CBIC issued 13 GST Notifications in lieu with the 32nd GST Council meeting which was held on 10th January'19. The List of notifications issued on 29th Jan'19 by CBEC has been summarized in a tabular format as mentioned below: Sr. No. Date of Issue Notification No. Subject 1 29-01-19 02/2019-Central Tax Seeks to bring into force the CGST (Amendment) Act, 2018 2 29-01-19 03/2019-Central Tax Seeks to amend the CGST Rules, 2017 3 29-01-19 04/201..
Functions of National Anti-profiteering Authority (NAA) from Competition Commission of India (CCI) and the Central Board of Excise and Customs (CBEC) The National Anti-profiteering Authority (NAA) has been constituted under section 171 of the Central Goods and Services Tax Act, 2017 read with Chapter XV of the Central Goods and Services Tax Rules, 2017 (CGST Rules for short) to determine whether the reduction in tax rates or benefit of input tax credit is being passed on to the recipient by w..
The Central Board of Indirect Taxes and Customs vide Circular No. 38/2018 dated March 26, 2018 has clarified various provisions of job work w.r.t. issuance of challan, requirement of registration, liability to issue invoice, availability of Input Tax Credit and other compliances for both principal and job worker. For your easy understanding on various job-work procedures & compliances, Mr. Bimal Jain has recorded a Video Presentation which has been mentioned below: Followi..
Happy Mahavir Jayanti !! May Lord Mahavir bless you abundantly and fill your life with the virtue of truth, non-violence and compassion. The Central Board of Excise and Customs vide Circular No. 38/2018 dated March 26, 2018 has clarified various provisions of job work w.r.t. issuance of challan, requirement of registration, liability to issue invoice, availability of Input Tax Credit and other compliances for both principal and job worker. Following is the gist of the Circular..
CBEC simplifies Anti-Profiteering Application Form (APAF – 1) The same can be downloaded from the attachment as mentioned below. ..
Seeks to prescribe the due dates for filing FORM GSTR-3B for the months of April to June, 2018 [To be published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i)] Government of India Ministry of Finance (Department of Revenue) Central Board of Excise and Customs Notification No. 16 /2018 – Central Tax New Delhi, the 23rd March, 2018 G.S.R……(E). - In exercise of the powers conferred by section 168 of the Central Goods and Services Tax ..
• First Amendment 2018, to CGST Rules • Reduction of late fee in case of delayed filing of FORM GSTR-1 • Reduction of late fee in case of delayed filing of FORM GSTR-5 • Reduction of late fee in case of delayed filing of FORM GSTR-5A • Reduction of late fee in case of delayed filing of FORM GSTR-6 • Extension of date for filing the return in FORM GSTR-6 • Amendment of notification No. 4/2017-Central Tax dated 19.06.2017 for notifying e-way bil..
S. no. Title Notification No. Date 1 Manual filing of applications for GST Advance Ruling and appeals before Appellate Authority for Advance Ruling Circular No. 25/25/2017-GST 21/12/2017 2 Manual filing and processing of refund claims on account of inverted duty structure, deemed exports and excess balance in electronic cash ledger Circular No. 24/24/2017-GST 21/12/2017 3 Issues in respect of main..
CBEC to Redistribute Cases in Jurisdictions to Reduce Pendency of Cases With Commissioners (Appeal) In order to clear the pendency of cases as on 30th June 2017 before the Commissioners of Central Excise and Service Tax (Appeals), the CBEC will redistribute the cases pending in the jurisdiction of a Principal Chief Commissioner / Chief Commissioner of Central Excise and Service Tax, among other Commissioner rank officers posted in that jurisdiction. A notification and circular have been is..
Introduction: This article discusses in summarized form about 41 notification issued by CBEC in a day to give effect to the decisions of GST Council. CBEC has issued below 41 notifications in a day to give effect to GST Council decisions in 22nd meet. A brief summary of them is as below: S. No. Description Notification No. Date of Notification w.e.f 1 UTGST: Order removing difficulties in co..
In the backdrop of 22nd meeting of GST Council held on 06.10.2017 a few notifications were issued by the CBEC on 13.10.2017. Here is a draft advisory related to those notifications. All these changes shall be effective from 13.10.2017. Changes in the Law (CGST/IGST) Notification No 38/2017 (Central Tax) & Notification No 09/2017 (Integrated Tax) A few items have been notified to be included in the category of Handicraft items, which were earlier notified to be exempted from registr..
Government has issued following latest Notifications in respect of TDS applicability, exemption from taking registration and notifying due dates for filing of GSTR-3B. The summary of the said Notifications is stated below: Notification No. 32/2017-Central Tax dated 15th September 2017 & Notification No. 08/2017-Integrated Tax dated 14th September 2017: The Central Government grants an exemption to a casual taxable person making supplies of handicraft goods from the requirement to obtai..
Q 1. What is composition levy under GST? Ans. The composition levy is an alternative method of levy of tax designed for small taxpayers whose turnover is up to Rs. 75 lakhs (Rs. 50 lakhs in case of few States). The objective of composition scheme is to bring simplicity and to reduce the compliance cost for the small taxpayers. Moreover, it is optional and the eligible person opting to pay tax under this scheme can pay tax at a prescribed percentage of his turnover every quarter, instead..
CHAPTER - ASSESSMENT AND AUDIT 1. Provisional Assessment (1) Every registered person requesting for payment of tax on a provisional basis in accordance with the provisions of sub-section (1) of section 60 shall furnish an application in FORM GST ASMT-01, along with the documents in support of his request, electronically through the Common Portal, either directly or through a Facilitation Centre notified by the Commissioner. (2) The proper officer may, on receipt of the application under..
In order to engage with the stakeholders and invite comments from the public at large, the Centre has issued 8 Goods and Services Tax ("GST") Rules viz. Composition Rules, Valuation Rules, Transition Rules, Input Tax Credit ("ITC") Rules, Revised Invoice Rules, Revised Payment Rules, Revised Refund Rules and Revised Registration Rules, on April 1, 2017. Further, the CBEC has also released the second edition of FAQs on GST on the basis of CGST, SGST, IGST, UTGST and Compens..
FM approves the re-organisation of the field formations of the Central Board of Excise & Customs (CBEC) for the implementation of Goods & Services Tax (GST); CBEC is being renamed as the Central Board of Indirect Taxes & Customs (CBIC), after getting legislative approval Reorganisation of the field formations of the Central Board of Excise & Customs (CBEC) for the implementation of Goods & Services Tax (GST) has been approved by the Union Finance Minister, Shri Arun ..
To ensure implementation of GST by 1st April, 2017, Central Board of Excise & Customs (CBEC) has initiated the process of migration of its existing Central Excise/Service Tax assessees to GST from today. A 24x7 Helpdesk (Through Toll-Free number and Email) started for the purpose. Central Board of Excise & Customs (CBEC) has initiated the process of migration of its existing CENTRAL EXCISE/SERVICE TAX assessees to GST with effect from 9th January, 2017. As part of ..
The CBEC today releases the revised Draft GST Model and Draft Compensation Law for compensation to the States for loss of revenue on account of GST implementation. In terms of Constitution 101st Amendment Act, 2016, the Centre would compensate the States of any revenue loss for the first five year after implementation of GST. The following are the key take away from the bill: The Compensation would be calculated taking FY 15-16 as a base year. The projected growth in States revenue would b..
Draft Model GST Law, Draft IGST Law and Draft Compensation Law placed in the public domain for information of trade, industry and other stake holders. The Draft Model GST Law, Draft IGST Law and Draft Compensation Law which would be considered by the GST Council for approval are placed in the public domain for information of trade, industry and other stake holders. The Draft Model Laws can be accessed here Earlier, the Draft Model GST Law was put in public domain in the month of June..
PRESENTATION PLAN Why GST : perceived benefits Existing indirect tax structure Features of constitution amendment bill Features of proposed GST model Features of draft GST law GSTN Role of CBEC Way forward PFA the enclosed attachment to view the presentation ..
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