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THE EDGE
TAX & LEGAL UPDATE
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Vol 2, Part 38
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Wednesday, Sep 19, 2018
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Weekly on GST, FSSAI, RERA & More...
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Ghiya Legal invites articles for publishing in our weekly newsletter THE EDGE.
Send your contributions to contact@ghiya.in.
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The CBIC in its notification no. 24/2018 dated 28.05.2018 notified that NACIN, will be the authority to conduct the examination for the enrollment of Goods and Services Tax Practitioners (GSTPs) as per the section 48 of the Central Goods and Services Tax Act, 2017 (12 of 2017) read with sub-rule (3) of rule 83 of the Central Goods and Services Tax Rules, 2017.
In the recent Press Release of Ministry of Finance dated 17.09.2018, it is stated that GSTPs those are enrolled on the GST Network under sub-rule (2) of Rule 83 and covered under by-clause (b) of sub-rule (1) of Rule 83 i.e. those meeting the eligibility criteria of having enrolled as sales tax practitioners or tax return preparer under the existing law for a period not less than five years, are required to pass the said examination before 31.12.2018 in terms of second proviso to Rule 83(3). The examination for such GSTPs shall be conducted on 31.10.2018 from 11:00 AM to 1:30 PM at designated Examination Centers across India.
The exam will be online and registration for the exam can be done by the eligible GSTPs on a registration portal, link of which (https://nacin.onlineregistrationform.org/) will also be provided on NACIN and CBIC websites. The Registration Portal will be activated on 25 September, 2018 and will remain open up to 10 Oct 2018. The applicants are required to make online payment of examination fee of Rs. 500/- at the time of registration for this exam. Their will be total 100 MCQs in both English and Hindi Language for which time of Two Hours and Thirty Minutes will be allowed. Each Question will carry 2 marks and total qualifying marks will be 100 and there will be no negative marking. The Syllabus for the Exam is also notified.
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Upcoming due dates under GST & Income Tax Laws:
| GSTR-3B August, 2018 |
20th Sept |
| GSTR-5 August, 2018 |
20th Sept |
| GSTR-5A August, 2018 |
20th Sept |
| GSTR-6 (July, 2017 – June, 2018) |
30th Sept |
| Due date for furnishing of challan-cum-statement in respect of tax deducted under section 194-IA or under section 194-IB in the month of August, 2018 |
30th Sept |
| Audit report under section 44AB for the AY 2018-19 in the case of a corporate-assessee or non-corporate assessee (who is required to submit his/its return of income on September 30, 2018). |
30th Sept |
| GSTR-1 (Quarterly Return for July – September, 2018) |
31st Oct |
| GSTR-1 MONTHLY (July, 2017-September, 2018) |
31st Oct |
| GSTR-3B (Taxpayers obtaining GSTIN in the light of Notification No. 31/2018 dt. 06.08.2018) MONTHLY |
December, 2018 |
AS PER RECENT NOTIFICATION, WHAT IS THE LAST DATE FOR FILING THE GSTR-1 (MONTHLY) FOR THE MONTHS FROM JULY 2017 TO SEPTEMBER 2018?
A: 31st December 2018
B. 31st October 2018
Click here
Last date to participate: Sep 22, 2018
PREVIOUS WEEK'S WINNERS
Manoj Runwal, Nagaur
Rajeev Gupta, Alwar
Kavita Agarwal, Jaipur
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NOTIFICATIONS / AMENDMENTS
CUSTOMS – TARIFF
Notification No. 62/2018-Cus d.t 17.09.2018:
Seeks to further amend the third proviso to the Notification. No. 50/2017-Customs, dated the 30th June, 2017 and to delay implementation of the retaliatory duties till 2nd Nov 2018.
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Notification No. 61/2018-Cus d.t 14.09.2018:
Seeks to further amend the Notification No. 73/2005 - Customs, dated the 22nd July, 2005 and Notification No. 10/2008- Customs, dated the 15th January, 2008 to bring about necessary changes as per the second protocol amending the India Singapore Comprehensive Economic Cooperation Agreement.
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Notification No. 60/2018-Cus d.t 11.09.2018:
Seeks to amend notification No. 158/95-Customs dated 14th November, 1995 to allow re-import of certain indigenously manufactured electronic goods, for repair and reconditioning within seven years from the date of exportation, without payment of basic customs duty subject to the condition that the goods are re¬-exported back after repair and reconditioning within one year from the date of re-importation.
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CUSTOMS - NON-TARIFF
Notification No. 79/2018-Cus (NT) d.t 14.09.2018:
Seeks to amend Customs Tariff Determination of Origin of Goods under the Comprehensive Economic Cooperation Agreement between the Republic of India and Republic of Singapore Rules, 2005. Principal notification No. 59/2005-Customs (N.T.) dated 20th July, 2005.
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Notification No. 78/2018-Cus (NT) d.t 14.09.2018:
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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CUSTOMS – ANTI-DUMPING DUTY
Notification No. 47/2018-Cus (ADD), dt. 14.09.2018:
Seeks to rescind Notification No. 10/2017-Customs (ADD) dated 24th March, 2017.
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Notification No. 46/2018-Cus (ADD), dt. 13.09.2018:
Seeks to impose definitive anti-dumping duty on the imports of "Flat Base Steel Wheels" originating in or exported from China PR for a period of 5 years at prescribed rates.
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Notification No. 45/2018-Cus (ADD), dt. 13.09.2018:
Seeks to rescind notification No. 3/2013-Customs (ADD) dated 26.03.2013.
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CUSTOMS – CIRCULARS
Circular No. 32/2018, dt. 17.09.2018:
Amendment to Circular 52/2017-Customs dated 22.12.2017 to expand the scope of the Circular
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CUSTOMS – INSTRUCTIONS
F.No. 354/31/2018-TRU(Pt), dt. 13.09.2018:
Safeguard duty on solar cells whether or not assembled in modules or panels.
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CGST
Notification No. 51/2018-Central Tax dt. 13.09.2018
Seeks to bring section 52 of the CGST Act (provisions related to TCS) into force w.e.f 01.10.2018
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Notification No. 50/2018-Central Tax dt. 13.09.2018
Seeks to bring section 51 of the CGST Act (provisions related to TDS) into force w.e.f 01.10.2018
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Notification No. 49/2018-Central Tax dt. 13.09.2018
Notification amending the CGST Rules, 2017 (Tenth Amendment Rules, 2018)
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CGST- CIRCULARS
Circular No. 65/2018-Central Tax dt. 14.09.2018>
Guidelines for Deductions and Deposits of TDS by the DDO under GST
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Circular No. 64/2018-Central Tax dt. 14.09.2018
Modification of the procedure for interception of conveyances for inspection of goods in movement, and detention, release and confiscation of such goods and conveyances, as clarified in Circular Nos. 41/15/2018-GST dated 13.04.2018 and 49/23/2018-GST dated 21.06.2018.
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Circular No. 63/2018-Central Tax dt. 14.09.2018
Clarification regarding processing of refund claims filed by UIN entitles
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Circular No. 62/2018-Central Tax dt. 12.09.2018
Levy of GST on Priority Sector Lending Certificate.
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CGST- ORDERS
Order No. 04/2018- GST dt. 17.09.2018>
Extension of time limit for submitting the declaration in FORM GST TRAN-1 under rule 117(1A) of the Central Goods and Service Tax Rules, 2017 in certain cases
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DELHI BENCH
DCIT, Central Circle-1, Faridabad vs Star Wire Ind. Ltd., New Delhi
The Income Tax Appellate Tribunal (ITAT), Delhi bench has held that penalty under Section 271AAA of the Income Tax Act, 1961 cannot be levied if assessee surrendered the income during the course of assessment proceedings.
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DELHI BENCH
ACIT, Circle-II, Block-B, Faridabad vs Lakhani India Ltd, Faridabad
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) has held that the architect fees paid by the assessee for the construction of the building which was not used for the purpose of the business for the relevant assessment year would be treated as capital expenditure. The bench further noted that depreciation was allowed to the assessee on the amount.
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HYDERABAD BENCH
M/s. Telukunta Chandra, Mohan Rao (HUF), Secunderabad vs Income Tax Officer, Ward 10(5), Hyderabad
The Income Tax Appellate Tribunal (ITAT), Hyderabad bench has held that the land owner is liable to pay capital gain in the year in which the actual possession of the land was transferred to the developer under the Joint Development Agreement.
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JAIPUR BENCH
Income Tax Officer, Ward-4, Bharatpur vs Kapil Mittal, Dholpur
The Jaipur bench of the Income Tax Appellate Tribunal (ITAT) has held that a transaction cannot be treated as bogus only on the basis of the report of Investigation Wing.
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Income Tax
Prabhat Agarwal v. Deputy Commissioner of Income Tax
The Delhi High Court in the case of Prabhat Agarwal v. Deputy Commissioner of Income Tax held that the reasons were not recorded before the impugned notice was issued and ordered the concerned Chief Commissioner to cause an inquiry to be conducted as to the involvement of the officials or employee in the manipulation of the record in this case, and take strict disciplinary action, according to the concerned rules and regulations.
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GST
Filco Trade Centre (P.) Ltd. vs Union of India
Gujarat High Court held first stage dealers are eligible to avail benefit of cenvat credit in relation to goods which were purchased prior to one year from date when GST came into effect.
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GST ADVANCE RULING
Sterlite Technologies Ltd., AAR, Maharashtra
Authority for advance Ruling cannot admit an application where question raised in application is already pending or decided in any proceedings in case of an applicant under any provisions of the Act. Whether thus, where proceedings pertaining to charge of GST on excess length of optical fibre inspite of fact that cost of such excess length was already included in standard price charged to customers was pending before department, as an Anti-Evasion investigation was already under way against applicant on same issue, instant application would not be taken up by authority.
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NATIONAL ANTI-PROFITEERING AUTHORITY
Pawan Sharma vs Sharma Trading Company
Where respondent, a HUL distributor, was fully aware of Notification dated 14-11-2017 whereby rate of GST was reduced on Vaseline VTM 400ml from 28% to 18% and was also fully aware of provisions of section 171 of CGST Act whereby he was bound to pass on benefit of reduction in rate of tax by commensurate reduction in price of product but had deliberately acted in defiance of law by not passing benefit of reduction in rate of tax by lowering price of Vaseline VTM 400 ml and, therefore, penalty was to be imposed on respondent under section 122 of the CGST Act.
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Press Note on appointment of Justice Ranjan Gogoi as next Chief Justice of India.
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Press Note on Government initiates consolidation – amalgamated entity to be India’s third largest bank
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Press Note on Examination for Confirmation of Enrollment of GST Practitioner
Read More
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Press Note on Exemption to Interest Income on Specified Off-shore Rupee Denominated Bonds
Read More
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Press Note on Auction for Sale (Re-issue) of Government Stocks
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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