Rules related to Registration and Composition Scheme have been notified on 19th June, 2017& came into effect from 22nd June, 2017 in order to start the process of issue of Registration Certificate, called Goods and Services Tax Identification Number (GSTIN), to taxpayers already issued provisional ID for registration (PID) as well as to the new taxpayers. The… Read More
Benefits of the reduced rates/tax rebate to the consumers post GST The GST Council comprising the representatives of Central and State Government recommended the GST rates for goods and services, interalia taking into account the pre-GST indirect taxes incidence on goods and service. The GST rates on goods have since been notified. With the GST… Read More
Circular No.1 /1/2017-Compensation Cess F.No.354/136/2017-TRU Government of India Ministry of Finance Department of Revenue (Tax Research Unit) ***** New Delhi, Dated 26th July, 2017 To Principal Chief Commissioners/ Principal Directors General, Chief Commissioners/ Directors General, Principal Commissioners/Commissioners, All under CBEC. Madam/Sir, Subject: Clarification regarding applicability of section 16 of the IGST Act, 2017, relating to… Read More
MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF EXCISE AND CUSTOMS) NOTIFICATION New Delhi, the 27th July, 2017 No. 17/2017–Central Tax G.S.R. 965(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 the following rules further to amend… Read More
MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION New Delhi, the 27th July, 2017 G.S.R. 964(E).—In exercise of the powers conferred by section 53 read with section 17 of the Central Goods and Services Tax Act, 2017 (12 of 2017), section 17 and 18 of the Integrated Goods and Services Tax Act, 2017 (13 of 2017)… Read More
MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION New Delhi, the 26th July, 2017 No. 73/2017-CUSTOMS (N.T.) G.S.R. 954(E).—In exercise of the powers conferred by sub-sections (2) and (3) of section 75 of the Customs Act, 1962 (52 of 1962) and sub-section (2) of section 37 of the Central , and if necessary, establish to the… Read More
Impact of GST on Civil Aviation Sector Under the GST regime the applicable tax rate on economy class passenger tickets has been reduced from 6% to 5% (non-creditable for goods), while the tax rate on business class has been increased from 9% to 12% with input tax creditable for both goods and services procured by… Read More
Central Board of Excise and Customs releases FAQ on GST Sectoral series for MSME, TEXTILE and EXPORTS sectors respectively. FAQ Sectoral Series-MSME FAQ Sectoral Series -TEXTILE FAQ Sectoral Series -EXPORTS Read More
MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 25th July, 2017 (INCOME TAX) S.O. 2321(E).— In exercise of the powers conferred by sub-section (1) and (2) of section 120 of the Incometax Act,1961 (43 of 1961), read with section 6 of the Black Money (Undisclosed Foreign Income and… Read More
CORRIGENDUM New Delhi, the 22nd July, 2017 G.S.R. 944(E).—In the notification of the Government of India, in the Ministry of Finance, Department of Revenue, No. 47/2017-Customs, dated the 30th June, 2017, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 782(E), dated the 30th June, 2017,— (i) at… Read More
CORRIGENDUM New Delhi, the 22nd July, 2017 G.S.R. 943(E).—In the notification of the Government of India, in the Ministry of Finance, Department of Revenue, No. 46/2017-Customs, dated the 30th June, 2017, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 781(E), dated the 30th June, 2017,— (i) at… Read More
CORRIGENDUM New Delhi, the 22nd July, 2017 G.S.R. 941(E).—In the notification of the Government of India, in the Ministry of Finance, Department of Revenue, No. 43/2017-Customs, dated the 30th June, 2017, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 778(E), dated the 30th June, 2017,— (i) at… Read More
CORRIGENDUM New Delhi, the 22nd July, 2017 G.S.R. 942(E).—In the notification of the Government of India, in the Ministry of Finance, Department of Revenue, No. 45/2017-Customs, dated the 30th June, 2017, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 780(E), dated the 30th June, 2017,— (i) at… Read More