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Goods and Services Tax Monthly Newsletter, Volume 1, Issue V (June, 2018)

Vide Circular No. 45/18/2018-CGST dated May 30, 2018, CBIC issued clarifications on a few refund related issues and explained that the restriction imposed, regarding non-availment of benefit of certain specified Notifications, is to make sure that the exporter does not utilize the ITC availed on other domestic supplies received for making the payment of IGST on export of goods.

Author : BSA Taxation Team
Date : June 1, 2018
 
 
Goods and Services Tax Monthly Newsletter, Volume 1, Issue IV (May, 2018)
Government notified that no E-way bill is required on movement of goods within union territories, Andaman & Nicobar Islands, Chandigarh, Dadra & Nagar Haveli, Daman & Diu, and Lakshadweep
Author : BSA Taxation Team
Date : May 1, 2018
 
 
Goods and Services Tax Monthly Newsletter, Volume 1, Issue III (April,2018)
Central Govt. vide Notification No. 12/2018-Central Tax dated March 7, 2018, amended CGST Rules 2017 to substituting Rules 138, 138A, 138B, 138C, and 138D pertaining to E-way Bills along with Forms thereto. Inter alia allowing transporter on an authorization from registered person, and an e-commerce operator or courier agency on an authorization from consignor, to furnish information in Part A of Form GST EWB-01
Author : BSA Taxation Team
Date : April 1, 2018
 
 
Goods and Services Tax Monthly Newsletter, Volume 1, Issue II (March 2018)
Finmin vide circular no. 33/07/2018 dated February 23, 2018, has clarified that the credit carried forward pertaining to which a show cause notice was issued under Rule 14 of the CENVAT Credit Rules, 2004, and pertaining to which  the last adjudication order or last order in appeal, as it existed on July 1, 2017, held that such CENVAT credit is not admissible, then such CENVAT credit shall not be utilized by a registered person. 
Author : BSA Taxation Team
Date : March 1, 2018
 
 
Goods and Services Tax Monthly Newsletter, Volume 1, Issue 1 (February 2018)
Finmin vide Notification No. 01/2018- Central Tax dated January 1, 2018, reduced the composite tax rate for the manufacturer from one percent to half percent of the total turnover. Further, the composite tax rate for suppliers other than works contractor and manufacturer has been reduced from half percent of the turnover to half percent of the total turnover of taxable supplies. 
Author : BSA Taxation Team
Date : February 1, 2018
 
 
 
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