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THE EDGE
TAX & LEGAL UPDATE
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Vol 1, Part 10
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Wednesday, Nov 01, 2017
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Weekly on GST, FSSAI, RERA & More...
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FROM EDITOR'S DESK
The news regarding extension of date for filing GSTR-2 and GSTR-3 to 30th November, 2017 and 11th December, 2017, respectively has given some temporary relief to the taxpayers and tax professionals. The Government should conduct more webinars and seminars in order to help the taxpayers in giving them a better understanding of the Return filing procedure. Trading with our neighbor countries i.e. Nepal & Bhutan has also been simplified as one can now receive the payments in INR while providing Services as well. As we are going ahead with the implementation of GST the Government is taking steps to make the process smoother and user friendly. But the question is: is it enough? Only time will tell. We are highly grateful to our readers who add value to our newsletter and guide us with their suggestions and recommendations.
Please contact us at contact@ghiya.in
PANKAJ GHIYA, ADVOCATE
Mobile: +91 98290 13626
TIMELINES
Upcoming due dates under GST & Income Tax Laws:
| GSTR-4 (July-Sep, Composition Dealers) |
15th Nov (No need to file GSTR-4A) |
| GSTR-6 (July-Sep, Input Service Distributor) |
15th Nov |
| GSTR-5A (OIDAR) |
20th Nov |
| GSTR-3B (Oct) |
20th Nov |
| GST TRAN-1 (with revision facility) |
30th Nov |
| GST ITC-04 |
30th Nov |
| GST ITC-04 |
30th Nov |
| GST CMP-03 |
30th Nov |
| GSTR-2 (July) |
30th Nov |
| GSTR-3 (July) |
11th Dec |
| GSTR REG-26 (July) |
31st Dec |
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FORTHCOMING EVENTS
10th Nov 2017
The Society of Construction Law - 7th International Conference
Know More
2nd-3rd Dec 2017
AIFTP National Tax Convention at Jabalpur - To be inaugrated by Hon'ble Chief Justice of India
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MISCELLANEOUS
@AskGST_GoI FAQ Tweets:
FAQs on Commodities
Other Updates:
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Bank's SLR to include Sovereign Gold Bond acquired through lien/hypothecation/pledge.
Read More
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GST portal now allows migrated Tax payers to cancel their provisional registrations.
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List of Holidays for the year 2017-18 issued by the Rajasthan Government.
Read More
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Weekly Quiz
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RECENT PUBLICATIONS
GST Law & Practice, 4th Edition, Released at National Tax Conference, Kolkata by Hon'ble Mr. Justice A.K.Goel Judge, Supreme Court of India on 02.09.2017
Buy Now
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ITAT JUDGEMENTS
Smt. Amina Ismil Rangari VS. Income Tax Officer, Ward 17(2)4 - [2017] (Mumbai - Trib.)
Claim of exemption raised by an assessee under section 54F in a belated 'return of income' filed in compliance to a notice issued under section 148 is allowable
Read More
Assistant Director of Income Tax (International Taxation), Range 4(1) VS. Merril Lynch Capital Market Espana S.A.S.V. [2017]
Investment income of assessee was not taxable in India as per article 14(6) of Indo-Spain tax treaty, and that gain on forex transaction entered in to hedge investment in securities was capital gains and not taxable in India
Read More
Sidha Sthan Shri Kapaleshwar Mahadev Sanyas Ashram Trust, Mela Ground, Pushkar, Ajmer vs. The Commissioner of Income Tax (Exemptions) Jaipur dt. 28.09.2017
Counsel : Sh. Mahendra Gargieya, Adv
Refusal to grant registration u/s. 12AA and exemption u/s. 80G of the Act. Appeal allowed and matter remanded.
Read More
READER'S TESTIMONIALS
"I have been receiving your e-paper via email for some time. I am impressed by the quality and content published by you. Congratulations and kudos for the good work. Thanks"
- Mr. Sundeep Khandelwal
"It's a commendable step by any professional ever taken."
- Mr. Avinash Kamani, Jaipur
RECENT AMENDMENTS
GST - CENTRAL TAX
Earlier GST Notifications
Notification No. 50/2017-Central Tax dt. 24.10.2017
Regarding waiver of late fees on delayed filing of GSTR-3B for August & September.
Read More
Notification No. 51/2017-Central Tax dt. 28.10.2017
Regarding Eleventh Amendment to the CGST Rules, 2017.
Read More
Notification 52/2017 Central Tax dt. 28.10.2017
Regarding extension of Filing of submissions in FORM GST ITC-1.
Read More
Notification 53/2017 dt. 28.10.2017
Regarding extension of Filing of submissions in FORM GST ITC-4.
Read More
Notification No. 54/2017-Central Tax dt. 30.10.2017
Seeks to amend Notification no. 30/2017-Central Tax dated 11.09.2017 so as to extend the due date for filing FORM GSTR-2 and FORM GSTR-3 for the month of July, 2017
Read More
GST - INTEGRATED TAX (RATE)
Notification No. 42/2017-Integrated Tax (Rate) dt. 27.10.2017
Regarding exemption from payment of IGST on inter-state Supply of Service to Nepal and Bhutan where payment is received in INR.
Read More
CGST - CIRCULARS & ORDERS
Circular No. 12/2017 dt. 26.10.2017
Regarding clarification of the applicability of GST on the superior kerosene oil [SKO] retained for the manufacture of Linear Alkyl Benzene [LAB].
Read More
Circular No. 13/2017 dt. 27.10.2017
Regarding clarification on classification of cut pieces of fabric under GST.
Read More
Order 5/2017-GST dt. 28.10.2017
Regarding extension of time limit for intimation of stock under FORM GST CMP-03.
Read More
Order 6/2017-GST dt. 28.10.2017
Regarding extension of time for filing application under FORM GST REG-26.
Read More
Order 7/2017-GST dt. 28.10.2017
Extension of time limit to file declaration in FORM GST TRAN-1 under Rule 117. (Filing of TRAN-1)
Read More
Order 8/2017-GST dt. 28.10.2017
Extension of time limit to file declaration in FORM GST TRAN-1 under Rule 120A. (Revision of TRAN-1)
Read More
FSSAI
Notification dt. 24.10.2017
Gazette Notification on general standards of Milk and Milk Products.
Read More
FROM THE BENCH
GST
Metro Institutes of Medical Sciences Pvt Ltd Vs State of Uttar Pradesh
Petitioner has not been issued Provisional ID and Password for GST migration. Due to which he is unable to migrate, file returns and pay tax. High Court directed the respondent authority to immediately issue a password to the petitioner company for completing migration process on the GST Portal for uploading its returns and to deposit the due tax – Petition allowed
Read More
INCOME TAX
Saheb Ram Om Prakash Marketing (P.) Ltd. Vs. Commissioner of Income-tax
HC set-aside reassessment as proceeding was to be completed within 60 days if limitation period had expired.
Read More
SERVICE TAX
Commissioner of Central Excise & Service tax, Jaipur vs. BMD (P) Ltd.
Advising & assisting services received from abroad were to be classified as 'Market research agency' services: SC
Read More
Commissioner of Central Excise & Service tax, Jaipur vs. M/s Teknomin Construction Ltd.
Issue: Whether Services provided by the Assessee will be taxable under "Mining Services" or "Site formation and clearance Service". CESTAT held in favour of the Assessee categorizing it as “Mining Services” and dropped the Service Tax demand. Appeal by Department admitted by SC after condoning delay.
Read More
RERA (MAHARASHTRA)
Dilip Purushottam Shirke vs. Kumar Builders Consortium dt. 26.10.2017
It was held that a case decided by a civil court cannot be reopened by RERA.
Read More
QUERIES @ GHIYA.IN
"Does e-commerce traders also get exemption from GST if volume is below 20 lacs per annum as per new regulation?"
- Mr. Sudhanshu
Answer: A trader supplying through an E-commerce operator and an E-commerce operator are required to be compulsorily registered under the provisions of GST irrespective of the threshold limit. See Section 24(ix) and (x) of CGST Act, 2017.
Export of goods to Nepal where payment received in Indian currency. Whether GST applicable or not? Assume goods send through buyers’ transporter by truck.
- Mr. Satendra Dusad
Answer: Export of goods to Nepal will be treated as zero rated, irrespective of whether the consideration is received in convertible foreign exchange or not. Refer to Clause (k) of Circular No. 8/8/2017-GST dt. 04.10.2017. The exports should also be reflected on the Customs Portal i.e. ICEGATE. For exports you can either take LUT and export goods without payment of IGST or pay IGST on exports and claim refund afterwards. Please refer Rule 96A of CGST Rules, 2017 for Refund process.
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Editorial Team :
Meenal Ghiya, Priyamvada Joshi, Ankit Agrawal, 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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