Legal Update - Corporate Law Reporter

GST exemption for products used by differently abled people

GST exemption for products used by differently abled people Specified assistive devices, rehabilitation aids and other goods for differently abled people attract the lowest (non-Nil) GST rate of 5%. Most of the inputs for such goods attract 18% GST. Nil GST on any goods zero rates inputs, while domestic goods continue to bear input taxes.… Read More

Central Govt. amends NOT. No. 1/2017-Compensation Cess (Rate) dt. 28th June, 2017

Central Government, on the recommendations of the Council, hereby makes the following amendments in the notification of the Government of India, in the Ministry of Finance (Department of Revenue), No. 1/2017-Compensation Cess (Rate), dated the 28th June, 2017. MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION New Delhi, the 18th July, 2017 No. 3/2017-Compensation Cess (Rate)… Read More

Customs Board examines operational problems faced by EOU under GST regime

Circular No. 29/2017-Customs F. No. DGEP/EOU/GST/16/2017 Government of India Department of Revenue Central Board of Excise & Customs Directorate General of Export Promotion New Delhi, 17th July, 2017 To Principal Chief Commissioners/Principal Directors General, Chief Commissioners/Directors General, Principal Commissioners/Commissioners, All under CBEC. Madam/Sir, Sub: Operational problems being faced by EOU in GST regime… Read More

Increase in the Compensation Cess rate on cigarettes :PIB

Increase in the Compensation Cess rate on cigarettes to make the total tax incidence on cigarettes in GST regime at par with the total tax incidence in pre-GST regime. In pursuance of the recommendations of the GST Council in its 14th Meeting held on 18.05.2017 and 19.05.2017, the Compensation Cess… Read More

GST applicable to second hand good on Margin Scheme basis

Position regarding applicability of the Margin Scheme under GST for dealers in second hand goods in general and for dealers in old and used empty bottles in particular. Doubts have been raised regarding the applicability of the Margin Scheme under GST for dealers in second hand goods in general and for dealers in old and… Read More

Registration under GST regime: Traders to register by 30th July 2017

Provisions related to registration under GST regime; Traders are requested to register now without waiting for the last date i.e. 30th July, 2017. As per the GST laws, one is required to take registration on or before 30thJuly, 2017. All traders are requested to register now without waiting for the last date. If one is carrying-out… Read More

Legal Services provided by Advocates to attract tax on reverse charge mechanism

Position regarding applicability of GST on Legal Services provided by individual Advocates including Senior Advocates and a Firm of Advocates. There are points being raised about the applicability of GST on legal services provided by advocates – whether it is in forward charge or reverse charge. It may be mentioned that there is no change made… Read More

No change to Services provided by RWA under GST regime

Services provided by the Housing Society Resident Welfare Association (RWA) not to become expensive under GST; There is no change made to services provided by the Housing Society (RWA) to its members in the GST regime. There are some press reports that services provided by a Housing Society [Resident Welfare Association (RWA)] will become expensive… Read More

No GST on Annual subscription/fees charged by educational institutions

No GST on Annual subscription/fees charged as lodging/boarding charges by educational institutions from its students for hostel accommodation; Services provided by an educational institution to students, faculty and staff are fully exempt from GST. There are some reports that GST@18% will be levied on annual subscription/fees charged for lodging in hostels. This is not true. … Read More

Govt. clarifies tax in reverse charge on gold ornaments

Further clarification on tax in reverse charge on gold ornaments; Sale of old jewellery by an individual to a jeweller will not make the jeweller liable to pay tax under reverse charge mechanism on such purchases; However, if an unregistered supplier of gold ornaments sells it to registered supplier, the tax under RCM will apply.… Read More

Govt. approves Creation of the Directorate of international Customs

F. No. A-1101312012017-Ad.IV Government of India Ministry of Finance Department of Revenue (Central Board of Excise & Customs) 5th Floor, HUDCO Vishala Building, Bhikaji Cama Place, New Delhi, the 11th July, 2017. OFFICE MEMORANDUM Subject : Creation of the Directorate of international Customs –regarding. The undersigned is directed to say that it has been decided with the approval of… Read More

Govt. clarifies no hold up of import and export consignments, unless GSTIN is legally required

Instruction No. - 10/2017-Customs F. No. 450/119/2017-Cus.IV Government of India Ministry of Finance Department of Revenue (Central Board of Excise & Custom) New Delhi dated the 6th July, 2017 To All Pr. Chief Commissioners/Chief Commissioners of Customs/Customs (Preventive) All Pr. Chief Commissioners /Chief Commissioners of Customs and Central Excise All Pr. Commissioners/Commissioners of Customs/Customs (Preventive)… Read More

No GST is applicable on such food supplied free:PIB

No GST is applicable on free food supplied in anna kshetras run by religious institutions; prasadam supplied by religious places like temples, mosques, churches, gurudwaras, dargahs, etc. attracts Nil CGST and SGST or IGST, as the case may be. There are media reports suggesting that GST applies on free food… Read More