GST CLARIFICATION – AVAILMENT OF INPUT TAX CREDIT UNDER GST

The government has issued following clarification in respect of the AVAILMENT of the Input Tax Credit under GST:-   Last date to avail input tax credit in respect of...

EXEMPTION TO EDUCATION INSTITUTIONS UNDER GST ON SERVICES PROVIDED TO ITS STUDENTS, STAFF & FACULTY

FAQ 1 – Which Education Institution can claim Exemption under GST? Reply – An education institution defined under Para 2 (y) of the Notification No. 12/2017 – Central Tax (Rate)...

COMPANY LAW – REDUCTION IN FEES FOR DELAYED FILLING OF DIRECTORS E-KYC IN DIR-3 KYC

Deadline to re-activate Directors DIN after filling DIR-3 KYC with reduced Fees Of Rs. 500/- has been granted till 05-10-2018. From 6th October, 2018, the Fees will be Rs....

IS GST APPLICABLE ON UP-FRONT PAYMENT FOR LONG TERM LEASE OF IMMOVABLE PROPERTY?

This issue has been settled by law, that Up-Front Payment for Long Term Lease (for e.g. 30, 60 or 99 Years) of an Immovable Property viz. Land, Building etc is...

GST – Scope of Principal-agent relationship in the context of Schedule I of the CGST Act

In terms of Schedule I of the Central Goods and Services Tax Act, 2017 (hereinafter referred to as the “CGST Act”), the supply of goods by an agent on...

Last date for filing GSTR-1 for July 2017 to Sep 2018 extended till Oct 31, 2018

The Central Board of Indirect Taxes and Customs (“CBIC”) has issued a Notification No. 43/2018, 44/2018, 45/2018, 46/2018, 47/2018 and 48/2018 – Central Tax Dated September 10, 2018. The...

WHY PAN CARD IS REQUIRED

Section 139A of the Income Tax Act, 1961, prescribes the conditions when a person is required to apply for a PAN Card.   Section 139A is noted below for...

GST : RE-OPENING THE MIGRATION WINDOW

The GST Council in its 28th Meeting on 21-07-2018, has recommended to re-open the migration window for taxpayers, who have received provisional IDs but could not complete the migration...

GST Rate Slab on Hotel Rooms – On Actual Tariff (Transaction Value) instead of Declared Room Tariff

In a major relief to the Hotels and Hospitality Industry, GST Council in its 28th Meeting held on 21st July, 2018, has announced that the GST Rate Slab on...

AMENDMENTS IN COMPANY LAW COMPLIANCE BY MCA

The Ministry of Corporate Affairs has issued several notifications for better compliance, monitoring and ease of doing business. The gist of notification are noted below for ready reference below:- Gist of...

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The Views expressed on this blog are strictly personal and for knowledge of our clients only. The contents of this blog are solely for informational purpose and it does not constitute any professional advice or recommendation. The laws related to GST and other taxes are under evolution and subject to constant changes and amendments over time. It is suggested to take specific legal advice and necessary due diligence before relying on the contents and information of this Blog. The authors of this blog, does not accept any liabilities for any loss or damage of any kind arising out of information on this blog and for any actions taken in reliance thereon.