Articles by Bimal Jain

View Full Profile

The CBIC has issued GST audit Manual 2019 after approval by the Board. The Board vide its letter F. No. 221/03/2013 - CX-6 dated August 30, 2018 requested to Directorate General to prepare a manual on Audit in GST for the consideration of the Board. The said GST audit manual co..

Posted in GST  1 comments |   4375 Views

The legislative changes would come into effect only upon the enactment of the Finance (No. 2) Bill, 2019. Current provisions Proposed provisions Effect Section - 41 (Delivery of departure manifest or export manifest or e..

Posted in Union Budget |   363 Views

A dispute resolution cum amnesty scheme called the Sabka Vishwas Legacy Dispute Resolution Scheme is being introduced for resolution and settlement of legacy cases of Central Excise and Service Tax. The proposed Scheme covers past disputes of taxes which have got subsumed in GST namely Central Ex..

Posted in Union Budget  1 comments |   671 Views

Goods and Services Tax Amendments carried out through the Finance (No. 2) Bill, 2019 come into effect on the date of its enactment, unless otherwise specified. Amendments carried out in the Finance Bill, 2019 will come into effect from the date when the same will be notified, concurrently w..

Posted in Union Budget |   703 Views

Ms. Nirmala Sitharaman today presented the full budget of 1st Year of 2nd term of Modi Government amid subdued economic growth and challenging fiscal situation. Taking into consideration, the need of time, with a vision to become $5 trillion economy by 2025, various sectors including socia..

Posted in Union Budget  1 comments |   529 Views

In Union Budget 2019-20, the Finance Minister has introduced the Finance (No.2) Bill, 2019 in Lok Sabha on July 05, 2019. The following are the gist of the notifications which makes amendment in Customs and Central Excise with effect from July 06, 2019 unless otherwise stated. To prescribe effective..

Posted in Union Budget  2 comments |   1193 Views

Amendments in CGST Rules, 2017

  Bimal Jain    03 July 2019 at 11:26

The Central Board of Excise and Customs vide Notification No. 31/2019-Central Tax dated June 28, 2019, has made various amendments in Central Goods and Services Tax Rules,2017 ("CGST Rules") which are prospectively effective from the date of notification. Following are the gist of the..

Posted in GST |   543 Views

Authority for Advance Ruling, Maharashtra vide GST-ARA, Application No. 114 dated January 25, 2019 Facts: M/s. Aarel Import Export Private Ltd.('the Applicant') is an importer and exporter & trader of products such as Black Matpe, Toor Whole, Coke, Agarbatti, etc. The Applica..

Posted in GST  1 comments |   277 Views

The Larger Bench (LB) of Bombay HC rules in favour of Revenue, holds that cash refund u/s 11B of the Central Excise Act, 1944 ('the Excise Act') is not permissible when CENVAT Credit on inputs remains unutilized on account of closure of manufacturing unit or inability to utilize input credit..

Posted in GST |   2625 Views

The Goods and Service Tax Network (“GSTN”) has issued an advisory dated April 04, 2019 which state that all taxpayers is invited to Rule 46 (b) of the CGST Rules 2017, which specifies that the tax invoice issued by a registered person should have a consecutive serial number, not exc..

Posted in GST  11 comments |   12174 Views

CA Coaching
Online GST Class    |    x