Alerts & Updates

ELP GST Update

Tax | Jun 29, 2018
News Update

Postponement of GST provisions relating to Reverse Charge, TDS and TCS

The GST Implementation Committee (GIC) has decided to postpone the applicability of provisions relating to reverse charge (for procurements from unregistered person), tax deducted at source (TDS) and tax collected at source (TCS) for another 3 months, ie up to September 30, 2018. Notification in this regard will be issued shortly.

Circular

Department F No 390/ Misc/ 116/ 2017-JC dated June 25, 2018

Central Board of Indirect Taxes and Customs (‘CBIC’) invites views from Principal Chief Commissioners & Chief Commissioners on the proposition to raise monetary limits for filing appeal by revenue before various appellate fora in central excise & service tax matters. This is a measure to reduce Government litigation.

Notably, the monetary limits for filing appeal by revenue before Tribunal, High Court and Supreme Court was recently raised to INR 20 lakhs, INR 50 lakhs and INR 1 crore respectively.

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