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India successfully tests two ballistic missilesKhalistani activists polluting Canada: Canadian MP Chandra AryaUK Foreign Minister David Lammy meets PM ModiRs 1.72 lakh crore allocated for capital acquisition for defenceI-T- Re-assessment - additions quashed as assessee given fresh opportunity to adduce evidence; nevertheless, assessee failed to participate in hearing despite multiple notices - costs of Rs 40000/- imposed on assessee: HCVaishnaw hails Rs 2.62 lakh crore capex for RailwaysCX - Final product is copper cathodes and not sulphuric acid, which is a by-product - Oxygen gas captively consumed in manufacture of sulphuric acid is entitled to exemption in terms of notification 67/95-CE: HCElectric Mobility Promotion Scheme, 2024 notified to promote green mobilityGST - Same input and output supplies though attracting different tax rates at different points of time - Since para 3.2 of Circular 135 has been struck down as ultra vires, refund to be extended: HCBIS sanctions 82 projects to faculty members of various prominent institutionsGST - Demand confirmed since petitioner failed to file a reply - Petitioner can be given one opportunity to explain subject to they depositing 25% of disputed tax from its Electronic Cash register: HCBihar passes bill to curb paper leaks with Rs one crore fine & 10-yr jailGST - Petitioner's assertion that the ITC available in GSTR-2A exceeds that availed of in GSTR-3B was not considered - Matter remanded; bank attachment lifted: HC380-feet asteroid to fly past earth at 29K Kmph tomorrow: NASAGST - Legitimate trade and commerce by every supplier should be allowed to be carried on subject to payment of tax and statutory compliance - Registration to be revived: HCPax plane crashes with 23 onboard at Kathmandu airport; 18 killedGST - Petitioner unaware of SCNs and the orders passed - Subject to petitioner depositing 25% of disputed tax, matter remanded: HCINDIA bloc boycotts Parliament; says Budget is discriminatoryTaxonomy is not about taxesBudget for Vikasit BharatWill the Old Tax Regime be Consigned to A Margadarshak Role?July 21 (Sunday) was hottest day on earth since Ice Age: Scientists

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GST - July 1 - Another 'Disruptive' Decision?


GST article

Sir,

Fully agree.

Where is the notified Tariff for all goods aligned with HSN codes ? How industry will determine the HSN codes of their lacks of products, whether finished goods or inputs, in a such short period of a week ahead.

According to my understanding the rate list approved by GST council with HSN codes will not have legal backing unless Tariff with rules for interpretation are notified. If you remember the CET Act 1985 which came into effect from 1.3.1986 was published much much earlier prior to six months or more. How industry will configure the codes in SAP. According to me the clearances of many units are going to be disrupted. Even many rules have not been notified yet. Forget about small businessmen, even large corporates will face difficulty in compliance. Hope the Head is aware of these ground realities.

Jaimini Khurjekar

jaimini_khurjekar jaimini_khurjekar 22/06/2017

 

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