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THE EDGE
TAX & LEGAL UPDATE
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Vol 2, Part 43
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Wednesday Dec 12, 2018
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Fortnightly on GST, FSSAI, RERA & More...
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Ghiya Legal invites articles for publishing in THE EDGE.
Send your contributions to contact@ghiya.in.
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Upcoming due dates under GST & Income Tax Laws:
| GSTR-3B (November, 2018) |
20th Dec |
| Due date for furnishing of Form 24G by an office of the Government where TDS for the month of November, 2018 has been paid without the production of a challan |
15th Dec |
| Third instalment of advance tax for the assessment year 2019-20 |
15th Dec |
| Due date for issue of TDS Certificate for tax deducted under section 194-IA and 194-IB in the month of October, 2018 |
15th Dec |
| Due date for furnishing of challan-cum-statement in respect of tax deducted under section 194-IA and 194-IB in the month of November, 2018 |
30th Dec |
| GSTR-3B (Taxpayers obtaining GSTIN in the light of Notification No. 31/2018 dt. 06.08.2018) MONTHLY |
31st Dec |
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NOTIFICATIONS / AMENDMENTS
GST
Notification No. 62/2018-Central Tax dated 29.11.2018 - Seeks to extend the last date for filing of FORM GSTR-3B for taxpayers in Srikakulam district of Andhra Pradesh and 11 districts of Tamil Nadu.
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Notification No. 63/2018-Central Tax dated 29.11.2018 - Seeks to extend the due date for filing of FORM GSTR - 1 for taxpayers having aggregate turnover above Rs 1.5 crores for taxpayers in Srikakulam district in Andhra Pradesh and 11 districts of Tamil Nadu.
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Notification No. 64/2018-Central Tax dated 29.11.2018 – Seeks to extend the due date for filing of FORM GSTR - 1 for taxpayers having aggregate turnover up to Rs 1.5 crores for the quarter from July, 2018 to September, 2018 for taxpayers in Srikakulam district of Andhra Pradesh.
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Notification No. 65/2018-Central Tax dated 29.11.2018 – Seeks to extend the due date for filing of FORM GSTR - 4 for the quarter July to September, 2018 for taxpayers in Srikakulam district of Andhra Pradesh.
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Notification No. 66/2018-Central Tax dated 29.11.2018 - Seeks to extend the due date for filing of FORM GSTR – 7 for the months of October, 2018 to December, 2018
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CUSTOMS - TARIFF
Notification No. 78/2018-Cus. dated 29.11.2018 -
Amendment to notification no. 57/2000-Customs dated 08.05.2000.
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Notification No. 79/2018-Cus. dated 05.12.2018 -
Amendment to notification no. 52/2003-Customs dated 31.03.2003.
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CUSTOM – NON-TARIFF
Notification No. 94/2018-Cus.(NT) dated 30.11.2018 - 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. 95/2018-Cus.(NT) dated 06.12.2018 – Revised All Industry Rates of Duty Drawback.
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Notification No. 96/2018-Cus.(NT) dated 06.12.2018 – Exchange Rates Notification No.96/2018-Custom(NT) dated 06.12.2018.
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Notification No. 97/2018-Cus.(NT) dated 07.12.2018 – Amendment to Notification no. 62/94-Customs (N.T.) dated 21.11.1994 notifying Port Meadow u/s 7(a) of Customs Act, 1962 for unloading of imported goods and loading of export goods or any class of goods.
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ANTI DUMPING DUTY
Notification No. 56/2018-Customs (ADD) dated 04.12.2018 - Seeks to levy definitive anti-dumping duty on the imports of "Uncoated Copier Paper" originating in or exported from Indonesia, Thailand and Singapore.
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CENTRAL EXCISE
Notification No. 23/2018-Central excise dated 05.12.2018 - Amendment to notification no. 22/2003-CE, 23/2003-CE & 24/2003-CE all dated 31.03.2003 -reg.
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Notification No. 01/2018-Central Excise (NT) dated 05.12.2018 - General Bond (Form B-17) to be executed by the EOUs.
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The term “family” under section 2(49) of the CGST Act, 2017 does not include:
A: Children of the person;
B. Brother partially dependant on the said person.
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Last date to participate: Dec 16, 2018
PREVIOUS WEEK'S WINNERS
Ravikumar Doddi, Hyderabad
Rajeev Jain, Alwar
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Ramprasad Agarwal v. Income Tax Officer 2(3)(2), (Mumbai - Trib.) dated 30.11.2018
Assessing Officer received information from DGIT (Inv.), Kolkata that some companies were engaged in business of issuing penny stocks for which there were large number of beneficiaries claiming bogus long term capital gain - Assessing Officer, based on said information, found that assessee is one of beneficiaries of said racket and, thus long term capital gain from sale of shares of a company (Rutron) declared by assessee and claimed as exempt income under section 10(38) was treated by Assessing Officer as bogus and added said amount to total income of assessee under section 68.
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Assistant Commissioner of Income-tax, Mumbai v. Celerity Power LLP (Mumbai - Trib.) dated 16.11.2018
Where upon conversion of a private limited company into assessee-LLP entire undertaking of the erstwhile company got vested into the LLP, no separate cost other than the 'book value' were attributable to the individual assets and liabilities, hence such 'book value' could only be regarded as 'full value of consideration' for purpose of computation of capital gain under section 48.
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Trimurty Buildcon (P.) Ltd. v. Deputy Commissioner of Income Tax, CPC, TDS, Ghaziabad (Jaipur - Trib.) dated 29.10.2018
Amendment to provisions of section 200A with effect from 1-6-2015 empowering Assessing Officer levying fees under section 234E has prospective operation and, therefore, Assessing Officer while processing TDS statements for period prior to 1-6-2015, was not empowered to charge fees under section 234E.
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Bankers Cardiology Pvt. Ltd. vs. DCIT, Vadodara dated 26.10.2018
The Income Tax Appellate Tribunal ( ITAT ), Ahmedabad has recently allowed expenses incurred by a Hospital for conducting a seminar for the medical practitioners abroad that too with the financial aid from the Pharmaceutical companies.
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GST
Orson Holdings Company Ltd. v. Union of India (Gujarat) dated 07.12.2018
Petition challenging constitutional validity of rule 138(10) of the Central Goods and Services Tax Rules, 2017 / Gujarat Goods and Services Tax Rules, 2017 as being unconstitutional and violative of articles 14, 19(1)(g) and 301 of Constitution of India, to extent said provision restricts validity period of e-way bill in terms of distance to be travelled in a day was to be admitted.
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Star Rays v. Union of India (Bombay) dated 22.10.2018
Where assessee filed writ petition seeking refund of IGST paid in respect of goods exported and revenue stated that in view of technical difficulties, reconciliation of shipping bills and invoices was not possible and system had now been rectified and assessee could carry out necessary modifications in Forms GSTR-1 and GSTR-3B, assessee was directed to carry out necessary modifications in Forms GSTR-1 and GSTR-3B and communicate them to Competent Authority, who would dispose of refund applications.
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Indusind Media Communications Ltd. v. Union of India (Bombay) dated 19.10.2018
Where petitioner, on 10-8-2017, had transferred a part of its business to someone and in revised GST-TRAN-1 it sought to distribute input tax credit available as on 1-7-2017 amongst its branch offices/locations but due to technical difficulties distribution of credit was not reflected on website, petitioner was directed to file manually with Competent Authority a copy of revised GST TRAN-1, ITC-01 and GSTR-3B and on doing so it would be entitled to take credit.
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Imarti Lakdi Vyapari Sansthan, Jodhpur v. State of Rajasthan (Rajasthan) dated 29.10.2018
Even under GST regime State Government of Rajasthan has power to charge market fee under provisions of Rajasthan Agriculture Produce Marketing Act, 1961 from dealers engaged in sale and purchase of timber.
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Director General of Anti-Profiteering v. J.P. & Sons (NAA) dated 06.12.2018
Where respondent had not passed on benefit of tax reduction from 28 per cent to 18 per cent granted by Central and State Governments with effect form 15-11-2017 by maintaining same Maximum Retail Prices(MRPs) which he was charging before above date in case of its two products namely (i) Johnson and Johnson Baby Shampoo 110 ml and (ii) Johnson and Johnson Baby Powder 200 gms and had increased base price illegally and also forced his customers to pay additional GST on increased prices, it was to be held that he had acted in violation of provisions of section 171.
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Press Release by CBIC dated 03.12.2018 – Update on Status of GST Refunds.
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Press Release by CBIC dated 04.12.2018 – Examination for confirmation of enrollment of GST Practitioners.
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Press Release by CBIC dated 07.12.2018 – Extension of date for filing FORM GSTR-9, FORM GSTR-9A, FORM GSTR-9C.
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Press Release by CBIC dated 08.12.2018 – Effective rate of tax on buildings, flats, complex, etc.
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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