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THE EDGE
TAX & LEGAL UPDATE

 

 

Vol 3, Part 54

Wednesday, May 01, 2019

Fortnightly on GST, FSSAI, RERA & More...

 

Ghiya Legal invites articles for publishing in THE EDGE.

 

Send your contributions to contact@ghiya.in.

 

 

ITAT JUDGEMENTS

 

MUMBAI BENCH

 

Kaushik D. Mistry vs. Income Tax Officer-20(2)(3) dt. 23.04.2019
The acquisition of the tenancy rights would not amount to purchase or construction of a new property and therefore, the capital gain exemptions under sections 54 and 54F of the Income Tax Act, 1961 is not available. Read More
Star India (P.) Ltd. v. Additional Commissioner of Income-tax, Mumbai [2019] (Mumbai - Trib.) dt. 15.03.2019
If at appellate stage department would be permitted to rake up issue relating to determination of arm's length price of advertisement and publicity expenses, it will virtually result in re-opening of assessment which is prohibited under section 92CA(2C)

 

PUNE BENCH

 

M/s. Angre Port (P) Ltd. vs, ITO, Ratnagiri dt. 22.4.2019
The Payment of wharfage charges are not subject to TDS under section 196 of the Income Tax Act, 1961. Read More

 

JAIPUR BENCH

 

Shri Badri Narayan Choudhary vs. ITO (ITA No. 283/JP/2019) dt. 24.04.2019
Counsel for the Assessee: Shri Ashish Khandelwal (CA)
If after issuing notice U/s 148 of the Act, the Assessing Officer accepted the contention of the assessee and holds that the income which he has initially formed a reason to believe had escaped assessment, has as a matter of fact not escaped assessment, it is not open to him to independently assess some other income and if he intends to do so, a fresh notice U/s 148 would be necessary, the addition made by the Assessing Officer towards unexplained cash deposit in the assessee’s bank account cannot be sustained as the very reasons for reopening the assessment has not been made the subject matter of assessment in the hands of the assessee. Read More

 

FROM THE BENCH

 

 

GST - AUTHORITY FOR ADVANCE RULINGS, UTTARAKHAND

 

NHPC Ltd. In re [2019] (AAR- UTTARAKHAND) dt. 30.01.2019
Where applicant has been entrusted work of construction of Indo-Nepal Border Road and it sub-contracted said work to sub-contractors and it sought advance ruling on applicability of GST on sub-letting of work entrusted to sub-contractors, since there were different views between members on applicability of GST on sub-contractors, application was referred to Appellate Authority for Advance Ruling for decision Read More

 

GST – TELANGANA HIGH COURT

 

Megha Engineering & Infrastructures Ltd. v. Commissioner of Central Tax [2019] (TELANGANA) dt. 18.04.2019
Sec. 50 of CGST Act- Interest payable on Gross Tax liability under GST Read More

 

INCOME TAX – CALCUTTA HIGH COURT

 

Hindustan Lever Ltd. v. Joint Commissioner of Income-tax, Special Range-2, Calcutta [2019] 215 (Calcutta) dt. 29.01.2019
Where Assessing Officer failed to apply binding precedent that blending of tea leaves was not manufacturing or production activity and had wrongly allowed deduction under section 80-I, same being an error apparent on face of record, assessment order was to be rectified Read More

 

CENTRAL EXCISE – SUPREME COURT

 

Commissioner of Central Excise, Nagpur-I v. Wardha Power Company Ltd. [2019] (SC) dt. 02.01.2019
Where assessee filed refund application in respect of services consumed in SEZ and Adjudicating Authority denied refund on ground that there were no nexus between services and operation carried out in SEZ and Tribunal, on further appeal, set aside order of Adjudicating Authority on ground that he had not examined relevant evidence, nor conducted enquiry wherever needed, Supreme Court dismissed appeal being filed by revenue on ground of delay as well as on merits Read More

 

 

◔ TIMELINES

 

Upcoming due dates under GST & Income Tax Laws:

 

Due date for deposit of Tax deducted/ Collected by Assessee during the month of April 2019 07th May
Due date for Filing GST TCS Returns or Form GSTR 8 for the Month of April 2019 10th May
Due date for filing GSTR-1 for the month of April 11th May
Monthly PF payment for April 2019 15th May
ESIC payment for the month of April 2019 15th May
Due date for filing GSTR-3B for the month of April 20th May
Due date of GSTR-5 for the month of April 2019 20th May
Filling TDS Return 31st May
ue date for furnishing the annual returns in FORM GSTR-9, FORM GSTR-9A and reconciliation statement in FORM GSTR-9C for the Financial Year 2017 – 2018 30th June

 

 

WEEKLY QUIZ

 

 

Last date for filing of Annual Returns for the Financial Year 2017-18 is

A: 30th June 2019

B. 30th September 2019

Click here

Last date to participate:
May 05, 2019

 

PREVIOUS WEEK'S WINNERS

 

CA Harjeet, Bhopal (MP)
Man Mohan Agarwal, Bundi (Raj)
Shiv Ratan Sharma, Jaipur (Raj)

 

NOTIFICATIONS / AMENDMENTS

 

CGST

 

Notification No. 19/2019-Central Tax, dt. 22-04-2019
Seeks to extend the due date for furnishing of returns in FORM GSTR-3B for the Month of March, 2019 for three days (i.e. from 20.04.2019 to 23.04.2019) Read More

 

Notification No. 20/2019-Central Tax , dt. 23-04-2019
Seeks to make Third amendment, 2019 to the CGST Rules Read More

 

Notification No. 21/2019-Central Tax , dt. 23-04-2019
Seeks to notify procedure for quarterly tax payment and annual filing of return for taxpayers availing the benefit of Notification No. 02/2019– Central Tax (Rate), dated the 7th March, 2019 Read More

 

Notification No. 22/2019-Central Tax , dt. 23-04-2019
Seeks to notify the provisions of rule 138E of the CGST Rules w.e.f 21st June, 2019. Read More

 

CGST – CIRCULAR

 

Circular No. 98/17/2019 dt. 23.04.2019
Seeks to clarify the manner of utilization of input tax credit post insertion of the rule 88A of the CGST Rules Read More

 

Circular No. 99/18/2019 dt. 23.04.2019
Seeks to clarify the extension in time under sub-section (1) of section 30 of the Act to provide a one time opportunity to apply for revocation of cancellation of registration on or before the 22nd July, 2019 for the specified class of persons for whom cancellation order has been passed up to 31st March, 2019 Read More

 

Circular No. 100/19/2019 dt. 30.04.2019
GST Applicability on Seed Certification Tags Read More

 

Circular No. 101/20/2019 dt. 30.04.2019
GST exemption on the upfront amount payable in installments for long term lease of plots, under Notification No. 12/2017, Central Tax (Rate), S.No. 41, dated 28.06.2017 Read More

 

 

CGST – ORDER (REMOVAL OF DIFFCULTIES)

 

Order No. 5/2019 - Central Tax dt. 23.04.2019
Seeks to extend the time limit for filing an application for revocation of cancellation of registration for specified taxpayers Read More

 

 

CUSTOMS - TARIFF

 

Notification No. 12/2019-Cus,dt. 11-04-2019
Seeks to amend notification No. 39/96-Customs dated 23.07.1996 so as to extend the exemption provided to the Light Combat Aircraft Programme of the Ministry of Defence till 31.06.2019. Read More

 

Notification No. 13/2019-Cus dt. 26.04.2019
Seeks to further amend notification No. 50/2017- Customs dated 30.06.2017 so as to increase basic customs duty (BCD)on wheat from present 30% to 40%. Read More

 

CUSTOMS – NON-TARIFF

 

Notification No. 31/2019-Cus(NT) dt. 15.04.2019
Tariff Notification in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Sliver Read More

 

Notification No. 32/2019-Cus(NT) dt. 18.04.2019
Exchange Rates Notification No.32/2019-Custom(NT) dated 18.04.2019 . Read More

 

Notification No. 33/2019-Cus(NT) dt. 25.04.2019
Shipping Bill (Electronic Integrated Declaration and Paperless Processing) Regulations, 2019 Read More

 

ANTI DUMPING DUTY

 

Notification No. 19/2019-Cus (ADD), dt. 16-04-2019
Seeks to rescind anti-dumping duty notification No. 39/2018-Customs (ADD) dated 20.08.2018, in pursuance with sunset review final findings issued by the DGTR Read More

 

GST ANNUAL RETURNS – UPDATES AVAILABLE ON GSTN PORTAL

 

Recently, the GST Portal has introduced a number of new functionalities in order to improve GST compliance. Some of the new functionalities deployed are listed hereunder for your reference.

 

An Excel based Offline utility containing instructions have been deployed for preparing Annual Return Form GSTR 9A and Form GSTR 9C. Most of the data Entry and business validations are inbuilt redcing the chances of error and will save time and effort for preparing the Annual Returns. It can be downloaded from the “Downloads” section in home page of the GST portal.

 

Where a taxpayer has opted for composition scheme during any part of the Financial Year 2017-18, they are required to file Form GSTR 9A for the said Financial Year.

 

One can download the system computed summary of the Annual Return GSTR-9A using the Offline Utility and can also download GSTR-4 return Summary at GST Portal. The system computed values can be edited in the Offline tool. Then the composition taxpeyrs are required to upload the JSON file on the portal. The last date for filing of Annual Returns is 30th June, 2019.

 

An excel based offline utility has been provided for filing FORM GSTR-9C which is a reconciliation statement to be filed with the Annual return in FORM GSTR-9 under normal category having turnover above Rs. 2 crores during a financial year. It is designed to help auditors for preparing taxpayer's GSTR-9C statement. Flow chart to depict the procedure is as under:

 

Click on 'Download GSTR-9C tables derived from GSTR-9(PDF)' to download 'System generated summary based on GSTR-9'

Pass on the PDF file to the Auditor.

The CA / Cost Accountant (Auditor) will fill Form GSTR-9 related fields in GSTR-9C offline tool

He shall generate JSON File after validation

He shall affix his Digital Signature and pass on the signed JSON file to the taxpayer to be uploaded on the GST Portal.

JSON file shall be uploaded in the Portal with Copies of documents like Balance Sheet, Income and Expenditure Account/ Profit and Loss Account and any other documents

 

The FAQs and Manual for GSTR-9C (offline) is available at link:
i. User Manual
ii. FAQs

 

Any additional liability reported in the Annual Return can be paid in cash by the taxpayers using Form DRC-03 after selecting the reason as Annual Return/Reconciliation Statement, as applicable. For further details Log on to GSTN Portal.

 

 

MISCELLANEOUS

 

  • Press Release by CBIC dated 22.04.2019
    Regarding examination for GST Practitioners on 14.06.2019 Read More
  • Press Release by PIB dated 22.04.2019
    Repayment of 7.28% Government Stocks 2019 Read More
  • Press Release by PIB dated 23.04.2019
    Note on search conducted in NCR on a Group in the Power sector Read More
  • Press Release by PIB dated 25.04.2019
    Income Tax Department continues search action in J&K Region Read More

 

 

 

Editorial Team : Meenal Ghiya, Priyamvada Joshi & Deepak Garg

 

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