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THE EDGE
TAX & LEGAL UPDATE
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Vol 2, Part 22
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Wednesday, May 30, 2018
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Weekly on GST, FSSAI, RERA & More...
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Upcoming due dates under GST & Income Tax Laws:
| VAT 10A (FY 2016-17) |
31st May |
| VAT 11 (FY 2016-17) |
31st May |
| GSTR-3B (May, 2018) |
20th Jun |
| GSTR-6 (July, 17 – Apr, 18) |
31st May |
| VAT 11 (FY 2017-18) |
30th Jun |
| VAT 10A (FY 2017-18) |
30th Jun |
| Link Aadhar with PAN |
30th Jun |
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CENTRAL TAX
Notification No. 24/2018-Central Tax dt. 28-05-2018
Seeks to notify NACIN as the authority for conducting the examination for GST Practitioners under rule 83 (3) of the CGST Rules, 2017
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CENTRAL TAX (RATE) & INTEGRATED TAX (RATE)
Notification No. 11/2018-Central Tax (Rate) & Notification No. 12/2018-Integrated Tax (Rate) dt. 28-05-2018
Seeks to amend notification No. 04/2017- Central Tax (Rate) dated 28.06.2017 so as to notify levy of Priority Sector Lending Certificate (PSLC) under Reverse Charge Mechanism (RCM)
CGST Rate Notification
IGST Rate Notification
CUSTOMS
Notification No. 05/2018-Cus (NT/CAA/DRI) dt 28.05.2018
Appointment of Common Adjudicating Authority by DGRI
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Notification No. 44/2018-Cus (NT) d.t 24.05.2018
Amendment of Notification No. 40/2012-Customs (N.T.) dated 02.05.2012
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Notification No. 45/2018-Cus (NT) d.t 24.05.2018
Customs Audit Regulations, 2018
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Notification No. 46/2018-Cus (NT) d.t 25.05.2018
Regarding amendment in notification No. 89/2017-Cus (N.T.) dated 21.09.2017 relating to AIRs of Duty Drawback on Silver Jewellery and Silver Articles
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GST (CIRCULAR)
Circular No. 45/19/2018-GST dt.30.05.2018
Clarification on refund related issues
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CUSTOMS (CIRCULAR)
Circular No. 12/2018-Customs
Sanction of pending IGST refund claims where the records have not been transmitted from the GSTN to DG Systems
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ANTI DUMPING DUTY
Notification No. 28/2018-Cus (ADD), dt. 25-05-2018
Seeks to impose definitive anti-dumping duty on imports of 'Saturated Fatty Alcohols originating in, or exported from Indonesia, Malaysia and Thailand.
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Notification No. 29/2018-Cus (ADD), dt. 25-05-2018
Seeks to amend Notification No. 44/2017-Customs (ADD) dated 12th September, 2017.
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IMPORTANT INFORMATION REGARDING GST REFUND
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Special Refund Fortnight" to be organized from 31.05.2018 to 14.06.2018 in which Center and State GST officers will strive to clear all GST refund applications received on or before 30.04.2018
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All claimants are encouraged to approach their jurisdictional tax offices during the “Special Refund Fortnight” to clear any pending GST refund claims which were submitted on or before 30.04.2018
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All claimants may please note the refund application in FORM GST RFD-01A will not be processed unless a copy of the application is submitted to the jurisdictional tax office along with supporting documents. Mere online submission is not enough
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The “Special Refund Fortnight” is for all GST refunds, including refund of IGST paid on export of goods and all refund claims submitted in FORM GST RFD-01A on or before 30.04.2018
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Deputy Commissioner of Income-tax v. Shah Rukh Khan dt. 21.05.2018 [MUMBAI BENCH]
Claim raised by the assessee being clearly backed by a bonafide belief on his part, that the notional income of the villa was not liable to be taxed in India, on said count no penalty under section 271(1)(c) could have been validly imposed on the assessee.
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Jashojit Mukherjee v. Assistant Commissioner of Income-tax, Circle- 50, Kolkata dt. 04.05.2018 [KOLKATA BENCH]
Where assessee had not written back sundry creditors in his profit and loss account and had shown balance outstanding towards those creditors even in next assessment year, it could not be said that there was any cessation of liability under section 41(1)
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KPIT Cummins Global Business Solutions Ltd. v. Assistant Commissioner of Income Tax, Circle 11(1), Pune dt. 09.04.2018 [PUNE BENCH]
A fraud concern cannot be included in final set of comparables
A company engaged in e-publishing could not be compared with ITES provider
A company providing high-end KPO services and geographical information services was incomparable to ITES provider
Persistent loss making concerns are to be excluded from final set of comparables
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Director of Income-tax (IT) v. Modiluft Ltd. dt. 08.05.2018 [DELHI BENCH]
Assessee leased three aircrafts from a German company under a lease agreement. Before lease agreement, assessee had entered into a technical support agreement. In addition another agreement for provision for flight deck crews was also entered. Tribunal held that technical services charges payable to foreign company in Germany constituted business profit of foreign company and that same may not be taxable in India in terms of article III of DTAA between India and Germany. However, in view of fact that there existed a 'Fees for Technical Services' clause in agreement, their taxability in terms of Article VIIIA not having been examined in proper perspective, matter was to be remanded back to Tribunal for adjudication afresh
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ADVANCE RULINGS UNDER GST
Tathagat Health Care Centre LLP, In re dt. 21.03.2018 [AAR- KARNATAKA]
GST would be applicable on rental of premises taken on lease by hospital
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Skilltech Engineers & Contractors Private Limited, In re dt. 21.03.2018 [AAR- KARNATAKA]
Execution of works for construction of power lines, erection of transmission towers and transformer is of the nature of lndivisible and squarely falls under the works contract, which is a service.
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M/s Sayre Therapeutics Pvt. Ltd. In re, dt. 21.03.2018 [AAR- KARNATAKA]
Services of diagnosis, pre and post counseling, therapy and prevention of diseases by providing sophisticated and relevant tests qualifies to be health care Services attracting NIL rate of GST.
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M/s. Rajashri Foods Pvt. Ltd. In re dt. 23.04.2018 [AAR- KARNATAKA]
Transaction of transfer of one of the units of the applicant as a going concern amounts to supply of service and is covered @ Nil rate under Sl. No. 2 of the Notification 12/2017-CT(R) subject to the condition that the unit is a going concern.
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M/S. VPSSR facilities In re dt. 23.04.2018 [AAR – NEW DELHI]
Cleaning Services provided by the Applicant to the Indian Railways are not exempt under S. No. 3 of the Notification No. 09/2017-Integrated Tax (Rate) dated 28.06.2018 as amended by Notification No. 02/2018 -Integrated Tax (Rate) dated 25.01.2018 and parallel Notifications of CGST and SGST.
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M/s. Ahmednagar District Goat Rearing & Processing Co-Op federation Ltd. In re, dt. 21.04.2018 [AAR – MAHARASHTRA]
The whole (sheep / goat) animal carcass in its natural shape in frozen state in different weight and size packed in LDPE bags without mentioning the weight and one or two such LDPE bags further packed in HDPE bags being supplied to Army by Applicant against tender shall qualify as a product put up in “unit container” and is covered under Schedule Entry 4 of Notification No. 1-Integrated Tax (Rate) during the period 01.07.2017 to 13.11.2017 and Schedule Entry 1 of Notification No. 1-Integrated Tax (Rate) from 14.11.2017 onwards.
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Roll out of e-Way Bill system for intra-State movement of goods in the Maharashtra, Manipur and Union Territories (without legislature) from 25.05.2018
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No change in the GST Law and taxation relating to Farmers since July, 2017; support services to agriculture, forestry, fishing or animal husbandry are exempt from GST; Agriculturists are also exempt from taking registration under GST.
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Stakeholder engagement by the Task Force drafting the New Direct Tax Law extended by a period of three months up to June 15, 2018
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Tracking ARN for Exports is now available on GST Portal.
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E-Way Bill FAQs
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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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