N K GOEL AND BROS.

[2021] 132 taxmann.com 165 (Ahmedabad - CESTAT)[09-11-2021]   GST Update: Refund of education cess and secondary and higher education cess lying unutilized as on 30-6-2017 is admissible and payable in cash CESTAT, AHMEDABAD BENCH Atul Ltd. vs. Commissioner of Central Excise & Service Tax-Vadodara-II ·        Refund - Cenvat credit of Education Cess - Balance of Education Cess (E-Cess) and Secondary and Higher Education Cess (SHE Cess) lying unutilized – ·        Refund claim filed for such cess on implementation of Goods and Services Tax – ·        E-Cess and SHE Cess were leviable till 28-4-2015 and not thereafter – ·        Cenvat credit of such cess paid on inputs or capital goods received in the factory on or after 1-3-2015 can be utilized for payment of excise duty as per Notification No. 12/2015-C.E. (N.T.) – ·        Accumulated credit of cess could not be utilized till 30-6-2017 by appellant – ·        Unutilised cred

GST : Where applicant is engaged in business of printing of Pre examination items, printing of Post examination items and scanning and processing of results of examinations for Mumbai University Examination Committee, Bihar University Examination Committee and JNTU Kakinada, activities undertaken by applicant be treated as exempted supply of services in terms of Sl No. 66 of Notification No. 12/2017 - Central Tax (Rate), dated 28-6-2017 [2021] 131 taxmann.com 291 (AAR - ANDHRA PRADESH) AUTHORITY FOR ADVANCE RULINGS, ANDHRA PRADESH Hitech Print Systems Ltd., In re D. RAMESH  AND  A. SYAM SUNDAR , MEMBER AAR NO. 24/AP/GST/2020 DECEMBER  15, 2020  -- CA Yashu Goel 9899263490 M/s N.K. Goel & Bros. Chartered Accountants www.TaxingNarad.COM

Rule-59(6) implemented on GST Portal to check filing of GSTR-3B of last 2 months before filing GSTR-1 GST Update Dated August 26th, 2021   *This rule provides that one shall not be allowed to file his GSTR-1 in cases where GSTR-3B for the previous two monthly tax-periods is not filed by monthly filers or GSTR-3B for the previous quarterly tax period is not filed by quarterly filers. * As per update issued by GSTN this rule will be implemented on GST Portal with effect from 1st September, 2021. The system is designed to check whether taxpayers have filed their GSTR-3B as per Rule 59(6) before allowing taxpayers to file GSTR-1. This check will operate on clicking the SUBMIT button of GSTR-1 and the system will give an error message if the condition of Rule-59(6) is not met. -- CA Yashu Goel 9899263490 M/s N.K. Goel & Bros. Chartered Accountants www.TaxingNarad.COM

GST Update:  Advisory On Reconciliation Statement (GSTR-9C): GSTR-9C Reconciliation statement to be filed in Form GSTR-9C requires the tax rate-wise declaration of transactions for the concerned financial year. In the said form, tax amount pertaining to tax rates 1%, 1.5%, and 7.5% in section III (table 9 and 11) and section V may be made in the row/ under label 'Others' of the said tables, wherever applicable. GST Update: CBIC provides facilitation for exporters having IGST refund issues. Source: The New Indian Express CBIC takes steps to facilitate exporters' refund sanction The CBIC has extended the facility for resolving invoice mismatch errors through customs officer interface on permanent basis. By  PTI NEW DELHI: The CBIC has extended the time limit for sanction of pending IGST refunds to exporters where records have not been transmitted to customs department due to mismatch in IGST returns. The finance ministry on Monday said that this would help overcome the proble

MCA has, vide Companies (Specification of definition details) Second Amendment Rules, 2021 dated 19.02.2021, prescribed the class of companies which shall not be considered as listed company in the context of Companies Act, 2013 (CA, 2013). These are:  Debt (NCD) listed public / private companies;  preference shares (NCRPS) listed public companies; and  public companies listed outside India This amendment shall come into effect from 01.04.2021. -- CA Yashu Goel 9899263490 M/s N.K. Goel & Bros. Chartered Accountants www.TaxingNarad.COM

Limited liability partnerships (LLPs) in India will get two to three months to disclose ownership and improve governance after a set of proposed changes to the LLP Act are notified. The corporate affairs ministry has already got Parliament's approval for the amendments to the LLP law, adding the ministry wants to give time till May-June for their implementation, given the extent of changes. -- CA Yashu Goel 9899263490 M/s N.K. Goel & Bros. Chartered Accountants www.TaxingNarad.COM

Update on search operations under GST. CBIC has issued guidelines regarding the procedures to be followed during search operation. These guidelines must be adhered to while carrying search proceedings and must be followed in addition to earlier instructions (Instruction No. 01/2020-21 Dated 2nd February, 2021). https://www.cbic.gov.in/resources//htdocs-cbec/gst/Instructions%20%2001-2020-21.pdf GST: Madhya Pradesh High Court  allows Advocate to be with Petitioners during interrogation . Case Name :  A. Y. Trading Company Vs Director General of GST Intelligence (Madhya Pradesh High Court) -- CA Yashu Goel 9899263490 M/s N.K. Goel & Bros. Chartered Accountants www.TaxingNarad.COM

MCA has notified the Amendments as announced in the Budget 2021, for OPCs.(One Person Company) As per the Amendments introduced:  1. Thresholds of Paid-up capital exceeding Rs 50 lakhs or turnover exceeding Rs 2 crores for Compulsory conversion into non-OPC Public/Private Company is removed. 2. Form INC-6 can now be used for both - conversion from Private/Public to OPC or OPC to Private/Public. 3. For conversion of a non-OPC to OPC, thresholds of Paid up capital Rs 50 lakhs or less and turnover of Rs 2 crores or less is removed. Irrespective of Capital/turnover, non-OPC can get itself converted into OPC. -- CA Yashu Goel 9899263490 M/s N.K. Goel & Bros. Chartered Accountants www.TaxingNarad.COM

Central Board of Indirect Tax and Customs (CBIC) clarified that the Goods and Service Tax (GST) Audit will be applicable for Financial Year 2019-20.  "Please note Section 35 and 44 of CGST Act are proposed to be amended in Finance Bill 2021. However, these proposals will come into effect from a date to be notified later. For FY 2019-20, the existing provisions shall continue," the CBIC clarified. -- CA Yashu Goel 9899263490 M/s N.K. Goel & Bros. Chartered Accountants www.TaxingNarad.COM

GST  13.2.21 is last day for optional upload of B2B invoices,  Dr/Cr notes for January under QRMP Scheme in in IFF facility,  Buyer shall get the ITC of such invoices as same will be reflected in 2A/2B. -- CA Yashu Goel 9899263490 M/s N.K. Goel & Bros. Chartered Accountants www.TaxingNarad.COM