Recommendations regarding E-way Bill made during the meeting of the GST Council

In the 26th meeting held on March 10, 2018, the GST Council has recommended the introduction of e-way bill for inter-State movement of goods across the country from 01st April 2018. For intra-State movement of goods, e-way bill system will be introduced w.e.f. a date to be announced in a phased manner but not later than 01st June, 2018. Continue reading

Posted in GST |

Highlights of the 26th GST Council Meeting

The GST council in its 26th meeting chaired by Mr. Arun Jaitley on March 10, 2018 deliberated upon following issues:- Continue reading

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SC : No service tax on ‘reimbursable expenditure’ prior to May 2015; Rule 5 beyond statute

In the case of M/s INTERCONTINENTAL CONSULTANTS AND TECHNOCRATS PVT. LTD.SC rules on applicability of service tax on reimbursable expenditure incurred by service provider, in terms of Section 67 of Finance Act r/w Rule 5 of Service Tax (Determination of Value) Rules 2006; Dismisses Revenue appeal against Delhi HC judgment, holds that HC was right in interpreting Sections 66 and 67 to say that value of taxable service shall be gross amount charged by service provider ‘for such service’ and that value cannot be anything more or less than consideration paid as quid pro quo for rendering such service; Continue reading

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Implementation Guide to Standard on Auditing (SA)701, Communicating Key Audit Matters in the Independent Auditor’s Report

The purpose of communicating key audit matters is to enhance the communicative value of the auditor’s report by providing greater transparency about the audit that was performed.
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Posted in Audit & Assurance |

Filing GSTR-3B is now made more User friendly

  • Fill either CGST or SGST/UGST amount, other tax will get auto filled.
  • You can now save the Form on confirming details filled in the Table. You can fill balance details later.
  • Preview Form or download it for cross verifying saved details in any table(s) anytime.
  • No more Submit requirement to freeze details and know the liability.
  • Changes in any table can be made before making payment towards liabilities.
Posted in GST |