Major Decisions taken by the GST Council in its 32nd Meeting

The GST Council in its 32nd Meeting held today under the Chairmanship of the Union Minister of Finance & Corporate Affairs, Shri Arun Jaitley in New Delhi took the...

GST on Solar Power Generating plant and other Renewable Energy Plants

To resolve the dispute inirespect of the GST Liability on Solar Power Generating Plant and other Renewable Energy Plants, the GST Council in it’s 31st meeting held on 22nd...

Policy Decisions made during 31st Meeting of the GST Council dated 22-12-2018

The GST Council in its 31st meeting held today at New Delhi made the following policy recommendations: There would be a single cash ledger for each tax head. The modalities...

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...

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