Corporate Law Reporter - The Daily Journal

30 states have passed State Goods and Service Tax legislation

This table shows the States who have passed the SGST legislation and the link to the following sites : S.No. Name of the State Date of grant of assent for SGST Bill Link to the SGST Act of the States Link to the State Websites 1. ANDHRA PRADESH 5 June 2017 Andhra Pradesh Goods… Read More

Clarification on Inter-state movement of various modes of conveyance, carrying goods or passengers or for repairs and maintenance

Circular No. 1/1/2017-IGST F. No. 354/119/2017 –TRU (Pt) Government of India Ministry of Finance Department of Revenue Tax Research Unit North Block, New Delhi Dated the 7th of July, 2017 To, The Principal Chief Commissioner/Chief Commissioners/ Principal Commissioner/ Commissioner of Central Tax (All) / Director General of Systems Subject: Clarification on Inter-state movement of various… Read More

Circular related to Bond/Letter of Undertaking for exports without payment of integrated tax

Circular No. 4/4/2017-GST F. No. 349/82/2017-GST Government of India Ministry of Finance Department of Revenue Central Board of Excise and Customs (GST Policy Wing) *** New Delhi, the 7 th July, 2017 To, The Principal Chief Commissioners / Chief Commissioners / Principal Commissioners/ Commissioners of Central Tax (All) Madam/Sir, Subject: Issues related to Bond/Letter… Read More

CG clarifies no change in tax rate on items of education in the GST era

The Central Government: There is no change made in any subject relating to education in the GST era, except to reduce tax rate on certain items of education such as school bags etc.; Denies the reports that education will become expensive under GST; Rather services provided by an educational institution to students, faculty and staff… Read More

PowerPoint Presentation on GST: Basic Concepts of Transition and Invoice

PowerPoint Presentation on GST: Basic Concepts of Transition and Invoice Click here to see ppt on GST Read More

CBEC vide NOT. 16/ 2017 -CT, specifies conditions for submission of letter of undertaking

MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF EXCISE AND CUSTOMS) NOTIFICATION New Delhi, the 7th July, 2017 No. 16/2017–Central Tax G.S.R. 848(E).—In exercise of the powers conferred by sub-rule (5) of rule 96A of the Central Goods and Services Tax Rules, 2017, the Central Board of Excise and Customs hereby specifies the conditions… Read More

CBEC clarifies issues related to furnishing of Bond/ Letter of Undertaking for Exports

Circular No. 2/2/2017-GST F. No. 349/82/2017-GST Government of India Ministry of Finance Department of Revenue Central Board of Excise and Customs GST Policy Wing New Delhi, Dated the 4 thJuly, 2017 To, The Principal Chief Commissioners/ Chief Commissioners/Principal Commissioners/ Commissioners of Central Tax (All) Madam/Sir, Subject: Issues related to furnishing of Bond/ Letter of Undertaking… Read More

CBEC releases Goods Rate Booklet and Services Rate Booklet

Index Of Goods Rate Booklet SCHEDULE II: LIST OF GOODS AT 0.25% RATE SCHEDULE III: LIST OF GOODS AT 3% RATE SCHEDULE IV: LIST OF GOODS AT 5% RATE SCHEDULE V: LIST OF GOODS AT 12% RATE SCHEDULE VI: LIST OF GOODS AT 18% RATE SCHEDULE VII: LIST OF GOODS AT 28% RATE. Download Goods Rate Booklet… Read More

Govt. assign the officers with various functions under CGST Act and Rules

Circular No. 3/3/2017 - GST F. No. 349/75/2017-GST Government of India Ministry of Finance Department of Revenue Central Board of Excise and Customs GST Policy Wing New Delhi, Dated the 5 th July, 2017 To, The Principal Chief Commissioners/Chief Commissioners/Principal Commissioners/ Commissioners of Central Tax (All)/ Director General of Systems Madam/Sir, Subject: Proper officer relating… Read More

Govt. releases Resolution on 7th Central Pay Commission list of allowances with modification

MINISTRY OF FINANCE (Department of Expenditure) RESOLUTION New Delhi, the 6th July, 2017 No. 11-1/2016-IC.—The Seventh Central Pay Commission (the Commission) was set up by the Government of India vide Resolution No. 1/1/2013-E.III (A), dated the 28th February, 2014. The period for submission of report by the Commission was extended upto 31st December, 2015 vide… Read More

CBDT issues corrigendum to NOT. 8/2017, dt. 3rd July, 2017

MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) CORRIGENDUM New Delhi, the 6th July, 2017 INCOME-TAX G.S.R. 841(E).—In the notification of the Government of India, Ministry of Finance, Department of Revenue (Central Board of Direct Taxes), number 58/2017, dated the 3rd July, 2017, published vide number G.S.R. 821(E) dated the 3rd July,… Read More

Govt. issues corrigendum to Notification No. G.S.R. 683 (E), dt. 28th June, 2017

MINISTRY OF FINANCE (Department of Revenue) CORRIGENDUM New Delhi, the 5th July, 2017 G.S.R. 838(E).—In the English version of the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 8/2017-Integrated Tax (Rate), dated the 28th June, 2017 published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section… Read More

CBEC releases FAQ’s on Composition Levy

Central Board of Excise and Customs releases Frequently Asked Questions on Composition Levy. Q 1. What is composition levy under GST? Ans. The composition levy is an alternative method of levy of tax designed for small taxpayers whose turnover is up to Rs. 75 lakhs ( Rs. 50 lakhs in case of few States). The… Read More