News
CBIC clarifies that ‘printing of pictures’ falls under Heading 998386, taxable at 18%
CBIC explains that service of “printing of pictures” falls under service code “998386: Photographic and videographic processing services”, taxable at 18%.....
CBIC clarifies on GST applicability on services of Business Facilitator/Correspondent to Banking Company
CBIC clarifies that the banking company is liable to pay GST on the entire value of service charge or fee.....
Food/ Beverages supply by educational institution alone exempt, not by any other person
CBIC clarifies that supply of food and beverages by an educational institution to its students, faculty and staff, where such.....
CBIC clarifies about GST applicability on various IIM programmes pre and post Jan 31, 2018
CBIC clarifies that all Indian Institutes of Managements (IIMs) are “educational institutions” w.e.f. January 31, 2018 as defined under Notification No. 12/ 2017- Central Tax.....
CBIC notifies rate reductions pursuant to 31st Council meeting
CBIC notifies GST rate reduction pursuant to decisions taken in the 31st meeting of GST Council held on December 22, 2018;.....
CBIC notifies extension in due dates for migrated taxpayers, waives late fees
CBIC notifies extension of time period for availing the special procedure for completing migration of taxpayers who received provisional IDs.....
Marginal dip in GST Revenue collections for December
Gross GST revenue collections for the month of December 2018 comes in at Rs.94,726 crore, which is a slight dip.....
CBIC issues clarification on various refund related issues, clarifies non-admissibility of accumulated ITC on input services/capital goods
CBIC provides clarification on various refund related issues, does away with the requirement of physical submission of all documents/undertaking/statements along.....
CBIC issues clarification relating to export of services where a portion is outsourced
CBIC explains that the total value of services agreed to in contract between exporter of services located in India and.....
CBIC clarifies on effective date in case of composition scheme denial
CBIC issues clarification regarding date from which withdrawal from composition scheme shall take effect in a case where composition taxpayer.....
CBIC clarifies on sale by Government Departments to unregistered person, tax rate applicable in case of debit/credit notes
CBIC clarifies that penalty under the provisions of section 73(11) of the CGST Act is not payable in cases where.....
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Govt. clarifies on classification of renewable energy plants, turbo chargers, LPG for domestic use
Govt. clarifies that concessional rate of 5% in respect of setting up of Waste to Energy plants (WTEP) under Sr......
FinMin issues order extending due date for furnishing returns in GSTR-9, GSTR-9A and GSTR-8
FinMin extends the due date for furnishing annual returns in FORM GSTR-9, GSTR-9A and reconciliation statement in FORM GSTR-9C for the.....
Eye Share : GST on development right transfer under JDA – An analysis of Advance Ruling
Recently, Karnataka AAR in the case of Sri. Patrick Bernardinz D’Sa [TS-726-AAR-2018-NT] pronounced a ruling holding land-owner liable to GST on premises developed.....
CBIC issues updated SOP on TDS under GST, FAQs on Financial Services Sector
CBIC issues updated Standard Operating Procedure (SOP) in respect of TDS under GST; Also, issues FAQs on Financial Services Sector updated as.....
CBIC issues guidelines for processing applications for financial assistance under 'Seva Bhoj Yojna' scheme
CBIC issues guidelines for processing applications for financial assistance under Central Sector Scheme named ‘Seva Bhoj Yojna’ of the Ministry.....
CBIC releases latest edition of GST FAQs updated upto December 15
CBIC releases 3rd edition of GST FAQs updated as on December 15, 2018; It contains 25 chapters and more than 1000 questions whereas.....
Eye Share : GST implications on Sales Promotional Schemes
Nowadays, businesses use various promotional tools to increase the sale of their products. While the use of Sales promotional schemes is.....
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Eye Share : GST implication on Transfer Pricing Adjustment - Part II
In Part I of his two article series, Mr. Geetanshu Bhalla (Chartered Accountant) discussed about GST implications of Primary Adjustment under transfer pricing regulations made on account of difference.....
Council refers service provider's composition scheme, tax on lotteries, to Committee/GOM
GST Council today refers to relevant Committees/GOM following important issues: (i) Extension of composition scheme to small service providers (ii) Tax.....