A. CHANGES IN THE GST REGIME Extension of due date for Form GST ITC 04 A principal manufacturer is allowed to take credit of tax paid on the purchase of goods that are sent on job work. For this purpose, FORM GST ITC-04 must be submitted by the principal manufacturer every quarter on or before the […]
The Insolvency and Bankruptcy Code, 2016 (“Code”) is one of the most dynamic legislations in the recent times and is being interpreted by the courts to expand the ambit of the Code and also possibly provide maximum benefit to both financial and operational creditors whose dues are long outstanding. One of the recent changes was […]
ZEUS publishes newsletter every month. It has snippets about the latest developments in Real Estate as well as General Corporate Areas. It also encompasses any latest landmark / important Judgement pronounced by the court. ZEUS Newsletter – March 2019
A. CHANGES IN THE GST REGIME Constitution of GST Appellate Tribunal The Central Government, in an exercise of the powers conferred under section 109 of the CGST Act, 2017 and on the recommendation of the GST Council, has constituted the National Bench of the Goods and Services Tax Appellate Tribunal (GSTAT) at New Delhi by an […]
The Hon’ble Supreme Court of India, in its judgment pronounced on January 7, 2019 in the case of Birla Institute of Technology vs. State of Jharkhand [Civil Appeal No. 2530 of 2012] (“BIT Case”), had held that teachers were not employees for the purposes of Payment of Gratuity Act, 1972 (“PG Act”) and therefore not […]
A. CHANGES IN THE GST REGIME Clarification on the treatment of sales promotion schemes under GST The CBIC has vided circular no. 92/11/2019 – GST dated 7th March 2019 issued a clarification on various doubts relating to the treatment of sales promotion schemes. The clarification deals with free samples and gifts, buy one get one free […]
Supreme Court Re-Affirms the Inclusion of Allowances for Determining Provident Fund Contributions The Hon’ble Supreme Court of India vides its judgment passed on February 28, 2019, in the case of The Regional Provident Fund Commissioner (II) West Bengal vs. Vivekananda Vidyamandir and Others (clubbed with certain other civil appeals) has re-affirmed the position concerning the […]
ZEUS publishes newsletter every month. It has snippets about the latest developments in Real Estate as well as General Corporate Areas. It also encompasses any latest landmark / important Judgement pronounced by the court. ZEUS Newsletter – February 2019
A. CHANGES IN THE GST REGIME Clarification for mentioning details of inter-state supplies made to unregistered persons A registered supplier is required to mention the details of inter-state supplies made to unregistered persons, composition taxable persons and UIN holders in Table 3.2 of FORM GSTR-3B. Further, the details of all inter-state supplies made to unregistered persons […]
Large unpaid debts and continuing defaults by borrowers require the banks and financial institutions to initiate proceedings for recovery of dues against the principal borrowers as well as the guarantors under various legislations and forums, including the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 for enforcement of security against […]
PROPOSED CHANGES AND INDUSTRY ISSUES Qatar, India’s biggest supplier, wants natural gas in GST ambit Qatar, the biggest supplier of liquefied natural gas to India, wants the government to consider bringing natural gas in the ambit of Goods and Services Tax. The Indian oil and gas industry has long been demanding the inclusion of gas […]
ZEUS publishes newsletter every month. It has snippets about the latest developments in Real Estate as well as General Corporate Areas. It also encompasses any latest landmark / important Judgement pronounced by the court. ZEUS Newsletter – January 2019