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THE EDGE
TAX & LEGAL UPDATE
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Vol 2, Part 30
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Wednesday, Aug 30, 2018
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Weekly on GST, FSSAI, RERA & More...
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1. NIL Returns can be filed via SMS
2. Process of UPLOAD-LOCK-PAY to be followed. Continuous uploading of invoices by supplier. Buyer can view the same and avail Input Tax Credit.
3. Option of filing Quarterly Returns with monthly payment of tax in a simplified return format by the small tax payers having turnover up to Rs. 5 cr.
4. A simple return with 2 tables. One for reporting outward supplies and one for availing Input Tax Credit based on invoices uploaded by buyer.
5. Facility of amendment of invoice and other details is also provided. Amendment shall be carried out by filing Amendment Return
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| Due date for deposit of Tax deducted/collected for the month of July 2018 |
7th Aug |
| GSTR-1 Jul-18 (Monthly - More than 1 Cr.) |
10th Aug |
| Issue of TDS Certificate for tax deducted under section 194-IA in the month of June, 2018 |
14th Aug |
| Issue of TDS Certificate for tax deducted under section 194-IB in the month of June, 2018 |
14th Aug |
| Quarterly TDS certificate (in respect of tax deducted for payments other than salary) for the quarter ending June 30, 2018 |
15th Aug |
| Furnishing of Form 24G by an office of the Government where TDS for the month of July, 2018 has been paid without the production of a challan |
15th Aug |
| GSTR-3B Aug-18 |
20th Aug |
| Filing ITR for non-corporate assessee where books of accounts are not required to be audited |
31st Aug |
| GSTR-6 (July, 2017 – June, 2018) |
30th Sept |
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GST CIRCULARS
Circular No. 50/24/2018-GST
Withdrawal of Circular No. 28/02/2018-GST dated 08.01.2018 as amended vide Corrigendum dated 18.01.2018 and Order No 02/2018–Central Tax dated 31.03.2018
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Circular No. 51/25/2018-GST
Applicability of GST on ambulance services provided to Government by private service providers under the National Health Mission (NHM)
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CGST
Notification No. 30/2018-Central Tax dt. 30.07.2018
Extending the due date for filing GSTR-6 for the period starting from July, 2017 to August, 2018 to 30th September, 2018.
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CGST (RATE) & IGST (RATE)
Notification No. 13/2018-Central Tax(Rate) dt. 26.07.2018 & Notification No. 14/2018-Integrated Tax(Rate) dt. 26.07.2018
Seeks to amend notification No. 11/2017- Central Tax (Rate) and notification No. 8/2017- Integrated Tax (Rate) so as to notify CGST rates and IGST rates respectively of various services as recommended by Goods and Services Tax Council in its 28th meeting held on 21.07.2018.
CGST Notif
IGST Notif
Notification No. 14/2018-Central Tax(Rate) dt. 26.07.2018 & Notification No. 15/2018-Integrated Tax(Rate) dt. 26.07.2018
Seeks to amend notification No. 12/2017- Central Tax (Rate) and notification No. 9/2017- Integrated Tax (Rate) respectively so as to exempt certain services as recommended by Goods and Services Tax Council in its 28th meeting held on 21.07.2018
CGST Notif
IGST Notif
Notification No. 15/2018-Central Tax(Rate) dt. 26.07.2018 & Notification No. 16/2018-Integrated Tax(Rate) dt. 26.07.2018
Seeks to amend notification No. 13/2017- Central Tax (Rate) and notification No. 10/2017- Integrated Tax (Rate) respectively so as to specify services supplied by individual Direct Selling Agents (DSAs) to banks/ non-banking financial company (NBFCs) to be taxed under Reverse Charge Mechanism (RCM).
CGST Notif
IGST Notif
Notification No. 16/2018-Central Tax(Rate) dt. 26.07.2018 & Notification No. 17/2018-Integrated Tax(Rate) dt. 26.07.2018
Seeks to amend notification No. 14/2017- Central Tax (Rate) and notification No. 11/2017- Integrated Tax (Rate) to notify that services by way of any activity in relation to a function entrusted to a municipality under Article 243W shall be treated neither as a supply of good nor a service.
CGST Notif
IGST Notif
Notification No. 17/2018-Central Tax(Rate) dt. 26.07.2018 & Notification No. 18/2018-Integrated Tax(Rate) dt. 26.07.2018
Seeks to insert explanation in an item in notification No. 11/2017 – Central Tax (Rate) and notification No. 8/2017 – Integrated Tax (Rate) by exercising powers conferred under section 11(3) of CGST Act, 2017 and section 6(3) of IGST Act, 2017.
CGST Notif
IGST Notif
Notification No. 18/2018-Central Tax(Rate) dt. 26.07.2018 & Notification No. 19/2018-Integrated Tax(Rate) dt. 26.07.2018
Seeks to amend Notification No. 01/2017-Central Tax (Rate), and Notification 01/2017-Integrated Tax (Rate) dt. 28-06-2017 to give effect to the recommendations of the GST Council in it’s 28th meeting held on 21.07.2018
CGST Notif
IGST Notif
Notification No. 19/2018-Central Tax(Rate) dt. 26.07.2018 & Notification No. 20/2018-Integrated Tax(Rate) dt. 26.07.2018
Seeks to amend Notification No. 02/2017-Central Tax (Rate), Notification 02/2017-Integrated Tax (Rate) dt. 28-06-2017 to give effect to the recommendations of the GST Council in it’s 28th meeting held on 21.07.2018
CGST Notif
IGST Notif
Notification No. 20/2018-Central Tax(Rate) dt. 26.07.2018 & Notification No. 21/2018-Integrated Tax(Rate) dt. 26.07.2018
Seeks to amend Notification No 05/2017-Central Tax (Rate), Notification 05/2017-Integrated Tax (Rate) dt. 28-06-2017 to give effect to the recommendations of the GST Council in it’s 28th meeting held on 21.07.2018
CGST Notif
IGST Notif
Notification No. 21/2018-Central Tax(Rate) dt. 26.07.2018 & Notification No. 22/2018-Integrated Tax(Rate) dt. 26.07.2018
Seeks to prescribe concessional CGST rate and IGST Rate on specified handicraft items, to give effect to the recommendations of the GST Council in it’s 28th meeting held on 21.07.2018
CGST Notif
IGST Notif
CUSTOMS (TARIFF)
Notification No. 55/2018-Cus dt. 26.07.2018
Seeks to exempt IGST calculated on the assessable value over and above the value (Pool in Price) at which Urea is sold by Department of Fertilizers to Fertilizer Marketing Entities on high sea sale basis.
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CUSTOMS (NON-TARIFF)
Notification No. 64/2018-Cus(NT) dt. 27.07.2018
Amendment of Export manifest in certain case
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Notification No. 65/2018-Cus(NT) dt. 30.07.2018
Amendment to notification no. 38/2018-Cus (NT) dated 11.5.2018
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Notification No. 11/2018-Customs(NT/CAA/DRI) dt. 30.07.2018
Appointment of Common Adjudicating Authority by DGRI
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Notification No. 12/2018-Customs(NT/CAA/DRI) dt. 30.07.2018
Appointment of Common Adjudicating Authority by DGRI
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SAFEGUARD DUTY
Notification No. 01/2018 Cus.(SG) dt. 30-07-2018
Seeks to impose safeguard duty on imports of ‘Solar Cells, whether or not assembled in modules or panels’ falling under heading 8541 of the Customs Tariff Act, 1975, for a period of two years.
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Navneet Agarwal v. ITO, Kolkata dt. 20.07.2018 [KOLKATA BENCH]
Capital Gains from Penny Stocks can’t be treated as Bogus if Revenue does not prove that there is a Scam.
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ACIT, New Delhi vs. Sanjay Passi dt. 11.07.2018 [DELHI BENCH]
Deemed Dividend can’t be assessable in the hands of Director when AO accepted Company’s Return without any Objection
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Xavier Institute of Management, Bhubaneshwar vs. ITO, Bhubaneshwar dt. 27.07.2018 [CUTTACK BENCH]
Income Received by Charitable Institution from Training and Consultancy Fee from Corporates not a Commercial Activity
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ACCME (Urvashi Pumps) Eng. (P.) Ltd. vs. Joint Commissioner of Income-tax.(OSD) Circle-4 Jaipur dt. 23.01.2018 [JAIPUR BENCH]
Where assessee allowed trade discount to its related parties, however, no such discount was offered to other parties, in absence of any prohibitory provisions under section 40A(2)(a) or under section 37, same could not be disallowed
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SERVICE TAX
NKG Infrastructure Ltd. v. Commissioner of Customs, Central Excise and Service Tax Ghaziabad dt. 27.03.2018 [SUPREME COURT OF INDIA]
Levelling of agricultural land was classifiable as site formation & clearance service; not exempted
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CCE Vs. Nithesh Estates Ltd. dt. 04.07.2018 [HIGH COURT OF KARNATAKA, BANGALORE]
Service Tax cannot be levied on the Corporate Bodies for the construction of residential complex occupied by the employees.
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INCOME TAX
Commissioner of Income Tax (Central), Jaipur v. Ranjeet Singh Yadav dt. 03.07.2018 [SUPREME COURT OF INDIA]
No sec. 69 additions if assessee didn't explain source of investment of prospective bulk purchases of land
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VAT
Kairali Steels & Alloys (P.) Ltd. v. Assistant Commissioner of State Tax dt. 15.05.2018 (Kerala)
Where assessee against assessment order filed appeal before Appellate Authority along with stay application of recovery and Appellate Authority granted stay subject to deposit of 20 per cent of tax and interest by assessee, Appellate Authority considering stay application was bound to give reasons even while granting conditional stay
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Auction for Sale (Re-issue) of Government Stocks. (Press Release by PIB dt. 30.07.2018)
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Extension of Date for filing Income-Tax Returns (Press Release by PIB dt. 26.07.2018)
Read More
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Measures to restrict the import of Gold (Press Release by PIB dt. 25.07.2018)
Read More
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Editorial Team :
Meenal Ghiya, Priyamvada Joshi & Deepak Garg
Disclaimer: "The Edge" is meant for informational purpose only and does not claim to be advice or opinion, legal or otherwise, whatsoever. The information provided is not intended to create any advocate-client relationship and is not for advertising. The views expressed by the Author(s) are their personal views.
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