News
Copy of IGST Rules 2017 as amended upto November 15
CBEC releases copy of Integrated Goods & Services Tax Rules 2017 (IGST Rules) as amended vide Notification No. 12/2017-Integrated Tax;.....
No GST on inter-state movement of rigs, tools & spares, except repairs & further supply
Finance Ministry (TRU) clarifies that inter-state movement of rigs, tools and spares, and all goods on wheels (like cranes) except.....
Terracotta idols eligible for Nil GST rate as "Clay idols", clarifies Finmin
Finance Ministry (TRU) clarifies that Terracotta idols are eligible for Nil GST rate under Sl. No. 135A of Notification No......
Milling of paddy by rice millers liable to 5% GST: FinMin clarification
Ministry of Finance clarifies that custom milling of paddy by Rice millers for Civil Supplies Corporation is liable to GST.....
Eye Share : GST on Municipality and Panchayat related services provided to or by Government authority
Under GST regime, services provided to / by Central or State Government or Union territory or local authority or a Governmental.....
CA can enrol as GST practitioner, conduct training, however, cannot be GST Consultant
The Institute of Chartered Accountants of India (ICAI) issues FAQs on ethical issues relating to GST, inter-alia states that a member.....
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CBEC prescribes rules for 'advertisement services' valuation attributable to States/UT, when supplied to Government
CBEC prescribes guidelines for determination of proportion of value attributable to different States or UTs, in case of advertisement services.....
Processed agri-produce warehousing not exempt; Aircraft engines stock-transfer between distinct persons creditable
Ministry of Finance clarifies that, processed products such as tea (i.e. black tea, white tea etc.), processed coffee beans or.....
Cabinet approves establishment of National Anti-profiteering Authority under GST
Union Cabinet approves creation of posts of Chairman and Technical Members of National Anti-profiteering Authority (NAA), thus paving way for.....
CBEC prescribes conditions and procedure for manual filing & processing of refund claims
CBEC issues clarification pursuant to the recommendations of GST Council, explains that due to non-availability of refund module on common.....
Govt. notifies extension of GSTR 1 for July to March and GSTR 3B due dates for Jan-March
CBEC notifies due dates for filing GSTR 3B for the months of January to March, 2018 which shall be 20th.....
CBEC notifies changes in rate of various items, exempts admission to protected monuments
Pursuant to GST Council’s 23rd meeting at Guwahati, CBEC issues notification for change in rates of various goods; Also, issues.....
Eye Share : Slump Sale under GST - Legacy of Ambiguity Continues
“Slump Sale” is a buzzword in the field of corporate restructuring. The Income Tax Act defines such sale as transfer.....
Govt. releases lists of goods & services receiving rate cuts, exemption; Explains 'composition' changes
Govt. releases list of items receiving GST rate cuts, states that list of 28% GST rated goods shall be pruned.....
GST Council simplifies Returns-filing process, extends dates; No registration for service-providers below threshold
GST Council, in its 23rd meeting at Guwahati, recommends a slew of facilitative measures for taxpayers; In a bid to simplify.....
GST Council announces rate cuts, 5% for all restaurants; Extends GSTR-3B till March 2018
GST Council moves 178 items from 28% to 18% bracket while retaining Cess goods such as luxury, sin, whitegoods, auto.....
Rs. 2 Cr. threshold, 1% rate under composition scheme
GST Council raises composition scheme threshold to Rs. 2 Crore; Rate for manufacturers and traders fixed at 1% without ITC.....
28% items list pruned to 50 from 227; Chocolates, detergents to attract 18%
Bihar Dy.CM Sushil Kumar Modi says that GST Council has pruned the list of items attracting 28 % tax rate to just 50.....
GSTN enables revision facility for GST TRAN-1 filed prior to November 9
GSTN enables facility for one-time revision of Form GST TRAN-1 for taxpayers who had filed the same prior to November.....
CBEC addresses errors hindering July IGST refunds disbursal; Advises precautionary measures for merchant-exporters
CBEC issues clarification in respect of common errors hindering disbursal of IGST refund for exports made in July 2017, stating.....