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THE EDGE
TAX & LEGAL UPDATE
Vol 2, Part 26
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Wednesday, Jul 04, 2018
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Weekly on GST, FSSAI, RERA & More...
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TCS Declaration u/s 206C (1A) - Form 27C |
7th Jul |
TDS Declaration u/s 197A - Form 15G/15H |
7th Jul |
Quarterly TDS Payment |
7th Jul |
GSTR-1 June (Monthly) |
10th Jul |
TCS Quarterly Statement - Form 27EQ |
15th Jul |
GST Quarterly Return under Composition Scheme |
18th Jul |
GSTR-3B (Jun 2018) |
20th Jul |
ITR by Non-Resident Taxable Person |
20th Jul |
GSTR-1 April to June (Quarterly) |
31st Jul |
GSTR-6 (Jul-17 to Jun-18 |
31st Jul |
Provisions of Reverse Charge Mechanism applicable on transactions between URP and RP u/s. 9(4) of CGST Act, 2018 are suspended till:
A: 31st July, 2018
B. 30th September, 2018
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Last date to participate: JUL 08, 2018
PREVIOUS WEEK'S WINNERS
Prakhar Gupta, Kanpur
VP Joshi, Ajmer
G Masilamani, Vellore
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CENTRAL TAX (RATE)
Notification No. 12/2018 – Central Tax (Rate) dt. 29.06.2018
Seeks to exempt payment of tax under section 9(4) of the CGST Act, 2017 till 30.09.2018.
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INTEGRATED TAX (RATE)
Notification No.13/2018 – Integrated Tax (Rate) dt. 29.06.2018
Seeks to exempt payment of tax under section 5(4) of the IGST Act, 2017 till 30.09.2018.
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CIRCULAR
Circular No. 49/23/2018-GST dt. 21.06.2018
Seeks to modify Circular No. 41/15/2018-GST
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CUSTOMS (TARIFF)
Notification No.48/2018–Customs dt. 20.06.2018
Seeks to increase the tariff rate on goods in chapters 7, 8, 28, 38, 72 and 73 in the First Schedule to the Customs tariff Act, 1975.
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Notification No.49/2018-Customs dt. 20.06.2018
Seeks to further amend notification No. 50/2017-customs dated 30th June 2017, to prescribe effective rate of duty on specified goods.
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Notification No. 50/2018–Customs dt. 30.06.2018
Seeks to provide the tariff concession to the goods of the description specified in column (3) of the Table hereto annexed and falling under the Chapter.
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CUSTOMS (NON-TARIFF)
Notification No.55/2018 - Customs (N.T.) dt. 21.06.2018
Exchange Rates Notification No.55/2018-Custom(NT) dated 21.06.2018
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Notification No.56/2018 - Customs (N.T.) dt. 22.06.2018 & Notification No.57/2018 - Customs (N.T.) dt. 22.06.2018
Non Tariff notifications issued by Anti-Smuggling Unit
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Notification No. 58/2018-CUSTOMS (N.T.) dt. 29.06.2018
Tariff Notification in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Sliver
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Notification No. 59/2018-CUSTOMS (N.T.) dt. 30.06.2018
Seeks to amend the Rules of Determination of Origin of Goods under the Asia-Pacific Trade Agreement, (formerly known as the Bangkok Agreement) Rules, 2006.
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Notification No. 8/2018-Customs (N.T./CAA/DRI) dt. 02.07.2018
Appointment of Common Adjudicating Authority by DGRI
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ANTI DUMPING DUTY
Notification No 34/2018-Customs (ADD) dt. 25.06.2018
Seeks to provide for provisional assessment of new/unused pneumatic tyres originating in or exported from People s Republic of China by M/s Shandong Haohua Tire Co. Ltd. (Haohua) (Producer) through Guangzhou Exceed Industrial Technology Co. Ltd. (exporter) or H K Trade Wing Trading Limited (exporter) till the final findings of New Shipper Review in this regard are received.
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CUSTOMS (CIRCULAR)
Circular No. 20/2018-Customs dt. 20.06.2018
Cigarettes and other Tobacco products (Packaging and Labeling),Second Amendment Rules, 2018
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CENTRAL EXCISE (CIRCULAR)
Circular No. 1066/5/2018-CX dt. 26.06.2018
Non-initiation/Delay in recovery proceedings -Audit Report no. 3 of 2017 and Audit Report no. 41 of 2016 of C&AG of India (Indirect Taxes - Central Excise and ST)
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Deputy Commissioner of Income-tax, Circle-2, Jaipur v. Jaipur Rugs Company (P.) Ltd. dt. 24.04.2018 [JAIPUR BENCH]
Councel: Shri Rajeev Sogani (CA)
In terms of sub-section (1) of section 144C, issuance of draft assessment order is a sine qua non before Assessing Officer can pass a regular assessment order under section 143(3)
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Sanjay Kailash Gupta vs. ITO, Kalyan dt. 02.07.2018 [MUMBAI TRIBUNAL]
100% Disallowance for Bogus Purchase can’t be made when Sales are not doubted.
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Skaps Industries India (P.) Ltd. v. Income Tax Officer dt. 21.06.2018 [AHMEDABAD BENCH]
US entity has to furnishing evidences, including tax residency certificate, under section 90(4) in support of its entitlement to benefits of Indo US tax treaty benefits
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Nokia Networks OY v. Joint Commissioner of Income-tax, Non Resident Circle, New Delhi dt. 05.06.2018 [DELHI TRIBUNAL]
Income of Nokia Finland from offshore supply of telecom equipment manufactured in Finland in pursuance of supply contract with Indian telecom operators could not be brought to tax in India even where installation was done by its subsidiary Nokia India.
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INCOME TAX
New Okhla Industrial Development Authority v. Chief Commissioner of Income-tax - [2018] (SC) dt. 02.07.2018
New Okhla Industrial Development Authority (NOIDA) is not a Municipality' as contemplated in clause (e) of Article 243Pof Constitution; nor is it covered by definition of local authority as contained in Explanation to Section 10(20); it's income is not eligible for exemption under section 10(20)
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CENTRAL EXCISE
Gulab Gundhi Tobacco Co. v. Commissioner of Central Excise, Delhi-I - [2018] (SC) dt. 09.01.2018
Product 'kimam' containing tobacco and used in small quantities in making pan classifiable under Heading No. 2403 99 20
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GST
BASF India Ltd., In re dt. 21.05.2018 (AAR, MAHARASHTRA)
Goods sold on high seas sale basis are non-taxable supply; no GST leviable
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Five Star Shipping, In re dt. 18.04.2018 (AAR, MAHARASHTRA)
Consultancy and Support services aren’t naturally bundled; not treated as Composite Supplies
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CBIC Press Release dt 20.06.2018 on -"Refunds processed during second refund extended fortnight"
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Press Release for extension of suspension of provisions of TDS and TCS till 30.09.2018
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Press release with respect to GST Day
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CBIC Press Release dt 30.06.2018 on - Shri S. Ramesh taking over charge of CBIC Chairman.
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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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