition is the statement recorded under oath of one of the partners of the assessee firm which did not exist on the date of survey cannot be the basis for making the addition

Highlight: Entitlement to benefit of Section 10A - issue raised for the first time before the tribunal - No reason to think that the Tribunal has committed an illegality by directing the Assessing Officer to decide the matter afresh duly adverting to the claim of the assessee - HC

Highlight: Admittedly, no physical examination could be carried out. However, the same cannot be the sole reason for refusal of the request of the appellant for considering the claim for converting the shipping bill and to consider their request for drawback u/s 74

Highlight: It is only the Adjudicating Authority which has jurisdiction to decide whether interest on refund claim should be granted, there was no reason for the CESTAT to have decided the issue of entitlement of the Appellant to claim interest on the refund claim - HC

Highlight: The final order passed by the (CESTAT) that the unutilised credit of Additional Excise Duty is refundable merely on the basis that there is no provision in law to deny refund, deserves to be set aside. - HC

Highlight: Transfer of CENVAT credit - change of ownership - whether permission is required from the jurisdictional authority and is it mandatory for availment of Cenvat credit? - Rule 10 of CCR - Held No

Highlight: States has no power to detain the goods in movement in the course of interstate since the central government has not notified the documents that have to be carried by a transporter of the goods in the course of interstate movement - HC

Highlight: Non-compliance of Sanitary and Phyto-Sanitary measures by Indian Exporters/Importers-reg. - Alert issued.

Highlight: Exemption u/s 11 - the assessee does not derive any profit looking at the excess of income or expenditure which is also meager, and All the fees charged by the assessee are for attainment of the ultimate object of the assessee of educational activities.

Highlight: Unexplained share capital/share premium - proof of genuine investors - the assessee has been able to prove identity of the share applicants, their creditworthiness and genuineness of the transactions in the matter.

Forum: Different GST rates for the same product due to different tariff classification

Forum: Excise Exemption Certificate

Forum: KYC to be submitted while claiming for TED Refund

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: Export tax to be @ 0.1 %

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