Implementation of blocking facility of ITC by the GST authorities

CIRCULAR F. NO. 587/CE/167/POL/2019/11219-11269 DATED 13-1-2020

Attention is drawn to the provisions of Rule 86A(1)(a) of the Central Goods and Services Tax Rules, 2017 which empowers the CGST officers to block input tax credit (ITC) under certain circumstances.

Labourer gets Income Tax demand notice of Rs 1.05 crore! Do this if you also get

labourer in Maharashtra recently got a shock of his life when the Income Tax department sent him a notice to pay Rs 1.05 crore as income tax for the assessment year 2017-18 to the government. News agency ANI reported that daily wage labourer Bhausaheb Ahire had received an income tax notice, asking him to pay Rs 1,05,83,564 as income tax for assessment year 2017-18. The notice said that Ahire had an undisclosed amount of Rs 21,00,000 and Rs 56,81,000 as other deposits in his bank account. Shocked with the notice, Ahire told the news agency, “Ï am a labourer who gets work only once or twice a week. I earn my livelihood that way. I have not seen even Rs 1 lakh in my life, how can I pay Rs 1.95 crore? This is fraudulence. Action should be taken.”
https://www.financialexpress.com/money/income-tax/how-to-respond-to-wrong-income-tax-demand-notice-step-by-step-guide-labourer-rs-1-05-crore/1827294/lite/

Is GST liable on hiring charge of vehicle from one GTA to another GTA

The applicant being a Goods Transport Agency (GTA) wants to be registered under GST. It has sought an advance ruling to determine whether it can provide vehicles used for transportation of goods on hire basis to another GTA?

Be ready to face GST Audit- Department has started issuing GST audit notices to Taxpayers

It's almost close to three years since the roll-out of the biggest indirect tax reform, the Goods and Services Tax (GST). The government has now launched a massive enforcement drive, pan-India with a motive to check tax evasion and re-confirm fake credits. The taxman has started issuing GST audit notices to taxpayers for the first year of the roll-out, i.e. GST FY17-18.

Recommendation of the 38 Meetings of the GST Council

The 38 Meetings of the GST Council met under the Chairmanship of the Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman here today. The meeting was also attended by the Union Minister of State for Finance & Corporate Affairs Shri Anurag Thakur besides Finance Ministers of States & UTs and senior officers of the Ministry of Finance. The GST Council recommended the following:

Guidelines for manual selection of returns for Complete Scrutiny during the financial-year 2019-20

1. The parameters for manual selection of returns for Complete Scrutiny during financial year 2019-20 are as under.-

(i) Cases involving addition in an earlier assessment year(s) on a recurring issue of law or fact: –

SABKA VISHWAS (LEGACY DISPUTE RESOLUTION) SCHEME, 2019

Q 1. Who is eligible to file declaration under the SABKA VISHWAS (LEGACY DISPUTE RESOLUTION) SCHEME, 2019?

Ans. Any person falling under the following categories is eligible, subject to other conditions under the Scheme, to file a declaration:

(a) Who has a show cause notice for duty or one or more appeals arising out of such notice pending and where the final hearing has not taken place as on 30.06.2019.

Waive off of filing of FORM ITC-04 for F.Y. 2017-18 & 2018-19 i.e. details of Job work

As per section 143 of The CGST Act 2017 read with Rule 45 of the CGST Rules 2017 , 

A registered person (i.e.“principal”) may send any inputs or capital goods, without payment of tax, to a job worker for job work and from there subsequently send to another job worker and likewise, and shall bring back inputs, after completion of job work or otherwise, or capital goods, other than moulds and dies, jigs and fixtures, or tools, within one year and three years, respectively, of their being sent out, to any of his place of business, without payment of tax. Subject to condition that it will be informed to tax authority and condition prescribed under rule 45 are fulfilled.

Exemption U/S 54B cannot be claimed if new asset bought before trasnfer of capital asset

Assessee purchased two properties on 2-12-2011 and 1-2-2012. Thereafter, he sold certain parcels of agricultural land on 21-2-2012. He claimed exemption under section 54B against sale of such agricultural land. Assessing Officer (AO) had disallowed exemption in respect of one parcel of land and allowed exemption in respect of other.

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