Updates:
1. *GST:* Rate of GST - Outdoor services being provided in the factory is not in the nature of restaurant service - liable to be taxed @ 18% - *Authority for Advance Ruling, Gujarat in Rashmi Hospitality Services Pvt. Ltd. (2018 (5) TMI 1181).*
2. *GST:* Chandigarh E-way bill comes into effect w.e.f. *25 MAY 2018* - Central Government rescinds the notification number G.S.R. 316(E), dt.31.03.2018 – *N.N.7/2018-UTTax, dt.18.05.2018.*
3. *ICAI* invites suggestions on Draft Revised Syllabus for the Post Qualification Course on Information Systems Audit formulated by Digital Accounting and Assurance Board of ICAI latest by 31 MAY 2018.
4. *IT:* The person who have registered or recorded transactions as specified in Rule-114E (2) r/w Section-285BA (1) are required to file Form-61A for SFT Transactions and not others.
5. *IT:* TDS liability u/s 192 - no perquisite would arise in the hands of the employees for the assessment years in question. The legislation amended the said rule only for subsequent period to include even concessional education facility - *Gujarat Co-Op. Milk Marketing Federation Ltd. Vs. ITO (2018 (5) TMI 1177 - Gujarat High Court).*
6. *IT:* Valuation of goodwill - the substitution adopted by the AO suffered from greater vice. There was no basis for him to believe that the trademark and goodwill must value at the same level – *CIT Vs. Bisleri International Pvt. Ltd. (2018 (5) TMI 1175 - Gujarat High Court).*
1. *GST:* Rate of GST - Outdoor services being provided in the factory is not in the nature of restaurant service - liable to be taxed @ 18% - *Authority for Advance Ruling, Gujarat in Rashmi Hospitality Services Pvt. Ltd. (2018 (5) TMI 1181).*
2. *GST:* Chandigarh E-way bill comes into effect w.e.f. *25 MAY 2018* - Central Government rescinds the notification number G.S.R. 316(E), dt.31.03.2018 – *N.N.7/2018-UTTax, dt.18.05.2018.*
3. *ICAI* invites suggestions on Draft Revised Syllabus for the Post Qualification Course on Information Systems Audit formulated by Digital Accounting and Assurance Board of ICAI latest by 31 MAY 2018.
4. *IT:* The person who have registered or recorded transactions as specified in Rule-114E (2) r/w Section-285BA (1) are required to file Form-61A for SFT Transactions and not others.
5. *IT:* TDS liability u/s 192 - no perquisite would arise in the hands of the employees for the assessment years in question. The legislation amended the said rule only for subsequent period to include even concessional education facility - *Gujarat Co-Op. Milk Marketing Federation Ltd. Vs. ITO (2018 (5) TMI 1177 - Gujarat High Court).*
6. *IT:* Valuation of goodwill - the substitution adopted by the AO suffered from greater vice. There was no basis for him to believe that the trademark and goodwill must value at the same level – *CIT Vs. Bisleri International Pvt. Ltd. (2018 (5) TMI 1175 - Gujarat High Court).*
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