There is refund provision in certain cases like inverted tax structure , export etc.
But as explained by Mr. Pankaj, Abhi nikalwana muskil hai
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Inability to file GST TRAN-01 : Petition before Delhi HC for GSTN Technical Glitches [Read Petition]
Read more at: http://www.taxscan.in/inability-file-gst-tran-01-petition-delhi-hc-gstn-technical-glitches/17806/
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Deduction U/S 80-IB is allowable to Builder even If Construction is not according to the Approved Plan: Bombay HC [Read Judgment]
Read more at: http://www.taxscan.in/deduction-u-s-80-ib-is-allowable-to-builder-even-if-construction-is-not-according-to-the-approved-plan-bombay-hc/17821/
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Tax Payers who omitted to record ITC paid on Expenses in GSTR 3B can account the same for subsequent period: GSTN
Read more at: http://www.taxscan.in/tax-payers-who-omitted-to-record-itc-paid-on-expenses-in-gstr-3b-can-account-the-same-for-subsequent-period-gstn/17829/
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Amount received for providing Common facilities is subject to Service Tax under the head ‘renting of immovable property’: CESTAT [Read Order]
Read more at: http://www.taxscan.in/amount-received-for-providing-common-facilities-is-subject-to-service-tax-under-the-head-renting-of-immovable-property-cestat/17832/
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Trust Not Entitled to Tax Exemption in the year in which its Receipts from the Commercial Activities exceed the Threshold Limit: ITAT [Read Order]
Read more at: http://www.taxscan.in/trust-not-entitled-to-tax-exemption-in-the-year-in-which-its-receipts-from-the-commercial-activities-exceed-the-threshold-limit-itat/17636/
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# *MCA* has appointed 9th Feb, 2018 as the date on which many of the provisions of Companies (Amendment) Act, 2017 shall come into force – Notification, dt.09.02.2018.
# *GST*: Levy of IGST on ocean freight whereas the value of import goods includes Ocean Freight - Vires of N/N.8/2017-Integrated Tax (Rate) dt. 28.06.2017 and Entry 10 of the N/N. 10/2017 - interim relief granted - Mohit Minerals Pvt. Ltd. Vs. Union of India (2018 (2) TMI 770 - Gujarat High Court).
# *IT*: Claim of expenses u/s 48 - Words wholly and exclusively do not connote necessarily - The words in connection with are of wide import – AAR (In Re: Honda Motor Co Ltd.).
# *RBI* has introduced new Non-Performing Assets (NPA) norms effective from 13 Feb 2018 and withdraws CDR, SDR, S4A, JLF, etc. with immediate effect. The Salient Features are:
• Now Banks to implement a resolution plan within 180 days where exposure is Rs.2,000 Crore and above, failing which the NPA account to be referred to the NCLT under IBC within 15 days.
• RBI to notify time limit separately for loan account below Rs.2,000 Crores.
• Banks need to make appropriate disclosures in their financial statements, under ‘Notes on Accounts’, relating to resolution plans implemented.
• The new Rules require banks to report default over Rs. 5 Crore on a weekly basis to the RBI.
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CA Result mismatch: ICAI to give Certified Copies to Aggrieved Students
Read more at: http://www.taxscan.in/ca-result-mismatch-icai-to-give-certified-copies-to-aggrieved-students/17804/
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👉🏻IT raid cases will not be processed under e-assessment - CBDT*
( The soon-to-be rolled out pan India e-assessment system for scrutiny cases of taxpayers will not be applicable to instances where a raid has been conducted against an assessee by the Income Tax (IT) department, CBDT Said)
👇🏻 👇🏻 👇🏻
https://goo.gl/Nm1Q3s
*👉🏻Govt of India makes Amendments in Small Savings Act*
(Govt gives highest priority to the interest of small savers, especially savings for the benefit of girl child, the senior citizens and the regular savers who form the backbone of our country’s savings architecture)
👇🏻 👇🏻 👇🏻
https://goo.gl/MCNkbr
*👉🏻ICAI seeks one more disciplinary committee Bench*
( ICAI has requested the government to give its nod for one more Bench of disciplinary committee to strengthen the disciplinary mechanism. This proposed new Bench of disciplinary committee will be dedicated for “public interest cases” that may warrant immediate attention)
👇🏻 👇🏻 👇🏻
https://goo.gl/M6z9N3
*👉🏻Appointment of Concurrent Auditor for the Specialized Unit of BOB*
( Bank of Baroda (BoB) invites applications for appointment of concurrent auditors of Specialized Unit -Specialized Integrated Treasury Branch (SITB)
👇🏻 👇🏻 👇🏻
https://goo.gl/CyfHHB
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ITAT Deletes Penalty against CA Firm though It failed to prove that Expenses incurred for travelling of Articled Clerks is not Fringe Benefit [Read Order]
Read more at: http://www.taxscan.in/itat-deletes-penalty-against-ca-firm-failed-prove-expenses-incurred-travelling-articled-clerks-fringe-benefit/17798/
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File ITR for AY 2017-18 if not already filed as it can be filed latest by 31-3-18. Now ITR can be filed by earlier of 1 year & completion of assessment.
E Way Bill which was postponed by the Govt due to technical glitches in the common portal is likely to roll out by the end of this month.
To check Status of Last 5 Returns filed by taxpayer, enter GSTIN in Search Taxpayer option on www.gst.gov.in without logging into account.
MCA has appointed 9th February, 2018 as the date on which many of the provisions of Companies (Amendment) Act, 2017 shall come into force, vide notification dated 9th February, 2018.
RBI instructed that Banks must implement a resolution plan within 180 days where exposure is Rs 2,000 crore and above, failing which the NPA account has to be referred to the insolvency and bankruptcy code within 15 days. It also withdrew SDR and S4A.
Delhi High Court recently dismissed a petition challenging the results of Chartered Accountants (CA Exam Final) examination held on November 2017.
Union Bank of India invites applications from CA Firms for empanelment as Concurrent Auditors of branches for the period from 01.04.2018 to 31.03.2019 in the prescribed format on or before 23.02.2018.
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📺 *Updates*
➡1. 10 Things to Know About e-Assessments
https://www.taxmann.com/topstories/222330000000014353/10-things-to-know-about-e-assessments.aspx
➡2. Guarantors are excluded from section 29A when guarantee not invoked under Bankruptcy Code
RBL Bank Ltd. v. MBL Infrastructures Ltd.
➡3. HC can empower Additional Chief Magistrate to discharge function of Chief Magistrate under SARFAESI Act
Capital First Ltd. v. State of Maharashtra
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Bombay HC quashes FEMA proceedings against Lalit Modi : Asks RBI & Govt to seriously consider FEMA violations in IPL [Read Judgment]
Read more at: http://www.taxscan.in/bombay-hc-quashes-fema-proceedings-lalit-modi-rbi-govt-fema-violations-in-ipl/17752/
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CBDT issues Instructions for conducting E-Assessment [Read Instructions]
Read more at: http://www.taxscan.in/cbdt-issues-instructions-conducting-e-assessment/17769/
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Foreign Language Training Institute is Eligible for Service Tax Exemption : CESTAT [Read Order]
Read more at: http://www.taxscan.in/institute-imparting-training-foreign-language-training-institute-eligible-service-tax-exemption-cestat/17764/
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Revisional Proceedings under CST Rules must be concluded within a period of 3 years from the Date of passing of Final Orders: Orissa HC [Read Judgment]
Read more at: http://www.taxscan.in/revisional-proceedings-cst-rules-concluded-within-period-3-years-date-passing-final-orders-orissa-hc/17774/
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GST Portal issues Advisory to Exporters for Refund of IGST and for Filing of GSTR 3B
Read more at: http://www.taxscan.in/gst-portal-issues-advisory-to-exporters-for-refund-of-igst-and-for-filing-of-gstr-3b/17778/
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Karnataka HC Confirms Withdrawal of 12AA Registration since Trust Collected Capitation Fee under Innocuous Name of Anonymous Donations [Read Judgment]
Read more at: http://www.taxscan.in/hc-confirms-withdrawal-12aa-registration-trust-collected-capitation-fee/17734/
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PIL in Gujarat HC challenges Authority of Advance Ruling under GST: Issues Notice to Centre [Read Petition]
Read more at: http://www.taxscan.in/pil-gujarat-hc-challenges-authority-advance-ruling-gst/17791/
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GST - Circular No. 32/06/2018-GSTF. No. 354/17/2018-TRU
Subject: *Clarifications regarding GST in respect of certain services*
I am directed to issue clarification with regard to the following issues approved by the GST Council in its 25th meeting held on 18th January 2018:-
S. No./Issue/ Clarification
1 *Is hostel accommodation provided by Trusts to students covered within the definition of Charitable Activities and thus, exempt under Sl. No. 1 of notification No. 12/2017-CT (Rate)*.
Hostel accommodation services do not fall within the ambit of charitable activities as defined in para 2(r) of notification No. 12/2017-CT(Rate). However, services by a hotel, inn, guest house, club or campsite, by whatever name called, for residential or lodging purposes, having declared tariff of a unit of accommodation below one thousand rupees per day or equivalent are exempt. Thus, accommodation service in hostels including by Trusts having declared tariff below one thousand rupees per day is exempt. [Sl. No. 14 of notification No. 12/2017-CT(Rate) refers]
2 *Is GST leviable on the fee/amount charged in the following situations/cases:* –
(1) A customer pays fees while registering complaints to Consumer Disputes Redressal Commission office and its subordinate offices. These fees are credited into State Customer Welfare Fund’s bank account.
(2) Consumer Disputes Redressal Commission office and its subordinate offices charge penalty in cash when it is required.
(3) When a person files an appeal to Consumers Disputes Redressal Commission against order of District Forum, amount equal to 50% of total amount imposed by the District Forum or Rs 25000/- whichever is less, is required to be paid.
Services by any court or Tribunal established under any law for the time being in force is neither a supply of goods nor services. Consumer Disputes Redressal Commissions (National/ State/ District) may not be tribunals literally as they may not have been set up directly under Article 323B of the Constitution. However, they are clothed with the characteristics of a tribunal on account of the following: -
(1) Statement of objects and reasons as mentioned in the Consumer Protection Bill state that one of its objects is to provide speedy and simple redressal to consumer disputes, for which a quasijudicial machinery is sought to be set up at District, State and Central levels
(2) The President of the District/ State/National Disputes Redressal Commissions is a person who has been or is qualified to be a District Judge, High Court Judge and Supreme Court Judge respectively
(3) These Commissions have been vested with the powers of a civil court under CPC for issuing summons, enforcing attendance of defendants/witnesses, reception of evidence, discovery/production of documents, examination of witnesses, etc.
(4) Every proceeding in these Commissions is deemed to be judicial proceedings as per sections 193/228 of IPC.
(5) The Commissions have been deemed to be a civil court under CrPC.
(6) Appeals against District Commissions lie to State Commission while appeals against the State Commissions lie to the National Commission. Appeals against National Commission lie to the Supreme Court.
In view of the aforesaid, it is hereby clarified that fee paid by litigants in the Consumer Disputes Redressal Commissions are not leviable to GST. Any penalty imposed by or amount paid to these Commissions will also not attract GST.
3 *Whether the services of elephant or camel ride, rickshaw ride and boat ride should be classified under heading 9964 (as passenger transport service) in which case, the rate of tax on such services will be 18% or under the heading 9996 (recreational, cultural and sporting services) treating them as joy rides, leviable to GST@ 28%?*
Elephant/ camel joy rides cannot be classified as transportation services. These services will attract GST @ 18% with threshold exemption being available to small service providers. [Sl. No 34(iii) of notification No. 11/2017-CT(Rate) dated 28.06.2017 as amended by notification No. 1/2018-CT(Rate) dated 25.01.2018 refers]
4 *What is the GST* rate applicable on rental services of self-propelled access equipment (Boom Scissors
Telehandlers)?*
The equipment is imported at GST rate of 28% and leased further in India where operator is supplied by the leasing company, diesel for working of machine is supplied by customer and transportation cost including loading and unloading is also paid by the customer.
Leasing or rental services, with or without operator, for any purpose are taxed at the same rate of GST as applicable on supply of like goods involving transfer of title in goods. Thus, the GST rate for the rental services in the given case shall be 28%, provided the said goods attract GST of 28%. IGST paid at the time of import of these goods would be available for discharging IGST on rental services. Thus, only the value added gets taxed. [Sl. No 17(vii) of notification No. 11/2017- CT(Rate) dated 28.6.17 as amended refers].
5 *Is GST leviable in following cases:*
(1) Hospitals hire senior doctors/ consultants/ technicians independently, without any contract of such persons with the patient; and pay them consultancy charges, without there being any employeremployee relationship. Will such consultancy charges be exempt from GST? *Will revenue take a stand that they are providing services to hospitals and not to patients and hence must pay GST?*
(2) Retention money: Hospitals charge the patients, say, Rs.10000/- and pay to the consultants/ technicians only Rs. 7500/- and keep the balance for providing ancillary services which include nursing care, infrastructure facilities, paramedic care, emergency services, checking of temperature, weight, blood pressure etc. *Will GST be applicable on such money retained by the hospitals?*
(3) Food supplied to the patients: Health care services provided by the clinical establishments will include food supplied to the patients; but such food may be prepared by the canteens run by the hospitals or may be outsourced by the Hospitals from outdoor caterers. When outsourced, there should be no ambiguity that the suppliers shall charge tax as applicable and hospital will get no ITC. If hospitals have their own canteens and prepare their own food; then no ITC will be available on inputs including capital goods and in turn if they supply food to the doctors and their staff; such supplies, even when not charged, may be subjected to GST.
Health care services provided by a clinical establishment, an authorised medical practitioner or para-medics are exempt. [Sl. No. 74 of notification No. 12/2017- CT(Rate) dated 28.06.2017 as amended refers].
(1). Services provided by senior doctors/ consultants/ technicians hired by the hospitals, whether employees or not, are healthcare services which are exempt.
(2) Healthcare services have been defined to mean any service by way of diagnosis or treatment or care for illness, injury, deformity, abnormality or pregnancy in any recognised system of medicines in India[para 2(zg) of notification No. 12/2017- CT(Rate)]. Therefore, hospitals also provide healthcare services. The entire amount charged by them from the patients including the retention
money and the fee/payments made to the doctors etc., is towards the healthcare services provided by the hospitals to the patients and is exempt.
(3) Food supplied to the in-patients as advised by the doctor/nutritionists is a part of composite supply of healthcare and not separately taxable. Other supplies of food by a hospital to patients (not admitted) or their attendants or visitors are taxable.
6 *Appropriate clarification may be issued regarding taxability of Cost Petroleum*
As per the Production Sharing Contract(PSC) between the Government and the oil exploration & production contractors, in case of a commercial discovery of petroleum, the contractors are entitled to recover from the sale proceeds all expenses incurred in exploration, development, production and payment of royalty. Portion of the value of petroleum which the contractor is entitled to take in a year for recovery of these contract costs is called “Cost Petroleum”.
The relationship of the oil exploration and production contractors with the Government is not that of partners but that of licensor/lessor and licensee/lessee in terms of the Petroleum and Natural Gas Rules, 1959. Having acquired the right to explore, exploit and sell petroleum in lieu of royalty and a share in profit petroleum, contractors carry out the exploration and production of petroleum for themselves and not as a service to the Government. Para 8.1 of the Model Production Sharing Contract (MPSC) states that subject to the provisions of the PSC, the Contractor shall have exclusive right to carry out Petroleum Operations to recover costs and expenses as provided in this Contract. The oil exploration and production contractors conduct all petroleum operations at their sole risk, cost and expense. Hence, cost petroleum is not a consideration for service to GOI and thus not taxable per se. However, cost petroleum may be an indication of the value of mining or exploration services provided by operating member to the joint venture, in a situation where the operating member is found to be supplying service to the oil exploration and production joint venture.