E payment of service tax made mandatory

With effect from 1st October, 2014; every assessee is required to pay service tax electronically through internet banking therefore service tax liability for the month of September, 2014 or quarter ending September, 2014 is required to be paid electronically irrespective of the constitution of assessee and quantum of turnover/service tax.

Here we would also like to mention that relaxation from e-payment may be allowed by the Deputy Commissioner/Asst. Commissioner on case to case basis.

(Notification No. 09/2014-ST)

--
M/s N.K. Goel & Bros.
cayashugoel.blogspot.com

Chartered Accountants
CA Yashu Goel
9899263490

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CBDT Instruction No 5/2014 dated 10.07.2014

Dear Members, The Hon'ble CBDT has issued Instruction No 5/2014 dated 10.07.2014 , by which the monetary limits for filing appeals to ITAT / HIGH COURT / SUPREME COURT have been revised. The New limits are: Tax effect Appeal before ITAT Rs. 4,00,000/- High Court Rs. 10,00,000/- Supreme Court Rs. 25,00,000/- Copy of Instruction is attached for your information.

No GST on Ocean freight. Hon'ble SC.

Supreme Court has pronounced its judgment in the matter of Mohit Minerals (Ocean Freight matter). While upholding the judgment of Gujarat High Court, the Supreme Court has held that recommendations of GST Council are only recommendatory and not binding on Union and State. To summarise the Hon'ble Apex Court has ruled that GST is not leviable on ocean freight. CA Yashu Goel

GST - Electronic invoicing (E Invoicing) made mandatory

E-invoice has been made mandatory for taxpayers having turnover exceeding 10 crores from 1st October, 2022: Notification 17/2022 Central Tax dtd 01/08/2022 It implies that any registered person whose aggregate turnover in any preceding financial year from FY 2017-18 onwards has exceeded Rs 10 Crore shall issue E-invoice w.e.f 1st October 2022 . -- CA Yashu Goel 9899263490 M/s N.K. Goel & Bros. Chartered Accountants www.TaxingNarad.COM

N K GOEL AND BROS.

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