9 New functionalities made available on GST Portal

Following new functionalities have been made available on GST Portal for you, in last few days: A. For Normal Taxpayers: 1. GSTR-2 Offline Version 2.1– New version of GSTR-2 offline tool is available on GST portal now. You can use this tool to export data of GSTR-2 from Tool to Excel. This will also help you in comparing data with purchase register to take actions like accept, reject and modify for receiver. 2. Form GST ITC-04– A functionality has been provided to Manufacturers to intimate details of Goods/capital goods sent to job worker and received back. This is a quarterly Statement to be furnished by them. 3. Form GST PMT-07– Application for intimating discrepancy relating to payment (PMT-07 Grievance for payment) is available on GST Portal for you. This functionality

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Change in Rate of GST- Item wise & Chapter wise List of Goods

  RECOMMENDATIONS FOR CHANGES IN GST/IGST RATE AND CLARIFICATIONS IN RESPECT OF GST RATE ON CERTAIN GOODS [As per discussions in the 23rd GST Council Meeting held on 10thNovember, 2017] These decisions of the GST Council are being communicated for general information, and will be given effect to through Gazette notifications / circulars which only shall have the force of law. A. LIST OF GOODS ON WHICH GST RATE RECOMMENDED FOR REDUCTION FROM 28% TO 18% S. No. Chapter/ Heading/ Subheading/ Tariff item Description 1. 1704 Chewing gum / bubble gum and white chocolate, not containing cocoa [17041000, 17049090] 2. 1804 Cocoa butter, fat and oil 3. 1805 Cocoa powder, not containing added sugar or sweetening matter 4. 1806 Chocolates and other food preparations containing cocoa 5. 1901 90 [other than

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Banking Facility for Senior Citizens and Differently abled Persons

  Statement on Developmental and Regulatory Policies – October 4, 2017- Banking Facility for Senior Citizens and Differently abled Persons RBI/2017-18/89 DBR.No.Leg.BC.96/09.07.005/2017-18 November 9, 2017 All Scheduled Commercial Banks (including RRBs) All Small Finance Banks and Payments Banks Dear Sir/ Madam Statement on Developmental and Regulatory Policies – October 4, 2017-Banking Facility for Senior Citizens and Differently abled Persons Please refer to Paragraph 8 of Statement on Developmental and Regulatory Policies, released by Reserve Bank of India on October 4, 2017 as part of Fourth Bi-monthly Monetary Policy Statement 2017-18, a copy of which is enclosed. It has been observed that there are occasions when banks discourage or turn away senior citizens and differently abled persons from availing banking facilities in branches. Notwithstanding the need to push digital transactions and

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Sec. 10(46) CBDT notifies Haryana State Legal Services Authority

  Under Section 10(46) of the Income-tax Act, 1961 Central Government notifies Haryana State Legal Services Authority, constituted by the Government of Haryana under the Legal Services Authorities Act, 1987, in respect of the following specified income arising to that Authority. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 9th November, 2017 S.O. 3563(E).—In exercise of the powers conferred by clause (46) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies for the purposes of the said clause, the Haryana State Legal Services Authority, constituted by the Government of Haryana under the Legal Services Authorities Act, 1987, in respect of the following specified income arising to that Authority, namely:— (a) grants received from Central Authority i.e.

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Sec. 10(46) CBDT notifies ‘Telangana Building and Other Construction Workers Welfare Board’

  Under Section 10(46) of the Income-tax Act, 1961 Central Government notifies ‘Telangana Building and Other Construction Workers Welfare Board’, a board established by the Government of Telangana, in respect of the following specified income arising to that board. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) Notification No. 95/2017 New Delhi, the 9th November, 2017 S.O. 3564(E).—In exercise of the powers conferred by clause (46) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies for the purposes of the said clause, ‘Telangana Building and Other Construction Workers Welfare Board’, a board established by the Government of Telangana, in respect of the following specified income arising to that board, namely:— (a) Cess received; (b) Registration and renewal fee collection from the

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Appoint counsels to represent cases before NCLT: CBDT to PrCCIT

  MOST URGENT F.No.278/M-52/2003-ITJ(Pt.) Government of India Ministry of Finance (Department of Revenue) Central Board of Direct Taxes *** New Delhi, the 8th November, 2017 To, All Pr. Chief Commissioners of Income Tax, Subject:- Issue regarding representation before the benches of National Company Law Tribunal (NCLT) – reg. Sir/Madam, Kindly refer to the above. 2. On June 01,2016, the Ministry of Corporate Affairs (MCA) published a notification regarding the constitution of National Company Law Tribunal (NCLT) and National Company Law Appellate Tribunal (NCLAT). The setting up of the NCLT and NCLAT are part of the efforts to move to a regime of faster resolution of corporate disputes and to pave way for the faster implementation of the bankruptcy code. Under the new “Insolvency and Bankruptcy Code” 2016, 11 Benches of

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Part of the Road to GES series, NITI Aayog holds the Blockchain summit and hackathon at IIT Delhi, Nov 10 – 13 

  As part of the series of Road to GES events, in the run up to the Global Entrepreneurship Summit, NITI Aayog along with Proffer, a blockchain startup founded by graduates of MIT and Harvard, are organising a Blockchain summit and hackathon at IIT Delhi from Nov 10-13, 2017. The objective of the event is to explore how blockchain architectures can enable a new digital infrastructure for India, improving efficiency, transparency, privacy, and cost across all sectors. 1,500+ students from IITs, MIT, Harvard, Berkeley, and top engineering institutions around the world will be participating in the event, with 500 attending in-person on IIT Delhi’s campus. Microsoft, IBM, Accel, Coinbase, and Amazon AWS are sponsoring $17,000+ in prizes to reward the top 5 blockchain-based applications addressing problems in government/enterprise infrastructure, finance,

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MCA notifies Form AOC-4 applicable for FY 2016-17

  MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the 7th November, 2017 G.S.R. 1371(E).—In exercise of the powers conferred by sub-sections (1) and (3) of section 128, sub section (3) of section 129, section 133, section 134 and section 138 read with section 469 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following rules further to amend the Companies (Accounts) Rules, 2014, namely:- 1.  (1) These rules may be called the Companies (Accounts) Amendment Rules, 2017. (2) They shall come into force on the date of their publication in the Official Gazette. 2. In the Companies (Accounts) Rules, 2014, in Annexure, for form AOC-4, the following Form shall be substituted, namely:- FORM NO. AOC-4 [Pursuant to section 137 of the Companies Act, 2013 and sub-rule

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Companies (Filing of Documents and Forms in Extensible Business Reporting Language), Amendment, Rules, 2017

MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the 6th November, 2017 G.S.R.1372(E).—In exercise of the powers conferred by sub-sections (1) and (2) of Section 469 read with section 398 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following rules further to amend the Companies (Filing of Documents and Forms in Extensible Business Reporting Language) Rules, 2015, namely:‑ 1. Short title and commencement.– (1) These rules may be called the Companies (Filing of Documents and Forms in Extensible Business Reporting Language), Amendment, Rules, 2017. (2) They shall come into force on the date of their publication in the Official Gazette. 2. In the Companies (Filing of Documents and Forms in Extensible Business Reporting Language) Rules, 2015 (hereinafter referred to as the principal rules), for rule 3, the following rule

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ICSI Signs MOU with the National Skill Development Corporation to equip over 1,00,000 CS students on GST 

  PRESS RELEASE ICSI Signs MOU with the National Skill Development Corporation to equip over 1,00,000 CS students and public at large on GST The Institute of Company Secretaries of India together with National Skills Development Corporation will train over One Lakh CS students, ICSI stakeholders and public at large as “GST Account Assistants”. Prime Minister, Narendra Modi, while inaugurating the ICSI’s Golden Jubilee Year Celebrations on 4th October, 2017 at Vigyan Bhawan emphasised on the role of Company Secretaries in promoting and maintaining compliance and transparency in the Corporate sector. He desired that the institute and its stakeholders help in spreading awareness about the benefits of GST and taking it across the length and breadth of the country and provide their services as professionals who can cater to GST

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