Incometaxlibrary.com Website Review

major decisions taken by the gst council in its 32nd meeting held today under the chairmanship of the union minister of finance & central goods and services tax (amendment) act, 2018- clarification regarding section 140(1) of the cgst act, 2017-reg. gst on services of business facilitator (bf) or a business correspondent (bc) to banking company. applicability of gst on as*an development bank (adb) and international finance corporation (ifc) clarification on gst rate applicable on supply of food and beverage services by educational institution.. income-tax deduction from salaries during the financial year 2018-19 under section 192 of the income-tax act, 1961. applicability of gst on various programmes conducted by the indian institutes of managements (iims) – reg. clarification on certain issues (sale by government departments to unregistered person; leviability of penalty under section 73(11) of section 56 of the income-tax act, 1961 - income from other sources - chargeable as - notified provisions of clause (viia) of sub-section (2) of section 56 of said act shall not apply to in case of receipt of shares by a closely held company or firm as a result of fresh issuance procedure, format and standards for filing an application for grant of certificate for deduction of income-tax at any lower rate or no seeks to extend the time limit for furnishing the return in form gstr-3b for the newly migrated taxpayers. seeks to extend the time limit for furnishing the details of outward supplies in form gstr-1 for the newly migrated taxpayers. seeks to extend the due date for furnishing form itc-04 for the period from july, 2017 to december, 2018 till 31.03.2019. seeks to specify the late fee payable for delayed filing of form gstr-3b and fully waive the amount of late fees leviable on account of delayed furnishing of form gstr-3b for the period july, 2017 to september, 2018 in specified cases. seeks to fully waive the amount of late fees leviable on account of delayed furnishing of form gstr-4 for the period july, 2017 to