Posted On:  3 weeks ago


Top 9 landmark cases and judgments that brought a change in India

Vodafone was embroiled in a $2.5 billion tax dispute over its purchase of Hutchison Essar Telecom services in April 2007.  The transaction involved purchase of assets of an Indian Company, and therefore the transaction, or part thereof was liable to be taxed in India as per the allegations of tax department. Vodafone Group entered India in 2007 through a subsidiary based in the Netherlands, which acquired Hutchison Telecommunications International Ltd’s

article author Dharmesh Jain

Posted On:  3 weeks ago


Migration to GST of existing Central Excise I Service Tax Assessees

Please refer to my DO letter IV(33) 16/2016-Systems dt. 27th Jan, 2017 on the above subject regarding setting up GST Migration Seva Kendras for smooth transition of existing taxpayers to GST.

article author One Roof Consultant

Posted On:  4 weeks ago


GST Migration: Allotment of Provisional Id & Access Token to Maharashtra dealers

As per the above referred Trade Circular 35T of 2016, dt. 12-11-2016 & Trade Circular 2T of 2016, dt. 06-01-2017, the activity of Distribution of Provisional Id and Access Token for Phase 1 and Phase 2 dealers has been started from 14-11-2016 and 06-01-2017 respectively.

article author One Roof Consultant

Posted On:  1 month ago


Government launches GST App to facilitate smooth transition to new tax regime

The Finance Ministry on Thursday launched a mobile app for Goods and Services Tax so as to provide updates to taxpayers on the new tax regime which is to be rolled out from July 1. From helping taxpayers in the migration to GST, providing toll free numbers and videos and reading material on GST to putting up draft laws and rules, the app called the CBEC GST app aims to help taxpayers and address their concerns about the new indirect tax regime. The GST mobile app launched by the ministry can be downloaded for free on Android platforms. The iOS version will be made available shortly, an official statement said

article author CA Chirag Chauhan

Posted On:  1 month ago


Professionals will require Tax Audit if they are showing Income less than 50% of Receipts - Section 44ADA

Introduction of presumptive scheme for Professionals The Justice Easwar Committee has recommended a new scheme for professionals in line with existing Presumptive Scheme for person engaged in Business. The Committee was of the view that this scheme is quite popular amongst small traders. It was felt that there is a strong case for introducing a similar simplified presumptive income scheme for professionals.

article author CA Chirag Chauhan

Posted On:  1 month ago


GST daily Update: Returns-I Section 32: Furnishing details of outward supplies

Every registered taxable person, other than an input service distributor, a nonresident taxable person and a person paying tax under the provisions of section 9, section 46 or section 56, shall furnish, electronically, in such form and manner as may be prescribed, the details of outward supplies of goods or services effected, during a tax period on or before the tenth day of the

article author CA PRADEEP JAIN

Posted On:  1 month ago


GST daily Update: Section 104 interest on refund of pre-deposit:-

This section pertains to refund on mandatory pre-deposit made at first appellate authority and tribunal. This section states that where an amount deposited by the appellant under sub-section (6) of section 98 or under sub-section (9) of section 101 is required to be refunded consequent to any order of the First Appellate Authority or of the Appellate Tribunal, as the case may be, interest at the rate specified under section 50 shall be payable in respect of such refund from the date of payment of the amount till the date of refund of such amount. This provision is similar to present provisions contained in section 35F

article author CA PRADEEP JAIN

Posted On:  1 month ago


GST updates definition of First Stage and Second stage Dealer

Taking further to our discussion, we are continuing our discussion the definitions given under Section 2 of revised GST law and comparing the same with old model GST law to know the changes made in revised law

article author CA PRADEEP JAIN

Posted On:  1 month ago


GST update definition of Outward supply and Zero Rated Supply

“Outward Supply” in relation to a person, shall mean supply of goods or services, whether by sale, transfer, barter, exchange, licence, rental, lease or disposal or any other means made or agreed to be made by such person in the course or furtherance of business;”

article author CA PRADEEP JAIN

Posted On:  1 month ago


GST daily dose of updation Appeals- part I section 101 appeals to appellate tribunal

The provisions relating to filing of appeal to the appellate tribunal are discussed in this update. The appeal provisions prescribing time limit for filing appeal to Tribunal are similar to that for filing appeal to first appellate authority with the distinction that the first appellate authority can condone delay in filing appeal upto one month but Tribunal can condone delay in filing appeal for any duration. The provisions regarding mandatory pre-deposit are similar to that of filing appeal to first appellate authority that have already been discussed in our earlier update.

article author CA PRADEEP JAIN

Posted On:  2 months ago


Budget Speech by Finance Minister Arun Jaitely 1 Feb 2017 FY 2017-18

our Government was elected amidst huge expectations of the people.The underlying theme of countless expectations was good governance.  The expectations included burning issues like inflation and price rise, corruption in day to day transactions and crony capitalism. There was also expectation for a major change in the way the country’s natural resources were allocated, processed and deployed.

article author CA Chirag Chauhan

Posted On:  2 months ago


100 Key Highlights of Union Budget 2017 presented by FM Arun Jaitely FY 2017-18

100 Key Highlights of Union Budget 2017 presented by FM Arun Jaitely FY 2017-18

article author CA Chirag Chauhan

Posted On:  2 months ago


Definition of Principal place of business, Proper Officer and Services

Taking further to our discussion, we are continuing our discussion the definitions  given under Section 2 of revised GST law and comparing the same with old model GST law to know the changes made in revised law

article author CA PRADEEP JAIN

Posted On:  2 months ago


Master Directions on Access Criteria for Payment Systems

A reference is invited to our circular DPSS.CO.OD.494/04.04.009/2011-2012 dated September 21, 2011 prescribing the Access Criteria for Payment Systems. These Master Directions, being issued under Section 10(2) read with Section 18 of Payment and Settlement Systems Act 2007 (Act 51 of 2007), consolidate and update all the instructions issued on the subject up to December 31, 2016 and placed on the web-site of the Reserve Bank of India (www.rbi.org.in

article author One Roof Consultant

Posted On:  2 months ago


GST update on value of taxable supply

Adjudicating Authority means any authority competent to pass any order or decision under this Act, but does not include the Board, the Revisional Authority, Authority for Advance Ruling, Appellate Authority for Advance Ruling, the First Appellate Authority and the Appellate Tribunal

article author CA PRADEEP JAIN

Posted On:  2 months ago


GST- Most of the issues been resolved: FM

On demonetization, Finance Minister Shri Arun Jaitley says that difficult decisions initially pass through difficult phases as historic decisions have temporary pain attached to them. Stressing the implementation of GST, FM says that most of the issues have been resolved; few critical issues are left which will be resolved in the next few weeks.

article author One Roof Consultant

Posted On:  3 months ago


Pre-Budget consultations with FMs of all States/ UTs

The Union Finance Minister Shri Arun Jaitley holds Pre-Budget consultations with the Finance Ministers of all States/ UTs (with legislature); FM: Various steps taken by the Central Government in recent past to unearth black money will help in curbing corruption and making the Indian economy more cleaner, transparent and efficient; Asks the States to work together for putting India on the path of higher growth

article author One Roof Consultant

Posted On:  3 months ago


Full/Partial exemption of late fee under section 20(6) of MVAT Act, for late returns

Goods and Services Tax Act shall be implemented soon. After the implementation of the GST, many state taxes would be subsumed in GST. Most of the existing registered dealers would get registration under GST. The Department is earnestly trying to dispose off the old pending work so that we can focus on smooth implementation of GST in the state. The Department is also actively upgrading the automation processes. At the same time, the dealers also must have started preparations in view of the forthcoming GST

article author One Roof Consultant

Posted On:  3 months ago


Enrolment under the new Goods and Service tax (GST) law

I am an existing taxpayer registered under Excise, Service Tax and State Tax Laws such as VAT, Entry Tax, Luxury Tax and Entertainment Tax. I received SMS/ E-Mail with Provisional ID and Password. What are next steps for me? How do I begin to enrol with the GST Common Portal with Provisional ID and Password? All the existing taxpayers and VAT dealers will be given a provisional ID and password. You need to first create your user name and password using the provisional ID and password at the GST common portal – www.gst.gov.in

article author One Roof Consultant

Posted On:  3 months ago


How to register or update Digital signature certificate (DSC) and other user services under the new Goods and Service Tax (GST) common portal?

A. Procedure to register DSC on the GST common portal: I have procured a DSC. How can I register my DSC with the GST Common Portal? To register your DSC with the GST Common Portal, you need to perform the following steps:  1. Access the www.gst.gov.in URL. The GST Home page is displayed.

article author One Roof Consultant