Posted On:  7 days ago


Now you can log Complain if Restaurant is charging GST more than 5%

The Government is in GST Council meeting held on 10 November 2017 has decided to reduce rate on 150+ items. The major change was in relation to restaurants service provider. The rate on restaurant was 18% which was reduce to just 5%   The reduction is effective from today 15 November 2017. Goods and Services Tax (GST) rates on Restaurant’s will be 5% from existing 18% from

article author CA Chirag Chauhan

Posted On:  2 months ago


CLSS: Under The Realty Radar

Credit Linked Subsidy Scheme (CLSS) aims at giving an impetus to the middle-income group in order to realise its home-buying dream

article author CA Chirag Chauhan

Posted On:  2 months ago


On Blockage of Working Capital of Exporters

There are lots of apprehensions expressed in the media about the problem of blockage of working capital for exporters’ post-GST. There are various figures also being discussed on the blockage of such funds, which are wild estimates. Such media reports are not based on facts

article author CA Chirag Chauhan

Posted On:  2 months ago


Lodging of tax arrear claims and impleading as a party before NCLTs

Recently, a case has come to the notice wherein the Hyderabad Bench of NCLT has passed an order under section 30(6) and 31 of IBC-2016 allowing various reliefs under the Income Tax Act without even making the Department a party to the dispute. The steps to contest the same are being initiated separately.

article author One Roof Consultant

Posted On:  2 months ago


Companies (Restriction on number of layers) Rules, 2017

If any company contravenes any provision of these rules the company and every officer of the company who is in default shall be punishable with fine which may extend to ten thousand rupees and where the contravention is a continuing one, with a further fine which may extend to one thousand rupees for every day after the first during which such contravention continues.

article author One Roof Consultant

Posted On:  2 months ago


UTGST Rate on Works Contract Services provided to Govt. for non commercial purpose

A residential complex predominantly meant for self-use or the use of their employees or other persons specified in paragraph 3 of the Schedule III of the Central Goods and Services Tax Act, 2017.

article author One Roof Consultant

Posted On:  2 months ago


IGST Rate on Works Contract Services provided to Govt. for non commercial purpose

Services provided to the Central Government, State Government, Union Territory, a local authority or a governmental authority by way of construction, erection, commissioning, installation, completion, fitting out, repair, maintenance, renovation, or alteration

article author One Roof Consultant

Posted On:  2 months ago


On Branded Food Products & amp.; Actionable Claim

The GST Council, in its 21st meeting held on 9th September, 2017at Hyderabad has, interalia, recommended that for 5% GST rate on cereals, pulses and flours etc.

article author CA Chirag Chauhan

Posted On:  2 months ago


CBEC reduces CGST rate on specified supplies of Works Contract Services

CBEC Seeks to amend notification No. 11/2017-CT(R) to reduce CGST rate on specified supplies of Works Contract Services vide Notification No. 24/2017-Central Tax (Rate) dated : 21st September, 2017

article author One Roof Consultant

Posted On:  2 months ago


Guidelines for division of GST taxpayers between Central & state govt

Based on the decisions taken in the 9th Meeting of the GST Council held on 16 January, 2017 and 21st Meeting of the GST Council held on 9 September, 2017, the following criteria should be followed for the division of taxpayer base between the Center and the States to ensure single interface:

article author One Roof Consultant

Posted On:  2 months ago


TDS on interest under Capital Gains Accounts Scheme of deceased depositor

TDS oh the interest income accrued for and upto the period of death of the depositor is required to be deducted and reported against PAN of the depositor.

article author One Roof Consultant

Posted On:  2 months ago


GST: Clarification on one third deemed deduction on transfer of Land

Real Estate projects based on Joint Venture Agreements entered into by a Developer and a Land Owner, if otherwise legal and proper as per the governing laws, are also eligible for the deemed deduction as specified in para 2 supra. However the said deemed deduction is not available for units transferred to the Land Owner by the Developer.

article author One Roof Consultant

Posted On:  2 months ago


Constitution of National Anti-profiteering Authority under GST

The Rules on anti-profiteering are contained in Chapter-XV (Rule 122 to Rule 137) of the Central Goods and Services Tax Rules, 2017 (Rules). As per Rule 122 of the Rules, the National Anti-profiteering Authority (NM) shall, apart from a Chairman, consist of four Technical Members who are or have been Commissioners of State Tax or Central Tax or have held an equivalent post under the existing law, to be nominated by the GST Council.

article author One Roof Consultant

Posted On:  2 months ago


Anti dumping duty on New/unused pneumatic radial tyres- Reg.

Levy of anti dumping duty on New/unused pneumatic radial tyres with or without tubes and/or flap of rubber (including tubeless tyres) having normal rim dia code above 16 originating in, or exported from China PR

article author One Roof Consultant

Posted On:  2 months ago


Composition scheme for Small Traders, Manufacturers, Restaurants

Tax payer who option for composition scheme ,have to file only one quarterly return with details of tot turnover .invoice with details are not necessary ,bill of supply will suffice .first such return for the quarter July - September ,2017 has to be filed by 18th October .Form GSTR-4A not to be filed for this quarter.

article author CA Chirag Chauhan

Posted On:  2 months ago


No additional burden on Home buyers under GST

The CBEC and States have received several complaints that in view of the works contract service tax rate under GST at 12% in respect of under construction flats, complex etc, the people who have booked flats and made part payment are being asked to make entire payment before 1st July 2017 or to face higher tax incidence for payment made after 1st July 2017. This is against the GST law. as explained below.

article author CA Chirag Chauhan

Posted On:  2 months ago


CBEC notifies rules for filing Revised GST TRAN-1

Provided that the said persons shall not be allowed to furnish the declaration in FORM GST TRAN–1 after the statement in FORM GST ITC–03 has been furnished.”;

article author One Roof Consultant

Posted On:  2 months ago


Registration exemption for ‘Inter-state Supply of Handicrafts’ notified by CBEC

The persons making inter-State taxable supplies mentioned in the preceding paragraph shall be required to obtain a Permanent Account Number and generate an e-way bill in accordance with the provisions of rule 138 of the Central Goods and Services Tax Rules, 2017.

article author One Roof Consultant

Posted On:  2 months ago


GST FAQ on Government Services

These include services provided by government or a local authority or governmental authority by way of any activity in relation to any function entrusted to a municipality under Article 243W of the Constitution and services by a governmental authority by way of any activity in relation to any function entrusted to a Panchayat under article 243G of the Constitut

article author CA Chirag Chauhan

Posted On:  2 months ago


GST on Charitable and Religious Trusts

The provisions relating to taxation of activities of charitable institutions and religious trusts have been borrowed and carried over from the erstwhile service tax provisions. All services provided by such entities are not exempt. In fact, there are many services that are provided by such entities which would be within the ambit of GST.

article author CA Chirag Chauhan