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Recent Updates

CBIC - Press Release issued on 11/06/2019

 

CBIC has announced the transition schedule for rollout of new format of GST monthly returns.

CBIC - Press Release issued on 04/06/2019

 

Clarifications on filing on Annual Return (FORM GSTR-9).

Kerala Flood Cess postponed to 01/07/2019

 

The effective date of Kerala flood Cess implementation postponed to 01/07/2019.

Kerala Flood Cess levied from 01/06/2019

 

Levy of Flood Cess on B to C intra State supply, in Kerala, of goods and services is effective from 01/06/2019.

CBIC - Central Excise Circular issued on 08/05/2019

 

Revised Procedure for electronic filing of Central Excise returns and for electronic payment of Excise duty and Service tax arrears under the new portal www.cbic-gst.gov.in.

CBIC - CGST Notification issued on 11/05/2019

 

 Seeks to extend the due date for furnishing FORM GSTR-1 for taxpayers having aggregate turnover more than Rs. 1.5 crores for the month of April, 2019 for registered persons in specified districts of Odisha till 10.06.2019.

 Seeks to extend the due date for furnishing FORM GSTR-3B for the month of for the month of April, 2019 for registered persons in specified districts of Odisha till 20.06.2019.

CBIC - Notification issued on 10/05/2019

 

To amend notification No. 11/ 2017- Central Tax (Rate) so as to extend the last date for exercising the option by promoters to pay tax at the old rates of 12%/ 8% with ITC.

CBIC - Notification issued on 10/05/2019

 

To amend notification No. 8/ 2017- Integrated Tax (Rate) so as to extend the last date for exercising the option by promoters to pay tax at the old rates of 12%/ 8% with ITC.

CBIC - CGST Notification issued on 23/04/2019

 

 Seeks to make Third amendment, 2019 to the CGST Rules.

 Seeks to notify procedure for quarterly tax payment and annual filing of return for taxpayers availing the benefit of Notification No. 02/2019– Central Tax (Rate), dated the 7th March, 2019.

 Seeks to notify the provisions of rule 138E of the CGST Rules w.e.f 21st June, 2019.

CBIC - CGST Circular issued on 23/04/2019

 

 Seeks to clarify the manner of utilization of input tax credit post insertion of the rule 88A of the CGST Rules.

 Seeks to clarify the extension in time under sub-section (1) of section 30 of the Act to provide a one time opportunity to apply for revocation of cancellation of registration on or before the 22nd July, 2019 for the specified class of persons for whom cancellation order has been passed up to 31st March, 2019.

 

 

 

Recent Advance Ruling

Gujarat AAR - Interest charged by Del Credere agent on loan exempt since charging of interest is not in relation to an underlying supply of goods.

 

Receipt of interest on loan extended by the Del Credere Agent is covered under Serial No. 27 of the Notification No. 12/2017-Central Tax (Rate) dated 28.06.2017 and hence exempt since the applicant does not supply any goods and the interest charged is not for delayed payment of consideration of any underlying supply.

West Bengal AAR - Sika Block Joining Mortar, being a non-refractory surfacing preparations, is classified under tariff item 3214.90.90

 

Sika Block Joining Mortar’, a ready to use grey cement based water resistant mortar for fixing AAC blocks, fly ash bricks etc and is a bonding compound used for joining masonry units like AAC blocks and fly ash bricks. It is a powder made pasty before use by adding water, and it hardens after application, enabling joining of the masonry units. It is applied with a trowel after cleaning the surface. After discussing the relative merits of classification under the rival entries the product Sika Block Joining Mortar, being a non-refractory surfacing preparations, was held to be classified under tariff item 3214.90.90 based on the general characteristics of such products as per the Explanatory Notes of the Tariff entries.

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