News
Congress manifesto promises simple, equity based DTC & overhaul of GST regime
Congress party unveils its manifesto, reiterates that Income tax & GST are the 2 major taxes that will be the.....
Karnataka Govt. requires verification of credentials of auto-approved newly registered persons
Karnataka Govt. explains need to verify credentials of newly registered person by visiting the business premises, verify documents uploaded and.....
FinMin reports March '19 collections, highest ever since GST introduction
FinMin reports total gross GST revenue collections for March, 2019 as Rs. 1,06,577 crores (cr) comprising of CGST Rs. 20,353.....
ITC w.r.t. construction services to be proportioned basis construction area, explains CBIC
CBIC explains that in case of supply of construction services covered under clause (b) of paragraph 5 of Schedule II,.....
CBIC notifies exemption on transfer of TDR/FSI, upfront premium, amends CGST Rules
CBIC notifies exemption to service by way of transfer of development rights (TDR) or Floor Space Index (FSI) on or.....
CBIC notifies new rates for real-estate projects applicable from April 1
CBIC notifies GST rates on Real Estate Projects (REP)/ Residential Real Estate Project (RREP) pursuant to recommendations made by GST.....
CBIC clarifies on manner of transfer of ITC in case of death of sole proprietor
CBIC clarifies that transfer or change in the ownership of business will include transfer or change in the ownership of.....
CBIC requires exercise of due caution while processing the application for new registration
CBIC provides instructions for verification of applications of new registrations to cater instances where some persons, who continue to carry.....
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CBIC issues clarification on claiming refund of accumulated ITC on account of inverted duty structure
CBIC provides that refund of accumulated ITC on account of inverted tax structure for period in which there is reversal.....
Govt. extends due date for filing of GST ITC-04 upto June 30
CBIC extends due date for filing of FORM GST ITC-04 upto June 30, 2019 in respect of goods dispatched to.....
Eye Share : The Panorama of ITC on Rent-a-cab
Input Tax Credit (ITC) has been an area of concern for many professionals and businesses since inception of GST. New.....
Eye Share : Amendment in definition of supply - dropping excess baggage
Vide amendment in definition of ‘supply’ made on February 1, 2019, now the supply of goods or services as stated.....
Eye Share : Trading in Securities - Respite for Insurance Companies?
As part of the statutory requirement, companies engaged in the lift insurance business are required to invest in approved securities.....
Council asks GOM on realty to look into fresh concerns flagged by Maharashtra & Punjab
State of Maharashtra & Punjab express fresh reservations w.r.t revised GST rate structure for real estate, requesting for tweak in.....
Council prescribes conditions for availing reduced rates, new rates applicable where option not exercised for ongoing projects
GST Council, during its 34th meeting today, discussed operational details for implementation of recommendations made by the Council in its 33rd.....
Council confirms applicability of reduced GST rates on new real-estate projects from April 1
GST Council’s 34th meeting concludes; Revenue Secy confirms that reduced GST rates for new real-estate projects shall be mandatory from April 1.....
New GST return formats as applicable from April 1, 2019 now available on GST Portal
New GST return formats named “normal”, “sahaj” and “sugam” which shall be applicable from April 01, 2019 are now available.....
Govt. notifies formation of National Bench of Appellate Tribunal at New Delhi
Govt. notifies creation of National Bench of GST Appellate Tribunal (GSTAT) at New Delhi : Finance Ministry Notification.....
Real estate developers may need to reverse ITC on unused goods/services as on March 31
GST Law & Fitment Committee proposes that Input Tax Credit (ITC) on input goods & services lying unused as on.....
Eye Share : New ITC Set Off Mechanism with New set of Problems – Section 49A
The Government has amended CGST Act, 2017 vide CGST Amendment Act, 2018 with various changes applicable w.e.f. February 1 and.....