Legal Update

Govt. rescinds notification no. G.S.R. 319(E), w.e.f. 25th May 2018

NOTIFICATION New Delhi, the 21st May, 2018 No. 11/2018-Union Territory Tax G.S.R. 471(E).—In exercise of the powers conferred under sub-section (1) of section 22 of the Union Territory Goods and Services Tax Act, 2017 (No. 14 of 2017) and section 164 of Central Goods and Services Tax Act, 2017 (No. 12 of 2017) read with… Read More

Govt. rescinds notification number G.S.R. 315 w.e.f. 25th May 2018

MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION New Delhi, the 21st May, 2018 No. 10/2018-Union Territory Tax G.S.R. 470(E).—In exercise of the powers conferred under sub-section (1) of section 22 of the Union Territory Goods and Services Tax Act, 2017 (No. 14 of 2017) and section 164 of Central Goods and Services Tax Act, 2017… Read More

RBI issues final guidelines for Basel III Framework on Liquidity Standards – Net Stable Funding Ratio

RBI/2017-18/178 DBR.BP.BC.No.106/21.04.098/2017-18 May 17, 2018 All Scheduled Commercial Banks (excluding RRBs) Dear Sir/Madam, Basel III Framework on Liquidity Standards – Net Stable Funding Ratio (NSFR) – Final Guidelines The Net Stable Funding Ratio (NSFR) and Liquidity Coverage Ratio (LCR) are significant components of the Basel III reforms. The LCR guidelines which promote short term resilience… Read More

Govt. extends date for filing return in FORM GSTR-3B for the month of April, 2018

Government of India Ministry of Finance Department of Revenue Central Board of Indirect Taxes and Customs Notification No. 23/2018 – Central Tax New Delhi, the 18th May, 2018 G.S.R. …..(E).— In exercise of the powers conferred by section 168 of the Central Goods and Services Tax Act, 2017 (12 of 2017) read with sub-rule (5)… Read More

Govt. waives off the late fee for FORM GSTR-3B

MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) NOTIFICATION New Delhi, the 14th May, 2018 No. 22 /2018–Central Tax G.S.R. 450(E).—In exercise of the powers conferred by section 128 of the Central Goods and Services Tax Act, 2017 (12 of 2017), the Central Government, on the recommendations of the Council,… Read More

E-Way Bill system to roll out in the States of Assam & Rajasthan

Ministry of Finance 14 MAY 2018 As per the decision of the GST Council, e-Way Bill system for inter-State movement of goods has been rolled out from 01st April, 2018. As on 13th May, 2018, e-Way Bill system for intra-State movement of goods has been rolled out in the States/ Union Territory of Andhra Pradesh, Arunachal Pradesh,… Read More

Change in the Shareholding Pattern of GSTN

PRESS RELEASE 04th May 2018 Change in the Shareholding Pattern of GSTN The Goods and Services Tax Network - Special Purpose Vehicle (GSTN-SPV) was created as a private limited, not-for-profit company under Section 25 of the Companies Act, 1956 (Section 8 of the Companies Act, 2013) by Govt. of India on 28th March, 2013 with… Read More

GST Revenue Collections for the Financial Year 2017-18

Total Revenue of Rs. 7.19 lakh crore collected under GST in the period between August 2017 and March 2018 During 2017-18, total revenue collected under GST in the period between August 2017 and March 2018 has been Rs. 7.19 lakh crore. This includes Rs. 1.19 lakh crore of CGST, Rs. 1.72 lakh crore of SGST,… Read More

E-Way Bill system to roll out in Arunachal Pradesh, Madhya Pradesh, Meghalaya, Sikkim and Puducherry from 25 April, 2018

PRESS RELEASE 23rd April, 2018 Subject: Roll out of e-Way Bill system for intra-State movement of goods in the States / Union Territory of Arunachal Pradesh, Madhya Pradesh, Meghalaya, Sikkim and Puducherry from 25 thApril, 2018 As per the decision of the GST Council, e-Way Bill system for inter-State movement of goods has been rolled… Read More

Issues regarding “Bill To Ship To” for e-Way Bill under CGST Rules, 2017

A number of representations have been received seeking clarifications in relation to requirement of e-Way Bill for “Bill To Ship To” model of supplies. In a typical “Bill To Ship To” model of supply, there are three persons involved in a transaction, namely: ‘A’ is the person who has ordered ‘B’ to send goods directly… Read More

Central Goods and Services Tax (Fourth Amendment) Rules, 2018 notified

Government of India Ministry of Finance Department of Revenue Central Board of Indirect Taxes and Customs Notification No. 21/2018 – Central Tax New Delhi, the 18th April, 2018 G.S.R……(E).- In exercise of the powers conferred by section 164 of the Central Goods and Services Tax Act, 2017 (12 of 2017), the Central Government hereby makes… Read More

Extension of due date for filing of application for refund under section 55 by notified agencies

Government of India Ministry of Finance Department of Revenue Central Board of Excise and Custom s Notification No. 20/2018 – Central Tax New Delhi, the 28th March, 2018 G.S.R....(E).- Whereas, as per section 55 of the Central Goods and Services Tax Act, 2017 (12 of 2017) (hereafter in this notification referred to as the said… Read More

Six more states to roll out intra-State e-way bills from April 20

As per the decision of the GST Council, e-Way Bill system for all inter-State movement of goods has been rolled out from 01st April, 2018. As on 15th April, 2018, e-Way Bill system for intra-State movement of goods has been rolled out in the States of Andhra Pradesh, Gujarat, Karnataka, Kerala, Telangana and Uttar Pradesh.  E-Way Bills are… Read More

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