Wednesday, 4 October 2017

Govt. extends date for registration cancellation, furnishing transitional information to October 31

Govt. notifies CGST (Eighth Amendment) Rules 2017, thereby amending Rules 24, 118, 119, 120 and 120A of CGST Rules and Form GST REG-29; Accordingly, allows cancellation of GST registration for migrated taxpayers not liable to be registered, by October 31 under Rule 24(4); Transitional information in Form GST TRAN-1 with respect to supplies on which VAT / service tax was paid before appointed day, stock held by principal and agent, and goods sent on approval basis shall be furnished within the period specified in Rule 117 or such period as extended by Commissioner; As per Order No. 3/2017-GST, period for submitting Form GST TRAN-1 has been extended till October 31 : CBEC Notification 

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Bombay High Court Clarifies Tax Exemption Eligibility for Venture Capital Funds

  In a significant ruling, the Bombay High Court has reaffirmed that a Venture Capital Fund (VCF) registered with SEBI is entitled to claim ...