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CBIC revises tariff value of edible oils, gold & silverFormer IPS officer Sanjiv Bhatt jailed for 20 yrs for planting drugs to frame lawyerCentre receives Rs 18.5 lakh crore tax revenue upto Feb monthUN says Households waste across world is now at least one billion meals a dayExpert Committee on developing GIFT IFSC as 'Global Finance and Accounting Hub' submits report to IFSCAIndia, China hold fresh dialogue for complete disengagement on Western borders: MEADefence Production issues notification for re-organisation of DGQAThakur says India is prepared for 2036 OlympicsCBDT substitutes Form in ITR-5EV Revolution: Lessons for India to learn from US and China!London court green-signals auction of luxury apartment of fugitive Nirav ModiGovt consults RBI; finalises borrowing plan for first half of FY 2024-25Gadkari says Farmers’ protest is politically-motivatedVP calls upon women entrepreneurs to be 'Vocal for Local'America offers USD 10 mn bounty for information on ‘Blackcat’ hackers after UnitedHealth gets hitI-T- The order of the ITSC can only be reopened in cases of fraud or misrepresentation: HC8 persons including Hezbollah militants killed in Israeli strike on LebanonMacron pillories EU-South Africa trade deal; calls it ‘really bad’ in BrazilThailand’s Lower House okays Bill to legitimise same-sex marriageYellen warns China against clean energy dumpingMilky Way’s central black hole - Twisted magnetic field observedCus - Assessee has not proved beyond reasonable doubt that goods in question imported under air way bills/bills of entry were in fact filed by him and hence the only natural corollary available to Revenue is confiscation of same: CESTATSmall investors help Trump Media’s valuation skyrocket to USD 13 billionJustice Ritu Raj Awasthi joins as Judicial member of Lokpal

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GST Let Down by GSTN


Error in Trans-1 and its omission

Dear Sir,
Trans-1 is for availing credit for Transition Period, i.e., credit related to period prior to 30/06/2017. Following situations are not covered under this one:
Under Service Tax, reverse charge was applicable on various services i.e., Goods Transport Agency, Legal Services, and Ocean freight on which receiver of services pay service tax on reverse charge basis. There are other error and omissions under which service tax liability is discharged after 30/06/2017. In all such situations credit were taken based on TR6 which is a valid document for availing credit. The liability for June 2017 is discharge in July 2017, which cannot be entered in the Trans-1 form as date after 30/06/2017 is not eligible to submit in system.
There is Rule that Commissioner can allow credit for those not accounted for in the month of July, for example an assesses found that there is mistake in calculations and deposited Service tax and discharged liability as per act in the month of Aug. 2017 and accounted for in books of accounts for which he is eligible for credit, but this situation is also not covered under Trans-1,

SATYA PRAKASH SINGH 08/09/2017

 

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