News Update

GST - Withdrawal of discount by supplier does not amount to profiteering - Flipkart cannot be held accountable for contravention of Section 171 of CGST Act: NAPAI-T - Consolidation of appeals being heard expeditiously by different benches of ITAT and also without giving a notice to assessee is a vitiated decision: HCWhether "One Tax"concept is being diluted (See 'TOG INSIGHT' 'on '')28th GST Council meeting decisions - an overviewCX - CENVAT -Phrase 'for personal consumption' appearing in clause (C) of Rule 2(l) of CCR, 2004 is not linked to clause (A) and (B)- Rent-a-cab service is a part of limb (B) and stands excluded from definition of Input service: CESTATAchieving targeted Cargo Release Time cannot be business as usualI-T - Non-prosecution of disallowances by taxpayer in appeal, should not be used against him as ground for invoking penal proceedings: ITATGST - Major relief granted to Services in IT, Education, Agri, Banking & Food Processing sectorsGST - Many transactions in Schedule III to constitute ' No Supply'Naidu appoints Prof Raj Kumar of BHU as Vice-Chancellor of Panjab UnivNew GST Return to work on 'upload, lock & pay' basis; NIL returns through SMSGST Registration - Part B of REG-26 not filled - Do it before Aug 31GST Council approves proposed amendments in laws; No interest to be paid if ITC is reversed on failure to make payment within 180 days + exemption to IT services in case of Related Parties + to define expression 'renting of immovable property' + extends exemption upto Sept 2019 on outward transportation by air or sea + RCM to apply on DSA services to banks or NBFCsGST Council reduces tax rates on as many as 87 items + 5% IGST on Pool price of imported urea by Govt + exemption from CESS to coal rejects + water supplied for public purposes + 5% tax rate on marine enginesGST Council takes slew of decisions to reduce tax rates & simplify compliance normsGSTN to link all tolls & nakkas through RAFD for smooth movement of goods + SOP to be issued to overcome e-Way Bill related penalty + Migration window without interest to remain open till Aug-endGST Council to meet again on Aug 4, 2018 + to focus on issues relating to only MSME Sector + also to discuss possible sops for digital paymentsGST Council hikes exemption limit from Rs 10 lakhs to Rs 20 lakhs in States like HP, Uttaranchal, Assam, Arunachal & two more + also allows multiple registration within a State if taxpayer wishes so + simplifies cancellation of registrationGST - Council decides to make it quarterly return but monthly payment upto Rs 5 Crore turnover - Relief for 93% taxpayers + approves 10% of turnover or upto Rs 5 lakh worth of services by Composition dealers + suspends RCM upto September 2019GST Council decides 28% tax to apply only on actual hotel tariff of Rs 7500 rather than declared tariffGST Council grants relief to textile sector - ITC refund to be granted but after July 27, 2018GST Council exempts many items such as statutes of god, rakhi, brooms & many others + tax rate on handloom items lowered from 12% to 5% + rate on ethanol down to 5% + many items moved from 28% to 18% slabGST Council approves New two-page GSTR + facility of revision of GSTR + quarterly return for composition dealers but monthly tax payment + exemption to sanitary napkins + 5% tax rate on shoes up to Rs 1000 + many items like TV upto 25 inch + Fridge & other electronic items from 28% to 18% slab + powers to share IGST and CESS collected before 5 years

Constituent Assembly Of India -Volume I

Dated: December 12, 1946

The Constituent Assembly of India met in the Constitution Hall, New Delhi, at Eleven of the Clock, Mr. Chairman (The Hon'ble Dr. Rajendra Prasad) in the Chair.

Mr. Chairman: If there are any Members who have not yet signed the Register, they may do so now.

(Nobody came forward.) It seems there is nobody who has not yet signed. We now proceed to the next item. The first item that we have is a Resolution by Pandit Jawahar Lal Nehru. I understand that there are some Members who feel that they have not had sufficient time to consider this important' Resolution. There is no doubt that the Resolution is a very important one and I would not like any Member to feel that he has not had sufficient time to consider it fully. If the House so desires, I am prepared to adjourn this discussion till tomorrow.

Hon'ble Members: Yes.

Mr. Chairman: Then there is another matter in this connection in regard to which I should like the advice of the House. We have got a Rules Committee and its members should meet to prepare the Rules which they will place before us. They should have time separate from the general session of the Assembly. If you agree, they will meet after this House is adjourned and we shall do as much as we can do. But if it cannot complete the work, the Rules Committee will have to meet tomorrow, and I would like to know whether the House would like to sit in the morning from 11 or in the afternoon because I would suggest that we should have one session only, either in the morning or afternoon, so that the Rules Committee may get the other half of the day for its work. If the House want the morning session, then we can meet in the morning.

Some Hon'ble Members: We want morning sessions.

Some Hon'ble Members: Afternoon sessions.

Mr. Chairman: I am afraid in this matter it is difficult for me to come to a decision. I have to trouble the members to raise their hands-those who would like the morning sessions may please raise their hands.

(More members raised their hands in favour of the morning session.)

It seems the morning session is preferred by a large number of people. We shall have the session at 11 tomorrow morning concerting this Resolution and in the afternoon we may have, if necessary a meeting of the Rules Committee. If any Members have got any amendment to the Resolution to move, I would request them to hand over the amendments to the Secretary in the course of the day and we shall take up the discussion tomorrow. The Secretary will take care, if possible, to circulate the amendments also to Members.

An Hon'ble Member: Are we sitting on Saturday?

Mr. Chairman: I think we should be sitting on Saturday. That is my view but that is entirely in the hands of the House. I think we will be sitting on Saturday too.

The Hon'ble Pandit Hirday Nath Kunzru (United Provinces: General): I think we should not, meet on Saturday. Let us have a day off for quiet discussions of the problems between ourselves.

Shri Sri Prakasa (United Provinces: General): I think we should not meet on Sundays and that should be sufficient for quiet discussions for Pandit Hirday Nath Kunzru.

Mr. Chairman: We shall consider that tomorrow., So far as the House is concerned, I think we have to adjourn now till 11 A.M. tomorrow and I would like the Members of the Rules Committee to meet say half-an-hour later. In the meantime we shall fix UP some room where they shall meet.

The House stands adjourned till 11 A.M. tomorrow.

Dr. Sir Hari Singh Gour (C. P. and Berar: General): It seems to me that it will serve a useful purpose if the Hon'ble Mover of the Resolution formally moves and expresses his views to enable the Members here to understand the full import of the Resolution, so that we can frame amendments accordingly and these can be taken up tomorrow or the day after.

Mr. Satyanarayan Sinha (Bihar- General): The House has, already been adjourned.

Mr. Chairman: Sir Hari Singh Gour has suggested that the Resolution might be moved by the Mover today who in his speech could explain his own point of view so that the other Members may be in possession of that and the discussion might take place tomorrow. I had myself at first thought of that but then I felt that the members would like to consider the whole thing tomorrow.

Some Hon'ble Members- Tomorrow.

Mr. Chairman: There be a difference of opinion and I do not like to take a. vote on this question especially as I have already declared the House adjourned. So we shall now 'adjourn. The House stands adjourned till tomorrow, 11 O'Clock.

The Assembly then adjourned till Eleven of the Clock, on Friday, the, 13th December, 1946.

TIOL Tube Latest

GST Rebooted | Episode 8 | simply inTAXicating

What's New

CGST Notification
CGST Rate Notification
CGST Circular
Income Tax Notification
Income Tax Circular
Customs Tariff Notification
Customs NT Notification
Customs Circular
Anti Dumping Notification
DGFT Notification
DGFT Public Notice
DGFT Circular
RBI Circular