GST Update – Circulars issued by CBIC related to returns & invoices

GST Policy Wing, CBIC has issued three circulars on 18th February, 2019 as listed below in brief. Circular No. 90/09/2019 - GST dated 18-02-19:  All registered persons making supply of goods or services or both in the course of inter-State trade or commerce to specify the place of supply along...

Penalty u/s 271I – Non furnishing of Form 15CA and Form 15CB

Notice u/s 271I states that if the assessee has failed to furnish information or has furnished inaccurate information u/s 195(6) in form of filing of Form 15CA and 15CB, there is a penalty for Rs. 1,00,000/- for each such default. Now, previously Form 15CA and 15CB needn’t be submitted in the case...

Court ordered to release the goods detained against execution of simple bond on the grounds of procedural lapse in e-way bill

In the case of Stove Kraft Pvt. Ltd. Vs. Assistant State Tax officer, Kerala High Court held that both goods and vehicle detained by state tax officer should be released on execution of simple bond on the ground that goods have been detained merely due to error/ lapse in documentation (e-way bill). The Court taken practical view...

Representation against contention of GST Department for interest liability u/s. 50 on ITC component

A recent “Standing Order” No.01/2019 issued by the Principal Commissioner of Central Tax, Hyderabad on 04-02-2019, instructs GST Tax Officials and field formation Officers to inquire into cases of late filing of returns, where asseseees has paid interest only on the net tax liability of GST and further instructing to issue recovery notices u/s 79 of CGST/SGST Act in all...

Disallowance of expenses cannot exceed exempt income u/s 14A r.w.s rule 8D

Brief Facts of the case Facts of  the  case,  in  brief,  are  that  the  assessee  is  a  private limited company engaged in the business of processing and export of fresh/frozen meat and  manufacturing  of  poultry  feed  and tallow. It filed its return of income on 30.09.2011 declaring Nil income. ...

Draft written submission before appellate authority for penalty levied u/s 271(1)(b)

It has been observed that in many cases, system generated show cause notice issued u/s 271(1)(b), proposing to levy a penalty of Rs. 10,000/- for non-compliance of notice u/s 142(1), during online scrutiny proceeding. And thereafter, penalty order is passed after imposing the said penalty u/s 271(1)(b) Now the issue that is...

Recent Changes on GSTN Portal

Following updates have been made on GSTN portal recently.  Auto population of data from E-way Bill portal to GST portal in form GSTR-1   It is possible to import details of outward supply invoices, as indicated in the e-way bill, at the time of preparation of Form GSTR-1, by clicking...

Highlights of Tax Proposals and other Legal Pronouncements in Interim Union Budget 2019

Below is the highlight of Tax Proposals and other Legal Pronouncements as announced in Interim Union Budget on 1st February, 2019. Being the interim budget, and with parliamentary elections due in April-May 2019, no legislative measures for change in tax structure is proposed at present. However, on the administrative front, a number of initiatives have been taken...

Important Amendments in GST – Effective from 1st February, 2019

Threshold limit for the Composition Scheme increased to Rs. 1.50 crores and if the proportion of service during the previous financial year is not more than 10% of total revenue or Rs. 5 lakhs, whichever is higher, the person can avail composition scheme (other than restaurant service) Input tax credit of GST paid on...

Revenue from sale of goods & services offered by Charitable Trusts attract GST – Appellate Authority for Advance Ruling

The Appellate Authority for Advance Ruling (AAAR), Maharashtra has upheld an order of the Advance Ruling Authority stating that all the activities of supply goods and services by Charitable Trust are taxable under GST except those specifically exempted. It is further held that GST is payable on the supply of spiritual products/services by the Trust as the...
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