NEWS & UPDATES
GST Rate Notifications
49th Meeting of the GST Council 18th February, 2023
SUBJECT 49th Meeting of the GST Council 18th February, 2023 Contributed ByCA Vaibhav JainPartnervaibhavjain@mehragoelco.comAditi Khurana Article...
Whether LLP can be considered as a Body Corporate under the provisions of the GST Act, 2017 or not?
HELD THAT : LLP is treated as a “Body Corporate” for the purposes of GST Act and hence liable to pay tax on forward charge basis on supply of security services by it.
GST Advance Rulings – August 2022
SUBJECT Advance Rullings - August 2022Contributed ByCA Shweta Dubey Deputy Manager – GST firstname.lastname@example.orgCA Vaibhav...
GST applicability on liquidated damages, compensation and penalty arising out of breach of contract or other provisions of law
Agreeing to the obligation to refrain from an act or to tolerate an act or a situation, or to do an act” has been specifically declared to be a supply of service in para 5 (e) of Schedule II of CGST Act if the same constitutes a “supply” within the meaning of the Act.
Guidelines for filing/revising TRAN-1/TRAN-2 in terms of order dated 22.07.2022 & 02.09.2022 of Hon’ble Supreme Court in the case of Union of India vs. Filco Trade Centre Pvt. Ltd.
Consequently the facility for filing TRAN-1/ TRAN-2 or revising the earlier filed TRAN-1/TRAN-2 on the common portal by an aggrieved registered assessee will be made available by GSTN during the period from 01.10.2022 to 30.11.2022.
Can an application for advance ruling be rejected by the Authority on the grounds that notice was issued by the department after filing of application?
HELD THAT : Any enquiry initiated by the revenue after the date of application seeking advance ruling does not invalidate the application.
Amendment in GSTR-3B Table 4-Input Tax Credit
SUBJECT Amendment in GSTR-3B Table 4-Input Tax CreditNotification No14/2022- Central Tax dated 05th July, 2022 Circular No 170/02/2022 dated 06th...
GUIDELINES ON ISSUANCE OF SUMMONS UNDER SECTION 70 OF THE CENTRAL GOODS & SERVICES TAX ACT , 2017 -REG.
SUBJECT GUIDELINES ON ISSUANCE OF SUMMONS UNDER SECTION 70 OF THE CENTRAL GOODS & SERVICES TAX ACT , 2017 -REG.INSTRUCTION NO: 03/2022-23(GST...
GST Advance Rullings – July 2022
SUBJECTAdvance Rullings - July 2022Contributed ByCA Shweta Dubey Deputy Manager – GST email@example.comCA Vaibhav...
Clarification regarding GST rates & classification (goods) based on the recommendations of the GST Council in its 47th meeting
SUBJECT Clarification regarding GST rates & classification (goods) based on the recommendations of the GST Council in its 47th meetingCIRCULAR NO :...
Clarifications regarding applicable GST rates & exemptions on certain services
SUBJECTClarifications regarding applicable GST rates & exemptions on certain servicesCIRCULAR NO : 177/09/2022-TRUDated : August...
Can assessee seek Advance Ruling after issue of Show Cause Notice?
HELD THAT: No Advance Ruling can be sought during the pendency of proceedings before the revenue.
Can demand be raised in a Bill-to-ship-to transaction where the E-way bill mentions address of ultimate buyer as place of delivery?
HELD THAT: E-way bill mentioning the address of the ultimate buyer as place of delivery is a valid document in a Bill-to-ship-to transaction and cannot be contested by the Revenue.
Can a Recipient of Goods / Services apply Advance Ruling ?
HELD THAT : No advance ruling can be given where the applicant is the recipient.
UAE-India Trade Deal is New Phase of Globalisation
Two countries coming together for their mutual economic interests during a crisis and doing what is best for them opens a new world of possibilities...
Major Amendments by Ministry of Corporate Affairs W.E.F. April 1,2021
1. Mandatory use of Accounng Software having Audit Trail*From FY commencing on 01.04.2021, every Company shall use Accounting Software having...
DONATIONS RECEIVED BY BODY CORPORATE: TAXABLE OR NOT?
IntroductionWhile there are many resources available to define the treatment of donations received by Charitable Trusts and NGOs, there is still...
Firm’s Quality Control Policies
Independence:-The Code of Ethics for Professional Accountants, prepared by the International Federation of Accountants (IFAC) identifies types of...
4th Installment of Advance Tax – AY 2019-20
Dear All, With reference to the captioned subject, we would like to remind you that the due date for payment of 4th instalment of advance tax for...