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MONTHLY COMMUNIQUE
Dear Professional Colleagues,
Effective Networking isn't a result of luck
Howes
Networking and Relationship Building
profession it is essential to maintain cor
the course of our day-to-day professional activities we interact with governmental agencies
and key regulators on a day-
work – life balance too!
Keeping bonds of relationship strong is of quite essential importance. A good Relationshipis not when two 'Perfect people' come together; it is when two 'Imperfect people' learn toenjoy the differences. Learn the wisdom of compromisethan to break a relationship forever. Thanks to the social network, the internet andwhatsapp; it’s much easier to stay in touch.
We are pleased to bring out our 52nd edition ofthe latest significant tax and financial developments of last month.
The Finance Budget, 2018 was presented by Finance Minister ShriArunJaitley in theLokaSabhaon 1st February, 2018. Tbudget are given in the subsequent pages.
MCA - With the rapid development in the macro level of Indian economy, the ministry ofcorporate affairs has come out with schemes to make easier the starting of any business,The company can be started with Zero fee, with so much simplified procedure, retime and without even the DIN.Service (Reserve unique name) where in the procedure to reserve name has been madeeasier and also can be done without filing a form or use a DSC.
GST – Has got ample changes like introduction of enotifications etc.
We hope you find this journal is informative and of continued interest. We welcome your
feedback at Communique@ainog
With warm Regards,
CA. SudheerJavali
On behalf of HVJ Team!!
Determination determines your destination!
MONTHLY COMMUNIQUE
Dear Professional Colleagues,
Effective Networking isn't a result of luck - it requires hard work and persistence
Relationship Building are key point for every professionals. For our
profession it is essential to maintain cordial ties every friend, family or acquaintance. In
day professional activities we interact with governmental agencies
-to-day basis. It becomes necessity for us to have a healthy
Keeping bonds of relationship strong is of quite essential importance. A good Relationshipis not when two 'Perfect people' come together; it is when two 'Imperfect people' learn toenjoy the differences. Learn the wisdom of compromise - It is better to bthan to break a relationship forever. Thanks to the social network, the internet andwhatsapp; it’s much easier to stay in touch.
We are pleased to bring out our 52nd edition of HVJ COMMUNIQUE which summarizestax and financial developments of last month.
The Finance Budget, 2018 was presented by Finance Minister ShriArunJaitley in theon 1st February, 2018. The highlights of the tax proposal introduced in the
budget are given in the subsequent pages.
With the rapid development in the macro level of Indian economy, the ministry ofcorporate affairs has come out with schemes to make easier the starting of any business,The company can be started with Zero fee, with so much simplified procedure, retime and without even the DIN. The MCA, in its amendment rules has also launched RUNService (Reserve unique name) where in the procedure to reserve name has been madeeasier and also can be done without filing a form or use a DSC.
mple changes like introduction of e-way bill, decrease in GST rates, many
We hope you find this journal is informative and of continued interest. We welcome your
Communique@ainoglobal.com
Determination determines your destination!
Page1 of 25
it requires hard work and persistence – Lewis
are key point for every professionals. For our
dial ties every friend, family or acquaintance. In
day professional activities we interact with governmental agencies
day basis. It becomes necessity for us to have a healthy
Keeping bonds of relationship strong is of quite essential importance. A good Relationshipis not when two 'Perfect people' come together; it is when two 'Imperfect people' learn to
It is better to bend a little, ratherthan to break a relationship forever. Thanks to the social network, the internet and
COMMUNIQUE which summarizes
The Finance Budget, 2018 was presented by Finance Minister ShriArunJaitley in theoposal introduced in the
With the rapid development in the macro level of Indian economy, the ministry ofcorporate affairs has come out with schemes to make easier the starting of any business,The company can be started with Zero fee, with so much simplified procedure, reduced
The MCA, in its amendment rules has also launched RUNService (Reserve unique name) where in the procedure to reserve name has been made
way bill, decrease in GST rates, many
We hope you find this journal is informative and of continued interest. We welcome your
MONTHLY COMMUNIQUE
Calendar Month Overview
Statutory Due Dates In the month of February
Foreign Exchange Fluctuation
Stock Market Fluctuation
Commodity Market Fluctuation
New Notification / Circulars / Amendments
Union Budget Highlights 2018
Income Tax & TDS
Goods and Service Tax (GST)
The Companies Act, 2013
Director General of Foreign Trade
Monthly Articles
Article 1:Monthly Article I: Incorporation Of Companies as per
Companies Amendment Act,2017 & Companies (incorporation)Amendment Rules, 2018
Article 2: Major Amendments in Goods & Service Tax, 2017
Compendium
Knowledge has ab
MONTHLY COMMUNIQUE
Page No.
ue Dates In the month of February 20183
Foreign Exchange Fluctuation3
t Fluctuation3
Commodity Market Fluctuation3
/ Amendments
Union Budget Highlights 2018-19
Goods and Service Tax (GST)
Companies Act, 2013
Director General of Foreign Trade (DGFT)
Monthly Article I: Incorporation Of Companies as per
Companies Amendment Act,2017 & Companies (incorporation)
Major Amendments in Goods & Service Tax, 2017
Compendium
Knowledge has abeginning but no end!
Page2 of 25
4
6
6
8
9
10
13
MONTHLY COMMUNIQUE
Statutory
Due Dates In the month of February
Particulars
TDS/TCS TDS payment
Issue of TDS certificateTDS Deducted under Sec 194
Form 24 G (Other than salary cases)
TDS deducted for payments other than salaries
PF Monthly payment and Return filing
ESIC Monthly payment and return filing
PT Monthly payment and return filing
Goods & Service Tax(GST)
GSTR
GSTR
GSTR
Foreign Exchange Fluctuations
Currency As on 31st Dec 2017
USD 63.9273
GBP 86.0653
EURO 76.3867
Stock Exchange Fluctuations
Stock Exchange As on 31st
2017BSE Sensex 34,056.83
Nifty 10,530.70
Commodity Market (MCX) FluctuationsCommodity As on 31
Gold (10 grams) 22carat
29,156.00
Silver (1 kg)
Calendar Month Overview
MONTHLY COMMUNIQUE
ue Dates In the month of February 2018
Nature of payment/Return Filing
TDS payment
TDS Deducted under Sec 194-IA & Sec 194 IB
Form 24 G (Other than salary cases)
TDS deducted for payments other than salaries
Monthly payment and Return filing
Monthly payment and return filing
Monthly payment and return filing
GSTR- 3B for the month of January-18
GSTR-1 for the Quarter Oct- Dec 2017 (<1.5 Cr)
GSTR-1 for the month of Dec 2017 (>1.5 Cr)
Foreign Exchange Fluctuations
Dec 2017 As on 31st Jan 2018 Change
63.6878 0.239
90.3539 4.2886
79.2149 2.8282
Stock Exchange Fluctuations
Dec As on 31st Jan 2018
34,056.83 35,965.02
10,530.70 11,027.70
CX) FluctuationsAs on 31st Dec 2017 As on 31st Jan 2018
29,156.00 28,550
38,700 42,200
Calendar Month Overview
Page3 of 25
Due date
7th Feb
14th Feb
15th Feb
15th Feb
15th Feb
15th Feb
20th Feb
20th Feb
15th Feb
10th Feb
0.2395
2886
2.8282
Change
1,908.19
497
Change
606.00
3,500.00
Calendar Month Overview
MONTHLY COMMUNIQUE
The Finance Budget, 2
LokaSabha on 1st Fe
introduced in the budge
Direct Taxes
Individual:
1.Standard Deduction
reimbursement and con
Medical Reimbursemen
2.Hike in deduction lim
Rs. 30,000 to Rs. 50,00
3.Increase in deduction
60,000 (in case of seni
Rs. 1 lakh for all senior
4.Exemption of interes
from Rs. 10,000 to Rs.
Companies:
1. Domestic Companie
crores in Financial year
MONTHLY COMMUNIQUE
The Finance Budget, 2
Sabha on 1st Fe
Standard Deduction
reimbursement and con
Medical Reimbursemen
Hike in deduction lim
Rs. 30,000 to Rs. 50,00
Increase in deduction
60,000 (in case of seni
Rs. 1 lakh for all senior
f interes
from Rs. 10,000 to Rs.
Domestic Companie
The Finance Budget, 2
Medical Reimbursemen
Hike in deduction lim
Increase in deduction
60,000 (in case of seni
f interes
Domestic Companie
018 was presented by Finance Minister ShriArunJaitley in t
bruary, 2018. Following are th
t.
of Rs 40,000 for salaried employees
veyance
t of Rs 15,000 under Section 17(2) are benefit withdrawn.
it for health insurance premium and/ or medical expenditure from
0 under section 80D.
limit for medical expenditure for certain critical illness from Rs.
or citizens) and from Rs. 80,000 (in case of very senior citizens) to
citizens, under section 80DDB.
t income on deposits with banks and post offices to be increase
50,000 to senior citizens u/s 80TTA.
s having total turnover or gross receipts not exceeding Rs 250
2016
Union Budget 2018
018 was presented by Finance Minister ShriArunJaitley in t
bruary, 2018. Following are the highlights of the tax proposal
of Rs 40,000 for salaried employees in respect of medical
veyance. However benefit of transport allowance of Rs 19,200 and
t of Rs 15,000 under Section 17(2) are benefit withdrawn.
it for health insurance premium and/ or medical expenditure from
0 under section 80D.
limit for medical expenditure for certain critical illness from Rs.
or citizens) and from Rs. 80,000 (in case of very senior citizens) to
citizens, under section 80DDB.
t income on deposits with banks and post offices to be increase
50,000 to senior citizens u/s 80TTA.
s having total turnover or gross receipts not exceeding Rs 250
6-17 shall be liable to pay tax at 25%.
Union Budget 2018-19
Page4 of 25
018 was presented by Finance Minister ShriArunJaitley in the
e highlights of the tax proposal
in respect of medical
nefit of transport allowance of Rs 19,200 and
t of Rs 15,000 under Section 17(2) are benefit withdrawn.
it for health insurance premium and/ or medical expenditure from
limit for medical expenditure for certain critical illness from Rs.
or citizens) and from Rs. 80,000 (in case of very senior citizens) to
t income on deposits with banks and post offices to be increased
s having total turnover or gross receipts not exceeding Rs 250
MONTHLY COMMUNIQUE
2. Difference between Stamp Duty Value and Actual cons
seller and buyer u/s 50C, 43CA and 56. It is now provided that if the difference is not
more that 5% of consideration the provision
3. Section 80P provides for 100 percent ded
Society which provide assistance to its members engaged in primary agricultural
activities.It is proposed to extend similar benefit to Farm Prod
having a total turnover uptoRs 100 Crore.
4. At present, under section 80
to normal deduction of 100% in respect of emoluments paid to eligible new employees who
have been employed for a minimum period of 240 days during the year. However, the
minimum period of employment is relaxed to 150 days in the case of apparel industry. In
order to encourage creation of new employment, it is proposed to extend this relaxation to
footwear and leather industry.
Trust:
Provision of section 40 (ia) and 40 A(3) and 40A(3A) Cash payment exceeding Rs. 10,000/
are being made applicable to Charitable Trust . Hence expenditure incurred without
deduction of TDS and in cash will not be eligible as
10(23C) and section 11(1)(a).
General changes applicable to all assesses:
1. Long term Capital gain exemption under section 10(38) in respect of listed STT paid
shares being withdrawn. Tax on LTCG
more than Rs. 1,00,000. However sale upto 31/1/2018 not covered. Further gains
accrued till 31/1/2018 not taxable if sale upto 31/7/18.
2. Education cess and Secondary Higher education of 3% gets replaced by 4% Health
and Education cess and
3. Income Distribution Tax payable by Equity Oriented Mutual Funds @10%
4. E assessments will be done across the country for removing person to person
interface.
Indirect Taxes:
1. No significant indirect tax changes as gst has
2. Custom duty on mobile phones increased to 20% and some mobile and tv parts to
15% to promote make in india.
Employee’s provident fund:
Women employees’ contribution limit reduced to 8% under the Employees
Provident Fund and Miscellaneous Pro
MONTHLY COMMUNIQUE
Difference between Stamp Duty Value and Actual consideration is taxable for both
seller and buyer u/s 50C, 43CA and 56. It is now provided that if the difference is not
more that 5% of consideration the provisions shall not be attracted.
Section 80P provides for 100 percent deduction in respect of profit of Cooperative
ociety which provide assistance to its members engaged in primary agricultural
activities.It is proposed to extend similar benefit to Farm Producer Companies (FPC),
having a total turnover uptoRs 100 Crore.
At present, under section 80-JJAA of the Act, a deduction of 30% is allowed in addition
to normal deduction of 100% in respect of emoluments paid to eligible new employees who
loyed for a minimum period of 240 days during the year. However, the
minimum period of employment is relaxed to 150 days in the case of apparel industry. In
order to encourage creation of new employment, it is proposed to extend this relaxation to
and leather industry.
Provision of section 40 (ia) and 40 A(3) and 40A(3A) Cash payment exceeding Rs. 10,000/
are being made applicable to Charitable Trust . Hence expenditure incurred without
deduction of TDS and in cash will not be eligible as application of income under section
General changes applicable to all assesses:
Long term Capital gain exemption under section 10(38) in respect of listed STT paid
shares being withdrawn. Tax on LTCG-STT paid will be applicabl
more than Rs. 1,00,000. However sale upto 31/1/2018 not covered. Further gains
accrued till 31/1/2018 not taxable if sale upto 31/7/18.
Education cess and Secondary Higher education of 3% gets replaced by 4% Health
and Education cess and Secondary Higher education cess.
Income Distribution Tax payable by Equity Oriented Mutual Funds @10%
E assessments will be done across the country for removing person to person
No significant indirect tax changes as gst has included most.
Custom duty on mobile phones increased to 20% and some mobile and tv parts to
15% to promote make in india.
Employee’s provident fund:
Women employees’ contribution limit reduced to 8% under the Employees
Provident Fund and Miscellaneous Provisions Act.
Page5 of 25
ideration is taxable for both
seller and buyer u/s 50C, 43CA and 56. It is now provided that if the difference is not
uction in respect of profit of Cooperative
ociety which provide assistance to its members engaged in primary agricultural
ucer Companies (FPC),
JJAA of the Act, a deduction of 30% is allowed in addition
to normal deduction of 100% in respect of emoluments paid to eligible new employees who
loyed for a minimum period of 240 days during the year. However, the
minimum period of employment is relaxed to 150 days in the case of apparel industry. In
order to encourage creation of new employment, it is proposed to extend this relaxation to
Provision of section 40 (ia) and 40 A(3) and 40A(3A) Cash payment exceeding Rs. 10,000/-
are being made applicable to Charitable Trust . Hence expenditure incurred without
application of income under section
Long term Capital gain exemption under section 10(38) in respect of listed STT paid
STT paid will be applicable at 10% if gains
more than Rs. 1,00,000. However sale upto 31/1/2018 not covered. Further gains
Education cess and Secondary Higher education of 3% gets replaced by 4% Health
Income Distribution Tax payable by Equity Oriented Mutual Funds @10%
E assessments will be done across the country for removing person to person
Custom duty on mobile phones increased to 20% and some mobile and tv parts to
Women employees’ contribution limit reduced to 8% under the Employees
MONTHLY COMMUNIQUE
Income Tax& TDS
Processing of income-tax returns under section 143(1) of the Incomefiled in Forms ITR-l to 6 & applicability of section 143(1)(a)(vi)of income, prescribes that the total incomfor addition of income appearing in Form 26AS or Form 16A or Form 16 (the three Forms)which has not been included in computing the total income in thCBDT has issued Instruction No .(s) 9/2017 dated 11.lD. 2017 & 10/2017 dated 15.11.2017for identification of instances in which section 143(1)(a)(vi) of the Act may be invoked by CPCITR, Bengaluru on the basis of information con
http://www.incometaxindia.gov.in/communications/circular/circular1_2018.pdf
Case Study: John Baptist Lasrado vs. Income Tax Settlement Commission (T.S.Sivagnanam J.)with respect to 234BWhere duty is cast upon payer to pay tax at source, on failure, no interest can be imposed onpayee/assessee. Thus, in respect of salary income earned by assessee an employee of amultinational company outside India, employer abroad having paid interest un201(1A) for not deducting tax at source, assessee would not be liable for payment of interestunder section 234B
Goods & Service TaxEffective Rate Of Tax Under Composition Scheme(Notification No. 1/2018- Central Tax dated 1st January 2018)With the effect from 1st January, 2018Prescribed effective rate of tax under composition scheme formanufacturers and other suppliers i.e. 0.5% CGST. EarlierComposite tax shall be paid on entire Turnover (Exempted + Taxable + Nil) now the same shallbe substituted with the words “half per cent of the turnover of taxable supplies of goods”.http://www.cbec.gov.in/resources//htdocsEnglish.pdf
Late fees for filing Form GSTR(Notification No. 4/2018 – Central Tax dated 23January, 2018, Late fees for filing GSTRfor rest (Payable or Carry forward ITC) it is Rs.25 per day per tax.
http://www.cbec.gov.in/resources//htdocsEnglish.pdf
Late fees for filing Form GSTR(Notification No. 5/2018 – Central Tax dated 23rd January 2018January, 2018Late fees for filing GSTRtax & for rest) it is Rs.25 per day per tax.http://www.cbec.gov.in/resources//htdocsEnglish.pdf
New Notification / Circulars / Amendments
MONTHLY COMMUNIQUE
tax returns under section 143(1) of the Income-tax Act which werel to 6 & applicability of section 143(1)(a)(vi)While processing the return
of income, prescribes that the total income or loss shall be computed after making adjustmentfor addition of income appearing in Form 26AS or Form 16A or Form 16 (the three Forms)which has not been included in computing the total income in the retur
No .(s) 9/2017 dated 11.lD. 2017 & 10/2017 dated 15.11.2017for identification of instances in which section 143(1)(a)(vi) of the Act may be invoked by CPCITR, Bengaluru on the basis of information contained in the ITR Forms 1 to 6.
http://www.incometaxindia.gov.in/communications/circular/circular1_2018.pdf
: John Baptist Lasrado vs. Income Tax Settlement Commission (T.S.with respect to 234B
Where duty is cast upon payer to pay tax at source, on failure, no interest can be imposed onpayee/assessee. Thus, in respect of salary income earned by assessee an employee of amultinational company outside India, employer abroad having paid interest un201(1A) for not deducting tax at source, assessee would not be liable for payment of interest
Goods & Service TaxEffective Rate Of Tax Under Composition Scheme
Central Tax dated 1st January 2018)January, 2018
Prescribed effective rate of tax under composition scheme formanufacturers and other suppliers i.e. 0.5% CGST. EarlierComposite tax shall be paid on entire Turnover (Exempted + Taxable + Nil) now the same shall
substituted with the words “half per cent of the turnover of taxable supplies of goods”.http://www.cbec.gov.in/resources//htdocs-cbec/gst/Notification-1-2018-central_tax
Late fees for filing Form GSTR-1Central Tax dated 23rd January 2018)With the effect from 23
Late fees for filing GSTR-1 in case of nil return it is Rs.10 per day per tax &rest (Payable or Carry forward ITC) it is Rs.25 per day per tax.
http://www.cbec.gov.in/resources//htdocs-cbec/gst/Notification-4-
Late fees for filing Form GSTR-5Central Tax dated 23rd January 2018)With the effect from 23
Late fees for filing GSTR-5 in case of nil CGST payment it is Rs.10 per day perper day per tax.
http://www.cbec.gov.in/resources//htdocs-cbec/gst/Notification-5-2018-central_tax
New Notification / Circulars / Amendments
Page6 of 25
tax Act which wereWhile processing the return
e or loss shall be computed after making adjustmentfor addition of income appearing in Form 26AS or Form 16A or Form 16 (the three Forms)
e return. In this regard,No .(s) 9/2017 dated 11.lD. 2017 & 10/2017 dated 15.11.2017
for identification of instances in which section 143(1)(a)(vi) of the Act may be invoked by CPC-tained in the ITR Forms 1 to 6.
http://www.incometaxindia.gov.in/communications/circular/circular1_2018.pdf
: John Baptist Lasrado vs. Income Tax Settlement Commission (T.S.
Where duty is cast upon payer to pay tax at source, on failure, no interest can be imposed onpayee/assessee. Thus, in respect of salary income earned by assessee an employee of amultinational company outside India, employer abroad having paid interest under section201(1A) for not deducting tax at source, assessee would not be liable for payment of interest
Composite tax shall be paid on entire Turnover (Exempted + Taxable + Nil) now the same shallsubstituted with the words “half per cent of the turnover of taxable supplies of goods”.
central_tax-
With the effect from 23rd
1 in case of nil return it is Rs.10 per day per tax &rest (Payable or Carry forward ITC) it is Rs.25 per day per tax.
-2018-central_tax-
With the effect from 23rd
5 in case of nil CGST payment it is Rs.10 per day per
central_tax-
New Notification / Circulars / Amendments
MONTHLY COMMUNIQUE
E-way bill made compulsory from(Notification No. 74/2017-Central Tax, Dated 29E-way bill would be applicable from February 01, 2018 as recommended by GSTCouncil.http://www.cbec.gov.in/resources//htdocs
Late fees for filing Form GSTRWith the effect from 23rd January, 2018January 2018)Late fees for filing GSTRtax & for rest) it is Rs.25 per day per tax.
http://www.cbec.gov.in/resourEnglish.pdf
Late fees for filing Form GSTRWith the effect from 23rd January, 2018January 2018)Late fees for filing GSTRtax.http://www.cbec.gov.in/resources//htdocsEnglish.pdf
Time limit for furnishing the return by an Input ServiWith the effect from 23rd JanuaJanuary 2018)Hereby extends the time limit for furnishing the return by an Input ServiceDistributor in FORM GSTR-6 for the period July 2017 to FebruarMarch, 2018.
http://www.cbec.gov.in/resources//htdocsEnglish.pdf
Common Goods and Service Tax Electronic Portal for facilitating registration, paymentof tax,etc.
Hereby notifies www.gst.gov.in as the Common Goods and Services Tax Electronic Portal forfacilitating registration, payment of tax, furnishing of returns and computatioof integrated tax and www.ewaybillgst.gov.in as the Common Goods and Services TaxElectronic Portal for furnishing electronic way bill.
http://www.cbec.gov.in/resources//htdocsEnglish.pdf
(Notification No. 5/2018-Seeks to exempt Central Government’s share of Profit Petroleum from Central tax.effect from 25th January, 2018
http://www.cbec.gov.in/resources//htdocs
http://www.cbec.gov.in/resources//htdocs
MONTHLY COMMUNIQUE
way bill made compulsory from February 01, 2018Central Tax, Dated 29-12-2017)Govt. has notified that
way bill would be applicable from February 01, 2018 as recommended by GST
http://www.cbec.gov.in/resources//htdocs-cbec/gst/notfctn-74-central-tax
Late fees for filing Form GSTR-5AJanuary, 2018(Notification No. 6/2018 – Central Tax dated 23
for filing GSTR-5A in case of nil IGST payment it is Rs.10 per day pertax & for rest) it is Rs.25 per day per tax.
http://www.cbec.gov.in/resources//htdocs-cbec/gst/Notification-6-2018-central_tax
Late fees for filing Form GSTR-6January, 2018(Notification No. 7/2018 – Central Tax dated 23
)Late fees for filing GSTR-6 is Rs.25 per day perhttp://www.cbec.gov.in/resources//htdocs-cbec/gst/Notification-7-2018
Time limit for furnishing the return by an Input Service DistributorWith the effect from 23rd January, 2018 (Notification No. 8/2018 – Central Tax dated 23January 2018)Hereby extends the time limit for furnishing the return by an Input Service
6 for the period July 2017 to February 2018 till the 31
http://www.cbec.gov.in/resources//htdocs-cbec/gst/Notification-8-2018-central_tax
s and Service Tax Electronic Portal for facilitating registration, payment
Hereby notifies www.gst.gov.in as the Common Goods and Services Tax Electronic Portal forfacilitating registration, payment of tax, furnishing of returns and computatioof integrated tax and www.ewaybillgst.gov.in as the Common Goods and Services TaxElectronic Portal for furnishing electronic way bill.
http://www.cbec.gov.in/resources//htdocs-cbec/gst/Notification-9-2018-central_tax
- Central Tax (Rate) dated 25th
Seeks to exempt Central Government’s share of Profit Petroleum from Central tax.January, 2018
http://www.cbec.gov.in/resources//htdocs-cbec/gst/notfctn-05-2018-cgst
http://www.cbec.gov.in/resources//htdocs-cbec/gst/notfctn-05-2018-igst
Page7 of 25
2017)Govt. has notified thatway bill would be applicable from February 01, 2018 as recommended by GST
tax-english.pdf
Central Tax dated 23rd
5A in case of nil IGST payment it is Rs.10 per day per
central_tax-
Central Tax dated 23rd
6 is Rs.25 per day per2018-central_tax-
Central Tax dated 23rd
January 2018)Hereby extends the time limit for furnishing the return by an Input Servicey 2018 till the 31st day of
central_tax-
s and Service Tax Electronic Portal for facilitating registration, payment
Hereby notifies www.gst.gov.in as the Common Goods and Services Tax Electronic Portal forfacilitating registration, payment of tax, furnishing of returns and computation and settlementof integrated tax and www.ewaybillgst.gov.in as the Common Goods and Services Tax
central_tax-
January 2018)Seeks to exempt Central Government’s share of Profit Petroleum from Central tax.With the
cgst-rate-english.pdf
igst-rate-english.pdf
MONTHLY COMMUNIQUE
(Notification No. 1/2018 – Integrated Tax dated 23No. 11/2017-Integrated Tax dated 13.10.2017 for crossprocessing and grant of refund
http://www.cbec.gov.in/resources//htd
(Notification No. 6/2018- Integrated Tax (Rate) dated 2525th January, 2018Seeks to exempt royalty and license fee from Integrated tax to the extent itis paid on the consideration attributable to royalty and license fee included in transactionvalue under Rule 10(1)(c) of Customs Valuation (Determination of value of imported Goods)Rules, 2007.
http://www.cbec.gov.in/resources//htdocs
Clarifications regarding levy of GST on accommodation services, betting and gambling incasinos, horse racing, admission to cinema, homestays, priCircular No. 27/01/2018-GST dated 04th January 20182018
http://www.cbec.gov.in/resources//htdocs
Clarification on supplies made to the Indian Railways classifiable under any chapter, otherthan Chapter 86Circular No. 30/4/2018
With the effect from 25th January, 2018
Conclusion: it is hereby clarified that
• only the goods classified under Chapter 86, supplied to the railways attract 5% GST ratewith no refund of unutilised input tax credit and
• other goods [falling in any other chapter], would attract the general applicable GST rates tosuch goods, under the aforesaid notifications, even if supplied to the railways.
http://www.cbec.gov.in/resources//htdocs
Refer to Monthly Article
The Companies Act, 2013The Companies Amendment Act, 2018
The Companies Amendment Act, 2018 has amended the rules with regard to incorporation likeRUN and Zero Incorporation Fee, etc.
http://www.mca.gov.in/Ministry/pdf/CompaniesIncorporationAmendmentRules2018_25012018.pdf
Refer to Monthly Article
MONTHLY COMMUNIQUE
Integrated Tax dated 23rd January 2018)Amendment of notificationIntegrated Tax dated 13.10.2017 for cross-empowerment of State tax officers for
processing and grant of refund
http://www.cbec.gov.in/resources//htdocs-cbec/gst/notfctn-1-2018-igst-english.pdf
Integrated Tax (Rate) dated 25th January 2018)With the effect fromSeeks to exempt royalty and license fee from Integrated tax to the extent it
eration attributable to royalty and license fee included in transactionvalue under Rule 10(1)(c) of Customs Valuation (Determination of value of imported Goods)
http://www.cbec.gov.in/resources//htdocs-cbec/gst/notfctn-06-2018-igst
Clarifications regarding levy of GST on accommodation services, betting and gambling incasinos, horse racing, admission to cinema, homestays, printing, legal services etc.
GST dated 04th January 2018) With the effect from 04th January,
http://www.cbec.gov.in/resources//htdocs-cbec/gst/circularno-27-gst.pdf
Clarification on supplies made to the Indian Railways classifiable under any chapter, otherCircular No. 30/4/2018-GST dated 25th January 2018
January, 2018
rified that
• only the goods classified under Chapter 86, supplied to the railways attract 5% GST ratewith no refund of unutilised input tax credit and
• other goods [falling in any other chapter], would attract the general applicable GST rates togoods, under the aforesaid notifications, even if supplied to the railways.
http://www.cbec.gov.in/resources//htdocs-cbec/gst/circularno-30-cgst.pdf
Monthly Article – 2 for details of the notification….
The Companies Act, 2013The Companies Amendment Act, 2018
The Companies Amendment Act, 2018 has amended the rules with regard to incorporation likeRUN and Zero Incorporation Fee, etc.
http://www.mca.gov.in/Ministry/pdf/CompaniesIncorporationAmendmentRules2018_250120
icle – 1 for details of the rule….
Page8 of 25
January 2018)Amendment of notificationempowerment of State tax officers for
english.pdf
With the effect fromSeeks to exempt royalty and license fee from Integrated tax to the extent it
eration attributable to royalty and license fee included in transactionvalue under Rule 10(1)(c) of Customs Valuation (Determination of value of imported Goods)
igst-rate-english.pdf
Clarifications regarding levy of GST on accommodation services, betting and gambling inng, legal services etc. – Reg.
With the effect from 04th January,
gst.pdf
Clarification on supplies made to the Indian Railways classifiable under any chapter, other
• only the goods classified under Chapter 86, supplied to the railways attract 5% GST rate
• other goods [falling in any other chapter], would attract the general applicable GST rates togoods, under the aforesaid notifications, even if supplied to the railways.
cgst.pdf .
The Companies Amendment Act, 2018 has amended the rules with regard to incorporation like
http://www.mca.gov.in/Ministry/pdf/CompaniesIncorporationAmendmentRules2018_250120
MONTHLY COMMUNIQUE
Director Identification Number for the Directors of the Companies
Individual who do not have a DIN for incorporating the Company, the same can be applied forand allotted through Spice Form during the Incorporation process and Form DIRspecifically to applied by the individuals who wish to be appointed as Director in the ExistingCompany.http://www.mca.gov.in/Ministry/pdf/AppointmentQualificationDir_25012018.pdf
Condonation of Delay Scheme
CODS which is introduced on 01.01.2018 will be in force upto 31.03.2018.Ewill be available from 20.02.2018.
http://www.mca.gov.in/Ministry/pdf/Generalcircular16_29122017.pdf
Director General of ForeignTrade
Operational Modification of IEC Registration
To make changes done in the IEC Registration which is done in offline mode, to be migrated toE-IEC- i.e.,from of offline to online.
http://dgft.gov.in/Exim/2000/PN/PN15/pn3615.pdf
Leadership is the capacity to translate VISION into REALITY!
MONTHLY COMMUNIQUE
Identification Number for the Directors of the Companies
Individual who do not have a DIN for incorporating the Company, the same can be applied forand allotted through Spice Form during the Incorporation process and Form DIR
by the individuals who wish to be appointed as Director in the Existing
http://www.mca.gov.in/Ministry/pdf/AppointmentQualificationDirectoramendmentrules2018
Condonation of Delay Scheme
CODS which is introduced on 01.01.2018 will be in force upto 31.03.2018.Ewill be available from 20.02.2018.
http://www.mca.gov.in/Ministry/pdf/Generalcircular16_29122017.pdf
f ForeignTrade
Operational Modification of IEC Registration
To make changes done in the IEC Registration which is done in offline mode, to be migrated toi.e.,from of offline to online.
http://dgft.gov.in/Exim/2000/PN/PN15/pn3615.pdf
Leadership is the capacity to translate VISION into REALITY!
Page9 of 25
Individual who do not have a DIN for incorporating the Company, the same can be applied forand allotted through Spice Form during the Incorporation process and Form DIR-03 is
by the individuals who wish to be appointed as Director in the Existing
ectoramendmentrules2018
CODS which is introduced on 01.01.2018 will be in force upto 31.03.2018.E-form for CODS
To make changes done in the IEC Registration which is done in offline mode, to be migrated to
Leadership is the capacity to translate VISION into REALITY!
MONTHLY COMMUNIQUE
Introduction
The Central Government hereby makes the following rules further to ame
(Incorporation) Rules, 2014, namely, These rules may be called the Companies (Incorporation)
Amendment Rules, 2018.
Background of the Rule
Prior to Companies Amendment Act, 2017, Rules in respect to Reservation of Name andApplication for Incorporation Of Companies, the power was vested with Registrar, CentralRegistration Centre.
The Name Application was to be Filed in INC(Registration offices and fees) Rules, 2014 to the Registrar, Centrapplication submitted to the registrar will be approved and reserved for a period of 60 days.
The application for incorporation of a company under this rule shall be in FORM No. INC(SPICe) alongwith e-Memorandum of AssociatAssociation (e-AOA) in Form No. INCProvided that in case of incorporation of a company falling under section 8 of the Act, FORM No.INC-32 (SPICe) shall be filed along with FORM No. INCFORM No. INC-31 (Articles of Association) as attachments.
Applicability
TheCompanies (Incorporation) Amendment Rules, 2018 will apply for the incorporation of the
companies with effect from 26.01.2018.
Incorporation Process Under The N
An application for reservation of name shall be madethrough the web service available at
www.mca.gov.in by using RUN (Reserve Unique Name) along with fee as provided in the
Companies (Registration offices and fees) Rules, 2014, which may either be
rejected, as the case may be, by the Registrar, Central Registration Centre. Name approved and
reserved under RUN will be valid only 20 days.
Screenshot of the same is given below:
Monthly Article I:Incorporation Of Companies as per
Companies Amendment
Amendment Rules, 2018
MONTHLY COMMUNIQUE
The Central Government hereby makes the following rules further to ame
(Incorporation) Rules, 2014, namely, These rules may be called the Companies (Incorporation)
Prior to Companies Amendment Act, 2017, Rules in respect to Reservation of Name andIncorporation Of Companies, the power was vested with Registrar, Central
The Name Application was to be Filed in INC-1along with the fee as provided in the Companies(Registration offices and fees) Rules, 2014 to the Registrar, Central Registration Centre.Theapplication submitted to the registrar will be approved and reserved for a period of 60 days.
The application for incorporation of a company under this rule shall be in FORM No. INCMemorandum of Association (e-MOA) in Form No. INC-
AOA) in Form No. INC-34.Provided that in case of incorporation of a company falling under section 8 of the Act, FORM No.
32 (SPICe) shall be filed along with FORM No. INC-13 (Memorandum o31 (Articles of Association) as attachments.
TheCompanies (Incorporation) Amendment Rules, 2018 will apply for the incorporation of the
es with effect from 26.01.2018.
Incorporation Process Under The New Rule.
An application for reservation of name shall be madethrough the web service available at
www.mca.gov.in by using RUN (Reserve Unique Name) along with fee as provided in the
Companies (Registration offices and fees) Rules, 2014, which may either be
rejected, as the case may be, by the Registrar, Central Registration Centre. Name approved and
reserved under RUN will be valid only 20 days.
Screenshot of the same is given below:
Incorporation Of Companies as per
Amendment Act,2017& Companies (incorporation)
Amendment Rules, 2018
Page10 of 25
The Central Government hereby makes the following rules further to amend the Companies
(Incorporation) Rules, 2014, namely, These rules may be called the Companies (Incorporation)
Prior to Companies Amendment Act, 2017, Rules in respect to Reservation of Name andIncorporation Of Companies, the power was vested with Registrar, Central
1along with the fee as provided in the Companiesal Registration Centre.The
application submitted to the registrar will be approved and reserved for a period of 60 days.
The application for incorporation of a company under this rule shall be in FORM No. INC-32-33 and e-Articles of
Provided that in case of incorporation of a company falling under section 8 of the Act, FORM No.13 (Memorandum of Association) and
TheCompanies (Incorporation) Amendment Rules, 2018 will apply for the incorporation of the
An application for reservation of name shall be madethrough the web service available at
www.mca.gov.in by using RUN (Reserve Unique Name) along with fee as provided in the
Companies (Registration offices and fees) Rules, 2014, which may either be approved or
rejected, as the case may be, by the Registrar, Central Registration Centre. Name approved and
Incorporation Of Companies as per
& Companies (incorporation)
MONTHLY COMMUNIQUE
Key Highlights of the Rule
INC-1 discarded. Now _Registrati
Name and Change of Name of existing companies.
Central Registration Center (CRC) will be vested with job of processing RUN applications.
No resubmission for RUN*. Either approval or rejection.
RUN* comes with *_Auto Check_* feature for checking name availability. However,
scrutiny of name shall still be done by MCA. Onus to comply with _Name Availability
Provisions_ still rests upon applicant. Same is now required to be declared by Applicants
in SPICe (INC-32).
Documents such as NOC for Name, SectoralRegulator Approval, Self
to be attached to *RUN*
expect it to be existing 6MB.
MONTHLY COMMUNIQUE
1 discarded. Now _Registration of Unique Name_*(RUN)* to be used for Reservation of
Name and Change of Name of existing companies.
Central Registration Center (CRC) will be vested with job of processing RUN applications.
No resubmission for RUN*. Either approval or rejection.
mes with *_Auto Check_* feature for checking name availability. However,
scrutiny of name shall still be done by MCA. Onus to comply with _Name Availability
Provisions_ still rests upon applicant. Same is now required to be declared by Applicants
Documents such as NOC for Name, SectoralRegulator Approval, Self-Declaration, etc. has
*RUN*. _Though, size of attachments still remian undisclosed_*. We can
expect it to be existing 6MB.
Page11 of 25
on of Unique Name_*(RUN)* to be used for Reservation of
Central Registration Center (CRC) will be vested with job of processing RUN applications.
mes with *_Auto Check_* feature for checking name availability. However,
scrutiny of name shall still be done by MCA. Onus to comply with _Name Availability
Provisions_ still rests upon applicant. Same is now required to be declared by Applicants
Declaration, etc. has
. _Though, size of attachments still remian undisclosed_*. We can
MONTHLY COMMUNIQUE
Brief of Main Objects to be entered in
Incorporation to be done only through SPICe Route now i.e. INC
SPICe (INC-32) to be now used for Incorporation of Chapter XXI (Part
Section 366 companies.
e-MOA and e-AOA (i.e. INC
foreign subscribers or cases where subscribers are more than 7. In both such cases
separate MOA-AOA has to be attached.
Form INC-7 discontinued for Incorporation matters.
For incorporating companies having less than or equal
companies which are without share capital and have members less than 20
Incorporation fee._* Only Stamp Duty for registration of MOA and AOA has to be paid
as per the State Act.
As per Companies Amendment Act, 2017,
Subscribers and First Directors of the Company has been scrapped off. As per the New
Incorporation Rules, only Declarations regarding the same has to be submitted by
Subscribers and First Directors of the Comp
the requirement of procuring stamp papers for Affidavits and Notarising the same.
Thus to conclude the Companies Am
hassle free, economical, and time saving
warmly welcomed by the Professionals and Entreprenuers.
When the going gets tough, the tough get going!
MONTHLY COMMUNIQUE
Brief of Main Objects to be entered in *RUN* in comments section.
Incorporation to be done only through SPICe Route now i.e. INC-32
32) to be now used for Incorporation of Chapter XXI (Part
AOA (i.e. INC-33 and INC-34) to be *not applicable* for companies having
foreign subscribers or cases where subscribers are more than 7. In both such cases
AOA has to be attached.
7 discontinued for Incorporation matters.
For incorporating companies having less than or equal to Rs.10 lakh nominal capital or
companies which are without share capital and have members less than 20
Only Stamp Duty for registration of MOA and AOA has to be paid
As per Companies Amendment Act, 2017, the clause of submitting the Affidavits by the
Subscribers and First Directors of the Company has been scrapped off. As per the New
Incorporation Rules, only Declarations regarding the same has to be submitted by
Subscribers and First Directors of the Company. Thus, make the Process hassle free from
the requirement of procuring stamp papers for Affidavits and Notarising the same.
Companies Amendment Act,has made the Incorporation
hassle free, economical, and time saving. This new initiative brought up by the Central Govt. is
Professionals and Entreprenuers.
When the going gets tough, the tough get going!
Page12 of 25
32) to be now used for Incorporation of Chapter XXI (Part-I) companies i.e.
plicable* for companies having
foreign subscribers or cases where subscribers are more than 7. In both such cases
to Rs.10 lakh nominal capital or
companies which are without share capital and have members less than 20 - *_No
Only Stamp Duty for registration of MOA and AOA has to be paid
the clause of submitting the Affidavits by the
Subscribers and First Directors of the Company has been scrapped off. As per the New
Incorporation Rules, only Declarations regarding the same has to be submitted by
any. Thus, make the Process hassle free from
the requirement of procuring stamp papers for Affidavits and Notarising the same.
Act,has made the Incorporation process simpler,
. This new initiative brought up by the Central Govt. is
MONTHLY COMMUNIQUE
Major Changes that can be observed below which has happened as on 23
With the effect from 23rd January, 2018
Point-wise analysis of major amendments in Central Goods & Service Tax, 2017 :
Any person who has been granted registration on a provisional basis under clause (b) of
sub-rule (1) of rule 24 and who opts to pay tax under section 10, shall
an intimation in FORM GST CMP
code, on the common portal, either directly or through a Facilitation Centre notified by the
Commissioner, prior to the appointed day, but not lat
day (earlier 90 days).
Sl.No
Category of CompositeDealer
1. Manufacturers, other thanmanufacturers of such goodsas may be notified by theGovernment
2. Suppliers making suppliesreferred to in clause (b) ofparagraph 6 of Schedule II(Restaurants)
3. Any other supplier eligiblefor composition levy undersection 10 and theprovisions of this Chapter(Others)
Proviso to Rule. 20 has been omitted
registration shall be considered in case of a taxable person, who has registered
voluntarily, before the expiry of a period of one year from the effective date of
registration”- is omitted.
Migration of persons registered under the existing law Rule 24
Amendment in Sub Rule 4 “Every person registered under any of the existing laws, who is not
liable to be registered under the Act may,
December, 2017) at his option, submit an application electronically in FORM GST REG
common portal for the cancellation of registration granted to him and the proper officer shall,
after conducting such enquiry as deemed fit, cancel the said registration.
Monthly Article II : Major Amendments in Goods &
MONTHLY COMMUNIQUE
Major Changes that can be observed below which has happened as on 23rd January 2018.
January, 2018
wise analysis of major amendments in Central Goods & Service Tax, 2017 :
Any person who has been granted registration on a provisional basis under clause (b) of
rule (1) of rule 24 and who opts to pay tax under section 10, shall
an intimation in FORM GST CMP-01, duly signed or verified through electronic verification
code, on the common portal, either directly or through a Facilitation Centre notified by the
Commissioner, prior to the appointed day, but not later than 180 days after the said
Category of Composite Rate of Tax
Manufacturers, other thanmanufacturers of such goodsas may be notified by the
0.5% (Earlier 1%) of the turnover in theState or Union territory
Suppliers making suppliesreferred to in clause (b) ofparagraph 6 of Schedule II
2.5% (No change) of the turnover in the Stateor Union territory
Any other supplier eligiblefor composition levy undersection 10 and the
visions of this Chapter
0.5% (No Change) half per cent. of theturnover of taxable supplies of goodsthe State or Union territory
Proviso to Rule. 20 has been omitted – “Provided that no application for the cancellation of
be considered in case of a taxable person, who has registered
voluntarily, before the expiry of a period of one year from the effective date of
is omitted.
Migration of persons registered under the existing law Rule 24 –
le 4 “Every person registered under any of the existing laws, who is not
liable to be registered under the Act may, on or before 31st March, 2018
December, 2017) at his option, submit an application electronically in FORM GST REG
mmon portal for the cancellation of registration granted to him and the proper officer shall,
after conducting such enquiry as deemed fit, cancel the said registration.
Monthly Article II : Major Amendments in Goods &
Service Tax, 2017
Page13 of 25
January 2018.
wise analysis of major amendments in Central Goods & Service Tax, 2017 :
Any person who has been granted registration on a provisional basis under clause (b) of
rule (1) of rule 24 and who opts to pay tax under section 10, shall electronically file
01, duly signed or verified through electronic verification
code, on the common portal, either directly or through a Facilitation Centre notified by the
180 days after the said
of the turnover in the
2.5% (No change) of the turnover in the State
0.5% (No Change) half per cent. of thetaxable supplies of goods in
“Provided that no application for the cancellation of
be considered in case of a taxable person, who has registered
voluntarily, before the expiry of a period of one year from the effective date of
le 4 “Every person registered under any of the existing laws, who is not
on or before 31st March, 2018 (earlier 31st
December, 2017) at his option, submit an application electronically in FORM GST REG-29 at the
mmon portal for the cancellation of registration granted to him and the proper officer shall,
Monthly Article II : Major Amendments in Goods &
MONTHLY COMMUNIQUE
Rule 31A “Value of supply in case of lottery, betting, gambling and horse racing” has
been inserted.
Sl.No
Particulars
1. Lottery run by StateGovernments (means alottery not allowed to besold in any State otherthan the organizingState)
2. Lottery authorised byState Governments(means a lottery which isauthorised to be sold inState(s) other than theorganising State)
Manner of determination of input tax credit in respect of inputs or input services and
reversal thereof & Manner of determination of input tax credit in respect of capital goods
and reversal thereof in certain cases :
Amendment:
It is hereby clarified that the
Sl. No1. The value of supply of services specified in the notification of the
Government of India in the Ministry of Financ42/2017-Integrated Tax (Rate), dated the 27th October, 2017 published inthe Gazette of India, Extraordinary, Part II, Section 3, Subnumber GSR 1338(E) dated the 27th October, 2017;having place of supply in Nepal or Bhutan, against payment in IndianRupees”
2. The value of services by way of accepting deposits, extending loans oradvances in so far as the consideration is represented by way of interestor discount, except in case of aincluding a non-by way of accepting deposits, extending loans or advances; and
3. The value of supply of services by way of transportation of goods by avessel from the customs station of clearance in India to a place outsideIndia.”
Insertion of Sub Rule 1A to Rule 54:
A registered person, having the same PAN and State code as an Input Service Distributor,
may issue an invoice or, as the case may be, a c
common input services to the Input Service Distributor, which shall contain the following
details:-
MONTHLY COMMUNIQUE
Rule 31A “Value of supply in case of lottery, betting, gambling and horse racing” has
Valuation
Lottery run by StateGovernments (means alottery not allowed to besold in any State otherthan the organizing
100/112 of the face value of ticket or of the priceas notified in the Official Gazette bState, whichever is higher
Lottery authorised byState Governments(means a lottery which isauthorised to be sold inState(s) other than theorganising State)
100/128 of the face value of ticket or of the priceas notified in the Official Gazette by the organisingState, whichever is higher.
Manner of determination of input tax credit in respect of inputs or input services and
reversal thereof & Manner of determination of input tax credit in respect of capital goods
eof in certain cases :
It is hereby clarified that the aggregate value of exempt supplies shall exclude
ParticularsThe value of supply of services specified in the notification of theGovernment of India in the Ministry of Finance, Department of Revenue No.
Integrated Tax (Rate), dated the 27th October, 2017 published inthe Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), videnumber GSR 1338(E) dated the 27th October, 2017; - “Supply of services
ng place of supply in Nepal or Bhutan, against payment in Indian
The value of services by way of accepting deposits, extending loans oradvances in so far as the consideration is represented by way of interestor discount, except in case of a banking company or a financial institution
-banking financial company, engaged in supplying servicesby way of accepting deposits, extending loans or advances; andThe value of supply of services by way of transportation of goods by a
ssel from the customs station of clearance in India to a place outside
Insertion of Sub Rule 1A to Rule 54:
A registered person, having the same PAN and State code as an Input Service Distributor,
may issue an invoice or, as the case may be, a credit or debit note to transfer the credit of
common input services to the Input Service Distributor, which shall contain the following
Page14 of 25
Rule 31A “Value of supply in case of lottery, betting, gambling and horse racing” has
100/112 of the face value of ticket or of the priceas notified in the Official Gazette by the organising
100/128 of the face value of ticket or of the pricecial Gazette by the organising
Manner of determination of input tax credit in respect of inputs or input services and
reversal thereof & Manner of determination of input tax credit in respect of capital goods
aggregate value of exempt supplies shall exclude:
The value of supply of services specified in the notification of thee, Department of Revenue No.
Integrated Tax (Rate), dated the 27th October, 2017 published insection (i), vide
“Supply of servicesng place of supply in Nepal or Bhutan, against payment in Indian
The value of services by way of accepting deposits, extending loans oradvances in so far as the consideration is represented by way of interest
banking company or a financial institutionbanking financial company, engaged in supplying services
by way of accepting deposits, extending loans or advances; andThe value of supply of services by way of transportation of goods by a
ssel from the customs station of clearance in India to a place outside
A registered person, having the same PAN and State code as an Input Service Distributor,
redit or debit note to transfer the credit of
common input services to the Input Service Distributor, which shall contain the following
MONTHLY COMMUNIQUE
Sl.No1. name, address and Goods and Services Tax Identification Number of the
registered personService Distributor;
2. a consecutive serial number not exceeding sixteen characters, in one ormultiple series, containing alphabets or numerals or special charactershyphen or dash and slash symbolcombination thereof, unique for a financial year;
3. date of its issue;4. Goods and Services Tax Identification Number of supplier of common
service and original invoice number whose credit is sought to betransferred to the Input Service Distributor;
5. name, address and Goods and Services Tax Identification Number of theInput Service Distributor;
6. taxable value, rate and amount of the credit to be transferred; and7. signature or digital signature of the
representative
The taxable value in the invoice issued under clause (a) shall be the same as the value of
the common services.
Insertion of GST rule no.55A. Tax Invoice or bill of supply to accompany transport of
goods.- The person-in-charge of the conveyance shall carry a copy of the tax invoice or the
bill of supply issued in accordance with the provisions of rules 46, 46A or 49 in a case
where such person is not required to carry an e
With effect from 23rd October, 2017, in rule 89, for sub
following sub-rules shall be substituted, namely:
Sl.No
Particulars
1. In the case of supplies received on which the supplier has availed thebenefit of DEEMED EXrespect of other inputs or input services used in making zerosupply of goods or services or both, shall be granted.
2. In the case of supplies received on which the supplier has availed thebenefit of the Government of India, Ministry of Finance, notification No.40/2017-Central Tax (Rate) dated the 23rd October, 2017 (CGST @0.05% on intra-to a registered recipient for export subject to specifiednotification No. 41/20172017 ( Rate Changes in Schedule I goods ) or notification No. 78/2017Customs dated the 13th October, 2017 or notification No. 79/2017Customs dated the 13th October, 20tax credit, availed in respect of inputs received under the saidnotifications for export of goods and the input tax credit availed inrespect of other inputs or input services to the extent used in makingsuch export of goods, shall be granted.”
(Read with Customs notification no. 78 & 79)
MONTHLY COMMUNIQUE
Particularsname, address and Goods and Services Tax Identification Number of theregistered person having the same PAN and same State code as the InputService Distributor;a consecutive serial number not exceeding sixteen characters, in one ormultiple series, containing alphabets or numerals or special charactershyphen or dash and slash symbolised as “-” and “/” respectively, and anycombination thereof, unique for a financial year;date of its issue;Goods and Services Tax Identification Number of supplier of commonservice and original invoice number whose credit is sought to be
ferred to the Input Service Distributor;name, address and Goods and Services Tax Identification Number of theInput Service Distributor;taxable value, rate and amount of the credit to be transferred; andsignature or digital signature of the registered person or his authorised
The taxable value in the invoice issued under clause (a) shall be the same as the value of
Insertion of GST rule no.55A. Tax Invoice or bill of supply to accompany transport of
charge of the conveyance shall carry a copy of the tax invoice or the
bill of supply issued in accordance with the provisions of rules 46, 46A or 49 in a case
where such person is not required to carry an e-way bill under these rules.”;
With effect from 23rd October, 2017, in rule 89, for sub-rule (4A) and sub
rules shall be substituted, namely:-
In the case of supplies received on which the supplier has availed theDEEMED EXPORTS, refund of input tax credit, availed in
respect of other inputs or input services used in making zerosupply of goods or services or both, shall be granted.In the case of supplies received on which the supplier has availed the
he Government of India, Ministry of Finance, notification No.Central Tax (Rate) dated the 23rd October, 2017 (CGST @
0.05% on intra-State supply of taxable goods by a registered supplierto a registered recipient for export subject to specified condition ) ornotification No. 41/2017-Integrated Tax (Rate) dated the 23rd October,2017 ( Rate Changes in Schedule I goods ) or notification No. 78/2017Customs dated the 13th October, 2017 or notification No. 79/2017Customs dated the 13th October, 2017 or all of them, refund of inputtax credit, availed in respect of inputs received under the saidnotifications for export of goods and the input tax credit availed inrespect of other inputs or input services to the extent used in making
goods, shall be granted.”
(Read with Customs notification no. 78 & 79)
Page15 of 25
name, address and Goods and Services Tax Identification Number of thehaving the same PAN and same State code as the Input
a consecutive serial number not exceeding sixteen characters, in one ormultiple series, containing alphabets or numerals or special characters -
” and “/” respectively, and any
Goods and Services Tax Identification Number of supplier of commonservice and original invoice number whose credit is sought to be
name, address and Goods and Services Tax Identification Number of the
taxable value, rate and amount of the credit to be transferred; andregistered person or his authorised
The taxable value in the invoice issued under clause (a) shall be the same as the value of
Insertion of GST rule no.55A. Tax Invoice or bill of supply to accompany transport of
charge of the conveyance shall carry a copy of the tax invoice or the
bill of supply issued in accordance with the provisions of rules 46, 46A or 49 in a case
way bill under these rules.”;
rule (4A) and sub-rule (4B), the
In the case of supplies received on which the supplier has availed the, refund of input tax credit, availed in
respect of other inputs or input services used in making zero-rated
In the case of supplies received on which the supplier has availed thehe Government of India, Ministry of Finance, notification No.
Central Tax (Rate) dated the 23rd October, 2017 (CGST @State supply of taxable goods by a registered supplier
condition ) orIntegrated Tax (Rate) dated the 23rd October,
2017 ( Rate Changes in Schedule I goods ) or notification No. 78/2017-Customs dated the 13th October, 2017 or notification No. 79/2017-
17 or all of them, refund of inputtax credit, availed in respect of inputs received under the saidnotifications for export of goods and the input tax credit availed inrespect of other inputs or input services to the extent used in making
MONTHLY COMMUNIQUE
Rule 138 has been inserted “Information to be furnished prior to commencement of
movement of goods and generation of e
with effect from 23rd October, 2017, in rule 96, (a) in sub
exporter”, the words “an exporter of goods” shall be substituted; (b) in sub
words “relevant export invoices”, the words “relevant export invoices in respect of expo
of goods” shall be substituted; (c) in sub
the Customs shall process the claim for refund”, the words “the system designated by the
Customs or the proper officer of Customs, as the case may be, shall pro
refund in respect of export of goods ” shall be substituted;
The application for refund of integrated tax paid on the services exported out of India
shall be filed in FORM GST RFD
provisions of rule 89”
The persons claiming refund of integrated tax paid on exports of goods or services should
not have received following supplies on which the supplier has availed the benefit of the
Government of India, Ministry of Finance,
notification No. 48/2017
notification No. 40/2017
of 0.05% on intra
registered recipient for export subject
notification No. 41/2017
DEEMED EXPORTS
read with notification No. 78/2017
79/2017-Customs dated the 13th October, 2017.
http://www.cbec.gov.in/resources//htdocs
English_New.pdf
CGST Rates Amendments:
(Notification No. 1/2018-Central Tax (Rate) dated 25th January 2018 read with Notification No.
11/2017-Central Tax (Rate)
With the effect from 25th January, 2018
Services CGSTRate
Composite supply of workscontract as defined inclause (119) of section 2 ofthe Central Goods andServices Tax Act, 2017provided by a sub-contractor to the main
6%
MONTHLY COMMUNIQUE
Rule 138 has been inserted “Information to be furnished prior to commencement of
movement of goods and generation of e-way bill – with the effect from 1
m 23rd October, 2017, in rule 96, (a) in sub-rule (1), for the words “an
exporter”, the words “an exporter of goods” shall be substituted; (b) in sub
words “relevant export invoices”, the words “relevant export invoices in respect of expo
of goods” shall be substituted; (c) in sub-rule (3), for the words “the system designated by
the Customs shall process the claim for refund”, the words “the system designated by the
Customs or the proper officer of Customs, as the case may be, shall pro
refund in respect of export of goods ” shall be substituted;
The application for refund of integrated tax paid on the services exported out of India
shall be filed in FORM GST RFD-01 and shall be dealt with in accordance with the
The persons claiming refund of integrated tax paid on exports of goods or services should
not have received following supplies on which the supplier has availed the benefit of the
Government of India, Ministry of Finance,
o. 48/2017- Central Tax dated the 18th October, 2017
notification No. 40/2017-Central Tax (Rate) 23rd October, 2017
of 0.05% on intra-State supply of taxable goods by a registered supplier to a
registered recipient for export subject to specified conditions.
notification No. 41/2017-Integrated Tax (Rate) dated the 23rd October, 2017
DEEMED EXPORTS
read with notification No. 78/2017-Customs dated the 13th October, 2017 notification No.
Customs dated the 13th October, 2017.
http://www.cbec.gov.in/resources//htdocs-cbec/gst/Notification-3-2018-central_tax
mendments:-
Central Tax (Rate) dated 25th January 2018 read with Notification No.
January, 2018
CGSTRate
Conditions
6% Provided that where the services are supplied to aGovernment Entity, they should have been procuredby the said entity in relation to a work entrusted to itby the Central Government, State Government, Unionterritory or local authority, as the case may be.
Page16 of 25
Rule 138 has been inserted “Information to be furnished prior to commencement of
with the effect from 1st Feb 2018”
rule (1), for the words “an
exporter”, the words “an exporter of goods” shall be substituted; (b) in sub-rule (2), for the
words “relevant export invoices”, the words “relevant export invoices in respect of export
rule (3), for the words “the system designated by
the Customs shall process the claim for refund”, the words “the system designated by the
Customs or the proper officer of Customs, as the case may be, shall process the claim of
The application for refund of integrated tax paid on the services exported out of India
01 and shall be dealt with in accordance with the
The persons claiming refund of integrated tax paid on exports of goods or services should
not have received following supplies on which the supplier has availed the benefit of the
Central Tax dated the 18th October, 2017 -
Central Tax (Rate) 23rd October, 2017 - Central Tax rate
State supply of taxable goods by a registered supplier to a
Integrated Tax (Rate) dated the 23rd October, 2017 –
Customs dated the 13th October, 2017 notification No.
central_tax-
Central Tax (Rate) dated 25th January 2018 read with Notification No.
Provided that where the services are supplied to aGovernment Entity, they should have been procuredby the said entity in relation to a work entrusted to itby the Central Government, State Government, Union
ority, as the case may be.
MONTHLY COMMUNIQUE
contractor providingservices specified in item(iii) or item (vi) to theCentral Government, StateGovernment, Unionterritory, a local authority,a Governmental Authorityor a Government Entity.Composite supply of worksProvided that where theservices are 3 contract asdefined in clause (119) ofsection 2 of the CentralGoods and Services TaxAct, 2017 provided by asub-contractor to the maincontractor providingservices specified in item(vii) to the CentralGovernment, StateGovernment, Unionterritory, a local authority,a Governmental Authorityor a Government Entity.
2.5%
Services by way ofhousekeeping, such asplumbing, carpentering,etc. where the personsupplying such servicethrough electroniccommerce operator is notliable for registration undersubsection (1) of section 22of the Central Goods andServices Tax Act, 2017
2.5%
(xii) Construction servicesother than (i), (ii), (iii), (iv),(v), (vi), (vii), (viii),(ix), (x)and(xi) .
9%
Time charter of vessels fortransport of goods.
2.5%
Rental services of transportvehicles with or withoutoperators, other than (i)and (ii)
9%
Services by the CentralGovernment, StateGovernment, Unionterritory or local authorityto governmental authorityor government entity, by
NIL
MONTHLY COMMUNIQUE
2.5% Provided that where the services are supplied to aGovernment Entity, they should have beenby the said entity in relation to a work entrusted to itby the Central Government, State Government, Unionterritory or local authority, as the case may be.
2.5% Provided that credit of input tax charged on goodsand services has not been taken [Please refer toExplanation no. (iv)].
9%
2.5% Provided that credit of input tax charged on(other than on ships, vessels including bulk carriersand tankers) has not been taken
9%
NIL
Page17 of 25
Provided that where the services are supplied to aGovernment Entity, they should have been procuredby the said entity in relation to a work entrusted to itby the Central Government, State Government, Unionterritory or local authority, as the case may be.
Provided that credit of input tax charged on goodsaken [Please refer to
Provided that credit of input tax charged on goods(other than on ships, vessels including bulk carriers
MONTHLY COMMUNIQUE
way of lease of landSupply of land orundivided share of land byway of lease or sub leasewhere such supply is apart of composite supply ofconstruction of flats, etc.specified in the entry incolumn (3), against serialnumber 3, at item (i); sub-item (b), sub-item (c),subitem (d), sub-item (da)and sub-item (db) of item(iv); sub-item (b), sub-item(c), sub-item (d) and sub-item (da) of item (v); andsub-item (c) of item (vi).Provided that nothingcontained in this entryshall apply to an amountcharged for such lease andsub-lease in excess of onethird of the total amountcharged for the saidcomposite supply. Totalamount shall have thesame meaning for thepurpose of this proviso asgiven in paragraph 2 of thisnotification
NIL
Real estate services otherthan (i) and (ii)
9%
Time charter of vessels fortransport of goods.
2.5%
Leasing or rental services,with or without operator,other than (i), (ii), (iii), (iv),(v), (vi) and (vii)
Same rateof centraltax asapplicableon supplyof likegoodsinvolvingtransferof title ingood
Services by way of house-keeping, such as plumbing,carpentering, etc. wherethe person supplying suchservice through electroniccommerce operator is not
2.5%
MONTHLY COMMUNIQUE
NIL
9%
2.5% Provided that credit of input tax charged on goods(other than on ships, vessels includingand tankers) has not been taken
Same rateof centraltax asapplicableon supplyof likegoodsinvolvingtransferof title ingoods2.5% Provided that credit of input tax charged on goods
and services has not been taken [Please refer toExplanation no. (iv)].
Page18 of 25
Provided that credit of input tax charged on goods(other than on ships, vessels including bulk carriers
Provided that credit of input tax charged on goodsand services has not been taken [Please refer to
MONTHLY COMMUNIQUE
liable for registration undersub-section (1) of section 22of the Central Goods andServices Tax Act, 2017.Support services other than(i) and (ii) .
9%
Service of exploration,mining or drilling ofpetroleum crude or naturalgas or both.
6%
Support services to mining,electricity, gas and waterdistribution other than (ii) .
9%
Services by way of house-keeping, such as plumbing,carpentering, etc. wherethe person supplying suchservice through electroniccommerce operator is notliable for registration undersub-section (1) of section 22of the Central Goods andServices Tax Act, 2017.
2.5%
Maintenance, repair andinstallation (exceptconstruction) services,other than (i)
9%
Tailoring services. 2.5%Manufacturing services onphysical inputs (goods)owned by others, otherthan (i), (ia), (ii), (iia) and(iii)
9%
Services by way oftreatment of effluents by aCommon EffluentTreatment Plant.
6%
Sewage and wastecollection, treatment anddisposal and otherenvironmental protectionservices other than (i) .
9%
Services by way ofadmission to amusementparks including themeparks, water parks, joyrides, merry-go rounds, go-carting and ballet.
9%
Services by way ofadmission to entertainmentevents or access toamusement facilities
14%
MONTHLY COMMUNIQUE
9%
6%
9%
2.5% Provided that credit of input tax charged on goodsand services has not been taken
9%
2.5%9%
6%
9%
9%
14%
Page19 of 25
Provided that credit of input tax charged on goods
MONTHLY COMMUNIQUE
including exhibition ofcinematograph films,casinos, race club, anysporting event such asIndian Premier League andthe like.http://www.cbec.gov.in/resources//htdocs
http://www.cbec.gov.in/resources//htdocs
Amendment in NIL rated supplies:
With the effect from 25th January, 2018
Notification No. 2/2018- Central Tax (Rate) 25th January 2018 read with No
12/2017-Central Tax (Rate)
Goods/ServiceComposite supply of goods and services inwhich the value of supply of goodsconstitutes not more than 25 per cent. of thevalue of the said composite supply providedto the Central Government, StateGovernment or Union territory or localauthority or a Governmental authority or aGovernment Entity by way of any activityin relation to any function entrusted to aPanchayat under article 243G of theConstitution or in relation to aentrusted to a Municipality under article243W of the ConstitutionServices by way of transportation of goodsby an aircraft from customs station ofclearance in India to a place outside India.
Services by way of transportation of goodsby a vessel from customs station ofclearance in India to a place outside India.
Services of life insurance provided oragreed to be provided by the Naval GroupInsurance Fund to the personnel of CoastGuard under the Group Insurance Schemesof the Central Government.Services by way of reinsurance of theinsurance schemes specified in serialnumber 35 or 36.Services by an intermediary of financialservices located in a multi services SEZwith International Financial Services Centre(IFSC) status to a customer located outsideIndia for international financialcurrencies other than Indian rupees (INR)
MONTHLY COMMUNIQUE
http://www.cbec.gov.in/resources//htdocs-cbec/gst/notfctn-01-2018-cgst-rate
http://www.cbec.gov.in/resources//htdocs-cbec/gst/notfctn-01-2018-igst-rate
Amendment in NIL rated supplies:
January, 2018
Central Tax (Rate) 25th January 2018 read with Notification No.
CGST Rate ConditionsComposite supply of goods and services inwhich the value of supply of goodsconstitutes not more than 25 per cent. of thevalue of the said composite supply provided
ral Government, StateGovernment or Union territory or localauthority or a Governmental authority or aGovernment Entity by way of any activityin relation to any function entrusted to aPanchayat under article 243G of theConstitution or in relation to any functionentrusted to a Municipality under article
Nil -
Services by way of transportation of goodsby an aircraft from customs station ofclearance in India to a place outside India.
Nil Nothing contained in thisserial numberafter the 30th day ofSeptember, 2018
Services by way of transportation of goodsby a vessel from customs station ofclearance in India to a place outside India.
Nil Nothing contained in thisserial number shall applyafter the 30th day ofSeptember, 2018
Services of life insurance provided oragreed to be provided by the Naval GroupInsurance Fund to the personnel of CoastGuard under the Group Insurance Schemes
Nil
Services by way of reinsurance of theschemes specified in serial
Nil
Services by an intermediary of financialservices located in a multi services SEZwith International Financial Services Centre(IFSC) status to a customer located outsideIndia for international financial services incurrencies other than Indian rupees (INR)
Nil
Page20 of 25
rate-english.pdf
rate-english.pdf
tification No.
Nothing contained in thisshall apply
after the 30th day ofSeptember, 2018Nothing contained in thisserial number shall applyafter the 30th day of
ptember, 2018
MONTHLY COMMUNIQUE
Services by way of fumigation in awarehouse of agricultural produce.Services by way of providing informationunder the Right to Information Act, 2005(22 of 2005).http://www.cbec.gov.in/resources//htdocs
http://www.cbec.gov.in/resources//htdocs
english.pdf;jsessionid=BCC7319CF7D6D8CE60CDE29272CE79D1
Old Car Sale & GST Impact
With the effect from 25th January
Notification No. 8/2018 -Central Tax (Rate) dated 25th January 2018 read with Notification No.
1/2017-Central Tax (Rate) dated 28th June 2017
Sl.No
Description of Goods
1. Old and used, petrol Liquefied petroleum gases (LPG) or compnatural gas (CNG) driven motor vehicles of engine capacity of 1200 cc ormore and of length of 4000 mm or more. Explanation.of this entry, the specification of the motor vehicle shall be determinedas per the Motor Vehicles Act,there under.
2. Old and used, diesel driven motor vehicles of engine capacity of 1500 ccor more and of length of 4000 mm Explanation.this entry, the specification of the motor vehicle shall bper the Motor Vehicles Act, 1988 (59 of 1988) and the rules made thereunder.
3. Old and used motor vehicles of engine capacity exceeding 1500 cc,popularly known as Sports Utility Vehicles (SUVs) including utilityvehicles. Explanation.motor vehicle of length exceeding 4000 mm and having groundclearance of 170 mm. and .
4. All Old and used Vehicles other than those mentioned from S. No. 1 toS.No.3
This notification shall not apply, if the supplier of such goods has availed input tax credit as
defined in clause (63) of section 2 of the Central Goods and Services Tax Act, 2017, CENVAT as
defined in CENVAT Credit Rules, 2004 or the input tax credit of Value Added Tax or any other
taxes paid, on such goods.
http://www.cbec.gov.in/resources//htdocs
http://www.cbec.gov.in/resources//htdocs
Following specific changes are with the effect from 25
Items taxable @ CGST 2.5%
Notification No. 6/2018-Central Tax (Rate) dated 25
1/2017-Central Tax (Rate)
Following items are taxable @ CGST 2.5%
MONTHLY COMMUNIQUE
Services by way of fumigation in awarehouse of agricultural produce.
Nil
Services by way of providing informationunder the Right to Information Act, 2005
Nil
http://www.cbec.gov.in/resources//htdocs-cbec/gst/notfctn-02-2018-cgst
http://www.cbec.gov.in/resources//htdocs-cbec/gst/notfctn-02-2018-igst
english.pdf;jsessionid=BCC7319CF7D6D8CE60CDE29272CE79D1
Old Car Sale & GST Impact
January, 2018
Central Tax (Rate) dated 25th January 2018 read with Notification No.
Central Tax (Rate) dated 28th June 2017
Description of Goods
Old and used, petrol Liquefied petroleum gases (LPG) or compressednatural gas (CNG) driven motor vehicles of engine capacity of 1200 cc ormore and of length of 4000 mm or more. Explanation. - For the purposesof this entry, the specification of the motor vehicle shall be determinedas per the Motor Vehicles Act, 1988 (59 of 1988) and the rules made
Old and used, diesel driven motor vehicles of engine capacity of 1500 ccor more and of length of 4000 mm Explanation. - For the purposes ofthis entry, the specification of the motor vehicle shall be determined asper the Motor Vehicles Act, 1988 (59 of 1988) and the rules made there
Old and used motor vehicles of engine capacity exceeding 1500 cc,popularly known as Sports Utility Vehicles (SUVs) including utility
. - For the purposes of this entry, SUV includes amotor vehicle of length exceeding 4000 mm and having groundclearance of 170 mm. and .All Old and used Vehicles other than those mentioned from S. No. 1 to
ply, if the supplier of such goods has availed input tax credit as
defined in clause (63) of section 2 of the Central Goods and Services Tax Act, 2017, CENVAT as
defined in CENVAT Credit Rules, 2004 or the input tax credit of Value Added Tax or any other
http://www.cbec.gov.in/resources//htdocs-cbec/gst/notfctn-08-2018-cgst-rate
http://www.cbec.gov.in/resources//htdocs-cbec/gst/Notification-for-CGST-rate
Following specific changes are with the effect from 25th January, 2018
Items taxable @ CGST 2.5%
Central Tax (Rate) dated 25th January 2018 read with Notification No.
Following items are taxable @ CGST 2.5%
Page21 of 25
cgst-rate-english.pdf
igst-rate-
Central Tax (Rate) dated 25th January 2018 read with Notification No.
CGSTRate in %
ressednatural gas (CNG) driven motor vehicles of engine capacity of 1200 cc or
For the purposesof this entry, the specification of the motor vehicle shall be determined
1988 (59 of 1988) and the rules made
9%
Old and used, diesel driven motor vehicles of engine capacity of 1500 ccFor the purposes of
e determined asper the Motor Vehicles Act, 1988 (59 of 1988) and the rules made there
9%
Old and used motor vehicles of engine capacity exceeding 1500 cc,popularly known as Sports Utility Vehicles (SUVs) including utility
For the purposes of this entry, SUV includes amotor vehicle of length exceeding 4000 mm and having ground
9%
All Old and used Vehicles other than those mentioned from S. No. 1 to 6%
ply, if the supplier of such goods has availed input tax credit as
defined in clause (63) of section 2 of the Central Goods and Services Tax Act, 2017, CENVAT as
defined in CENVAT Credit Rules, 2004 or the input tax credit of Value Added Tax or any other
rate-english.pdf
rate-Schedule.pdf
January 2018 read with Notification No.
MONTHLY COMMUNIQUE
i. Tamarind kernel powder
ii. Mehendi paste in cone
iii. Rice bran (other than de
iv. Liquefied Propane and Butane mixture, Liquefied Propane, Liquefied Butane and
Liquefied Petroleum Gases (LPG) for supply to household domestic consumers”;
v. Scientific and technical instruments, apparatus, equipment, accessories, parts,
components, spares, tools, mock ups and modules, raw material and consumables required for
launch vehicles and satellites and payloads”;
Following items are taxable @ CGST 6%
i. Sugar boiled confectionery”;
ii. Drinking water packed in 20 litres bottles”;
iii. Fertilizer grade phosphoric acid”;
iv. Bio-pesticides, namely -
var. kurstaki 3 Bacillus thuringiensis var. galleriae 4 Bacillus sphaericus 5 Trichodermaviride 6
Trichodermaharzianum 7 Pseudomonas f
Helicoverpaarmigera 10 NPV of Spodopteralitura 11 Neem based pesticides 12 Cymbopogan”;
v. Bio-diesel”;
vi. Bamboo wood building joinery
vii. Tableware and Kitchenware of wood”;
viii. Sprinklers; drip irrigation syste
Following items are taxable @ CGST 9%
i. derived from vegetable products[other than tamarind kernel powder]
ii. groundnut sweets, gajak and sugar boiled confectionery
matter nor flavoured ([other than Drinking wa
iii. Fertilizer grade Phosphoric acid
iv. Preparations for use on the hair [except Mehendi pate in Cones]
v. shingles and shakes[other than bamboo wood building joinery]
vi. Cigarette Filter rods”;
vii. Ghamella
viii. Sanitary ware and parts thereof, of iron and steel”;
ix. Buses for use in public transport which exclusively run on Bio
Following items are taxable @ CGST 14%
MONTHLY COMMUNIQUE
Tamarind kernel powder
Rice bran (other than de-oiled rice bran)
Liquefied Propane and Butane mixture, Liquefied Propane, Liquefied Butane and
Liquefied Petroleum Gases (LPG) for supply to household domestic consumers”;
Scientific and technical instruments, apparatus, equipment, accessories, parts,
ares, tools, mock ups and modules, raw material and consumables required for
launch vehicles and satellites and payloads”;
Following items are taxable @ CGST 6%
Sugar boiled confectionery”;
Drinking water packed in 20 litres bottles”;
r grade phosphoric acid”;
- 1 Bacillus thuringiensis var. israelensis 2 Bacillus thuringiensis
var. kurstaki 3 Bacillus thuringiensis var. galleriae 4 Bacillus sphaericus 5 Trichodermaviride 6
Trichodermaharzianum 7 Pseudomonas fluoresens 8 Beauveriabassiana 9 NPV of
Helicoverpaarmigera 10 NPV of Spodopteralitura 11 Neem based pesticides 12 Cymbopogan”;
Bamboo wood building joinery
Tableware and Kitchenware of wood”;
Sprinklers; drip irrigation system including laterals; mechanical sprayers”;
Following items are taxable @ CGST 9%
derived from vegetable products[other than tamarind kernel powder]
groundnut sweets, gajak and sugar boiled confectionery
matter nor flavoured ([other than Drinking water packed in 20 litres bottles)
Fertilizer grade Phosphoric acid
Preparations for use on the hair [except Mehendi pate in Cones]
shingles and shakes[other than bamboo wood building joinery]
tary ware and parts thereof, of iron and steel”;
Buses for use in public transport which exclusively run on Bio-fuels”;
Following items are taxable @ CGST 14%
Page22 of 25
Liquefied Propane and Butane mixture, Liquefied Propane, Liquefied Butane and
Liquefied Petroleum Gases (LPG) for supply to household domestic consumers”;
Scientific and technical instruments, apparatus, equipment, accessories, parts,
ares, tools, mock ups and modules, raw material and consumables required for
1 Bacillus thuringiensis var. israelensis 2 Bacillus thuringiensis
var. kurstaki 3 Bacillus thuringiensis var. galleriae 4 Bacillus sphaericus 5 Trichodermaviride 6
luoresens 8 Beauveriabassiana 9 NPV of
Helicoverpaarmigera 10 NPV of Spodopteralitura 11 Neem based pesticides 12 Cymbopogan”;
m including laterals; mechanical sprayers”;
MONTHLY COMMUNIQUE
i. “Motor vehicles for the transport of ten or more persons, including the driver [other tha
buses for use in public transport, which exclusively run on Bio
ii. Actionable claim in the form of chance to win in betting, gambling, or horse racing in race
club”;
Following items are taxable @ CGST 1.5%
i. Semi-precious stones, whether or not
semi-precious stones, temporarily strung for convenience of transport [other than Unworked or
simply sawn or roughly shaped]
ii. Synthetic or reconstructed semi
strung, mounted or set; ungraded synthetic or reconstructed semi
strung for convenience of transport]
iii. Imitation jewellery [other than bangles of lac/shellac]
Following items are taxable @ CGST 0.125%
i. Semi-precious stones, unworked or simply sawn or roughly shaped
ii. Precious stones (other than diamonds), ungraded precious stones (other than diamonds)
iii. Synthetic or reconstructed precious stones
iv. Synthetic or reconstructed semi
shaped
http://www.cbec.gov.in/resources//htdocs
english.pdf;jsessionid=1B0FA49206A996CFDF66444A0BB29E24
http://www.cbec.gov.in/resources//htdocs
Schedule.pdf
Exempted Items from CGST
Notification No.7/2018-Central Tax (Rate) dated 25th January 2018 read with Notification No.
2/2017-Central Tax (Rate) dated 28th June 2018
Following items are exempted from CGST:
i. Aquatic feed including shrimp feed and prawn feed, pou
including grass, hay & straw, supplement & husk of pulses, concentrates &
additives, wheat bran & de
ii. De-oiled rice bran
iii. Cotton seed oil cake
iv. Agricultural implements manually operated or animal driv
spades, shovels, mattocks, picks, hoes, forks and rakes; axes, bill hooks and similar
hewing tools; secateurs and pruners of any kind; scythes, sickles, hay knives, hedge
shears, timber wedges and other tools of a kind used in a
forestry. used in agriculture, horticulture or forestry the words,
v. Vibhuti
vi. Parts for manufacture of hearing aids
MONTHLY COMMUNIQUE
“Motor vehicles for the transport of ten or more persons, including the driver [other tha
buses for use in public transport, which exclusively run on Bio-fuels]
Actionable claim in the form of chance to win in betting, gambling, or horse racing in race
Following items are taxable @ CGST 1.5%
precious stones, whether or not worked or graded but not strung, mounted or set;
precious stones, temporarily strung for convenience of transport [other than Unworked or
simply sawn or roughly shaped]
Synthetic or reconstructed semi-precious stones, whether or not worked or grad
strung, mounted or set; ungraded synthetic or reconstructed semi-precious stones, temporarily
strung for convenience of transport]
Imitation jewellery [other than bangles of lac/shellac]
Following items are taxable @ CGST 0.125%
cious stones, unworked or simply sawn or roughly shaped
Precious stones (other than diamonds), ungraded precious stones (other than diamonds)
Synthetic or reconstructed precious stones
Synthetic or reconstructed semi-precious stones, unworked or simply sawn or roughly
http://www.cbec.gov.in/resources//htdocs-cbec/gst/notfctn-06-2018-cgst
nglish.pdf;jsessionid=1B0FA49206A996CFDF66444A0BB29E24
http://www.cbec.gov.in/resources//htdocs-cbec/gst/Notification-for-CGST
Central Tax (Rate) dated 25th January 2018 read with Notification No.
Central Tax (Rate) dated 28th June 2018
Following items are exempted from CGST:
Aquatic feed including shrimp feed and prawn feed, poultry feed & cattle feed,
including grass, hay & straw, supplement & husk of pulses, concentrates &
additives, wheat bran & de-oiled cake [other than rice-bran]
Agricultural implements manually operated or animal driven i.e. Hand tools, such as
spades, shovels, mattocks, picks, hoes, forks and rakes; axes, bill hooks and similar
hewing tools; secateurs and pruners of any kind; scythes, sickles, hay knives, hedge
shears, timber wedges and other tools of a kind used in agriculture, horticulture or
forestry. used in agriculture, horticulture or forestry the words, other than ghamella
Parts for manufacture of hearing aids
Page23 of 25
“Motor vehicles for the transport of ten or more persons, including the driver [other than
Actionable claim in the form of chance to win in betting, gambling, or horse racing in race
worked or graded but not strung, mounted or set;
precious stones, temporarily strung for convenience of transport [other than Unworked or
precious stones, whether or not worked or graded but not
precious stones, temporarily
Precious stones (other than diamonds), ungraded precious stones (other than diamonds)
or simply sawn or roughly
cgst-rate-
CGST-rate-
Central Tax (Rate) dated 25th January 2018 read with Notification No.
ltry feed & cattle feed,
including grass, hay & straw, supplement & husk of pulses, concentrates &
en i.e. Hand tools, such as
spades, shovels, mattocks, picks, hoes, forks and rakes; axes, bill hooks and similar
hewing tools; secateurs and pruners of any kind; scythes, sickles, hay knives, hedge
griculture, horticulture or
other than ghamella
MONTHLY COMMUNIQUE
http://www.cbec.gov.in/resources//htdocs
english.pdf;jsessionid=95ED242378594E535CA04659B3EC7A01
http://www.cbec.gov.in/resources//htdocs
exemption.pdf
http://www.cbec.gov.in/htdocs
http://www.cbec.gov.in/resources//htdocs
Notification No 9/2018-Central Tax (Rate) dated 25
45/2017 of Central (Rate) dated 14
CGST needs to be charged @ 2.5% for few entities as per notification 45/2017 of Central (Rate)
dated 14th November 2017
The following entry shall be substituted in notification 45/2017, namely:
1. “Public funded research institution or a University or an Indian Institute of Technology or
Indian Institute of Science, Bangalore or a Regional Engineering College, oth
hospital”;
2. Department of Scientific and Research”, the words “Department of Scientific and
Industrial Research”, shall be substituted.
http://www.cbec.gov.in/resources//htdocs
http://www.cbec.gov.in/htdocs
http://www.cbec.gov.in/resources//htdocs
http://gstcouncil.gov.in/sites/default/files/gst%20rates/notfctn
Procedure with respect to payment of tax.
(Notification No. 4/2018-
Seeks to provide special procedure
supplying service by way of construction against transfer of development right and vice versa.
Personregistered persons who supplydevelopment rights to a developer, builder,construction company or any otherregistered person against consideration,wholly or partly, in the form ofconstruction service of complex, buildingor civil structure; - (a)registered persons who supplyconstruction service of complex, buildingor civil structure to supplier ofdevelopment rights against consideration,wholly or partly, in the form of transfer ofdevelopment rights – (b)
MONTHLY COMMUNIQUE
http://www.cbec.gov.in/resources//htdocs-cbec/gst/notfctn-07-2018-cgst
english.pdf;jsessionid=95ED242378594E535CA04659B3EC7A01
http://www.cbec.gov.in/resources//htdocs-cbec/gst/Notification-for-CGST
/www.cbec.gov.in/htdocs-cbec/gst/Notification-for-CGST-rate-Schedule.pdf
http://www.cbec.gov.in/resources//htdocs-cbec/gst/notfctn-09-2018-igst
Central Tax (Rate) dated 25th January 2018read with notification
45/2017 of Central (Rate) dated 14th November 2017
CGST needs to be charged @ 2.5% for few entities as per notification 45/2017 of Central (Rate)
The following entry shall be substituted in notification 45/2017, namely:
“Public funded research institution or a University or an Indian Institute of Technology or
Indian Institute of Science, Bangalore or a Regional Engineering College, oth
Department of Scientific and Research”, the words “Department of Scientific and
Industrial Research”, shall be substituted.
cbec.gov.in/resources//htdocs-cbec/gst/notfctn-09-2018-cgst-rate
http://www.cbec.gov.in/htdocs-cbec/gst/notfctn-45-cgst-rate-english.pdf
http://www.cbec.gov.in/resources//htdocs-cbec/gst/notfctn-10-2018-igst-rate
http://gstcouncil.gov.in/sites/default/files/gst%20rates/notfctn-47-igst-rate
Procedure with respect to payment of tax.
-Central Tax (Rate) dated 25th
Seeks to provide special procedure with respect to payment of tax by registered person
supplying service by way of construction against transfer of development right and vice versa.
Taxability & Time of Supplyregistered persons who supplydevelopment rights to a developer, builder,construction company or any otherregistered person against consideration,wholly or partly, in the form ofconstruction service of complex, building
as the registered persons in whose case theliability to pay central tax on supsaid services, on the consideration receivedin the form of construction service referred toin clause (a) and in the form of developmentrights referred to in clause (b) , shall arise atthe time when the said developer, builder,construction company or any other registeredperson, as the case may be, transferspossession or the right in the constructedcomplex, building or civil structure, to theperson supplying the development rights byentering into a conveyance deed or similarinstrument (for example allotment letter).
registered persons who supplyconstruction service of complex, buildingor civil structure to supplier ofdevelopment rights against consideration,wholly or partly, in the form of transfer of
Page24 of 25
cgst-rate-
CGST-
Schedule.pdf
igst-rate-english.pdf
January 2018read with notification
CGST needs to be charged @ 2.5% for few entities as per notification 45/2017 of Central (Rate)
“Public funded research institution or a University or an Indian Institute of Technology or
Indian Institute of Science, Bangalore or a Regional Engineering College, other than a
Department of Scientific and Research”, the words “Department of Scientific and
rate-english.pdf
rate-english.pdf
rate-english.pdf
January 2018)
with respect to payment of tax by registered person
supplying service by way of construction against transfer of development right and vice versa.
as the registered persons in whose case theliability to pay central tax on supply of thesaid services, on the consideration receivedin the form of construction service referred toin clause (a) and in the form of developmentrights referred to in clause (b) , shall arise atthe time when the said developer, builder,
company or any other registeredperson, as the case may be, transferspossession or the right in the constructedcomplex, building or civil structure, to theperson supplying the development rights byentering into a conveyance deed or similar
for example allotment letter).
MONTHLY COMMUNIQUE
http://www.cbec.gov.in/resources//htdocs
http://www.cbec.gov.in/resources//htdocs
Specification Of services supplied by the Central Govt., State Govt. Union Territory, or
Local Territory
(Notification No. 3/2018- Central Tax (Rate) dated 25
Seeks to amend notification No. 13/2017
by the Central Government, State Government, Union territory or local authority by way of
renting of immovable property
Reverse Charge Mechanism (RCM)
Service
Services supplied by the CentralGovernment, State Government,Union territory or local authority byway of renting of immovableproperty to a person registeredunder the Central Goods andServices Tax Act, 2017 (12 of 2017).http://www.cbec.gov.in/resources//htdocs
http://www.cbec.gov.in/resources//htdocs
We are encouraged by our readers and the complements received.In our endeavor to improve our
quality we request you to give two minutes time to give feedback.
write us at–communique@ainoglobal.com
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HVJ & Team…!
This is meant for private circulation only
HVJ & Ass
No. 18/1, Jain Bhawan,Shanthinagar,BangaloreTel . 080 4E-Mail : info@Web : www.
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MONTHLY COMMUNIQUE
http://www.cbec.gov.in/resources//htdocs-cbec/gst/notfctn-04-2018-cgst
http://www.cbec.gov.in/resources//htdocs-cbec/gst/notfctn-04-2018-igst
Specification Of services supplied by the Central Govt., State Govt. Union Territory, or
ntral Tax (Rate) dated 25th January 2018)
Seeks to amend notification No. 13/2017- Central Tax (Rate) so as to specify services supplied
by the Central Government, State Government, Union territory or local authority by way of
to a registered person under CGST Act, 2017 to be taxed under
Reverse Charge Mechanism (RCM)
Service Provider Service Receiver whoneeds to pay tax underRCM
Services supplied by the CentralGovernment, State Government,
authority byway of renting of immovableproperty to a person registeredunder the Central Goods andServices Tax Act, 2017 (12 of 2017).
Central Government,State Government,Union territory orlocal authority
Any person registeredunder the Central Goodsand Services Tax Act,2017.
http://www.cbec.gov.in/resources//htdocs-cbec/gst/notfctn-03-2018-cgst
http://www.cbec.gov.in/resources//htdocs-cbec/gst/notfctn-03-2018-igst
We are encouraged by our readers and the complements received.In our endeavor to improve our
y we request you to give two minutes time to give feedback.
communique@ainoglobal.com
This is meant for private circulation only
ssociates
No. 18/1, Jain Bhawan, Third Floor, Andree Road,Shanthinagar,Bangalore – 560027
41158620 | 7353444222|Mail : info@hvj.co.in
Web : www.hvj.co.in
on
Page25 of 25
cgst-rate-english.pdf
igst-rate-english.pdf
Specification Of services supplied by the Central Govt., State Govt. Union Territory, or
Central Tax (Rate) so as to specify services supplied
by the Central Government, State Government, Union territory or local authority by way of
to a registered person under CGST Act, 2017 to be taxed under
Service Receiver whoneeds to pay tax under
Any person registeredunder the Central Goodsand Services Tax Act,
cgst-rate-english.pdf
igst-rate-english.pdf
We are encouraged by our readers and the complements received.In our endeavor to improve our
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