Circulars

 

 

 

Circular No. 04/57/2017-18                                                                                Date: 06th December 2017

 

To

All the Managing Committee Members

All Affiliated Associations and Former Presidents of FPTA.

 

NOTICE – 2ND MEETING OF THE MANAGING COMMITTEE 2017-18

 

Notice is hereby given that the Second Meeting of the Managing Committee (2017-18) of the Federation of Paper Traders’ Associations of India will be held at Bangalore under the auspices of Karnataka Paper Merchants’ & Stationers Association, Bangalore.

 

The details of venue, date and timing are as under:

 

Venue                      :               Hotel Shangri La

                                    # 56-6B, Palace Road, Bangalore – 560052

Tel: 080- 4512 6100

 

Date                             :           06th & 07th January 2018

 

Timings                       :           As per tentative programme attached.

 

AGENDA

 

The following items will form the agenda for the meeting.

  1. To confirm the draft minutes of the Fourth meeting of the managing committee (2016-17) and the

First meeting of the present managing committee (2017-18) held on 12th & 14th August 2017.

  1. To consider applications for membership for Life Associate, Patron and Ordinary Member, if any.
  2. Report of Shri. A. Natesan Convener of Advisory Board.
  3. To discuss reports of Vice-Presidents and Conveners of the Sub-committees circulated.
  4. To consider report of review committee Convener on guidelines of various awards
  5. Discussion on Current Market Scenario/Grievance Committee for PAN India or Zonal.
  6. Discussion for 3rd Managing Committee Meeting to be hosted by Rajasthan Paper Merchants’ Association,

Jaipur.

  1. Any other matter with the permission of the chair.

Yours faithfully,

For Federation of the Paper Traders’ Associations of India,

 

 

 

Hiren Karia

Hon Secretary

 

Cc. All Patrons, Life & Ordinary Associate members.

 

 

IMPORTANT

Managing committee members are requested to co-operate with the hosts, while registering, attending the meetings and inform well in time regarding their schedule of arrival and departure programmes.

(Please also send copies of your correspondence to the host (Karnataka Paper Merchants’ & Stationers Association, Bangalore and copy to FPTA office to give you the necessary supporting help)

 

 

 

 

 

 

2

 

Tentative Program

Saturday, 7th January 2017

7.30 a.m. to 09.00 a.m.                       Registration and Breakfast
09.30 a.m. to 11.30 a.m.         Advisory Board Meeting
12.00 p.m. to 01.30 p.m.        Inauguration

FPTA President’s address to host Association and Interaction

01.30 p.m. to 02.30 p.m.        Lunch

03.00 p.m. to 04.30 p.m.        1st Business Session

04.30 p.m. to 05.00 p.m.        Hi-Tea
05.00 p.m. to 07.00 p.m.         2nd Business Session

07.30 p.m. to 10.00 p.m.                  Dinner & Entertainment

 

Sunday, 8th January 2017

07.30 a.m. to 09.00 a.m.                     Breakfast
09.30 a.m. to 11.00 a.m.                     3rd Business Session
11.00 a.m.                   Checkout

 

The Meeting is planned as one day event. Please send your travel details to kpmsablr@gmail.com before 15th December 2017. All Members attending the event must carry their I.D. proof for check-in.

 

Members of FPTA under Life/Patron/Observer categories who wish to participate in the meeting must inform our association (KPMSA) in advance before 15th December 2017. The fee for such participants has being fixed at Rs. 7,500 (Rupees Seven thousand Five Hundred only) each per person, plus taxes as applicable; the amount may be remitted by way of cheque/DD/NEFT in favour The Karnataka Paper Merchants and Stationers Association.

 

Participating Members are requested to send ID Proof Along with Passport Size Photo to KPMSA Bangalore address before 15th December 2017

 

Our bank details are as follows:

A/c. Name          :              “The Karnataka Paper Merchants and Stationers Association”

Bank                      :               State Bank of India

Branch                  :               Cottonpet Branch, Bangalore-380 001

A/c. No.               :               54051177943

IFSC Code            :               SBIN0040260

Looking forward to meeting you all in Bengaluru.

 

Contact Persons

Shri. Deepak Mittal, President                                 Mob: – 9844067424

Shri. Dinesh M. Jain, Secretary                               Mob: – 9845022820

Shri Ranjeet Jain. Chairman Registration Committee   Mob: – 9448476339.

Shri Ashok M. Jain Chairman Transport Committee    Mob: – 8088875152.

 

Contents

 

                                                                      

  • Income Tax

 

  • Goods & Service Tax (GST)
  1. 3. International Law

 

 

  1. Company Law

 

 

 

        

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income Tax

 

India adopts reporting rules to crack aggressive corporate tax planning

India has notified final rules for multinational group companies (MNCs) in India to report specifics of their global parents’ operations as part of a global initiative to end instances of aggressive corporate tax planning. Details filed by the multinational company’s local arm in India, together with the finer details of the parent’s operations in every market which Indian authorities can source from the group’s home country under tax treaties, will help the government know how businesses manage flow of funds across borders to keep tax outgo low.

(Source:http://www.livemint.com/Companies/G8PAbxMFLR0q29cUuKFTmL/India-adopts-reporting-rules-tocrack-aggressive-corporate-t.html)

 

CBDT Chief Lambastes Income Tax Department For Failure To Redress Public Grievances In Timely & Proper Manner

Sushil Chandra, the Chairman, CBDT & Special Secretary to the Government of India, has addressed an irate letter dated 14th November, 2017 to all Pr. Chief Commissioners and Director Generals in which he has expressed grave dissatisfaction at the failure of the department to redress public grievances (CPGRAMs) in a namely & proper manner.

 

The learned Chairman has pointed out that redressal of public grievances is one of the primary focus areas of the Government and it is being monitored at the highest level and that he has written DO letters to all the Pr. Chief Commissioners delineating the steps to be taken for expeditious resolution of the grievances.

 

“However, in spite of all these efforts by the Board, it is a matter of concern that total pending grievances as on 13.11.2017 are as high as 1492,” the learned Chairman has observed.

 

Facts and figures to show the tardiness of the Department in the disposal of grievances have been set out.

 

“This high pendency reflects poorly on the efforts made by the field officers,” it is lamented.

 

It is also observed that the “High receipt of CPGRAMS grievances indicates that the resolution of grievances under e-Nivaran is far from satisfactory”.

 

At the end, a stern warning has been issued to the Pr. Commissioners and Directors Generals to ensure that all officers & agencies are properly briefed so as to reduce the avenues of grievances. It is also emphasized that efforts should be made to strengthen the functioning of the ASK centres ensuring timely e-nivaran of grievances

so that there is little or no need for public to resort to filing grievances on CPGRAMS.

(Source: http://www.itatonline.org/info/cbdt-chief- lambastes-dept- for-failure- to-redress- public-grievancesin-timely-proper- manner/)

 

Income Tax Department to issue notices to suspicious cash depositors

The Income-Tax (I-T) Department will soon issue notices to those who have deposited “suspicious” amounts of money in banks after demonetization and have not responded to the taxman’s preliminary communication, the CBDT has said. Chairman Sushil Chandra said despite closing of the I-T returns filing time period, a number of entities and individuals failed to file their returns, as required under the ‘Operation Clean Money’ initiated by the government to check black money after demonetization..

(Source:http://www.business-standard.com/article/economy-policy/i-t-to-issue-notices-to-suspicious-cashdepositors-117111500059_1.html)

 

Supreme Court ruling lets I-T department open closed cases

Many individuals and small businesses could now find the tax office raking up old wounds and chasing tax demands they believed had been long forgiven. To minimize feuds between the income- tax (I-T) department and small taxpayers, the revenue authorities had in the past decided that for tax demands below certain limits, the department would not wage legal battles to recover dues. These limits were fixed in February 2011 and were raised in December 2015. A recent Supreme Court ruling will now change this for many. The apex court has ruled that “the Central Board of Direct Taxes (CBDT) cannot issue any circular having retrospective operation.”

(https://economic_mes.indiatimes.com/news/poltics-and-nation/supreme-court-ruling-lets-i-t-departmentopen-closed-cases/articleshow/61349694.cms)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

GST (Goods & Service Tax)

 

Highlights of Recommendations made by the GST Council in the 23 rd Meeting at

Guwahati on 10th November 2017

 

(These are the recommendations yet to be notified by the authorities)

Period / Month GSTR-3B along

with payment

GSTR-1 GSTR-2 GSTR-3
Taxpayers with

annual aggregate

turnover up to Rs.

1.5 crore (Quarterly)

Taxpayers with

annual aggregate

turnover more than

Rs. 1.5 crore

(Monthly)

July 2017 25-Aug-2017 31-Dec-2017 31-Dec-2017 The time period for filing GSTR-2 andGSTR-3 for the months of July 2017 to March2018 would be worked out by a Committee of Officers
August 2017 20-Sep-2017 31-Dec-2017
September 2017 20-Oct-2017 31-Dec-2017
October 2017 20-Nov-2017 15-Feb-2017 31-Dec-2017
November 2017 20-Dec-2017 10-Jan-2018
December 2017 20-Jan-2017 10-Feb-2018
January 2018 20-Feb-2017 30-Apr-2017 10-Mar-2018
February 2018 20-Mar-2017 10-Apr-2018
March 2018 20-Apr-2017 10-May-2018

 

Notes:

1) Late fee is waived in all cases where return in FORM GSTR-3B is not filed within due date for the months of July, August and September, 2017. Where such late fee was paid, it will be re-credited to their Electronic Cash Ledger under “Tax” head instead of “Fee” head so as to enable them to use that amount for discharge of their future tax liabilities.

2) For subsequent months, i.e. October 2017 onwards, the amount of late fee payable by a taxpayer whose tax liability for that month is ‘NIL’ will be Rs. 20/- per day (Rs. 10/- per day each under CGST & SGST Acts) instead of Rs. 200/- per day (Rs. 100/- per day each under CGST & SGST Acts).

 

From / Period Particulars Due Date
GSTR-4

July to Sept 17

Quarterly return for registered person opting for composition levy 24-Dec-2017
GSTR-5

July 2017

Return for Non-resident taxable person 11-Dec-2017
GSTR-5A

July 2017

Details of supplies of online information and database access or

retrieval services by a person located outside India made to

non-taxable persons in India

15-Dec-2017
GSTR-6

July 2017

Return for input service distributor 31-Dec-2017
TRAN-1 Transitional Input Tax Credit / Stock Statement 31-Dec-2017
(for original as well as revised Form TRAN-1)

 

  • Manual Filing: Facility for manual filing of Advance Ruling application to be introduced

 

  • Further benefits for service providers:

Exports of services to Nepal and Bhutan have already been exempted from GST. It has now been decided that such exporters will also be eligible for claiming Input Tax Credit in respect of goods or services used for effecting such exempt supply of services to Nepal and Bhutan.

 

In an earlier meeting of the GST Council, it was decided to exempt those service providers whose annual aggregate turnover is less than Rs. 20 lakhs (Rs. 10 lakhs in special category states except J &K) from obtaining registration even if they are making inter-State taxable supplies of services. As a further measure towards taxpayer facilitation, it has been decided to exempt such suppliers providing services through an e-commerce platform from obtaining compulsory registration provided their aggregate turnover does not exceed twenty lakh rupees. As a result, all service providers, whether supplying intra-State, inter-State or through e- commerce operator, will be exempt from obtaining GST registration, provided their aggregate turnover does not exceed Rs. 20 lakhs (Rs. 10 lakhs in special category States except J &K).

 

  • Other:

Major relief in GST rates on certain goods and services Changes to Composition Scheme Benefits for Diplomatic Missions/UN organizations

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

International Tax

 

CBDT issues clarification related to guidelines for establishing ‘Place of Effective Management’ in India

 

The Finance Act, 2015 introduced the concept of ‘Place of Effective Management’ (POEM) under the provisions of Section 6(3) of the Income-tax Act, 1961 (the Act). On 24 January 2017, Central Board of Direct Taxes (CBDT) issued the guiding principles (POEM guidelines) for determination of POEM of a company. Various stakeholders

have raised concerns that as per the guidelines, POEM may be triggered in the cases of certain multinational companies with regional headquarter structure merely on the ground that certain employees having multi-country responsibility or oversight over the operations in other countries of the region are working from India and consequently, their income from operations outside India may be taxed in India.

 

Recently, the Central Board of Direct Taxes (CBDT) has issued a circular clarifying that as long as the regional headquarter operates for subsidiaries/group companies in a region within the general and objective principles of global policy of the group laid down by the parent entity in the field of payroll functions, accounting, human resource functions, IT infrastructure and network platforms, supply chain functions, routine banking operational procedures, and not being specific to any entity or group of entities per se; it would not constitute a case of Board of Directors of companies standing aside and such activities of regional headquarter in India alone will not be a basis for establishment of POEM for such subsidiaries/group companies. The CBDT has also clarified that the provisions of General Anti-Avoidance Rule may get triggered in such cases where the above clarification is found to be used for abusive/aggressive tax planning.

(CBDT Circular No. 25 of 2017 dated 23 October 2017)

 

Due date for furnishing Country by Country Report for first fiscal year in India extended to 31 March 2018

 

In keeping with India’s commitment to implement the Organization for Economic Co-operation and Development’s recommendations in Action Plan 13 of the Base Erosion and Profit Shifting project, the Finance Act, 2016 introduced Section 286 of the Income-tax Act, 1961 (the Act) providing for furnishing of Country-by-Country Report (CbCR) in respect of an International Group.

 

Sub-section (2) of section 286 of the Act provides for furnishing the CbCR by the ‘due date’ specified under section 139(1) of the Act for furnishing the return of income for the relevant accounting year i.e. 30 November.

 

Financial Year (FY) 2016-17 will be the first reporting year for furnishing of CbCR. Keeping in mind the hardships taxpayers might face in the first year of CbCR filing, Central Board of Direct Taxes vide its circular dated 25 October 2017, has extended the due date for furnishing CbCR for FY 2016-17 to 31 March 2018.

(CBDT Circular No. 26 of 2017 dated 25 October 2017)                                                        

 

Payment for granting distribution right of ‘Adwords program’ is taxable as ‘royalty’ under the Income-tax Act as well as India- Ireland tax treaty

Based on the facts and in the circumstances of the case, recently, the Bangalore Bench of the Income-tax Appellate Tribunal (the Tribunal) in the case of Google India Private Limited (the taxpayer/ Google India) dealt with the issue whether payment by the taxpayer to Google Ireland Ltd. under ‘Adwords Program’ Distribution agreement is royalty. The Bangalore Tribunal held that the said payment is taxable as royalty under the provisions of the Income-tax Act, 1961 as well as under the India-Ireland tax treaty. The Tribunal observed that it is not merely an agreement to provide the advertisement space but is an agreement for facilitating the display and publishing of an advertisement to the targeted customer with the help of various patented tools and software.

 

The taxpayer is having the access to various data and it uses the information for the purposes of selecting the ad campaign and for maximising the impression and conversion of the customers to the ads of the advertisers.

(Google India Private Ltd. v. ACIT (IT(TP)A.1511 to 1518/Bang/2013) – Taxsutra.com)

 

Indian subsidiary of a foreign company providing back office support services does not constitute a PE in India under India- USA tax treaty – Supreme Court

Based on the facts and in the circumstances of the case, recently, the Supreme Court in the case of E-Funds IT Solution Inc. (the taxpayer) dealt with an issue whether the subsidiary of a US company for back office support services constitutes a Permanent Establishment (PE) in India under the India-USA tax treaty (the tax treaty). The Supreme Court relied on its own decision in case of Formula One World Championship Ltd. and observed that there must exist a fixed place of business in India, which is at the disposal of the foreign companies, through which the business has been carried on. The appellate authorities did not give any findings with respect to availability of fixed place of business at the disposal of the taxpayer. No part of the main business and revenue earning activity of the taxpayer is carried on through a fixed business place in India which has been put at its disposal. Indian company only renders support services which enable the taxpayer in turn to render services to its clients abroad. This outsourcing of work to India would not give rise to a fixed place PE in India.

 

With respect to service PE, the Supreme Court observed that the requirement of Article 5(2)(l) of the tax treaty is that an enterprise must furnish services ‘within India’ through employees or other personnel. None of the customers of the taxpayer are located in India or have received any services in India. All its customers receive services only in locations outside India. Only auxiliary operations that facilitate such services are carried out in India. The first condition provided under Article 5(2)(l) is not satisfied. Therefore, the taxpayer does not have Service PE in India.

(ADIT v. E-Funds IT Solution Inc. (Civil Appeal No. 6082 of 2015) (SC) – Taxsutra.com)

 

 

 

 

 

 

 

 

 

 

 

Company Law

Companies (Registered Valuers and Valuation) Rules, 2017

In exercise of the powers conferred by section 247 read with sections 458, 459 and 469 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the Companies (Registered Valuers and Valuation) Rules, 2017.

 

These rules may be called the “Companies (Registered Valuers and Valuation) Rules, 2017.”

 

They shall come into force on the date of their publication in the Official Gazette.

 

For complete text of above rules, refer

http://www.mca.gov.in/Ministry/pdf/RegisteredValues_19102017.pdf

 

Extension of Due date of filling AOC-4 and XBRL:

All Companies required to prepare or voluntarily preparing their financial statements in accordance with Companies (Indian Accounting Standards) Rules, 2015 for financial year 2016-2017 are required to file their statements only in XBRL format. It has been decided to extend the last date for filling of AOC-4 XBRL for such companies for the financial year 2016-2017 without additional fees till 31st March, 2018. The filling should be made by these companies accordingly when the Ind AS based XBRL taxonomy is deployed, for which a separate intimation would be given to all stakeholders.

 

For text of the notification, refer:

http://www.mca.gov.in/Ministry/pdf/GeneralCircular13_26102017.pdf

 

Also the due date for filling e-forms AOC-4 and AOC-4 (XBRL non Ind AS) and the corresponding AOC-4 CFS eforms has been extended to 28.11.2017.

http://www.mca.gov.in/Ministry/pdf/GeneralCircular14_28102017.pdf

 

Commencement of Section 247:

In exercise of the powers conferred by sub-section (3) of section 1 of the Companies Act, 2013 (18 of 2013), the Central Government hereby appoints the 18th October, 2017 as the date on which the provisions of section 247 of the said Act shall come into force.

http://www.mca.gov.in/Ministry/pdf/CommencementNotification_20102017.pdf

 

 

 

 

Dear Members,
 
With reference to the 56th AGM held at Chennai, it was decided to rest few awards from 2017-18 and to invite applications from the interested sponsors.
 
We hereby invite sponsorship for the award to be instituted for the Managing Committee Members who renders useful services for the activities of FPTA   ​(Earlier it was in the memory of Late Shri. Jayantilal S. Shah, Mumbai).
 
The application will be decided on merit basis and minimum award will be Rs. 5,00,000 non-refundable.
 
Members interested can send their application to the Secretariat office by post or email enable us to put before the Managing Committee to be held at Bengaluru on 06th & 07th January 2018 for needful.
 
Regards
For FPTA
 
Hiren Karia
Hon. Secretary​
Respected Members,
 
With reference to the 2nd Managing Committee Meeting​ on 06th & 07th January 2018 to be hosted by the Karnataka Paper Merchants and Stationers Association, Bangalore.
 
The venue and other details will be send you in due course.
 
This for your information.
 
Regards
For FPTA
Hiren Karia
Hon. Secretary 

Dear Members,

 

With reference to our email dated 10th November 2017 on initiation of Anti – Dumping Duty investigation concerning imports of “Un Coated Copier Paper” Originating in or exported from Indonesia, Thailand and Singapore, Notification No. 6/32/2017-DGAD dated 02/11/2017 issued by Directorate General of Anti-Dumping & Allied Duties, Department of Commerce, Ministry of Commerce & Industry.

​We request All Affiliated Associations to forward the email to their member and get their comments, feedback and views on this matter.​

 

We request our members to send us feedback in this regard, latest by 15th November 2017, to send us to concern ministry if any.

 

Please do the needful and oblige.

 

Regards

For FPTA

Hiren Karia

Hon. Secretary​

Page 1 of 6
(To be published in Part-I, Section I of the Gazette of India Extraordinary)
Government of India
Department of Commerce
Ministry of Commerce & Industry
(Directorate General of Anti Dumping & Allied Duties)
4th Floor, Jeevan Tara Building, Parliament Street
Dated 02nd November 2017
INITIATION NOTIFICATION
Subject: Initiation of Anti-Dumping Duty investigation concerning imports of “Uncoated
Copier Paper” originating in or exported from Indonesia, Thailand and Singapore
F.No.6/32/2017 – DGAD: M/s JK Paper Limited, JK Paper Limited, The West Coast Paper
Mills Ltd., Tamil Nadu Newsprint and Papers Limited Ltd and Ballarpur Industries Limited
(hereinafter referred to as ‘petitioners’ or ‘applicants’) have filed an application (also referred
to as petition) along with relevant information before the Designated Authority (hereinafter
referred to as the Authority) in accordance with the Customs Tariff Act, 1975 as amended from
time to time (hereinafter referred to as the ‘Act’) and Customs Tariff (Identification,
Assessment and Collection of Anti-Dumping Duty on Dumped articles and for Determination
of injury) Rules, 1995 as amended from time to time (hereinafter referred to as the AD Rules)
for initiation of anti-dumping investigation concerning imports of ‘Uncoated Paper’
(hereinafter referred to as the subject goods) originating in or exported from Indonesia,
Thailand and Singapore (hereinafter also referred to as the subject countries).
2. AND WHEREAS, the Authority finds that sufficient prima facie evidence of dumping of the
subject goods originating in or exported from the subject countries, ‘injury’ to the domestic
industry and causal link between the dumping and ‘injury’ exists to justify initiation of an antidumping
investigation. The Authority hereby initiates an investigation into the alleged
dumping, and consequent injury to the domestic industry in terms of the Rules 5 of the AD
Rules, to determine the existence, degree and effect of any alleged dumping and to recommend
the amount of antidumping duty, which if levied, would be adequate to remove the ‘injury’ to
the domestic industry.
A. Product under consideration
3. The product under consideration for the purpose of present investigation is “uncoated paper in
rectangular sheet of following sizes, with permissible limits (a) 210mm x 297 mm also known
Page 2 of 6
as A4 size; (b) 297mmx 420mm also known as A3 size; (c) 215mm x 345mm also known as
FS or legal size.” The product under consideration practically implies “uncoated copier paper”.
The product under consideration is generally (but not exclusively) used as a photocopy or copy
paper and therefore is popularly known as “copy paper”, “copier paper”, “photocopy paper”,
“multipurpose paper”, “uncoated copier paper”, “A4 Size Paper”, “A3 Size Paper” or “FS Size
Paper”. It is in the form of finished sheets; weighing in different gsm. It can be a white paper
or a punched paper and in different smoothness of the surface. Specifically excluded from the
scope of the product under consideration are uncoated paper of a kind used for writing, printing
or other graphic purposes in reels or in large sized sheet (i.e., other than sizes specified above)
forms.
4. Product under consideration is classified under customs heading 4802. The customs
classification is indicative only and in no way it is binding upon the product` scope.
B. Like Article
5. The applicants have claimed that there is no known difference in product produced by the
applicants and exported from the subject countries. Both products have comparable
characteristics in terms of parameters such as physical & chemical characteristics, functions &
uses, product specifications, pricing, distribution & marketing and tariff classification, etc. The
two are technically and commercially substitutable and hence should be treated as ‘like article’
under the Rules. Therefore, for the purpose of the present investigation, the Authority treats
the subject goods produced by the domestic industry in India as ‘Like Article’ to the subject
goods being imported from the subject countries.
C. Domestic Industry & Standing
6. The application has been filed by JK Paper Limited, The West Coast Paper Mills Ltd., Tamil
Nadu Newsprint and Papers Limited Ltd and Ballarpur Industries Limited. There are five other
known producers of the product under consideration in the country, namely, Seshasayee Paper
and Boards Limited, Trident Group, International Paper APPM Ltd., Orient Paper & Industries
Ltd., and Century Pulp and Paper.
7. The production by the applicants constitutes ‘a major proportion’ of Indian production of the
like product produced in India. Further, the applicants have claimed that they have neither
imported the subject goods, nor are they related to any importer or exporter of the subject
goods. The applicants, therefore constitutes “domestic industry” within the meaning of Rule 2
(b) and thus satisfies the criteria of standing in terms of Rule 5 (3) of the Rules supra.
D. Subject Countries
8. The countries involved in the present investigation are Indonesia, Thailand and Singapore
(hereinafter referred to as ‘Subject Countries’).
Page 3 of 6
E. Normal value
9. The applicants have submitted that efforts were made to get information/evidence of
transaction price of subject goods in the domestic market of subject countries. However,
applicants were not able to get such information. The applicants have therefore constructed
normal value for all subject countries on the basis of cost of production in India duly adjusted.
F. Export Price
10. The export price has been claimed by the applicants as the weighted average import price from
the subject countries based on the transaction-wise import data procured from DGCI&S. Price
adjustments have been claimed on account of ocean freight, marine insurance, commission,
inland freight expenses, port expenses, bank charges to arrive at the net export price.
G. Dumping Margin
11. The comparison of normal values with the ex-factory export price has been carried out, which
shows a significant dumping margin in respect of the subject goods exported by each of the
subject countries.
H. Evidence of Injury and Causal Link
12. The applicants have furnished evidence regarding the injury having taken place as a result of
the alleged dumping in the form of increased volume of dumped imports in absolute terms and
in relation to production & consumption, price undercutting, and consequent significant
adverse impact on profitability, return on capital employed, cash flow, and deterioration in
production, capacity utilization, sales and market share of the domestic industry and low level
of profits, cash profits & return on investment. There is sufficient prima facie evidence of
‘material injury’ being suffered by the domestic industry caused by alleged dumped imports
from the subject countries to justify initiation of an anti-dumping investigation.
13. The applicants have also claimed threat of material injury on the grounds that rate of increase
in imports from the subject countries is significantly high, the subject producers have huge
surplus capacities, price undercutting is significant and the Indian market is attractive which is
likely to further increase in imports and cause supressing or depressing effects in the domestic
market.
I. Initiation of investigation
14. The authority finds sufficient prima facie evidence of dumping of subject goods, originating in
or exported from the subject countries; injury to the domestic industry and causal link between
Page 4 of 6
alleged dumping and injury, to justify initiation of anti-dumping investigation to determine the
existence, degree and effect of alleged dumping and to recommend the amount of anti-dumping
duty, which if levied, would be adequate to remove the ‘injury’ to the domestic industry.
Accordingly, the authority hereby initiates an investigation into the alleged dumping and
consequent injury to the domestic industry in terms of Para 5 of the Rules.
J. Period of investigation (POI)
15. The petitioners proposed period of investigation as April 2016-March 2017. However, the
Authority has considered the period April 2016 – June 2017 (15 months) as the investigation
period for the purpose of present investigations. The injury investigation period shall cover the
periods April 2013- March 2014, April 2014-March 2015, April 2015-March 2016 and the
period of investigation.
K. Submission of Information
16. The known exporters in the subject countries, the Government of the subject countries through
their embassy in India, the importers and users in India known to be concerned with the product
are being addressed separately to submit relevant information in the form and manner
prescribed and to make their views known to the Authority at the following address:
The Designated Authority,
Directorate General of Anti-Dumping & Allied Duties,
Ministry of Commerce & Industry,
Department of Commerce
4th Floor, Jeevan Tara Building,
5 Parliament Street, New Delhi -110001.
Dgad.india@gov.in
17. Any other interested party may also make its submissions relevant to the investigation in the
prescribed form and manner (downloadable from the website of the authority at
www.dgtr.gov.in ) within the time limit set out below.
L. Time limit
18. Any information relating to the present investigation and any request for hearing should be sent
in writing so as to reach the Authority at the address mentioned above not later than forty days
(40 Days) from the date of publication of this Notification. If no information is received within
the prescribed time limit or the information received is incomplete, the Authority may record
its findings on the basis of the facts available on record in accordance with the Anti-dumping
Rules.
Page 5 of 6
19. All the interested parties are hereby advised to intimate their interest (including the nature of
interest) in the instant matter and file their questionnaire responses and offer their comments
to the domestic industry’s application regarding the need to impose the Antidumping measures
within 40 days from the date of initiation of this investigation
M. Submission of Information on Confidential/Non-Confidential basis
20. In case confidentiality is claimed on any part of the questionnaire’s response/submissions, the
same must be submitted in two separate sets (a) marked as Confidential (with title, index,
number of pages, etc.) and (b) other set marked as Non Confidential (with title, index, number
of pages, etc.). All the information supplied must be clearly marked as either “confidential” or
“non-confidential” at the top of each page.
21. Information supplied without any confidential marking shall be treated as non-confidential and
the Authority shall be at liberty to allow the other interested parties to inspect any such nonconfidential
information. Two (2) copies of the confidential version and of the non-confidential
version must be submitted by all the interested parties.
22. For information claimed as confidential; the supplier of the information is required to provide
a good cause statement along with the supplied information as to why such Information cannot
be disclosed and/or why summarization of such information is not possible.
23. The non-confidential version is required to be a replica of the confidential version with the
confidential information preferably indexed or blanked out /summarized depending upon the
information on which confidentiality is claimed. The non-confidential summary must be in
sufficient detail to permit a reasonable understanding of the substance of the information
furnished on confidential basis. However, in exceptional circumstances, parties submitting the
confidential information may indicate that such information is not susceptible to
summarization; a statement of reasons why summarization is not possible must be provided to
the satisfaction of the Authority.
24. The Authority may accept or reject the request for confidentiality on examination of the nature
of the information submitted. If the Authority is satisfied that the request for confidentiality is
not warranted or the supplier of the information is either unwilling to make the information
public or to authorize its disclosure in generalized or summary form, it may disregard such
information.
25. Any submission made without a meaningful non-confidential version thereof or without a good
cause statement on the confidentiality claim may not be taken on record by the Authority. The
Authority on being satisfied and accepting the need for confidentiality of the information
provided; shall not disclose it to any party without specific authorization of the party providing
such information.
Page 6 of 6
N. Inspection of Public File
26. In terms of rule 6(7) any interested party may inspect the public file containing non-confidential
versions of the evidence submitted by other interested parties.
O. Non-cooperation
27. In case any interested party refuses access to and otherwise does not provide necessary
information within a reasonable period, or significantly impedes the investigation, the
Authority may declare such interested party as non-cooperative and record its findings on the
basis of the facts available to it and make such recommendations to the Central Government as
deemed fit.
(Sunil Kumar)
Additional Secretary & Designated Authority

GST
QUICK REFERENCER
Abhipra Capital Ltd.
GF-58-59, World Trade Centre, Barakhamba Lane, Connaught Place, New Delhi-110001
www.abhipra.com, Mobile No.: 7428396205, Email: gst@abhipra.com, gsthelpline@abhipra.com
Suvidha
Provider
Abhipra

Abhipra GSP – Bridge between taxpayer
and the GST Network

 

 

 

 

 

 

Abhipra
• Registration
• Challan
Generation
• Invoice
uploading
• Return Filling
• Ledger
(V.D. Aggarwal)
Chartered Accountant
Mob : 9810194395
E-mail: vda@abhipra.com
Preface
It is a matter of great pleasure to me for presenting GST Quick Referencer on the Paper Day and the
business festival technical conference on pulp and paper industry strategies for sustainable growth and
competitiveness (from 01.11.2017 to 04.11.2017) which is being celebrated by Paper Merchant
Association (PMA) and Federation of Paper Traders Association of India (FPTA).
I hope this referencer will help all the members of both the Associations in discharging their obligations
arising under GST.
Goods and Services Tax Act is a new Act and is currently under its infant stage and hence almost every
day some modications / reliefs are being announced by the GST Council to adapt the system as per
market scenario.
Honorable Prime Minister Shri Narendra Modi has appealed for creating “NEW INDIA”. This calls for making money
more accountable and productive. The government’s initiative for Demonetization and GST are very important tools to
assault the shadow economy, to integrate informal economy with the formal, and to take all consequential steps in one
direction to expand India into a far, cleaner, bigger and better economy.
Latest IMF report supports Indian economy in positive side and states that after demonetization and implementation of
GST, India is likely to regain the tag of the fastest growing, emerging economies of the world in 2018.
According to the IMF, GST which promises the unication of India’s vast domestic market, is among several key structural
reforms under implementation that are expected to help push growth rate above 8 per cent.
The GST is expected to have an overall positive impact on paper manufacturers, especially in the organized sector. The
entire supply chain will become more efcient. The GST on imports will provide some relief to domestic paper
manufacturers. Exports to other countries will also get some boost, with full refund of input tax credit to the
manufacturers/merchant export
I am grateful to Federation of Paper Traders Association of India and Paper Merchant Association and their ofce
bearers namely Shri Venkat Annamlai (President), Hiren Karia (Genenral Secretary) of Federation of Paper Traders
Association of India and Shri Gyan Prakash (President), Shri Anil Gupta (General Secretary) of Paper Merchant
Association and also especially GST convener Shri Krishan Mohan Ji and organizing Convener and Co-Convener of Paper
Day Shri Satyapal Gupta Ji and Shri Ramesh Gupta Ji for providing me an opportunity to be with you on this occasion.
They have taken big initiatives and pains for arranging this technical conference for 4 days which will give awareness
about GST to the entire paper community and will give fruitful result.
Place : Delhi
Dated : 01.11.2017
Index
Sr. No. Particular Page No.
1. Registration 01
2. Registration Forms & Procedure 02
3. Returns 03
4. Transitional Provision 05
5. Time, Place and Value of Supply 06
6. Supply of Goods Under Reverse Charge Mechanism (RCM) 11
7. Services Under Reverse Charge Mechanism (RCM) 12
8. Input Tax Credit (ITC) Mechanism 14
9. Job Work 17
10. Credit Note / Debit Note 18
11. Import 19
12. Export 20
13. Audit 22
14. Offences and Penal Provision 23
15. HSN Code & Rate of Tax 25
16. E-way Bill 26
17. Some Other Important Key Points – Principal, Pure Agent, Electronic Ledger 29
18. GST Obligations – Calendar 30
Abhipra
1. Registration under GST
A) Registration is required on turnover exceeding Rs 20 lakhs in a nancial year and Rs 10 lakhs for Special
category states namely Arunachal Pradesh, Assam, Jammu & Kashmir, Manipur, Meghalaya, Mizoram, Nagaland,
Sikkim, Tripura, Himachal Pradesh and Uttarakhand.
B) In case of dealing in exempted items no need for registration irrespective of any volume of turnover.
C) Registration is mandatory for inter-state supply of goods.
D) Registration is also mandatory for:
• Casual Taxable Person
• Non-Resident Taxable Person
• Agents of a supplier
• Taxpayers paying tax under reverse charge mechanism
• Input Service Distributors
• E-commerce operator or aggregator and their suppliers
• Person supplying online information and database access or retrieval services from a place outside India to a
person in India, other than a registered taxable person.
E) Important to multiple business verticals houses
• A person having multiple business verticals (as dened in section 218) in one state may obtain a separate
registration for each business vertical.
F) Documents required for registration
i. Mobile number and email ID for generation of OTP.
ii. Proof of constitution of business (incorporation certicate in case of company, Partnership deed in case of
rm etc.)
iii. Principal place and additional places of business address proof as stated below
– in case of rented premises – rent agreement with electricity/telephone bill (not older than three months)
– In case of owned premises – copy of ownership proof alongwith electricity/telephone bill (not older than
three months)
iv. Details of bank accounts of the business such as account no., type of account, name and address of the
bank, IFSC code, along with proof such as a copy of rst page of passbook or relevant extract of bank
statement
Additional information in case of Companies apart from mentioned in clause F above
v. List of top ve goods with their corresponding HSN code and category of services rendered
01
vi. Copy of Form number DIR 12 in case of companies incorporated under companies 2013 and in case of old
companies incorporated under Companies Act 1956 form number 32, (proof of appointing the directors)
along with their photograph, copy of PAN, Aadhaar card/passport and mobile no.
vii. List of directors and authorized signatory.
viii. Copy of board resolution, photograph, copy of PAN, Aadhaar card/passport and mobile no. of the authorized
person.
Additional information in case of Partnership rm apart from mentioned in clause F above
ix. PAN card of partnership rm, Partnership Deed, Bank Statement, PAN of all partners and ID proof of
designated partners.
x. Digital Signature of designated partners/authorized signatory
G. Exemption from GST Registration:
The following shall not be required to obtain registration and will be allotted a UIN (Unique Identication Number)
instead.
• Any specialized agency of UNO (United Nations Organization) or any multilateral nancial institution and
organization notied under the United Nations Act, 1947
• Consulate or Embassy of foreign countries
• Any other person notied by the Board/Commissioner
• Any specic person recommended by GST council
2. GST Registration Forms and Procedure
GST Registration Forms
Form GST REG 01 Application for Registration under section 19(1) GST ACT 2017 to be led within 30 days of
liability
Form GST REG 02 Acknowledgement fromt GSTN
Form GST REG 03 Notice for Seeking Additional Information relating to Registration / Amendments / Cancellation
Form GST REG 04 Application for ling clarication Registration / Amendment / Cancellation / Revocation of
Cancellation
Form GST REG 05 Order of Rejection of Application for Registration / Amendment / Cancellation / Revocation of
Cancellation
Form GST REG 06 Registration Certicate issued under section 19(8A) of the GST Act, 2017
Form GST REG 07 Application for Registration as TDS or TCS under section 19(1) of the GST Act, 2017
Form GST REG 08 Order of Cancellation of Application for Registration as TDS /TCS under section 21 of the GST Act
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02
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Form GST REG 09 Application for Allotment of Unique ID to UN Bodies/ Embassies /any other person under
section 19(6) of the GST Act
Form GST REG 10 Application for Registration for Non Resident Taxable Person
Form GST REG 11 Application for Amendment in Particulars subsequent to Registration
Form GST REG 12 Order of Amendment of existing Registration
Form GST REG 13 Order of Allotment of Temporary Registration/ Suo Moto Registration
Form GST REG 14 Application for Cancellation of Registration under GST Act 2017
Form GST REG 15 Show Cause Notice for Cancellation of Registration
Form GST REG 16 Order for Cancellation of Registration
Form GST REG 17 Application for Revocation of Cancelled Registration under GST Act 2017
Form GST REG 18 Order for Approval of Application for Revocation of Cancelled Registration
Form GST REG 19 Notice for Seeking Clarication / Documents relating to Application for Revocation of
Cancellation
Form GST REG 20 Application for Enrolment of Existing Taxpayer
Form GST REG 21 Provisional Registration Certicate to existing taxpayer
Form GST REG 22 Order of cancellation of provisional certicate
Form GST REG 23 Intimation of discrepancies in Application for Enrolment of existing taxpayer
Form GST REG 24 Application for Cancellation of Registration for the Migrated Taxpayers not liable for registration
under GST Act 2017
Form GST REG 25 Application for extension of registration period by Casual / Non-Resident taxable person
Form GST REG 26 Form for Field Visit Report
3. GST Returns
A return is a document that a taxpayer is required to le as per the law with the tax administrative authorities. Under
the GST law, a normal taxpayer will be required to furnish three returns monthly and one annual return. Similarly,
there are separate returns for a taxpayer registered under the composition scheme, taxpayer registered as an Input
Service Distributor, a person liable to deduct or collect the tax (TDS/TCS).
GST Return Form
Return Form Particulars By Whom? Due Dates
GST R-1 Outward supplies (SALES) Registered Tax Supplier 10th of the next month
GST R-2 Inward supplies (Purchase) Registered Taxable
Recipient
15th of the next month
03
GST R-3 Monthly return Registered Taxable Person 20th of the next month
In case of SMEs having turnover up to Rs 1.5 crore are required to le above return on quarterly basis
GST R-4 Quarterly return for composite Taxpayer
(Turnover up to 1 Crore)
Composition Taxpayer 18th of the month succeeding
quarter
GST R-5 Non-Resident Foreign Taxpayer Non-Resident Taxable
Person
20th of the next month
GST R-6 Input Service Distributor (ISD) Input Service Distributor 13th of next month
GST R-7 Tax Deducted at Source(Notication is
still pending)
Tax Deductor 10th of the next month
GST R-8 Supplies through Ecommerce E-commerce Operator/Tax
Collector
10th of the next month
GST R-9 Annual Return Taxable Person 31st December of next nancial
year (2018-19)
GST R-10 Final Return Taxable person whose
registration has been
surrendered or cancelled.
Within three months of the date of
cancellation or date of cancellation
order, whichever is later.
GST R-11 Details of inward supplies to be
furnished by a person having UIN
Person having UIN and
claiming refund
28th of the month following the
month for which statement is led
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Revision of GST Retuns
• There is no provision for revision of returns.
• All unreported invoices of previous tax period would be reected
in the return for the month in which they are proposed to be
included. The interest, if applicable will be auto populated.
• All under-reported invoice and ITC revision will have to be
corrected using credit/debit note and such credit / debit note
would be reected in the return for the month in which such
adjustment is carried out. The credit/debit note will have
provision to record original invoice, date etc. to enable the
system to link the same with the original invoice as also to
calculate the interest, if applicable. Its format will be like the
invoice.
• There would be separate tables in the returns for reecting
those adjustments for which credit / debit notes are not
required to be issued / issued. The interest, if applicable will be
auto populated.
Abhipra
GST Suvidha Provider
04
Abhipra
Transitional Provision for Input Tax Credit
Registered Under VAT but
not in Excise
Excise invoice
available for which
are in stock
100% Credit
Available
Availability of credit
If stock taxable as 18% or
28% in GST – 60% of CGST
If stock taxable as 5% or 12%
in GST – 40% of CGST
Registered Under VAT &
Excise
Input credit forward in
VAT/Excise return for
period ending
30/06/2017
Unavailed CENVAT credit
on capital goods
Credit available to be utilized as
VAT Credit – SGST Credit
Excise Credit – CGST Credit
Not Carried forward
in return under
Excise Law
Entitled to take in his
electronic credit
ledger
As per Current provision if any VAT credit is not carry forward in GST regime due to non submission of forms as
prescribed, it can be refunded under the existing law when the said claims are substantiated in the manner prescribed.
4. Transition Provision for Input Tax Credit
GST Transitional Forms
GST TRAN 1 Application by every registered person entitled to take credit of input tax under section 140 within
sixty days from appointed day.
GST TRAN 2 GST Transitional Provisions FORM GST TRAN 2
GST Transitional Forms
05
5. Time, Place and Value of Supply under GST
Abhipra
Time of Supply under Reverse Charge
06
Time of supply of Goods &
Services under Forward Charge
In case of Goods –
Earliest of the following
In case of Services –
Earliest of the following
Date of issue of
invoice by the
supplier or Last
Date by which he
is required to
issue the invoice
Date on which
the supplier
recieves the
payment
Date of issue of
invoice by the
supplier if invoice
issued within
prescribed period
Date of provision
of Service if
invoice is not
issued with in
prescribed
format
Date on which
the supplier
receives the
payment
Time of supply of Goods &
Services under Reverse Charge
In case of Goods –
Earliest of the following
In case of Services
The date
of the
receipt of
the goods
30 days
from the
date of
invoice
issued by
the
supplier
Associated
Enterprises –
Earliest of the
Following
Other than Associasted
Enterprises – Earliest of
the following
The date of entry
in the books of
the receipent
Date of
Payment
The date on
which
payment is
made
60 days
form the
date of
invoice
issued by
the supplier
The date
on which
payment
is made
Abhipra
Place of Supply (Other than Import & Export)
Place of Supply of Services
07
Supply of services to
registered person
Location of recipient Location of
Supplier
Where the address of
recipient on record
exist
Where the address of
recipient on record
not exist
Supply of services to
person other than
registered person
Location fo such
operson
Place of Supply of Services
Place of Supply (Other than Import & Export
Where Physical
movement of goods
Involved
Where
Physical movement
of goods not
Involved
If goods assembled
or installed at site
If goods supplied
on board or
conveyance
In any other case
Goods supplied
directly by the
supplier to the
receipient
Goods supplied to the
receiplent on the direction
of Third Person (either by
trasfer of title or
otherwise)
Place of such
installation
Location of goods
at the time of
delivery
By Law made by
the parliament
along with
suggestions by
GST Council
Location where
goods taken on
board
Location where
movement of
goods terminate
for delivery
Principal place of
business of such
person
Valuation of supply under GST
Transaction Value
Under GST law, taxable value is the transaction value i.e. price actually paid or payable, provided the supplier and the
recipient are not related and price is the sole consideration. In most of the cases of regular normal trade, the invoice value
will be the taxable value. However, to determine value of certain specic transactions, Determination of Value of Supply
rules have been prescribed in CGST Rules.
Compulsory Inclusions
Any taxes, fees, charges levied under any law other than GST law, expenses incurred by the recipient on behalf of the
supplier, incidental expenses like commission and packing incurred by the supplier, interest or late fees or penalty for
delayed payment and direct subsidies (except government subsidies) are required to be added to the price (if not already
added) to arrive at the taxable value.
Exclusion of discounts
Discounts like trade discount, quantity discount etc. are part of the normal trade and commerce. Therefore, pre-supply
discounts i.e. discounts recorded in the invoice have been allowed to be excluded while determining the taxable value.
Discounts provided after the supply can also be excluded while determining the taxable value, provided two conditions are
met, namely:
(a) Discount is established in terms of a pre supply agreement between the supplier and the recipient and such discount
is linked to relevant invoices
(b) Input tax credit attributable to the discounts is reversed by the recipient
Taxable value when consideration is not solely in terms of money
In some cases, where consideration for a supply is not solely in money, taxable value has to be determined as – prescribed
in the rules. In such cases following values have to be taken sequentially to determine the taxable value:
i. Open Market Value of such supply
ii. Total money value of the supply i.e. monetary consideration plus money value of the non-monetary consideration
iii. Value of supply of like kind and quality
iv. Value of supply based on cost i.e. cost of supply plus 10% mark-up
v. Value of supply determined by using reasonable means consistent with principles and general provisions of GST law.
(Best Judgment method)
Value of supply between related persons (excluding Agents)
A person who is under inuence of another person is called a related person like members of the same family or
subsidiaries of a group company etc. Under GST law various categories of related persons have been specied and as
relation may inuence the price between two related persons therefore special valuation rule has been framed to arrive at
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08
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the taxable value of transactions between related persons. In such cases following values have to be taken sequentially to
determine the taxable value: –
i. Open Market Value
ii. Value of supply of like kind and quality.
iii. Value of supply based on cost i.e. cost of supply plus 10% mark-up.
iv. Value of supply determined by using reasonable means consistent with principles and general provisions of GST law.
(Best Judgment method)
However if the recipient is eligible for full input tax credit, the invoice value will be accepted as taxable value. It has
also been provided that where the goods being supplied are intended for further supply as such by the recipient, the
value shall , at the option of the supplier, be an amount equivalent to 90% of the price charged for the supply of goods
of like kind and quality by the recipient to his unrelated customer.
Value of supply of goods made or received through an agent
(a) Open market value of goods being supplied, or, at the option of the supplier, 90% of the price charged for the supply
of goods of like kind and quality by the recipient to his unrelated customer.
(b) In case value cannot be determined under (a) then following values have to be taken sequentially to determine the
taxable value:
i. Value of supply based on cost i.e. cost of supply plus 10% mark-up
ii. Value of supply determined by using reasonable means consistent with principles & general provisions of GST
law. (Best Judgment method)
Value of supply of services in case of a Pure Agent
Subject to fulllment of conditions as laid down in rules, the expenditure and costs incurred by the supplier as a pure
agent of the recipient of supply of service, has to be excluded from the value of supply.
Determination of value in respect of specied supplies
Methods to determine Taxable value of specied supplies have also been prescribed under valuation Rules. These can be
used by the supplier, if he so desires.
(A) PURCHASE OR SALE OF FOREIGN CURRENCY INCLUDING MONEY CHANGING
Special provision related to determination of Value of service of purchase or sale of foreign currency including
money changing
Option-1
Case 1: Transaction where one of the currencies exchanged is Indian Rupees
Taxable value is difference between buying rate or selling rate of currency and RBI reference rate for that currency at
the time of exchange multiplied by total units of foreign currency. However if RBI reference rate for a currency is not
09
available then taxable value is 1% of the gross amount of Indian Rupees provided/ received by the person changing
the money.
Case 2: Transaction where neither of the currencies exchanged is Indian Rupees
Taxable value will be 1% of the lesser of the two amounts the person changing the money would have received by
converting (at RBI reference rate) any of the two currencies in Indian Rupees.
Option-2
The person supplying the service may also exercise the following option to ascertain the taxable value, however, once
opted then he cannot withdraw it during the remaining part of the nancial year:
• One percent of the gross amount of currency exchanged for an amount upto one lakh rupees, subject to minimum
amount of two hundred and fty rupees
• One thousand rupees and half of a percent of the gross amount of currency exchanged for an amount exceeding
one lakh rupees and up to ten lakh rupees
• Five thousand rupees and one tenth of a percent of the gross amount of currency exchanged for an amount
exceeding ten lakhs rupees subject to a maximum amount of sixty thousand rupees
Rate of exchange of currency, other than Indian rupees, for determination of value.
The rate of exchange for determination of value of taxable goods or services or both shall be the applicable RBI
reference rate for that currency on the date of time of supply as determined in terms of Section 12 or Section 13 of the
CGST Act. Value of supply will be inclusive of Integrated tax, Central tax, State tax, Union territory tax.
(B) BOOKING OF TICKETS FOR AIR TRAVEL BY AN AIR TRAVEL AGENT
Special provision related to determination of value of service of booking of tickets for air travel by an air
travel agent
Taxable value is 5% of basic fare in case of domestic travel and 10% of basic fare in case of international travel. Basic
fare means that part of the air fare on which commission is normally paid to the air travel agent by the airline.
(C) LIFE INSURANCE BUSINESS
Special provision related to determination of value of service in relation to life insurance business Taxable
value varies with nature of insurance policy. The details are as follows:
• Where policy has dual benets of risk coverage and investment – Taxable value is gross premium charged less
amount allocated for investments or savings if such allocation is intimated to the policy holder at the time of
collection of premium.
• Single premium annuity policy where allocation for investments and savings is not intimated to the policy holder –
taxable value is ten percent of the single premium charged from the policy holder.
• Other cases- Twenty ve percent of premium charged from the policy holder in the rst year and twelve and a half
percent of premium charged for subsequent years.
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10
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However, where insurance policy has benet of risk coverage only, then taxable value is entire premium charged
from the policy holder.
(D) VALUE OF SUPPLY OF SECOND HAND GOODS
Special provision related to determination of value of second hand goods
The taxable value of supply of second hand goods i.e. used goods as such or after such minor processing which does
not change the nature of goods shall be the difference between the purchase price and the selling price, provided no
input tax credit has been availed on purchase of such goods. However, if the selling price is less than purchase price,
that negative value will be ignored. Persons who purchase second hand goods after payment of tax to supplier of such
goods will be governed by this valuation rule only when they do not avail input tax credit on such input supply. If
input tax credit is availed, then such supply will be governed by normal GST valuation.
Value of supply of goods repossessed from a defaulting borrower
If the defaulting borrower is not a registered person, the purchase value will be purchase price in the hands of such
borrower reduced by ve percentage points for every quarter or part thereof, between the date of purchase and the
date of disposal by the person making such repossession. However, if the defaulting borrower is registered, the
repossessing lender agency will discharge GST at the supply value without any reduction from actual/notional
purchase value.
(E) VALUE OF REDEEMABLE VOUCHERS/STAMPS/COUPONS/TOKENS THE SPECIAL PROVISIONS RELATED TO
DETERMINATION OF THESE SUPPLIES ARE AS BELOW:
Special provisions related to determination of value of redeemable vouchers / stamps / coupons / tokens
The value of a token, or a voucher, or a coupon, or a stamp (other than postage stamp) which is redeemable against a
supply of goods or services or both shall be equal to the money value of the goods or services or both redeemable
against such token, voucher, coupon, or stamp.
Value of taxable services provided by a notied class of service providers as referred to in Para 2 of Schedule 1 of
GST Act between the distinct persons. The taxable value is deemed to be Nil wherever input tax credit is available.
6. Supplies of goods under reverse charge mechanism:
S. No Description of supply of goods Supplier of Goods Recipient of Goods
1 Cashew nuts, not shelled or peeled Agriculturist Any registered person
2 Bidi wrapper leaves (tendu) Agriculturist Any registered person
3 Tobacco leaves Agriculturist Any registered person
4 Supply of lottery State Government, Union Territory or
any local authority
Lottery distributor or selling agent
5 Silk yarn Any person who manufactures silk
yarn from raw silk or silk worm
cocoons for supply of silk yarn
Any registered person
11
Abhipra
Sl.
No.
Service Provider of
service
Percentage of
service tax
payable by
service
provider
Recipient of Service Percentage of
service tax
payable by any
person other
than the
service provider
1. Taxable services provided or
agreed to be provided by any
person who is located in a nontaxable
territory and received
by any person located in the
taxable territory other than
non-assessee
online recipient (OIDAR)
Any
person who is
located in
a
non- taxable
territory
Nil Any person located in the taxable
territory other than non assessee
online recipient (Business
Recipient)
100%
2. Services provided or agreed to
be pr o v ided by a g o ods
transport agency (GTA) in
respect of transportation of
goods by road
Goods
Transport
Agency (GTA)
Nil (a) any factory registered under
or governed by the Factories
Act, 1948;
(b) any society registered under
the Societies Registration
Act, 1860 or under any other
law for the time being in
force in any part of India;
(c) any co-operative society
established by or under any
law;
(d) any person registered under
CGST/SGST/UTGST Act;
(e) a n y b o d y c o r p o r a t e
established, by or under any
law; or
(f) a n y p a r t n e r s h i p  r m
whether registered or not
under any law including
association of persons.
(g) Casual taxable person
100%
3. Services provided or agreed to
be provided by an individual
advocate or rm of advocates
by way of legal services,
directly or indirectly
An individual
advocate or
rm of
advocates
Nil Any business entity. 100%
7. Services Under Reverse Charge
12
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4. Services provided or agreed to
be provided by an arbitral
tribunal
An
arbitral
tribunal
Nil Any business entity. 100%
5. Sponsorship services Any person Nil Anybody corporate or
partnership rm.
100%
6. Services provided or agreed to
be provided by Government or
local authority excluding, –
(1) renting of immovable
property, and
(2) services specied below-
(i) services by the Department
of Posts by way of
speed post, express parcel
post, life insurance, and
agency services provided
to a person other than
Government;
(ii) services in relation to an
aircraft or a vessel, inside
or outside the precincts of
a port or an airport;
(iii) transport of goods or
passengers.
Government
or local
Authority
Nil Any business entity. 100%
7. Services provided or agreed to
be provided by a director of a
company or a body corporate to
the said company or the
body corporate;
A director of a
company or a
body
corporate
Nil A company or a body corporate. 100%
8. Services provided or agreed to
be provided by an insurance
agent to any person carrying
on insurance business
An insurance
agent
Nil Any person carrying
on insurance business.
100%
9. Services provided or agreed to
be provided by a recovery agent
to a banking company or a
nancial institution or a nonbanking
nancial
company
A recovery
agent
Nil A banking company or a
nancial institution or a nonbanking
nancial company.
100%
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10. Services by way of transportation
of goods by a vessel
from a place outside India up to
the customs
station of clearance in India
Person located
in non-taxable
territory
Nil Importer as dened under
clause (26) of section 2 of the
Customs Act, 1962.
100%
11. Transfer or permitting the use
or enjoyment of a copyright
covered under clause (a) of subsection
(1) of section 13 of the
Copyright Act, 1957 relating to
original literary, dramatic,
musical or artistic
works
Author or
music
composer,
photographer,
artist, etc.
NIL Publisher, Music company,
Producer
100%
12. Radio taxi or Passenger
Transport Services provided
through electronic commerce
operator
Taxi driver or
Rent a cab
operator
Nil Any person 100% by
Electronic
Commerce
Operator
8. Input Tax Credit Mechanism (ITC)
Input tax credit means credit can be taken for the GST paid at the time of procuring the inward supplies.
GST comprises of the following levies:
a) Central Goods and Services Tax (CGST) [also known as Central Tax] on intra-state or intra-union territory without
legislature supply of goods or services or both.
b) State Goods and Services Tax (SGST) [also known as State Tax] on intra-state supply of goods or services or both.
c) Union Territory Goods and Services Tax (UTGST) [also known as Union territory Tax] on intra-union territory
d) supply of goods or services or both.
e) Integrated Goods and Services Tax (IGST) [also known as Integrated Tax] on inter-state supply of goods or services or
both. In case of import of goods also, the present levy of Countervailing Duty (CVD) and Special Additional Duty (SAD)
would be replaced by integrated tax.
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Tax Liabilities Available Input Tax Credit (In the order of utilization)
IGST IGST CGST SGST
CGST IGST CGST
SGST IGST SGST
The following are important issues relating to Input Tax Credit:
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A. Any registered person can avail credit of tax paid on the inward supply of goods or services or both, which is used or
intended to be used in the course or furtherance of business.
B. The pre-requisites for availing credit by registered person are:
a. He is in possession of tax invoice or any other specied tax paying document.
b. He has received the goods or services. “Bill to ship” scenarios also included.
c. Tax is actually paid by the supplier.
d. He has furnished the return.
e. If the inputs are received in lots, he will be eligible to avail the credit only when the last lot of the inputs is received.
f. He should pay the supplier, the value of the goods or services along with the tax within 180 days from the date of issue
of invoice, failing which the amount of credit availed by the recipient would be added to his output tax liability, with
interest. However, once the amount is paid, the recipient will be entitled to avail the credit again. In case part payment
has been made, proportionate credit would be allowed.
C. Documents on the basis of which credit can be availed are:
a. Invoice issued by a supplier of goods or services or both
b. Invoice issued by recipient alongwith proof of payment of tax
c. A debit note issued by supplier
d. Bill of entry or similar document prescribed under Customs Act
e. Revised invoice
f. Document issued by Input Service Distributor
D. No ITC beyond September of the following Financial Year to which invoice pertains or date of ling of annual return,
whichever is earlier
E. The Input Service Distributor (ISD) may distribute the credit available for distribution in the same month in which, it is
availed. The credit of CGST, SGST, UTGST and IGST shall be distributed as per the provisions of Rule 4(1) (d) of ITC Rules.
ISD shall issue invoice in accordance with the provisions made under Rule 9(1) of Invoice Rules.
F. ITC is not available for supplies/services as laid down in section 17(5) of CGST Act, 2017. An illustrative list as under:
Negative List of ITC as per Section 17(5) of the CGST Act
1 In Case of Motor Vehicle
NATURE OF BUSINESS NATURE OF VEHICLE ITC CLAIM
Dealer of Motor Vehicle Any Vehicle Full ITC can be claimed
Passenger Transportation Vehicle used for Passenger
Transportation
Full ITC can be claimed
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Any Other vehicle ITC cannot be claimed
Training relating to driving of such
vehicle
Vehicle used for training Full ITC can be claimed
Any other Vehicle ITC cannot be claimed
Any other business Vehicle used for transportation of goods Full ITC can be claimed
Any other vehicle ITC cannot be claimed
2 In case of Other Items
NATURE ITC CLAIM EXCEPTIONS
Food & Beverages ITC cannot be claimed If engaged in similar line of business, then
Outdoor catering ITC cannot be claimed
Beauty treatment services ITC cannot be claimed
Health services ITC cannot be claimed
Cosmetic and plastic surgery ITC cannot be claimed
Rent a cab service ITC cannot be claimed If engaged in similar line of business or there is
mandatory requirement from government to provide
such services by employer to employee then full ITC
can be claimed on these items
Life Insurance service ITC cannot be claimed
Health Insurance service ITC cannot be claimed
Membership of a club, health &
tness Centre
ITC cannot be claimed No exception
LTA benet extended to employees ITC cannot be claimed No exception
Construction Contract Services for
construction of immovable property
ITC cannot be claimed If engaged in similar line of business, then
Full ITC can be claimed on these items
ITC on goods and services used for
self-construction of building cost of
which is capitalized in books
ITC Cannot be claimed No exception
Goods and Services Meant for
Personal Consumption
ITC Cannot be claim No exception
3 ITC to be Reverse
Goods lost, stolen, destroyed,
written off
ITC to be reverse No exception
Goods disposed off by way of gift or
free samples
ITC to be reverse No exception
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9. What is Job-Work?
Section 2(68) of the CGST Act, 2017 denes job-work as ‘any treatment or process undertaken by a person on goods
belonging to another registered person’. The one who does the said job would be termed as ‘jobworker’. The ownership of
the goods does not transfer to the job-worker but it rests with the principal. The jobworker is required to carry out the
process specied by the principal on the goods.
Job-work procedural:
a) A registered person (Principal) can send inputs/capital goods under intimation and subject to certain conditions
without payment of tax to a job-worker and from there to another job-worker and after completion of job-work bring
back such goods without payment of tax. The principal is not required to reverse the ITC availed on inputs or capital
goods dispatched to job-worker.
b) Principal can send inputs or capital goods directly to the job-worker without bringing them to his premises and can
still avail the credit of tax paid on such inputs or capital goods.
c) However, inputs and/or capital goods sent to a jobworker are required to be returned to the principal within 1 year
and 3 years, respectively, from the date of sending such goods to the job-worker.
d) After processing of goods, the job-worker may clear the goods toI.
Another job-worker for further processing
II. Dispatch the goods to any of the place of business of the principal without payment of tax
III. Remove the goods on payment of tax within India or without payment of tax for export outside India on fullment
of conditions.
The facility of supply of goods by the principal to the third party directly from the premises of the jobworker on payment of
tax in India and likewise with or without payment of tax for export may be availed by the principal on declaring premise of
the job-worker as his additional place of business in registration. In case the job-worker is a registered person under GST,
even declaring the premises of the job-worker as additional place of business is not required.
Before supply of goods to the job-worker, the principal would be required to intimate the Jurisdictional Ofcer containing
the details of the description of inputs intended to be sent by the principal and the nature of processing to be carried out
by the job-worker. The said intimation shall also contain the details of the other job-workers, if any.
The inputs or capital goods shall be sent to the jobworker under the cover of a challan issued by the principal. The
challan shall be issued even for the inputs or capital goods sent directly to the job-worker. The challan shall contain the
details specied in Rule 10 of the Invoice Rules.
The responsibility for keeping proper accounts for the inputs or capital goods shall lie with the principal.
Input Tax credit on goods supplied to job worker
Section 19 of the CGST Act, 2017 provides that the principal (a person supplying taxable goods to the jobworker) shall be
entitled to take the credit of input tax paid on inputs sent to the job-worker for the job-work. Further, the proviso also
17
provides that the principal can take the credit even when the goods have been directly supplied to the job-worker without
being brought into the premise of the principal. The principal need not wait till the inputs are rst brought to his place of
business.
10. Credit Note / Debit Note
Credit Note means Where a tax invoice has been issued for supply of any goods or services or both and the taxable value
or tax charged in that tax invoice is found to exceed the taxable value or tax payable in respect of such supply, or where
the goods supplied are returned by the recipient, or where goods or services or both supplied are found to be decient, the
registered person, who has supplied such goods or services or both, may issue to the recipient what is called as a credit
note containing the prescribed particulars.
Format
There is no prescribed format for credit note / debit note but must contain the following particulars, namely:
(a) name, address and Goods and Services Tax Identication Number of the supplier;
(b) nature of the document;
(c) a consecutive serial number not exceeding sixteen characters, in one or multiple series, containing alphabets or
numerals or special characters hyphen or dash and slash symbolised as “-” and “/” respectively, and any combination
thereof, unique for a nancial year;
(d) date of issue;
(e) name, address and Goods and Services Tax Identication Number or Unique Identity Number, if registered, of the
recipient;
(f) name and address of the recipient and the address of delivery, along with the name of State and its code, if such
recipient is un-registered;
(g) serial number and date of the corresponding tax invoice or, as the case may be, bill of supply;
(h) value of taxable supply of goods or services, rate of tax and the amount of the tax credited to the recipient; and
(i) signature or digital signature of the supplier or his authorised representative.
Tax Liability
The person who issues a credit note in relation to a supply of goods or services or both must declare the details of such
credit note in the return for the month during which such credit note has been issued but not later than September
following the end of the nancial year in which such supply was made, or the date of furnishing of the relevant annual
return, whichever is earlier. In other words, the output tax liability cannot be reduced in cases where credit note has been
issued after September.
The output tax liability of the supplier gets reduced once the credit note is issued and it is matched. The details of the
credit note relating to outward supply furnished by the supplier for a tax period shall, be matched:
(a) with the corresponding reduction in the claim for input tax credit by the recipient in his valid return for the same tax
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period or any subsequent tax period; and
(b) for duplication of claims for reduction in output tax liability.
The claim for reduction in output tax liability by the supplier that matches with the corresponding reduction in the claim
for input tax credit by the recipient shall be nally accepted and communicated to the supplier. The reduction in output
tax liability of the supplier shall not be permitted, if the incidence of tax and interest on such supply has been passed on
to any other person.
Where the reduction of output tax liability in respect of outward supplies exceeds the corresponding reduction in the
claim for input tax credit or the corresponding credit note is not declared by the recipient in his valid returns, the
discrepancy shall be communicated to both such persons. Whereas, the duplication of claims for reduction in output tax
liability shall be communicated to the supplier.
Records
The records of the credit have to be retained until the expiry of seventy-two months from the due date of furnishing of
annual return for the year pertaining to such accounts and records. Where such accounts and documents are maintained
manually, it should be kept at every related place of business mentioned in the certicate of registration and shall be
accessible at every related place of business where such accounts and documents are maintained digitally.
Conclusion
The credit note is therefore a convenient and legal method by which the value of the goods or services in the original tax
invoice can be amended or revised. The issuance of the credit note will easily allow the supplier to decrease his tax liability
in his returns without requiring him to undertake any tedious process of refunds.
The amount in respect of which any discrepancy is communicated and which is not rectied by the recipient in his valid
return for the month in which discrepancy is communicated shall be added to the output tax liability of the supplier in his
return for the month succeeding the month in which the discrepancy is communicated.
The amount in respect of any reduction in output tax liability that is found to be on account of duplication of claims shall
be added to the output tax liability of the supplier in his return for the month in which such duplication is communicated.
Debit Note means When a tax invoice has been issued for supply of any goods or services or both and the taxable value
or tax charged in that tax invoice is found to be less than the taxable value or tax payable in respect of such supply, the
registered person, who has supplied such goods or services or both, shall issue to the recipient a debit note containing the
prescribed particulars.
The Contents and purpose of the debit is the same as stated above in relation to credit note.
11. Import
Since 2014, there has been no import duty on paper and paperboard from ASEAN countries. Under the India-Korea CEPA,
the basic customs duty has been reduced gradually with a 0% target by January 1, 2017 Between April and July this
year, the growth in imports has been more than 40%. In the writing and printing paper segment, import of coated,
uncoated, and copier papers is signicant.
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12. Exports
Exports – Clarication on issues related to furnishing of Bond/Letter of Undertaking (LUT) for exports
To remove the difculties faced by the exporters notications has been issued which extends the facility of LUT to all
exporters.
Following issues was claried by the government:-
In view of the difculties being faced by the exporters in submission of bonds/Letter of Undertaking (LUT) for exporting
goods or services or both without payment of integrated tax
a) Eligibility to export under LUT: Extension given to all registered persons who intend to supply goods or services for
export without payment of integrated tax except those who have been prosecuted for any offence under the CGST Act
or the Integrated Goods and Services Tax Act, 2017 or any of the existing laws and the amount of tax evaded in such
cases exceeds two hundred and fty lakh rupees.
b) Validity of LUT: The LUT shall be valid for the whole nancial year in which it is tendered.
c) Form for bond/LUT: Download the FORM GST RFD-11 from the website of the Central Board of Excise and Customs
(www.cbec.gov.in)
d) Documents for LUT: Self-declaration by the exporters.
e) Time for acceptance of LUT/Bond: LUT/bond should be accepted within a period of three working days of its
receipt along with the self-declaration.
f) Bank Guarantee – Since the facility of export under LUT has been extended to all registered persons, bond will be
required to be furnished by those persons who have been prosecuted for cases involving an amount exceeding Rupees
two hundred and fty lakhs.
A bond, in all cases, shall be accompanied by a bank guarantee of 15% of the bond amount.
g) Clarication regarding running bond: The exporters shall furnish a running bond where the bond amount would
cover the amount of self-assessed estimated tax liability on the export.
h) Sealing by ofcers: Till self-sealing becomes mandatory operational, sealing of containers wherever required to be
carried out under the supervision of the ofcer.
i) Purchases from manufacturer and Form CT-1: It is claried that there is no provision for issuance of CT-1 form
which enables merchant exporters to purchase goods from a manufacturer without payment of tax under the GST
regime.
j) Transactions with EOUs: Zero rating is not applicable to supplies to EOUs and there is no special dispensation for
them under GST regime.
k) Realization of export proceeds in Indian Rupee: Jurisdictional ofcer: In exercise of the powers conferred by subsection
(3) of section 5 of the CGST Act, it is hereby stated that the LUT/Bond shall be accepted by the jurisdictional
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Deputy/Assistant Commissioner having jurisdiction over the principal place of business of the exporter.
l) Realization of export proceeds in Indian Rupee: Accordingly, it is claried that the acceptance of LUT for supplies
of goods to Nepal or Bhutan or SEZ developer or SEZ unit will be permissible irrespective of whether the payments are
made in Indian currency or convertible foreign exchange as long as they are in accordance with the applicable RBI
guidelines.
Deemed Export
Deemed exports
Deemed exports refers to supplies wherein the goods do not actually leave India but the supplies are designated as
exports.
The supply of goods or services to the following would be treated as exports under GST Act
1. Supply made to a SEZ unit/ SEZ developer
2. Supply made to an Export oriented undertaking (EOU)
Filing of returns under GST Act for the deemed export is to be done as per the general procedures provided for export
under GST Act.
Kinds of supplies are designated as deemed exports(As per recent notication)
• Supply of goods by a registered person against Advance Authorisation;
• Supply of capital goods by a registered person against Export Promotion Capital Goods Authorisation;
• Supply of goods by a registered person to Export Oriented Unit;
• Supply of goods by a bank or Public‐Sector Undertaking specied in the notication No.
50/2017‐Customs, dated the 30th June 2017 (as amended) against Advance Authorisation.
Benets provided for deemed exports
Refunds are allowed of the GST paid on deemed exports. Typically, application for such refund is to be led in RFD01 by
the recipient of the supply. However, supplier can also le for the refund provided: recipient does not avail of input tax
credit on such supplies; and recipient furnishes an undertaking to the effect that the supplier may claim the refund.
Supplies qualifying as deemed exports
Prescribed documents / evidences required for ling the refund claim by a supplier
For Supplies against Advance Authorisation and EPCG Scheme:
Acknowledgment from jurisdictional ofcer of Advance Authorisation holder or EPCG holder that deemed export supplies
have been received. For Supplies against EOU Scheme: Duly endorsed tax invoice (under which supply was made) by EOU
recipient that supplies have been received.
21
• Undertaking from recipient that no input tax credit on such supplies have been availed by it;
• Undertaking from recipient that it will not seek refund in respect of such supplies and the supplier may claim the
refund particulars remarks
13. Audit
A. Audit Mandation by Law
Every registered dealer whose turnover during a nancial year exceeds the Rs 1 crore has to get his accounts audited
by a Chartered Accountant or a Cost Management Accountant. The dealer have to le audited returns along with
audited accounts and reconciliation statement
B. Audit by GST Tax Authorities
• The Commissioner of CGST/SGST (or any ofcer authorized by him) may conduct audit of a taxpayer. The
frequency and manner of audit is not notied yet.
• A notice will be sent to the auditee at least 15 days before.
• The audit will be completed within 3 months from date of commencement of the audit.
• The Commissioner can extend the audit period for a further six months with reasons recorded in writing.
Obligations of the registered dealer
The taxable person will be required to:
• provide the necessary facility to verify the books of account/other documents as required
• to give information and assistance for timely completion of the audit.
Findings of Audit
On conclusion of an audit, the ofcer will inform the taxable person within 30 days of:
• the ndings,
• their reasons, and
• the taxable person’s rights and obligations
If the audit results in detection of unpaid/shortpaid tax or wrong refund or wrong input tax credit availed, then demand
and recovery actions will be initiated.
Special Audit
The department may conduct a special audit due to the complexity of case and considering interest of revenue. The
Chartered Accountant or a Cost Management Accountant will be appointed to conduct the audit.
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When can a special audit be initiated?
The Assistant Commissioner may initiate special audit, considering the nature and complexity of the case and interest of
revenue. If he is of the opinion during any stage of scrutiny/enquiry/investigation that the value has not been correctly
declared or the wrong credit has been availed then special audit can be initiated.
Special audit can be conducted even if the tax payers books have already been audited before.
Who will order and conduct special audit?
The Assistant Commissioner (with the prior approval of the Commissioner) can order for special audit (in writing). The
special audit will be carried out by a chartered accountant or a cost accountant nominated by the Commissioner.
Time limit for special audit
The auditor will have to submit the report within 90 days. This may be further extended by the tax ofcer for 90 days on
an application made by the taxable person or the auditor.
Cost
The expenses for examination and audit including the auditor’s remuneration will be determined and paid by the
Commissioner.
Findings of special audit
The taxable person will be given an opportunity of being heard in ndings of the special audit.
If the audit results in detection of unpaid/shortpaid tax or wrong refund or input tax credit wrongly availed then demand
and recovery actions will be initiated.
14. Offences and Penal Provisions
There are 21 offences under GST Act . For easy understanding, we have grouped them asFake/wrong
invoices
1. A taxable person supplies any goods/services without any invoice or issues a false invoice.
2. He issues any invoice or bill without supply of goods/services in violation of the provisions of GST Act.
3. He issues invoices using the identication number of another bonade taxable person
Fraud
4. He submits false information while registering under GST Act
5. He submits fake nancial records/documents or les fake returns to evade tax
6. Does not provide information/gives false information during any proceedings
23
Tax evasion
7. He collects any GST but does not deposit with the government within 3 months
8. Even if he collects any GST in contravention of provisions, he still has to deposit it to the government within 3
months. Failure to do so will be an offence under GST Act.
9. He obtains refund of any CGST/SGST by fraud.
10. He takes and/or utilizes input tax credit without actual receipt of goods and/or services
11. He deliberately suppresses his sales to evade tax
Supply/transport of goods
12. He transports goods without proper documents
13. Supplies/transports goods which he knows will be conscated
14. Destroys/tampers goods which have been seized
Others
15. He has not registered under GST Act although he is required to do so by law
16. He does not deduct TDS or deducts less amount where applicable.
17. He does not collect TCS or collects less amount where applicable.
18. Being an Input Service Distributor, he takes or distributes input tax credit in violation of the GST rules
19. He obstructs the proper ofcer during his duty (for example, he create hindrance in the working of the ofcer during
the audit by tax authorities)
20. He does not maintain all the books that he is required to maintain under law
21. He destroys any evidence
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Type of offence Amount of penalty
Penalty for delay in ling GSTR Late fee is Rs. 100 per day per Act. So it is 100 under CGST & 100 under SGST.
Total will be Rs. 200/day. Maximum is Rs. 5,000. There is no late fee on IGST.
Penalty for not ling GSTR Penalty 10% of tax due or Rs. 10,000
– whichever is higher
Penalty for committing a fraud Penalty 100% of tax due or Rs. 10,000
– whichever is higher
(High value fraud cases also have jail term)
Penalty for helping a person to
commit fraud
Penalty extending upto Rs. 25,000
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Common Offences Under GST Act And Their Penalties Penalty for opting for composition
scheme even though he is not
eligible
Demand & recovery provisions of sections 73 & 74 will apply.
· Fraud case
Penalty 100% of tax due or Rs. 10,000
– whichever is higher
· Non-fraud case
Penalty 10% of tax due or Rs. 10,000
– whichever is higher
Penalty for wrongfully charging GST
rate— charging higher rate
Penalty 100% of tax due or Rs. 10,000
– whichever is higher
(if the additional GST collected is not submitted with the govt)
Penalty for not issuing invoice Penalty 100% of tax due or Rs. 10,000
– whichever is higher
Penalty for not registering under
GST
Penalty 100% of tax due or Rs. 10,000
– whichever is higher
Penalty for incorrect invoicing Penalty of Rs. 25,000
Situations where there is no penalty (but interest may apply)
GST has Capital punishments provision for high value fraud cases as followsTax
amount involved 100-200 lakhs 200-500 lakhs Above 500 lakhs
Jail term Upto 1 year Upto 3 years Upto 5 year
Fine In all three cases
Type of offence Action
Penalty for incorrect type of GST charged (IGST
instead of CGST/SGST)
No penalty. Pay the correct GST and get refund of the wrong
type of GST paid earlier
Penalty for incorrect ling of GSTR No penalty. But interest @18% on shortfall amount
Penalty for delay in payment of invoice. ITC will be reversed if not paid within 6 months.
No penalty as such
Penalty for wrongfully charging GST rate— charging
lower rate
Interest @18% applicable on the shortfall
15. HSN Code & GST Rate
Reference for HSN code and GST rate – For paper and Pulp industry kindly refer Chapter 48 & 49
CBEC Link for nding HSN code with GST rates – https://cbec- gst.gov.in/gst-goods-services-rates.html
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16. E-way bill
E-way bill is an electronic way bill for movement of goods which can be generated on the GSTN (common portal). A
‘movement’ of goods of more than Rs 50,000 in value cannot be made by a registered person without an e-way bill.
E-way bill will also be allowed to be generated or canceled through SMS.
When an e-way bill is generated a unique e-way bill number (EBN) is allocated and is available to the supplier, recipient,
and the transporter.
When should an e-way bill be generated?
E-way bill will be generated when there is movement of goods –
• In relation to a ‘supply’
• For reasons other than a ‘supply’ ( say a return)
• Due to inward ‘supply’ from an unregistered person
What is a ‘supply’ in case of an e-way bill?
For this purpose, a supply may be either of the following:
• A supply made for a consideration (payment) in the course of business
• A supply made for a consideration (payment) which may not be in the course of business
• A supply without consideration (without payment)
In simpler terms, the term ‘supply’ usually means a:
1. Sale – sale of goods and payment made
2. Transfer – branch transfers for instance
3. Barter/Exchange – where the payment is by goods instead of in money
Therefore, e-way bills must be generated on the common portal for all these types of movements.
Who can generate an e-way bill?
• E-way bill must be generated when there is a movement of goods of more than Rs 50,000 in value to or from a
Registered Person. A Registered person or the transporter may choose to generate and carry e-way bill even if the value
of goods is less than Rs 50,000.
• Unregistered persons or their transporters may also choose to generate an e-way bill. This means than an e-way bill
can be generated by both registered and unregistered persons. However, where a supply is made by an unregistered
person to a registered person, the receiver will have to ensure all the compliances are met as if they were the supplier.
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Who When Part Form
Every Registered person
under GST
Before movement
of goods
Fill Part A Form GST EWB-01
Registered person is
consignor or consignee
(mode of transport may be
owned or hired) OR is
recipient of goods
Before movement
of goods
Fill Part B Form GST EWB-01
Registered person is
consignor or consignee
and goods are handed
over to transporter of
goods
Before movement
of goods
Fill Part B The registered person shall furnish the information relating to
the transporter in Part B of FORM GST EWB-01
Transporter of goods Before movement
of goods
Generate e-way bill on basis of information shared by the
registered person in Part A of FORM GST EWB-01
An unregistered person
under GST and recipient
is registered
Compliance to be
done by Recipient
as if he is the
Supplier.
1. If the goods are transported for a distance of ten
kilometers or less, within the same State/Union territory
from the place of business of the consignor to the place of
business of the transporter for further transportation, the
supplier or the transporter may not furnish the details of
conveyance in Part B of FORM GST EWB-01.
2. If supply is made by air, ship or railways, then the
information in Part A of FORM GST EWB-01 has to be
lled in by the consignor or the recipient
Note: If a transporter is transporting multiple consignments in a single conveyance, they can use the form GST EWB-02 to produce a
consolidated e-way bill, by providing the e-way bill numbers of each consignment. If both the consignor and the consignee have not
created an e-way bill, then the transporter can do so by lling out PART A of FORM GST EWB-01 on the basis of the invoice/bill of
supply/delivery challan given to them.
Can e-way bills be used during return ling?
Yes. The information provided in Part A of the Form GST EWB-01 can be used for preparing GSTR-1.
What is the validity of an e-way bill?
An e-way bill is valid for periods as listed below, which is based on the distance traveled by the goods. Validity is
calculated from the date and time of generation of e-way bill.
List of People Who Can Generate an E-Way Bill
27
Abhipra
Distance Valid from Valid for
Up to 100km Date & time at which e-way bill is generated 1 day
For every 100 km after that Date & time at which e-way bill is generated An extra day
Nationwide E-way Bill shall come into force from 1st April 2018
28
Abhipra
GST Suvidha Provider
Abhipra
29
Some Other Important Key Points
A. Who is a Principal?
As per the denition provided in the GST law, the term “Principal” means a person on whose behalf an agent carries
on the business of supply or receipt of goods or services, or both. For instance, a dealership store of an automobile
company is an excellent example of Principal-Agent relationship.
B. Who is a Pure Agent?
Pure Agent means a person who:
(a) enters into a contractual agreement with the recipient of supply to act on their behalf and incur expenditure or
costs in the course of supply of goods or services or both;
(b) neither intends to hold nor holds any title to the goods or services (or both) procured on behalf of or provided to
the recipient of supply;
(c) does not use the goods or services so procured for his own interest; and
(d) receives only the actual amount incurred to procure such goods or services.
C. Types of Electronic Ledgers
E-Cash Ledger:
This ledger will serve as an electronic wallet. Where, the taxpayer needs to make any payment such as tax, interest,
penalty etc and he does not have enough credit in his E-Credit ledger, he will have to simply add money to the wallet
and the money will be utilized to make the payment.
This ledger will basically reect all the deposit made in cash using various modes.
E-Credit Ledger:
The input tax credit that is self-assessed in the monthly returns will be reected here under three categories i.e IGST,
CGST & SGST. The taxpayer will be able to utilize the balance shown in this account only for payment of tax as per
the credit utilization rules and no other amount such as interest, penalty etc.The E-Credit ledger will show the input
credit under the three major tax heads namely IGST, CGST & SGST.
E-Liability Ledger:
This ledger will show the total tax liability of a taxpayer after netting off for the particular month. This ledger will be
auto populated.
Abhipra
30
1
8
15
22
29
2
9
16
23
30
3
10
17
24
31
4
11
18
25
5
12
19
26
6
13
20
27
7
14
21
28
GST Obligations – Calendar
GSTR-1
(Outward supply details)
GSTR-7
(TDS returns)
MONTHLY
GSTR-6
(Returns by ISD)
MONTHLY
GSTR-2
(Inward supply details)
MONTHLY
GSTR-4
(Composite dealer
returns #)
MONTHLY
GSTR-3
(Periodic Returns)
MONTHLY
GSTR9
(Annual return*)
MONTHLY
* Annual return is required to be filed before 31 December of the
subsequent year.
# Quarterly return is applicable to assessees opted for compounding
scheme. The same is to be filed within 18 days of the end of the
quarter.
Important – Dates for Quarterly return for SMEs is yet to be notified
Abhipra
OUR SERVICES
GST Suvidha Provider (GSP)
Depository Participant with NSDL, CDSL
Member: National Stock Exchange, Bombay Stock Exchange
Category I SEBI Approved Registrar and Transfer Agent
Aggregator & POP with Pension Pension Fund
Regulatory and Development Authority (PFRDA), (NPS)
UIDAI Empaneled Aadhar Enrolment Agency
Corporate Business Correspondence with Bank of India,
Gramin Bank of Aryavart
Office Automation Softwares,
Customized Software Development
Investment Advisor
Contact us
Registered Office : GF-58-59, World Trade Centre,
Barakhamba Lane, Connaught Place, New Delhi-110001,
Ph. : 91-11-23414629, 23414503
Corporate Office : A-387, Dilkhush Industrial Area, G.T. Karnal Road, Azadpur,
Delhi-110033, Ph. : 91-11-41411130, 7428396205 Telefax: 91-11-42390930
• website: www.abhipra.com • e-mail: gst@abhipra.com, info@abhipra.com • CIN: U74899DL1994PLC061802
Abhipra

Dear Members,

 

With continuation our earlier email dated 23rd October 2017 inter alia enrolling members for Vietnam Tour.

 

We like to inform you, the following quota for flying has been allotted for the delegates.

 

Mumbai Airport :10 delegates

Chennai airport : 10 delegates

Delhi Airport :10 delegates

Hyderabad Airport :10 delegates

Bangalore Airport: 02 delegates

Kolkata Airport : 02 delegates

 

Please note that the other states delegates will be adjusted in the above Airport wise quota’s for e.g. if Mumbai Airport has 10 quota’s, Ahmedabad, Surat, Baroda, Rajkot delegates will adjusted in the above quota (i.e. 6+4 or 5+5 etc.) for overall state representation and same will conveyed to the respective local associations to adjust accordingly.

Final list will be send by the Convener, International Trade Committee, Shri. Shekhar Chandak.

 

This is for your information and necessary action.

 

Regards

For FPTA

Hiren Karia

Hon. Secretary

Contents

 

                                                                      

  • Income Tax

 

  • Goods & Service Tax (GST)
  1. 3. International Law

 

 

  1. FEMA

 

  1. Company Law

 

        

 

 

 

 

 

 

 

 

 

 

 

 

Income Tax

 

Direct Tax Collections for F.Y. 2017-2018 show Growth of 15.8% up to September, 2017

According to CBDT press release dated 17th October 2017, the provisional figures of Direct Tax collections up to September, 2017 show that net collections are at Rs. 3.86 lakh crore which is 15.8% higher than the net collections for the corresponding period of last year. Net Direct Tax collections represent 39.4% of the total Budget Estimates of Direct Taxes for F.Y. 2017-18 (Rs. 9.8 lakh crore). Gross collections (before adjusting for refunds) have increased by 10.3% to Rs. 4.66 lakh crore during April to September, 2017. Refunds amounting to Rs.79,660 crore have been issued during April to September, 2017.

 

An amount of Rs. 1.77 lakh crore has been received as Advance Tax up to 30th September, 2017 reflecting a growth of 11.5% over the Advance Tax payments of the corresponding period of last year. The growth in Corporate Income Tax (CIT) Advance Tax is 8.1% and that in Personal Income Tax(PIT) Advance Tax is 30.1%.

(Source : http://www.incometaxindia.gov.in/)

 

I-T department goes after defunct companies for tax frauds

The tax office is reopening old records of many companies that have wound up and no longer exist in the books of the government — something the revenue department has rarely done in the past. Former directors of such closely-held private companies, which have received tax notices along with the official liquidators, fear they could be suddenly saddled with unforeseen liabilities. While opening new private companies and shutting down old ones have often been a ploy to move unaccounted money, some of the companies set up to carry out bona fide businesses which subsequently failed have also come under the glare of the income tax department. Till now, the department has typically stayed away from companies to which it had issued non-objection certificate prior to the winding process. But, it’s well within the law and powers of the tax office to review an old tax assessment if there is suspicion of tax fraud.

 

(Source : http://economictimes.indiatimes.com/news/economy/policy/i-t-department-goes-afterdefunct-companies-for-tax- frauds/article show/60724618.cms)

 

Tax department to engage with corporates to spur receipts

Amid slowing growth in advance tax collections; the income-tax department is exploring enhanced engagement with the top 100 companies to facilitate compliance. A committee set up under the direct tax department to review assessment and scrutiny has identified “taxpayer segmentation” to improve collections. “The idea is to provide differential treatment to big taxpayers as they make up for the bulk of the revenue collection. The tax department is, after all, a 30 per cent stakeholder in corporate sector earnings. Stepping up engagement with them will help the department and the companies,” said a government official. The idea is to have a dedicated tax officer who will act as a one-point contact, keeping a close watch on a company’s quarterly results or performance, facilitating advance tax filing and helping estimate earnings for advance tax computation.

 

(Source:http://www.business-standard.com/article/economy-policy/worried-tax-department-to-engagewith-big corporates- to-spur-collections-117100301369_1.html)

 

Income Tax department fastens belt to add 1.25 crore new ITR filers this fiscal

The Income Tax Department has been tasked to add 1.25 crore new return filers in the current financial year as part of the government’s plan to widen the tax base in the country. The Central Board of Direct Taxes (CBDT), that makes policy decisions for the I-T department, has directed the taxman to undertake “focused efforts to significantly increase the tax base in the current financial year of 2017-18.” The target, the CBDT directive accessed by said, is to add 1.25 crore new I-T return filers. A new I-T return filer is defined as a person who has not filed return in the previous years but is liable to do so under the law. The taxman has to add such entities and get them do the filing of their I-T returns.

(Source: https://economictimes.indiatimes.com/news/economy/policy/income-tax-department-fastensbelt-to-add-1-25-crore- new-tax-filers-this-fiscal/article show/60867712.cms)

 

CBDT proposes self reporting for advance tax payment:

The central board of direct taxes (CBDT) has proposed a self-reporting mechanism for reporting estimates of current income, tax payments and advance tax liability by taxpayers who are required to get their account audited under the Income Tax Act, 1961 on a voluntary compliance basis. According to the draft rules, a taxpayer needs to furnish an intimation of estimated income and payment of taxes as on September 30 of the previous year, on or before November 15 of the previous year in the newly proposed form. Further, if the income estimated as on September 30 of the previous year is less than the income of the corresponding period of the immediately preceding previous year by an amount of Rs 5 Lakh or 10%, whichever is higher, then the assessee will be required to explain the reasons for the same by January 31 of the previous year, the CBDT said.

 

(Source: http://www.financialexpress.com/economy/cbdt-proposes-self-reporting-for-advance-tax-paymentall-you-need- to-know/862557/)

 

I-T self-assessment filings under lens

The income-tax (I-T) department is suspecting that taxpayers are understating their advance tax liabilities under self-assessment in the early quarters of the year and showing them as tax on additional income or windfall gains at the end of the financial year. Tax officials have sought an explanation from several corporates and individuals who have filed their self-assessment in the last three years, according to sources.

 

(Source: http://www.business-standard.com/article/economy-policy/i-t-self-assessment-filings-underscanner-117092400570_1.html)

 

Conduct of Assessment Proceedings electronically in time barring scrutiny cases Order under section 119 of the Income-tax Act, 1961 (’Act’)

As a part of Government’s initiative towards E-governance, Income-tax Department has brought digital transformation of its business processes to a significant extent through the Income-Tax Business Application (lTBA) project which provides an integrated platform to conduct various tax proceedings electronically through the ‘e-Proceeding’ facility available on it. As a digital platform for conduct of scrutiny assessment proceedings in an end to end manner is now available, CBDT has decided to utilize it in a widespread manner for conduct of proceedings in scrutiny cases. This Order covers various aspects of conducting scrutiny assessments electronically in cases which are getting barred by limitation during the financial year 2017-2018.

 

(Source: https://incometaxindiaefiling.gov.in/eFiling/Portal/StaticPDF_News/Instruction08-2017.pdf)

 

TDS on interest on deposits made under the Capital Gains Accounts Scheme, 1988 where the depositor has deceased

 

It has been brought to the notice of CBDT that in cases of deceased depositor who has made deposits under the Capital Gains Accounts Scheme, 1988; the banks are deducting TDS on the interest earned on such deposits in the hand of the deceased depositor and issuing TDS certificates in the name of the deceased depositor, which is not in accordance with the law. Ideally in such type of situations, the TDS certificate on the interest income for and up to the period of death of the depositor is required to be issued on the PAN of the deceased depositor and for the period after death of the depositor is required to be issued on the PAN of the legal heir.

(Source:https://incometaxindiaefiling.gov.in/eFiling/Portal/StaticPDF_News/notification8_2017_tds.pdf)

 

Processing of returns in Form ITR-1 under section 143(1) of the Income-tax Act, 1961- applicability of section 143(1)(a)(vi)

 

Clause (vi) of sub-section (a) of section 143(1) of the Income-tax Act, 1961 (’Act’) as introduced vide Finance Act, 2016, w.e.f. 01.04.2017, while processing the return of income prescribes that the total income or loss shall be computed after making adjustment of addition of income appearing in Form 26AS or Form 16A or Form 16 (the three Forms) which has not been included in computing the total income in the return.

(Source:https://incometaxindiaefiling.gov.in/eFiling/Portal/StaticPDF_News/Instruction-9- 11-10-2017.pdf)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

GST (Goods & Service Tax)

 

Clarification on issues related to furnishing of Bond / Letter of Undertaking (LUT) for exports:

A fresh Notification No. 37/2017 – Central Tax dated 4th October, 2017 has been issued which extends the facility of LUT to all exporters under rule 96A of the Central Goods and Services Tax Rules, 2017. Further CBEC has issued a consolidated circular providing clarity on the procedure to be followed for export under bond/LUT.

Eligibility to Export under LUT:

The facility of export under LUT has been now extended to all registered persons who intend to supply goods or services for export without payment of integrated tax except those who have been prosecuted for any offence under the CGST Act or the Integrated Goods and Services Tax Act, 2017 or any of the existing laws and the amount of tax evaded in such cases exceeds two hundred and fifty lakh rupees.

Validity of LUT:

The LUT shall be valid for the whole financial year in which it is tendered. Withdrawal of LUT Facility: In case the goods are not exported within the time specified in sub-rule (1) of rule 96A of the CGST Rules and the registered person fails to pay the amount mentioned in the said sub-rule, the facility of export under LUT will be deemed to have been withdrawn.

Restoring the LUT Facility :

If the amount mentioned in the said sub-rule is paid subsequently, the facility of export under LUT shall be restored. As a result, exports, during the period from when the facility to export under LUT is withdrawn till the time the same is restored, shall be either on payment of the applicable integrated tax or under bond with bank guarantee.

Form for bond/LUT:

Till the time FORM GST RFD-11 is available on the common portal, the registered person (exporters) may download the FORM GST RFD-11 from the website of the Central Board of Excise and Customs (www.cbec.gov.in) and furnish the duly filled form to the jurisdictional Deputy/Assistant Commissioner having jurisdiction over their principal place of business.

Self-declaration:

Self-declaration to the effect that the conditions of LUT have been fulfilled shall be accepted unless there is specific information otherwise. That is, self-declaration by the exporter to the effect that he has not been prosecuted should suffice for the purposes of Notification No. 37/2017- Central Tax dated 4th October, 2017. Verification, if any, may be done on post-facto basis.

Time for acceptance of LUT/Bond:

As LUT/Bond is a prior requirement for export, including exports to a SEZ developer or a SEZ unit, the LUT/bond should be processed on top most priority. It is clarified that LUT/bond should be accepted within a period of three working days of its receipt along with the self-declaration by the exporter. If the LUT / bond is not accepted within a period of three working days from the date of submission, it shall deemed to be accepted.

Bank guarantee:

Since the facility of export under LUT has been extended to all registered persons, bond will be required to be furnished by those persons who have been prosecuted for cases involving an amount exceeding Rupees two hundred and fifty lakhs. A bond, in all such cases, shall be accompanied by a bank guarantee of 15% of the bond amount.

(Notification No. 37 /2017-Central Tax and Circular No. 8/8/2017- dated 4th October, 2017)

Highlights of Recommendations made by the GST Council in the 22nd Meeting at New Delhi on 6th October 2017

 

  • The composition scheme shall be made available to taxpayers having annual aggregate turnover of up to Rs. 1 crore as compared to the current turnover threshold of Rs. 75 lacs.
  • To facilitate the ease of payment and return filing for small and medium businesses with annual aggregate turnover up to Rs. 1.5 crores, it has been decided that such taxpayers shall be required to file quarterly returns in FORM GSTR-1,2 & 3 and pay taxes only on a quarterly basis, starting from the third Quarter of this Financial Year i.e. October-December, 2017 • The due dates for filing the quarterly returns for such taxpayers shall be announced in due course. Meanwhile, all taxpayers will be required to file FORM GSTR-3B on a monthly basis till December, 2017.
  • All taxpayers are also required to file FORM GSTR-1, 2 & 3 for the months of July, August and September, 2017.
  • The reverse charge mechanism under sub-section (4) of section 9 of the CGST Act, 2017 and under subsection (4) of section 5 of the IGST Act, 2017 i.e. Reverse Charge on Goods / Services received from unregistered person, shall be suspended till 31.03.2018
  • It has been decided that taxpayers having annual aggregate turnover up to Rs. 1.5 crores shall not be required to pay GST at the time of receipt of advances on account of supply of goods. The GST on such supplies shall be payable only when the supply of goods is made.
  • The e-way bill system shall be introduced in a staggered manner with effect from 01.01.2018 and shall be rolled out nationwide with effect from 01.04.2018
  • The last date for filing the return in FORM GSTR-4 by a taxpayer under Composition Scheme for the quarter July September, 2017 shall be extended to 15.11.2017
  • The last date for filing the return in FORM GSTR-6 by an Input Service Distributor (ISD) for the months of July, August and September, 2017 shall be extended to 15.11.2017.
  • GST rates on few goods have been recommended to be reduced.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

International Tax

 

Overseas taxes and Medicare would not constitute taxable salary in India

It is not uncommon to see organizations send employees outside India on a short and long term basis. In such cases, these employees could receive a salary both within and outside India. In this context, based on the facts and in the circumstances of the case, recently the Bangalore Bench of the Income-tax Appellate Tribunal in the case of Shri Sunil Shinde has held that overseas taxes and Medicare would not constitute a taxable salary in India, while offering overseas salary to tax in India.

This decision could provide relief to resident individuals who travel outside India where the foreign taxes are paid by the employer. The decision has restated that any perquisite provided by the employer, the benefit of which has not vested at the time of contribution, should be considered as exempt.

(Shri Sunil Shinde v. CIT (ITA No 2149 (Bang) 2016) – Taxsutra.com)

CBDT prescribes procedure for filing statement of income from a country or specified territory outside India and foreign tax credit

 

In 2016, Central Board of Direct Taxes (CBDT) issued Foreign Tax Credit (FTC) rules for providing mechanism/procedure to claim FTC in India. As per the Rules, the statement in Form 67 and the certificate or the statement specifying the nature of income and the amount of tax deducted shall be required to be furnished for the claim of FTC.

 

Recently, the CBDT has issued a Notification, prescribing procedure for filing a statement of income from a country or specified territory outside India and FTC. Introduction of the procedure for filing statement of income online to claim FTC is a significant step towards the use of electronic communication for paperless statements / forms. This procedure will provide a hassle free environment to claim credit on tax paid in foreign countries. (CBDT Notification No. 9/2017 dated 19 Sept 2017)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FEMA

Export Data Processing and Monitoring System (EDPMS) – Issuance of Electronic Bank Realization Certificate (eBRC)

The Authorized Dealer Category-I (AD Category-I) banks were earlier advised to carry out appropriate changes in their IT system / operating procedure to report subsequent export transactions in EDPMS and also capture the details of advance remittances (including old outstanding inward remittances) received for exports in EDPMS.

 

Now the AD Category-I banks are directed to update the EDPMS with data of export proceeds on “as and when realized basis” and, with effect from October 16, 2017 generate Electronic Bank Realization Certificate (eBRC) only from the data available in EDPMS, to ensure consistency of data in EDPMS and consolidated eBRC.

 

(RBI/2017-18/57 A. P. (DIR Series) Circular No. 04 dated September 15, 2017)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Company Law

MCA circular 10/2017 dated 13th September 2017 – Clarification regarding obligation with the Indian Accounting Standards (Ind AS) and Rule 4 of Companies (Indian Accounting Standards) Rules 2015–payment banks, small finance banks which are subsidiaries of Corporates

 

MCA has clarified that where the holding company in respect of subsidiaries which are payment banks or small finance banks, shall follow Ind AS per the corporate sector roadmap. The subsidiaries which are payment banks or small finance banks shall follow the banking sector roadmap stipulated by RBI.

 

For complete text of the notification, please refer the link:

http://www.mca.gov.in/Ministry/pdf/ CompaniesIndianAccountingStandardsGSR365E_14092017. Pdf

 

MCA Notification SO 2751(E) dated 24th August 2017 – Commencement of sub-sections (8) to (10) of section 212 of Companies Act 2013

 

The Government has notified 24th day of August, 2017 as the date on which the provisions of sub- sections (8), (9) and subsection (10) of section 212 of the said Act shall come into force. These provisions deal with various provisions related to the Serious Fraud Investigation Office (SFIO).

 

For complete text of the notification,

please refer the link: http://www.mca.gov.in/Ministry/pdf/Commencementnotification_25082017.pdf

 

BRIEF REPORT OF INAUGURATION FUNCTION & DRAFT MINUTES OF 56TH AGM/CONFERENCE OF FPTA HELD AT HOTEL GRAND ITC CHOLA, CHENNAI FROM 12th TO 14th AUGUST 2017.

 

The 56th Annual General Meeting and Conference of FPTA was held at Hotel Grand ITC Chola, Chennai from 12th to 14th August 2017 organized and hosted by Madras Paper Merchants’ Association, Chennai. The list of delegates and the invited former Presidents who recorded their presence is given in the Annexure.

 

Inaugural ceremony – Highlights

The ceremony began at 3.00 pm on 12th August 2017. The Master of Ceremony welcomed the members.

Chief Guest, Shri Nirmala Sitharaman, Hon’ble Union Minister of Commerce and Industry, Minister of State (Independent Charge), Shri. Sanjay Singh, CEO-ITC Ltd., (Paper and Specialty Paper Division), Shri. N. Gopalaratnam, Chairman, M/s. Seshasayee Paper and Boards Ltd., Shri. Saurabh Bangur, Vice Chairman, The West Coast Paper Mills Ltd., President, IPMA, Shri Shamji Karia, President, FPTA. Shri A. Annamalai (Venkat) FPTA Nominee President, Shri. C. Balasubramanian, FPTA Immediate Former President, Shri Shekhar Chandak, Chairman Reception Committee, MPMA, Chennai, Shri. A. Murugan, President, MPMA, Chennai, Shri. RM Veerappan, Hon. Secretary, MPMA, Chennai, Shri. A. Natesan, Chairman Finance Committee MPMA, Chennai,   and other dignitaries on the dais lighted the ceremonial lamp which was followed by the recital of prayer.

 

Bouquets and mementos were presented to the Chief Guest and Guests of Honour and members present on the dais.

Shri Shekhar Chandak, Chairman Reception Committee welcomed the Delegates and Dignitaries and thanked FPTA for giving them an opportunity for hosting the meeting at Chennai. He highlighted the significance of his association MPMA, Chennai and Chennai state.

 

Shri Shamji Karia, FPTA President welcomed the Chief Guest and dignitaries on the dais, congratulated MPMA, Chennai for holding this conference and proceeded with his speech: Welcome all to the 4th largest, 36th globally state, having historic significance, the service and manufacturing hub Chennai. On 24th SEPTEMBER 2016, it became my life’s most memorable day, wherein I was bestowed with Presidentship of FPTA. The day I took over the helms and responsibilities as a President of a very prestigious and highly regarded organization. I express my hearty gratitude to ‘THE PAPER TRADERS ASSOCIATION MUMBAI to nominate me for this coveted post.

We trader’s welcome the steps taken by Govt. of India  whether it was for demonetization of currency notes of Rs 1000 & Rs 500, though this notification had a widespread adverse impact on other industries, paper industry being organized had a minimal impact. Implementation of Goods & Services tax (GST) from 1st July 2017, “ONE NATION ONE TAX this is an entirely new tax system”.  I must say we all will have to change our approach towards the business. FPTA has taken continuous efforts to minimize the tax slab for PAPER & ALLIED products. Friends this year FPTA has been able to bridge relations with IPMA, Agro & Waste Papers Manufacturers Association and News Print Manufacturer Association. This was a milestone achievement. A joint meeting was organized, wherein there were healthy discussions to increase Public Awareness on paper usage, and also to create a Paper Day. A joint committee was formed towards common goals and I hope in coming days, we move ahead on this subject. I thank Shri. Satyapal Gupataji, Shri. R. C. Guptaji for taking initiative on Paper Day and Public Awareness with Mills Associations and guiding me whenever needed. I thank my associations specially the Ahmedabad and Kanpur for hosting the 2nd & 3rd Managing committee meetings respectively, on short span of time. During the year I had opportunity to visit traders associations of Delhi, Mumbai, Ahmedabad, Hyderabad, Nagpur, Pune, Noida, Meerut, Lucknow, Kanpur, Rajkot, Baroda, Surat, Vijayawada, Kolkata, West Bengal & Ors. I wish to personally thank all members and office bearers of respective associations for inviting me. I wish to specially thank Shri. Hiren Karia for most precise management of FPTA Secretariat , I have to also appreciate the good work done in Office Secretariat by Shri. Manish Shirsat and his colleagues. I also thank the immediate former Presidents Shri C. Balasubramanian, Shri. Arvind Sharma for their valuable guidance, I wish to express my sincere thanks to the Vice Presidents, Hon. Treasurer, Conveners of Sub Committees for their utmost cooperation. I wish a grand success of the AGM & Congratulate Shri. A. Annamalai (Venkat) the president elect for  2017-2018 and I hope he continues with effective implementation of Paper Day & Public Awareness Program in conjunction with IPMA & other associated paper mills.

Shri. Sanjay Singh, CEO-ITC Ltd., (Paper and Specialty Paper Division) welcomed all the dignitaries on dais as well as the other delegates.  He said there are three sources of raw material which paper is made wood, recycle paper, agro based and all are recyclable as people say industry cut the trees but every tree we cut we are planting two more trees, creating green belt. Paper Industry is creating jobs for the farmers in rural area also stopping migration to the urban area, initiative is been taking for segregate of waste management in different part of country.

 

Shri. N. Gopalaratnam, Chairman, M/s. Seshasayee Paper and Boards Ltd., He welcomed all the dignitaries on the dais and off the dais and shared his views. He highlighted the environmental and socially sustainable nature of paper and its manufacturing process. While expansion of electronic media has hit paper use in countries such as the US, there are opportunities in rapidly growing markets such as Mexico, Colombia, South Africa and Turkey, apart from India, where a growing middle class population is driving demand for paper. With well managed plantations, the industry is wood neutral and carbon neutral.

 

Shri. Saurabh Bangur, Vice Chairman, The West Coast Paper Mills Ltd., President, IPMA. welcomed and thanked all members and delegates gathered from the trade and industry, He said it is special moment addressing for 1st time trade fraternity FPTA, Trade is very important part of any business connect, without trade entire cycle would be incomplete, trade body knows the specific performance of the Industry as they are deeply connected and linked to the ground level of the market, He addressed the audience on topic of paper industry opportunity and challenges saying growing imports have killed the industry’s enthusiasm for investments and expansion. Paper from South East Asia is made from raw material available at less than half the cost that Indian units shell out. The government should consider allocating at least 10 per cent of the estimated 29 million hectares of degraded forest land for paper manufacturers to raise pulp wood plantations. Securing raw material resources is critical for long term sustainability and encourage additional investments,

 

Shri Nirmala Sitharaman, Hon’ble Union Minister of Commerce and Industry, Minister of State (Independent Charge):  The Government is open to take an objective look at the paper industry’s demand for safeguard duty on imports and consider a viable model for allocating land for pulp wood plantations, responding to the industry’s demand for safeguard duty on imports from ASEAN countries, the Minister said while the FTA has opened up the domestic market to imports, the industry is also benefiting from cheap import of raw materials. On land for raising pulp wood plantations, she said the paper manufacturers should talk to the State governments and the Centre and come up with a model that will augment farmers’ income. The earlier practice of raising babul tree, she claimed damaged the ecology, resulting in the vanishing of birds and wondered if this had helped the farmers who raised the trees in any way. Hence, the paper manufacturers should to reformulate business models and make use of degraded land to plant trees that can be availed as raw material by the industry. “It is a very critical industry. You have to make contribution to the country. Paper manufacturers have to reformulate yourself, give farmers who hold degraded land some return and ensure you have constant supply of raw material; the industry should work out a solution on replacing plastics in packaging rather than worrying about the space taken away by electronic mode of communication

SOUVENIR

President, Shri Sanjay Bangur released the souvenir. Shri R. Muthu Krishnan, Chairman of the Souvenir Committee presented the copies of the Souvenir to the dignitaries on the dais.

 

The Rasiklal B Parikh Award was presented to Shri Shamji Karia for his meritorious service as President at the hands of Guest of Honour Shri. N. Gopalaratnam.

 

Late Shri Haresh Chand Memorial Lecture Award: Seminar on Social Media and Digital for Paper Trade Industry was organized by the MPMA, Chennai. Prominent speaker was Shri. Krupa Shankar. Later on Talk Show on Paper Trader is Partner or Financer was also arranged, Moderator Shri P. Sreedhar conducted and Shri. Kasi Vishwanathan, Shri. Sandeep Bhargava, Shri. Mohit Jain and Shri. Jayesh Savla participated in this event.

 

Shri Rajeev Agarwal, Past President presented Shri Shri P. Sreedhar with the Late Shri Hareshchand Agarwal Memorial Lecture Award (Agra) for an informative and well conducted event.

 

ANNUAL GENERAL MEETING

BUSINESS SESSION

 

President Shri Shamji Karia welcomed the delegates to the Conference. The following proceedings commenced in line with the Agenda.

 

1    To confirm the minutes of the 55th Annual General Meeting and Conference held at       Hotel Grand Hyatt, Mumbai from 23rd to 25th September 2016 (Circulated vide Circular no. 03/56/2016-17 dtd. 02/12/2016).

 

As there were no comments the house confirmed the minutes of the meeting unanimously.

      Proposed by: Shri Arun Sundariya, Howrah

Seconded by: Shri Yatin Modi, Mumbai

 

2    Approved and adopted the Audited Accounts for the year ended 31st March 2017.

As there was no further discussions the house passed audited accounts unanimously.      

Proposed by: Shri Guman Singh Rajpurohit, Bangalore

Seconded by: Shri Santi Kumar Jain, Delhi

 

  1. Approved and adopted the Annual Report for the year 2016-17.

Proposed by: Shri Anil Gupta, Delhi

Seconded by: Shri Subrata Sen, Kolkata

 

  1. Appointing auditors for Accounting year 2017-18 or up to the conclusion of the next AGM and fixing their remuneration.

            It was unanimously decided to re-appoint the present Auditors M/s. HSMP & Associates LLP, Chartered Accountants, Mumbai for the year 2017-18 empowering Mumbai Office Bearers and Managing Committee to fix the remuneration.

Proposed by: Shri Narayan Bang, Secunderabad

Seconded by: Shri Gian Prakash Gupta, Delhi

 

  1. Reports from Advisory Board, Vice Presidents and Conveners of Sub-Committees in brief.

Hon. Secretary informed that the reports have been already printed in annual report and also circulated to the members, if any member wants to ask any questions can ask to the Vice Presidents in context of the activity reports. Shri. Gopal Saha, Kolkata, Shri. A. Annamalai (Venkat), Chennai, Shri. Ramesh Chand Jain, Delhi, Shri. B. Uttamchand Jain, Bangalore, Shri. Vishnukant Rathi, Secunderabad, Shri. Sanjay Jain, Meerut, Shri. Dipesh Ladda, Vadodara. presented bullet points of their report. Shri Hari Prasad Goenka from Howrah was not present in the meeting due to avoidable circumstances was on leave.  There were no comments from members.

 

Shri. A. Natesan, Convener Industry Affairs shared his meeting details with mills association on celebrating Paper Day and also to educate the society that Paper Industry does not spoil the environment. FPTA has put forward various dates for declaring and celebrating PAPERS DAY in the meeting. Paper Day date will be discussed with the industry and to celebrate it all over the country, the date announcement will be done during the PAPEREX exhibition on 1st November at Delhi.  All Affiliated Associations should celebrate in its jurisdictions involving School and Colleges along with paper mills association. Regarding funds we have shared views that Companies are legally bound to spend a portion of their income under Corporate Social Responsibility (CSR), the funds are available every year. Paper manufacturers can contribute a portion of the CSR funds towards this initiative, without impacting their routine plans, Industrial Cess. Hence forth all contribution would be for Paper Day. Paper is unique let us share the great stories of paper.

 

Shri Satyapal Gupta, Convener of Committee of Assocham & FICCI mentioned that his report is already published in Annual Report, He told members to be ready for digital business, traders should scrutinize the customer before deal, Members were reported on meeting had with Mills association on public awareness and celebrating paper day, which will be announced during PAPEREX and invited all to participate in this event at Delhi, Mills Associations representative has been invited for further discussion on this event and planning at Paper Merchants Association (Regd.), Delhi office on 19th August 2017, the details will be shared to members.

Members suggested and requested Shri. Satyapal Gupta to discuss with industry to celebrate PAPER DAY on 1st August.

 

Shri Rajkumar Bindal, Convener of CAIT and Govt. Affairs highlighted the work carried out at CAIT. Any trade representation should be forwarded through Convener of Govt. Affairs and CAIT

 

Shri Gian Prakash Gupta, Convener, Committee for Consumer Relations and Arbitration emphasized importance of Consumer Grievances and Arbitration to the present members.

 

Shri Ravi Rathi, Committee for Public Awareness accentuated various activities carried out by his committee.

 

Shri. Nirmal Kuhad, Convener for Social Media and Website Committee highlighted the events carried out. He mentioned the website is functioning and member’s involvement is essential for its updating. Members shared few suggestions. Nirmalji positively assured to do the needful. Mobile App will be inaugurated by Chief Guest and any suggestion/query will be sorted out by the technician immediately or later on.

 

Shri. Sandeep Bhargava reported the BIS meeting carried out and its outcome. He informed the house that only authorized members should make its representation of FPTA.

 

Shri A. Venkat, Convener of Committee for GST: A GST Q&A session by a consultant is conducted later in the evening to answer the members trade problems faced.

 

Shri Arvind Sharma, Chairman, Advisory Board: He gave details of the five awards that are to be put to rest from 2017-18. He informed that the due process of sending request to the old sponsors to increase the amount to Rs. 1 Lakh is completed. Shri Arvind Sharma also informed the house that the Advisory Board has received two applications along with (non-refundable) cheques of Rs 5 Lakhs each. He put the suggestions of the Advisory Board before the house for their approval.

 

Shri D. P. Saboo Award: The name of the award henceforth- will be Shri CHANDRAKANT DHANJI ZALANI (Babu Bhai) Award and will be awarded to an affiliated association for rendering outstanding services to its members and trade.

 

Shri Rasiklal B Parikh Award: Henceforth the award- will be known as SHAMJI R KARIA M/S T. K. RUBY & Co Award and will be awarded for meritorious services rendered by the President of FPTA.

 

Shri K. C. Daga Award: The sponsor gave his consent to- increase the amount to Rs 1 Lakh. The award is to be continued.

 

Shri Badluram Gupta Award: The sponsor gave his- consent to increase the amount to Rs 1 Lakh. The award is to be continued.

 

Shri Jayantilal Shah Award: The secretary informed- that the sponsor refused to increase the amount. It was decided that if any application comes it will be decided on merit basis. The minimum amount would be Rs 5 Lakhs non-refundable.

 

It was felt that there is some ambiguity in the criteria of certain awards and some guidelines should be there for the judges who are members of the committees formed to give awards. A review committee headed by Shri Balasubramanian was formed consisting of Shri Krishnendu Bhattacharjee, Shri A Natesan, President Shri A Annamalai (Venkat), and Honorary Secretary, as members.

 

Arrangements for Delhi PaperEx and follow-up of protocols –Delhi Paper Merchants’ Association requested to take care of the same. Shri Satyapal Gupta assured of all help needed in this regard.

 

The deposit amounts of rewards that are going to be put to rest from 2017-18 may be transferred to Public Awareness promotions, if required.

 

The Advisory Board appreciated the efforts put in by Shri Nirmal Kuhad for the launch of FPTA App and suggested that the house in the AGM be requested to fix the charges for main advertisements in the app as Rs 25,000 and for the sub-category advertisements as Rs 10,000 on a trial basis for the first 6 months.

 

The Advisory Board felt that the affiliated associations should be educated to include Managing Committee members as delegates in accordance with the guidelines of FPTA. This will also avoid hardships to the host association.

 

The members unanimously approved the suggestions presented by the Advisory Board.

 

  1. To Launch FPTA Mobile APP.

The Hon’ble Minister Smt. Nirmala Sitaraman unveiled mobile application developed by Sri. Nirmal Kuhad, Convener Social Media and Website.

 

  1. To approve and finalise FPTA Mobile APP Tariff and Existence

The house was explained mobile app by the technician and its existence. The house passed the mobile app tariff for 6 months period and to be revived unanimously.

 

  1. To discuss the current situation in paper trade. Every affiliated association was requested for at most two representatives to voice their needs and recommendations.

There were discussions on all important issues burdening the traders: Compliance on GST return filling, etc. Impact after demonetization, it was felt that we all should work together and maximum care to be taken in our trading activities. Water scarcity in south region for paper production, increased of financial involvement, on positive note recovery cell in Howrah is very active, explained status on arbitration of jurisdiction is different in all states, association’s activities were shared by the members. Advise to vice presidents to scrutinize the reports of associations under its jurisdiction, before presenting their reports on associations functioning. The speakers were Shri. Mehul Mehta, Mumbai, Shri. Subhrajit Kundu, Shri Alok Trivedi, Shri. Gopal Saha, Kolkata, Shri. Gian Prakash Gupta, Shri. Anil Gupta, Delhi, Shri. Bhupendra Gandhi, Ahmedabad, Shri. Ashok Gupta, Bangalore, Shri. Lalit Kumar Tarachand, Vijayawada, Shri. C. Balasubramanian, Coimbatore, Shri. Arvind Agarwal, Kanpur, Shri. Ankit Agarwal, Meerut, Shri. Kiran Shah, Shri. Narayan Bang, Secunderabad, Shri. S. M. Tyagi, Noida, Shri. Aseem Bordia and Dinesh Khandelwal Nagpur, Shri. Vijay Karwa, Patna, Shri. Yashaswi Patel, Pune, Shri. Bhavan Shah, Surat, and ors.

 

  1. To consider the report of the Subjects Committee appointed for the purpose and approve the Resolutions recommended by them and as finalized in the Annual General Meeting.

 

      The following texts of Resolutions were passed unanimously.

 

Resolution No. 2017/1 (Adoption of Annual Report)

“This 56th Annual General Meeting and Conference of the Federation of Paper Traders’ Associations of India held at Hotel Grand ITC Chola, Chennai from 12th to 14th August 2017 resolves that the annual report of the Federation for the year 1st April 2016 to 31st March 2017 be and is hereby adopted.”

Proposed by: Shri Anil Gupta, Delhi

Seconded by: Shri Subrata Sen, Kolkata

 

Resolution No. 2017/2 (Adoption of Accounts)

This 56th Annual General Meeting and Conference of the Federation of Paper Traders’ Associations of India held at Hotel Grand ITC Chola, Chennai from 12th to 14th August 2017 resolves that the Audited Statement of Accounts and Balance Sheet of the Federation for the year 1.4.2016 to 31.3.2017 be and is hereby adopted.”

Proposed by: Shri Guman Singh Rajpurohit, Bangalore

Seconded by: Shri Shanti Kumar Jain, Delhi

 

Resolution No. 2017/3 (Appointment of Auditors)

This 56th Annual General Meeting and Conference of the Federation of Paper Traders’ Associations of India held at Hotel Grand ITC Chola, Chennai from 12th to 14th August 2017 appreciates the services of M/s. HSMP & Associates LLP, Chartered Accountants and resolves that they be reappointed as auditors for 2017-18 and remuneration will be fixed by the Mumbai office bearers and Managing Committee as they deem fit.

Proposed by: Shri Narayan Bang, Secunderabad

Seconded by: Shri Gian Prakash Gupta, Delhi

 

Resolution No. 2017/4 (Operation of Bank/Securities Accounts)

This 56th Annual General Meeting and Conference of the Federation of Paper Traders’ Associations of India held at Hotel Grand ITC Chola, Chennai from 12th to 14th August 2017 resolves that the Union Bank of India and also State Bank of India be and are hereby authorized to honour cheques, Bills of Exchange, Promissory Notes, Safe Deposit Locker or any other documents drawn, accepted or made on behalf of the Federation by any two of the following office bearers jointly, President, Vice-President, Mumbai. Hon. Secretary, Hon. Treasurer and to act on any instruction so given relating to the current account or Fixed Deposit Account, whether the same is overdrawn or not, relating to the transactions of the Federation. Also resolved that the office bearers are authorized to obtain overdraft facility to the extent of maximum Rs.1 lakh (one lakh) maximum from the Union Bank of India, or State Bank of India as and when considered necessary, against the FDRs standing in the name of the FPTA with the said bank for the conduct of the FPTA’s transactions. It is also further resolved that in addition to the Union Bank of India, State Bank of India the office bearers are also authorized to open and operate Current / Fixed Deposit accounts and/ or overdraft A/c against our FDR only and Safe Deposit Locker in any other Nationalized Bank for the Purpose of efficient and convenient operation of its activities and may also invest in fixed deposit scheme bonds or any Government Securities or IDBI, ICICI or UTI.” This supersedes all earlier resolutions in this regard.

Proposed: Shri. Mehul Mehta, Mumbai

Seconded: Shri. B. Uttamchand Jain, Bangalore

 

Other Resolutions that were recommended by subject committees and were passed are as follows:

 

Resolution No. 2017/6

This 56th Annual General Meeting and Conference of the Federation of Paper Traders’ Associations of India held at Hotel Grand ITC Chola, Chennai from 12th to 14th August 2017 resolves that 4 advertisements are already received and confirmed to pay the rates, fixed by the house. The charges were fixed for 6 months of initial period and later on to review on its demand.

Rs. 25000/- + GST for home page

​​Rs. 10,000/- + GST for sub category

​In CDR format in 800 pixels (width) x 1200 pixels (height). It will be displayed for 5 seconds.​

Proposed by: Shri. Bharat Shah, Mumbai

Seconded by: Shri. R. Ravi, Coimbatore

 

Resolution No. 2017/6

This 56th Annual General Meeting and Conference of the Federation of Paper Traders’ Associations of India held at Hotel Grand ITC Chola, Chennai from 12th to 14th August 2017 resolves that as approved during 52nd AGM that the sponsors to raise the sponsorship amount to Rs. 1 lakh and to continue with the Award for 10 years, after which there will be a review for further continuation, If the sponsor does not accede to the request or if the sponsor no longer exists, the Award can be put to rest. To continue with these awards for another 10 years, after which there will be a review for further continuation. The sponsorship amount to be Rs. 5 Lakhs and the duration to be fixed as 10 years, after which there will be a review for further continuation to be implemented instant. The following awards were replaced and rests were continued further.

Proposed by:  Shri. Mehul Mehta, Mumbai

Seconded by: Shri. Madhusudhan Bang, Vijayawada

 

Resolution No. 2017/7

This 56th Annual General Meeting and Conference of the Federation of Paper Traders’ Associations of India held at Hotel Grand ITC Chola, Chennai from 12th to 14th August 2017 resolves that as decided during the 55th AGM the application for the post of Delegate, Managing Committee Members, Co-opted Members, Vice-Presidents and President should be endorsed with seal and signature by the affiliated associations

Proposed by: Shri. Nirmal Kuhad, Secunderabad

Seconded by: Shri. Piyush Fateepuria, Nagpur

 

Resolution No. 2017/8

This 56th Annual General Meeting and Conference of the Federation of Paper Traders’ Associations of India held at Hotel Grand ITC Chola, Chennai from 12th to 14th August 2017 resolves that the Paper Day Should be celebrated in their area, association.

 

The house passed the resolution unanimously.

 

  1. To declare and present various awards to deserving Persons/Associations as per decision of the panel of judges appointed for the purpose.

 

  1. FPTA’s Shri Badluram Gupta Award: To the paper trader for his long time contribution to the cause of the Paper Trade.

This award was presented to Shri. Dhiraj Karia, Mumbai towards his outstanding contribution to the cause of paper trade.

 

  1. Founder President Jethmal Thakursing Lalvani Memorial Award: To a Paper Trader for his outstanding contribution for the cause of promotion of paper trade in India.
    This award was presented to Shri A. Annamalai (Venkat), Chennai towards his outstanding contribution to the cause of paper trade.
  2. Past President Shri D. P. Saboo Award. This award was given to an affiliated association for rendering outstanding services to its members and the trade.

This was awarded to the Paper Merchants Association (Regd.), Delhi.

 

  1. d. FPTA’s late Shri Jayantilal S Shah Award. To Managing Committee Member who renders useful services for the activities of FPTA

This award was presented to Shri. Ravi Rathi, Secunderabad.

  1. e. Presentation of Past President K. C. Daga Award. To affiliated associations, which host Managing Committee meetings during the year.

This award was presented to the following Associations.

 

Paper Merchants Association, Ahmedabad for hosting 2nd Managing Committee meeting.

Kanpur Paper Merchants Association, Kanpur for hosting 3rd Managing Committee meeting.

  1. FPTA Past President Shri M. Annamalai Chettiar Award: To be awarded to the Hon. Treasurer for the meritorious service rendered during the year.

It was awarded to Hon. Treasurer Shri Parish Parekh, Mumbai

 

  1. Late Smt. Kasturi Devi Rambilas Khandelwal Memorial Fund Award. Presented to the Association hosting the AGM of FPTA.

This was awarded to the Host Association, the Paper Traders Association Mumbai.

 

  1. h. Declaration and presentation of M/s Himatlal & Co., Mumbai, for Vice President Major Asscoiation,
    This year the award was presented to Vice President Vishnukant Rathi, Secunderabad.

 

  1. FPTA Jaina Shaleen Ramesh Chandak Award to convener of Subcommittee for his outstanding work.

This was awarded to Shri Nirmal Kuhad, Convener of Committee for Social Media and Website.

 

  1. FPTA Shobha Cards Awards – For On time publishing of Souvenir.

This was awarded to Shri R Muthu Krishan, Convener of Souvenir committee of the Madras Paper Merchants’ Association, Chennai.

 

  1. Mittar Sain Jain Memorial Award (Delhi): The award given to one of the Past President for useful and regular contributions towards Paper Trade.

The award this year was presented to Shri Vasudeo Goenka, Mumbai.

 

  1. Late Shri. Uggar Sain Jain Memorial Award: The Award to be given to the President from Big Association and One from the Small Association.

Shri Mehul Mehta, The Paper Traders Association, Mumbai received the award for Big Association.

Shri Sanjeev Agarwal, Kanpur Paper Merchants Association, Kanpur received the award for Small Association.

 

  1. Shri. Devji Shivji Karia Memorable Award: To be awarded to Hon. Secretary for the meritorious service rendered during the year.

It was awarded to Hon. Secretary Shri Hiren Karia, Mumbai.

 

  1. Late Shri. Hasmukh C. Shah Legacy Award awarded to Father, Son & their Company:

It was awarded to Shri. PL. Nagappan, Shri. N. Annamalai and Shri. A. Vignesh Nagappan of M/s. Nagappa Paper Company, Chennai.

 

  1. Shri. Lakhamsi Gala Reliable Award To be awarded to Vice President from 20 delegate and Small Associations.

It was awarded to Shri Dipesh Ladda, Vadodara.

 

  1. Nathmal Goenka Memorial Fund (Mumbai)

The corpus interest carried forward as no awardees

 

  1. To declare the result of the elections of Office-bearers & Managing Committee Members for the year 2017-18.

Shri A. Natesan, Chennai, Chairman of Scrutiny Committee announced the names of Office bearers and Managing Committee Members who were elected on the basis of Scrutinizers’ report and requested to fill the vacant post from delegates at earliest. The names of the following were announced for the Posts of Vice President. 1). Shri. Dhiraj Karia, Mumbai 2). Shri. Subhrajit Kundu, Kolkata 3). Shri. P. K. Jain, Delhi 4) Shri. Madhusudhan Bang, Vijayawada 5). Shri Bhupendra Gandhi, Ahmedabad 6). Shri. Vijay Bansal, Agra 7). Shri. Krishna Kumar Sharma, Jaipur. 8). Shri. R. Sunder, Sivakasi. The elected names for the Patron Constituency are 1. Shri. Hasit H. Shah, Mumbai 2. Shri. Bajranglal Agarwal, Delhi 3. Shri. Pawan Kumar Teltia, Delhi 4. Shri. Deepak Mittal, Bangalore 5. Shri. Rakesh Chand Jain, Meerut. The elected names for the Life Associates Constituency are 1. Shri. Gaurang Mehta, Mumbai 2. Shri. Nitish N Shah, Mumbai 3. Shri. Alok Kumar Gupta, Delhi 4. Shri. Ravi Kumar Rathi, Secunderabad 5. Shri Kiran H Shah, Secunderabad

The list of members of managing committee 2017-18 will be printed and circulated vide members reference book 2017-18

 

  1. Past Presidents of FPTA and MPMA Chennai were felicitated with Mementos.

 

  1. Announcement – Incoming President:

The House with prolonged standing ovation received the announcement relating to the nomination of Shri A. Annamalai (Venkat) as the President of the FPTA for the year 2017-18. He was congratulated and garlanded. Shri Shamji Karia invited him to occupy the Chair of the President. The newly elected President thanked the Madras Paper Merchants Association, Chennai. He said that he will do his best promoting the interest of all those concerned. He requested all Affiliated Associations and Members to send their suggestions for better and effective functioning of FPTA and our Trade. He further proposed enough and more opportunities should be given to youngsters to participate in FPTA activities to strengthen the organization  and advised fraternity to “challenge ourselves” and” not challenge others” when it come to increasing top line and bottom line which will make our trade healthy and encourage the next generation to join our trade. He intended as there is only one way communication i.e. from FPTA to all the members by way of circulars between 2 Managing Committee meetings, it was proposed to have a conference call on 2nd Sunday of every month between 10 and 10.30 a.m. in which all the Vice Presidents and Conveners of Various sub committees will participate.  This will help us to implement ideas generated immediately without waiting for the next MC meeting’s. The incoming Vice Presidents and Conveners are requested to follow up with the members of its jurisdiction on the trade issues. He thanked all the delegates for the enthusiasm exhibited in the deliberations of the Conference, which ultimately proved to be productive for common benefit.

 

President informed the house that an application was received for hosting the 57th AGM from Kanpur Paper Merchants Association, Kanpur, Bihar Paper Merchants Association, Patna and Calcutta Paper Traders Association, Kolkata and requested them to invite the members to the AGM.

 

Shri. Arvind Agarwal, Kanpur, Shri. Vijay Kumar Karwa, Patna and Shri. Subhrajit Kundu, Kolkata expressed how they are liable and shared their views for hosting this event, they invited members.

President declared Calcutta Paper Traders Association, Kolkata name to host the 57th AGM. Shri. Subhrajit Kundu, Kolkata thanked president for giving this opportunity.

 

The house concluded with a vote of thanks and National Anthem.

***********************************************************************

 

 

List of Delegates recorded their presence in the 56th A.G.M. (2016–17) held at Hotel ITC GRAND CHOLA, Chennai on 12th Aug to 14th Aug 2017.

 

Paper Trader’s Association,    Mumbai

 

Paper Merchants Association, Delhi

 

 

1.       Shri Dhiraj Karia

2.       Shri Parish Parekh

3.       Shri Hiren Karia

4.       Shri Bhavesh Gala

5.       Shri Bharat Shah

6.       Shri Mehul Mehta

7.       Shri Hasmukh Shah

8.       Shri Rajen Aythora

9.       Shri Priyesh Desai

10.    Shri Nitish Shah

11.    Shri Ashok Kabra

12.    Shri Rajendra Jain

13.    Shri Gaurang Mehta

14.    Shri Devang Vora

15.    Shri Raghav Kothari

16.    Shri Ashok Java

17.    Shri Arvind Nishar

18.    Shri Yatin Mody

19.    Shri Hasit Shah

 

 

1.       Shri Gian Prakash Gupta

2.       Shri Ramesh Chand Jain

3.       Shri Vinod Kumar Jain

4.       Shri Anil Gupta

5.       Shri Namit Jain

6.       Shri Gupta Sandeep

7.       Shri P. K. Jain

8.       Shri Arun Rai Agarwal

9.       Shri Manish Mittal

10.    Shri Ashok Gupta

11.    Shri Pramod Jain

12.    Shri Chandra Dev Chaudhary

13.    Shri Ripin Jain

14.    Shri Girdhari Lal Gupta

15.    Shri Mohan Goel

16.    Shri Krishan Mohan Gupta

17.    Shri Raj Suneja

18.    Shri Shanti Kumar Jain

 

 

 

Calcutta Paper Traders’ Association, Kolkata

 

 

The Madras Paper Merchants’ Assn Chennai

 

 

1.       Shri Nawin Kumar Sarawagi

2.       Shri Rajat Bose

3.       Shri Gopal Saha

4.       Shri Vijay Shankar Modi

5.       Shri Sajjan  Kumar Goenka

6.       Shri Subrata Sen

7.       Shri S. Bhattacharjee

8.       Shri Koustab Bhattacharjee

9.       Shri Subrajit Kundu

10.    Shri R. N.Dutt

11.    Shri Rohan Gupta

12.    Shri Alok Trivedi

13.    Shri Ajay Dhurka

14.    Shri Arak Sutta

15.    Shri Saikat Saha

16.    Shri Subhash Saha

17.    Shri Malay Saha

 

1.       Shri A. Annamalai

2.       Shri A. Muthuraman

3.       Shri R. Ravichandran

4.       Shri R. Muthu Krishnan

5.       Shri L. Joseph

6.       Shri S. M. Akbar

7.       Shri M. Nagoor Meeran

8.       Shri S. Palaniappan

9.       Shri A. Murugan

10.    Shri P. Rajesh Jain

11.    Shri RM. Veerappan

12.    Shri M.Felix Ballarmin

13.    Shri G. Balaji

14.    Shri M. Arulanandam

15.    Shri M. Manikandan

16.    Shri T. M. Imthiyaz Ahmed

17.    Shri S. Thahir Jalal

18.    Shri A. K. Arulraj

19.    Shri A. Elangovan

20.    Shri P. Kumar

 

 

 

 

 

 

Paper Merchants Association, Ahmedabad

 

 

West Bengal Paper Traders Association, Kolkata

 

1.       Shri Bhupendra Gandhi

2.       Shri Jayendra N Desai

3.       Shri Shailesh Sakhidas

4.       Shri Rajkumar Agrawal

5.       Shri Samir Pujara

6.       Shri Naresh Shah

7.       Shri Bhavesh M Kothari

8.       Shri Nandkishore Sharma

9.       Shri Himanshu Shah

10.    Shri Minesh S Parikh

11.    Shri Dharendra R Doshi

12.    Shri Pranay S Parikh

13.    Shri Nilesh A. Shah

14.    Shri Hemant N Shah

15.    Shri Pragnesh N Shah

16.    Shri Jaypal A Shah

17.    Shri Mitesh P Kothari

1.       Shri Lasmi Kant Karwa

2.       Shri Basudeo Karwa

3.       Shri Arun Sundariya

4.       Shri Dulal Das

5.       Shri Vineet Bajoria

6.       Shri Narattom Vyas

7.       Shri Saurabh Jhunjhunwala

8.       Shri Hemant Khetan

 

 

 

The Karnataka Paper Merchants’ & Stationary. Assn–Bangalore

 

The Paper Merchants’ WelfareAssn., Vijayawada

 

1.       Shri Madhusudan Baldwa

2.       Shri Chunnaram Choudhary

3.       Shri Dinesh M Jain

4.       Shri Ramesh Salecha

5.       Shri B. Uttam Chand Jain

6.       Shri Gumansingh Rajpurohit

7.       Shri Kishor H Shah

8.       Shri Ranjeet Jain

9.       Shri Shantilal Jain

10.    Shri Rajendra Kumar

11.    Shri Hitesh Bhansali

12.    Shri Chetan Prakash

13.    Shri Hiralal Tated

1.       Shri Madhusudanan Bang

2.       Shri Paharsingh Rajpurohit

3.       Shri V. V. D. Ramesh

4.       Shri Harishchand Bhandari

5.       Shri Kundanmal Gandhi

6.       Shri Nilesh Solanki

7.       Shri Rakesh Jain

8.       Shri A.T. Arasu

9.       Shri Lalit Kumar Tarachand

10.    Shri G. Nageswara Rao

11.    Shri Y. S. Chakravathi

12.    Shri A. Chandrasekhar Reddy

 

 

Telangana Paper Merchants’ Association, Secunderabad The Paper Traders Association, Nagpur
1.       Shri Sanjeev Baldwa

2.       Shri VishnuKant Rathi

3.       Shri T. Kishan Singh

4.       Shri Vinay Jaiswal

5.       Shri Nirmal Kuhad

6.       Shri Narayandas Bang

7.       Shri Sandeep Karda

8.       Shri Vineet Badruka

9.       Shri Nandkishore Tapadia

10.    Shri M. Krishna

11.    Shri T. Srinath

12.    Shri Jaiprakash Tapadia

13.    Shri Sunil Jhawar

14.    Shri Vinay Baldwa

15.    Shri Sreeniwas Baldwa

1.       Shri Sanjay N Kaushik

2.       Shri Manoj Jejani

3.       Shri Vijay R Khandelwal

4.       Shri Allahad Shastry

5.       Shri Lalit R Sood

6.       Shri Sudhir Jain

7.       Shri Rajesh Khandelwal

 

 

 

 

 

 

 

 

Paper and Allied Merchants  Assn, Coimbatore

 

 

The Lucknow Paper Merchants Association, Lucknow

 

1.       Shri R. Ravi

2.       Shri Lal Chand Jain

3.       Shri C. K. Venkatesh

4.       Shri C. Vijayakumar

5.       Shri V. Sri Sailesh

6.       Shri N. Appadurai

7.       Shri N. Valliappan

8.       Shri K. M. Narayanasamy

9.       Shri Ananda Ramakrishnan

 

1.       Shri Dinesh Chandra Mittal

2.       Shri Raj Kumar Agarwal

 

 

 

Kanpur Paper Merchants’ Assn,  Kanpur

 

Sivakasi Paper Merchants’ Association, Sivakasi

 

 

1.       Shri Vijay Kumar Sultania

2.       Shri Sanjeev Kumar Agarwal

3.       Shri Arvind Agarwal

4.       Shri Saurabh Agarwal

5.       Shri Manish Agarwal

6.       Shri Krishan Kumar Beriwal

 

 

1.       Shri K. Sivaraman

2.       Shri Senthil Rajan

3.       Shri Mariappan

4.       Shri P. Periyasamy

5.       Shri G. Sathieesh Kumar

6.       Shri A. Radha Sekaran

7.       Shri R. Padma Srinivasan

8.       Shri R. Sunder

9.       Shri S. Senthil Andavar

10.    Shri T. Sockalingam

 

 

Erode District Paper & Stationary Merchants Assn, Erode

 

 

Raigath Paper Traders Assn, Raigrh

 

1.       Shri M. Chhokkalingam

2.       Shri K. Senthil kumar

3.       Shri N. Nagarajan

4.       Shri N. Mohanraj

5.       Shri P. Boopathy Raja

6.       Shri V. Velmurugan

7.       Shri K. Alagesan

 

1.       Shri Vikas Agarwal

 

 

Indore Paper Traders Association, Indore

 

The Pune Paper Traders Assn, Pune

 

 

1.       Shri Asuthosh Jhawar

2.       Shri Sandeep Bhargava

3.       Shri Ashish Bandi

4.       Shri Mayank Mangal

5.       Shri Rajendra Mittal

6.       Shri Gagan Gupta

 

 

1.       Shri Dinesh Khandelwal

2.       Shri Yashaswi Patel

3.       Shri Deepak Shah

 

 

 

 

Madurai Paper Traders Association, Madurai

 

 

Paper Merchants Association, Noida

 

1.Shri Alagu

2. Shri Balaji

3. Shri Thiagarajan

4. Shri Subramanian

5. Shri Sankarnarayan

6. Shri Madhavan

 

 

1.       Shri S. M.Tyagi

2.       Shri  Rajesh Khandelwal

3.       Shri Amit Agarwal

4.       Shri Vishal Jain

 

 

 

 

Paper Merchants Association, Surat

 

 

Baroda Paper Traders Association, Vadodara

 

1.       Shri Ashok Khemka

2.       Shri Bhavan Shah

3.       Shri Fahim Kagzi

4.       Shri Mohammed Kagzi

5.       Shri Rajendra Kumar Sojitra

 

1.       Shri Dipesh Laddha

2.       Shri Himanshu Patel

 

 

 

Chhatisgarh Paper Traders Association, Raipur

 

 

 

Agra Kagaz Vyapar Mandal, Agra

1.       Shri Dilip Kodwani

2.       Shri Saurabh Agarwal

1.       Shri Mohit Garg

2.       Shri Sanjeev Verma

3.       Shri Manoj Agarwal

 

 

 

Rajasthan Paper Merchants Association, Jaipur

 

Salem Paper & Allied Traders Association, Salem

 

 

1.       Shri Umesh Sharma

2.       Shri Krishan Kumar Sharma

 

 

1.       Shri K. P Venkatesh

2.       Shri D. Sadasivam

3.       Shri R. Ravikumar

4.       Shri S. Saravanakumar

5.       Shri S. Balaji

6.       Shri A. R. Sathesh

 

 
 

Dehradun Paper Merchant Association, Dheradun

 

 

Kerala Paper Traders Association, Kochi

 

 

1.       Shri Indresh Kumar Manocha

2.       Shri Rajneesh Kumar Sharma

 

1.       Shri Vikram N. Banda

2.       Shri Balakrishnan

3.       Ms. Kirti Jain

4.       Shri Vikas N Banda

 

 

 

 

 

Meerut Paper Vikreta Sangh, Meerut

 

Bihar Paper Merchants’ Assn, Patna

 

1.       Shri Ankit Agarwal

2.       Shri Rajeev Garg

3.       Shri Piyush Tayal

4.       Shri Ashish Jain

5.       Shri Govind Goel

6.       Shri Ankur Jain

1.       Shri Lalit Kumar Sinha

2.       Shri Subhash Chandra (Anil)

3.       Shri Shyam Sunder Agrawal

4.       Shri Vikram Bajanka

5.       Shri Rajan Rastogi

6.       Shri Dindayal Goyal

 

 

Orissa Paper Dealers Association, Cuttack

 

1.       Shri Om Prakash Chapolia

2.       Shri Vishnu Kumar Joshi

3.       Shri Vijay Kumar Budhi

4.       Shri Ramavtar Bhut

 

 

 

List of FPTA’s Former Presidents

1.       Shri Satya Pal Gupta

2.       Shri Mahendra Kumar Jain

3.       Shri Mahesh Khandelwal

4.       Shri Ashok Kumar Gupta

5.       Shri Shyam Sunder Daga

6.       Shri Shyam Sunder Agarwal

7.       Shri A. Natesan

8.       Shri Vijay Kumar Karwa

9.       Shri Arvind Kumar Sharma

10.    Shri Rajeev Agarwal

11.    Shri Harshad P. Shah

12.    Shri Shekhar K Chandak

13.    Shri Manohar B. Kothari

14.    Shri Raj Kumar Bindal

15.    Shri Krishnendu Bhattacharjee

16.    Shri C. Balasubramanian

17.    Shri Shamji Karia

 

 

 

 

DRAFT MINUTES OF THE FIRST MEETING OF THE FPTA’s MANAGING COMMITTEE (2017-2018) HELD AT HOTEL GRAND ITC CHOLA, CHENNAI ON MONDAY, 14th AUGUST 2017.

 

The first meeting (2017-2018) of the newly elected members of the Federation of Paper Traders’ Associations of India was held at Hotel Grand ITC Chola, Chennai on 14th August 2017 under the auspices of the Madras Paper Merchants’ Association, Chennai.  The meeting presided by the newly nominated President Shri. A. Annamalai, Chennai. The meeting commenced at 10.30 a.m. A list of members who attended the meeting is given in the Annexure.

 

  1. Preliminary observations of the President.

The Chair Person welcomed all the members. He thanked and welcomed the new managing committee members and requested work for betterment of trader’s fraternity and FPTA.

The Chair Person requested Vice Presidents to share the dais

1). Shri. Dhiraj Karia, Mumbai 2). Shri.Subrajit Kundu, Kolkata 3). Shri. P. K. Jain, Delhi 4) Shri. Madhusudhan Bang, Vijayawada 5). Shri Bhupendra Gandhi, Ahmedabad 6). Shri. Vijay Bansal, Agra 7). Shri. Krishna Kumar Sharma, Jaipur. 8). Shri. R. Sunder, Sivakasi.

 

  1. Nomination of office bearers.

The Chair Person Shri. A. Annamalai, Chennai requested Shri. Mehul Mehta, President, PTA Mumbai to announce the name of Hon. Secretary and Hon. Treasurer for the current term. He announced Shri. Hiren Karia as Hon. Secretary and Shri Parish Parekh (Mumbai) as Hon. Treasurer of FPTA. The House endorsed it with a round of applause. President invited them to the dais and requested Shri. Hiren Karia to proceed with the agenda.

 

  1. Co-option to the Managing Committee.

Shri Hiren Karia requested Shri A. Natesan, Chairman of Scrutinee Committee to announce the Co-opted Members. The following names were announced:-

 

  1. Shri. Bharat Shah, Mumbai, 2. Shri. Subrata Sen, Kolkata, 3.   Shri. Rajendra Gupta, Delhi           4.   Shri. M. Veerappan, Chennai, 5.   Shri. Kalpesh Shah, Ahmedabad            6. Shri.Ramesh Salecha, Bangalore, 7.   Shri. Sandeep Dhanuka, West Bengal, 8.   Shri. Paharsingh Rajpurohit, Vijayawada, 9.   Shri. Sriniwas Baldwa, Secunderabad, 10. Shri. Naresh Agarwal, Raigarh, 11. Shri. Shiv Kumar Rungta, Raipur 12. Shri. Vishnu Kumar Joshi, Cuttack 13. Shri. Shravan Mehta, Baroda

 

  1. Operation of Bank Accounts: The following Resolution for operating the respective Bank Accounts was approved:

 

Resolution (Operation of Bank/Securities Accounts)

 

“This 56th Annual General Meeting and Conference of the Federation of Paper Traders’ Associations of India held at Hotel Grand ITC Chola, Chennai from 12th to 14th August 2017 resolves that the Union Bank of India and also State Bank of India be and is hereby authorized to honour cheques, Bills of Exchange, Promissory Notes, Safe Deposit Locker or any other documents drawn, accepted or made on behalf of the Federation by any two of the following office bearers jointly, namely, Shri. A. Annamalai (Venkat), President, Shri. Dhiraj Karia, Vice-President.  Shri. Hiren Karia Hon. Secretary, Shri. Parish Parekh, Hon. Treasurer and to act on any instruction so given relating to the current account or Fixed Deposit Account, whether the same is overdrawn or not, relating to the transactions of the Federation. Also resolved that the office bearers are authorized to obtain overdraft facility to the extent of maximum Rs.1 lakh (one lakh) maximum from the Union Bank of India, or State Bank of India as and when considered necessary, against the FDRs standing in the name of the FPTA with the said bank for the conduct of the FPTA’s transactions. It is also further resolved that in addition to the Union Bank of India, State Bank of India the office bearers are also authorized to open and operate Current / Fixed Deposit accounts and/ or overdraft A/c against our FDR only and Safe Deposit Locker in any other Nationalized Bank for the Purpose of efficient and convenient operation of its activities and may also invest in fixed deposit scheme bonds or any Government Securities or IDBI, ICICI or UTI.” This supersedes all earlier resolutions in this regard

 

Proposed by: Shri. Ravi Rathi, Secunderabad

Seconded by: Shri. Gian Prakash Gupta, Delhi

 

  1. Nomination of Sub-Committees.

The following sub- committees were formed and Conveners were appointed. The names of the members of the various sub-committees would be decided and finalized with approval of the conveners. It was advised to follow the guidelines of Advisory Board approved by the house in AGM that preferably Managing Committee Members should be taken as members of Sub Committees, as they will be present during the Managing Committee Meetings to discuss and to take action on its report. In an exceptional case non managing committee member can be taken with the permission of president in consultation with the secretary. Also, no member should be a part of more than 2 committees; as far as possible membership should be restricted to one committee only. Conveners were requested to follow the decision while forming their sub-committee.

 

Convener for Chambers ASSOCHAM and FICCI: Shri. Satyapal Gupta, Delhi

Convener Committee for Consumer Relations, Grievances & Arbitration:
Shri. P. Rajesh Jain, Chennai

Convener, Committee for International Trade: Shri. Shekhar K Chandak, Chennai

Convener, Committee for GST: Shri. Krishan Mohan Gupta, Delhi

Convener of CAIT and Govt. Affairs: Shri. Rajkumar Bindal, Delhi

Convener, Committee for Website and Social Media:
Shri Nirmal Kuhad, Secunderabad

Convener, Committee for Constitution: Shri. C. Balasubramanain, Coimbatore

Convener,  Committee for Industry Affairs: Shri Deepak Mittal, Bangalore

Convener,  Committee for Public Awareness: Shri Ravi Kumar Rathi, Secunderabad

Convener,  Committee Bureau of Indian Standard: Shri Sandeep Bhargava, Indore

Convener for Advisory Board: Shri A. Natesan, Chennai

 

(The lists of names of Managing Committee Members along with the members who are nominated on the various sub-committees of the FPTA will appear in the Members Reference Book 2017-18.)

 

  1. Enrolment of New Members.

M/s. Bhagwati Traders, Howrah: Application for Life Associate Member was received and passed unanimously.

 

  1. Forthcoming meetings of the Managing Committee.

Application for hosting 2nd Managing Committee Meeting was received from KPM&SA Bangalore and for hosting the 3rd Managing Committee Meeting was received from Rajasthan PMA, Jaipur, which were accepted by the house.

 

As accepted by President, Shri. A. Annamalai the 56th Annual General Meeting will be hosted by Calcutta Paper Traders’ Association, Kolkata.

 

  1. To decide Judges for Late Shri. Haresh Chand Memorial Award.

President Appointed Shri. A. Natesan, Shri. Rajeev Agarwal and Shri. Krishnendu Bhattacharjee as judges for Late Shri. Haresh Chand Memorial Award

 

  1. Any other matter with the permission of the chair.

President requested all Affiliated Associations to give their activity report; suggestions to strengthen our organization, Vice President were requested to follow up the matter. Other Members also deliberated on various issues. There were also discussions that Industry should speak on trade/ traders by the Chief Guest, Guest of Honors or representative of mills during the meetings/AGMs.

 

President requested the affiliated associations for participation and assistance during Paperex at Delhi and Chennai, Vice Presidents were given the task to look after the exhibition with Convener, Committee of Public Awareness. As we are going to declare the Paper Day during the Paperex at Delhi huge participation of members required from all over country and all Vice President were given the task for the same.

 

Shri. Hiren Karia, Hon. Secretary informed house on inclusion of FPTA as Member–End Users/Technology Suppliers of Central Pulp & Paper Research Institute (CPPRI) an Autonomous Organization under administrative control of Ministry of Commerce & Industry, Govt. of India. The Ministry of Commerce & Industry has included our Immediate Past President Shri. Shamji Karia as Member of said council for 2 years vide Official Gazette dated 04th May 2017.

 

Adversitement in publication of Members Reference Book were agreed by Shri. A. Annamalai (Venkat), Shri. Dinesh Chand Mittal, Lucknow, Shri. A.Muthuraman, Chennai

 

  1. Vote of thanks and end of the meeting.

Since there was no other matter to be discussed, the meeting was adjourned with a vote of thanks to the host Association and singing of the National Anthem.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

ANNEXURE

 

Members recorded their presence in the 1st Managing Committee (2017-18) Held at Hotel ITC Grand Chola, Chennai on 14th Aug 2017.

 

1.    Shri A. Annamalai(Venkat), President

2.    Shri Shamji Karia, Imm. President

 

VICE PRESIDENTS’

3.    Shri Dhiraj Karia, Mumbai

4.    Shri Subrajit Kundu, Kolkata

5.    Shri P.K. Jain, Delhi

6.    Shri Bhupendra Gandhi, Ahmedabad

7.    Shri Madhusudhan Bang, Vijayawada

8.    Shri Vijay Bansal, Agra

9.    Shri Krishna Kumar Sharma, Jaipur

10.  Shri R. Sunder, Sivakasi

11.  Shri Hiren Karia, Hon. Secretary

12.  Shri Parish Parekh, Hon. Treasurer

Ahmedabad

45. Shri Mitesh Kothari

46.   Shri Bhavesh Kothari

47.  Shri Pragnesh N. Shah

48. Shri Pankaj Shah

49. Shri NandKishore Sharma

 

 

 

 

 

Mumbai

13.     Shri Rajen Aythora

14.      Shri Mehul Mehta

15.     Shri Ashok Kabra

16.     Shri Hasit Shah

17.     Shri Gaurang Mehta

18.     Shri Nitish Shah

Bangalore

50. Shri Kishore Shah

51. Shri Madhu Sudan Baldwa

52. Shri Ramesh Kumar Salecha

53. Shri Dinesh Jain

54. Shri Choonaram Chowdhry

55. Shri B. Uttam Chand Jain

 

Delhi

19.   Shri Gian Prakash Gupta

20.   Shri Krishna Mohan Gupta

21.   Shri Vinod Kumar Jain

22.   Shri Anil Gupta

23.   Shri Shanti Kumar Jain

24.   Shri Pawan Kumar Teltia

25.   Shri Bajranglal Agarwal

26.   Shri Alok Kumar Gupta

Vijayawada

56. Shri Chandra Sekhar Reddy

57. Shri A. T. Arasu

58. Shri Nilesh Solanki

59. Shri Lalit Kumar Tarachand

60. Shri Paharsingh Purohit

61. Shri V.V.D. Ramesh

Kolkata

27.   Shri Rajat Bose

28.   Shri Subhash Saha

29.   Shri Nawin Sarawgi

30.   Shri Gopal Saha

31.   Shri Sajjan Kumar Goenka

 

AGRA

62. Shri Mohit Garg

63. Shri Sanjeev Verma

64. Shri Manoj Agarwal

 

Chennai

32.      Shri R. Muthukrishnan

33.      Shri A. Muturaman

34.      Shri M. Manikandan

35.      Shri A. Murugan

36.      Shri P. Rajesh Jain

37.      Shri M. Veerappan

 

Coimbatore

65.  Shri R. Ravi

66. Shri N. Appadurai

67. Shri K. M. Narayanasamy

West Bengal

38.     Shri Basudeo Karwa

39.     Shri Arun Sundariya

40.     Shri Narottam Vyas

41.     Shri Saurabh Junjunwala

42.     Shri Dulal Das

 

NAGPUR

68. Shri Piyush fattepuria

69. Shri Sushil Keyal Agarwal

70. Shri Aseem (Manu) Barodia

71. Shri Rajesh Khandelwal

ERODE

43.      Shri K. Senthilkumar

44.      Shri M. Chokkalingam

MADURAI

72. Shri R. Balaji

73. Shri A. R. Subramanian

CHHATISGARH

74.  Shri ShivKumar

75.  Shri Shailendra Sukhija

76. Shri Saurabh Agarwal

PATNA

97. Shri Lalit Kumar Sinha

 

BARODA

77. Shri Himanshu Patel

78. Shri Dipesh Laddha

PUNE

98.  Shri Deepak Prakash Shah

99.Shri Yashaswi Patel

SALEM

79. Shri S. Balaji

 

RAJKOT

100. Shri Chamanlal Jogi

 

NOIDA

80. Shri Rajesh Khandelwal

81. Shri Amit Kumar

MEERUT

101. Shri Rajeev Garg

102. Shri Ashish Jain

DEHRADUN

82. Shri Indresh Kumar Minocha

INDORE

103. Shri Rajendra Mittal
104. Shri Sandeep Bhargava

 

SURAT

83. Shri Bhavan Shah

84. Shri Fahim Kagzi

SIVAKASI

105. Shri K. Sivaraman

106. Shri Sockalingam. T

107. Shri P. Periasamy

SECUNDERABAD

85. Shri T. Kishan Singh

86. Shri Sandeep Karda

87. Shri Nirmal Kuhad

88. Shri Jai Prakash Tapadia

89. Shri Sreeniwas Baldwa

90. Shri Kiran H Shah

91.  Shri. Ravi Kumar Rathi

 

 

 

 

LIST of  FPTA’S FORMER PRESIDENT

1)       Shri Satya Pal Gupta

2)       Shri Ashok Kumar Gupta

3)       Shri Shyam Sunder Daga

4)       Shri Shyam Sunder Agarwal

5)       Shri A. Natesan

6)       Shri Vijay Kumar Karwa

7)       Shri Manohar Kothari

8)       Shri Arvind Kumar Sharma

9)       Shri Rajeev Agarwal

10)   Shri Mahendra Kumar Jain

11)   Shri Mahesh Khandelwal

12)   Shri C. Balasubramanian

13)   Shri Shekhar K Chandak

14)   Shri Raj Kumar Bindal

15)   Shri Krishnendu Bhattcharjee

KANPUR

92. Shri Arvind Agarwal

93. Shri Saurabh Agarwal

94. Shri Manish Agarwal

 

 
LUCKNOW

95. Shri Rajkumar Agarwal

96. Shri Dinesh Chandra Mittal

 

 

 

 

 

Mahatma Gandhi has reasons to be fond of Paper, as during his
life time, he is estimated to have written more than 10 million
words for his books, journals and other publications.
The photo on the cover is of the papier mache work done by
sculptor Vanapalli Narsinga Rao of Visakhapatnam, displayed at
National Archives Museum, New Delhi, and inaugurated by Prime
Minister Narendra Modi on April 10, 2017.
He makes his papier mache works by sticking paper layer by layer
Instead of the usual practice of grounding the paper waste into
pulp and making models. He believes that one can depict
emotions perfectly on papier mache unlike in other media.
Concept, content & created by Ramesh C. Gupta
“PAPER” IS SUSTAINABLE, UNIQUE, NATURE FRIENDLY,
BIO-DEGRADABLE, COMPOSTABLE, RECYCLABLE, SAFE AND HEALTHY.
Satyapal Gupta
Convener
Ramesh C. Gupta
Co-convener
R. S. V. P. : +91 93500 74555
SUPPORTING ORGANISATIONS
dkxt+ % lk{kjrk] LokLF; vkSj LoPNrk dk izrhd
PAPER : A SYMBOL OF LITERACY, HEALTH AND HYGIENE
We cordially invite you to the launch ceremony of
PAPER DAY
on
Wednesday, the November 01, 2017 at 4.30 pm
Venue:
Hall No. 7, Conference Hall, Pragati Maidan, New Delhi.
Chief Guest:
Dr. Harsh Vardhan
Hon’ble Union Minister of Science & Technology; Earth
Sciences; Environment , Forest & Climate Change
Guest of Honours:
Shri Vijay Goel
Hon’ble Union Minister of State for Parliamentary Affairs;
Statistics and Programme Implementation
Shri Harsh Pati Singhania
Vice Chairman & Mg. Director, J.K. Paper Ltd.
A. Venkat Annamalai
President – FPTA
Saurabh Bangur
President – IPMA
Pramod Agarwal
President – IARPMA
P. S. Patwari
President – INMA
Dr. R.C. Rastogi
President – IRPMA
Pawan Agarwal
President – IPPTA

VIETNAM DELEGATION
2018
7 NTS – 8 DAYS
04th FEB – 11TH
FEB -2018
HANOI – HA LONG BAY – HO CHI MINH
Vietnam is a Southeast Asian country on the South China Sea known for its
beaches, rivers, Buddhist pagodas and bustling cities. Hanoi, the capital, pays
homage to the nation’s iconic Communist-era leader, Ho Chi Minh, via a huge
marble mausoleum. Ho Chi Minh City (formerly Saigon) has French colonial
landmarks, plus Vietnamese War history museums and the Củ Chi tunnels, used
by Viet Cong soldiers.
HANOI
HA LONG CRUISE
HO CHI MINH
MILL VISIT
AN HOA PAPER
VINA KRAFT
PAPER CO LTD –
GOJO PAPER MFG
LTD
MILLS OF SAIGON
S. BALA
CELL: 9841950894
ITINERARY IN DETAILS
DAY 1: 04 FEB 2018 – SUNDAY: HANOI ARRIVAL – HALF DAY CITY TOUR (-/L/D)
• Xin chao! Welcome to Hanoi, Vietnam. Hanoi is one of Asia’s most enchanting cities, full of culture,
history and the engaging contradictions of a rapidly developing and deeply traditional society.
• Meet & Greet at Noi Bai International airport, transfer to the Indian restaurant to have lunch. Check in
• In the afternoon, then drive to Hanoi Center, visit Hoan Kiem Lake and Ngoc Son Temple.
• Final to explore the lively Old Quarter of Hanoi by cyclo (1hour). This bustling heart of Hanoi has been
a commercial centre since King Ly Thai To built his palace there in the 11th century. Skilled craftsmen started
to migrate and artisan guilds were formed on the famous “36 Streets”. Previously, each street carried the name
of the item produced and sold there, and many still have the same names.
• Close your day by attending a wonderful performance of Water Puppet Show.
• Dinner at the Indian restaurant. Overnight in Hanoi
DAY 2: 05TH FEB 2018 – MONDAY: MEETING WITH VIETNAM PULP & PAPER ASSOCIATION – AN HOA
PAPER MILL VISIT AT HOTEL (B/L/D)
After breakfast at hotel, meeting with Vietnam Pulp & Paper Association
• Lunch from Indian restaurant
• In the afternoon, having half day • you will depart to the An Hoa Paper Mill for full day visit
Have dinner at Indian restaurant. • Overnight in Hanoi
DAY 3: 06TH FEB 2018 – TUESDAY: HANOI – HA LONG BAY CRUISE (B/L/D)
•After breakfast, Heading out to Ha Long Bay at 08:00, a UNESCO World Heritage •
At 11:30-12:00 boat for an overnight cruise amongst the more than 3,000 limestone islands rising majestically
out of the turquoise bay. You pass grand rock formations and quaint fishing towns, and sample a delicious lunch
of freshly caught fish and seafood.
•Afternoon, sight-seeing the spectacular Halong Bay. Overnight on board.
DAY 4: 07TH FEB 2018 – WEDNESDAY: HA LONG BAY – HO CHI MINH (B/L/D)
• Start the day with calming Tai Chi, often accompanied by an amazing sunrise and the quiet breathtaking
beauty of the bay’s landscape.
• Enjoy the breakfast and continue visit the bay.
• Pack your luggage and check out cabin.
• Brunch is served on board while the cruise back to habour.
• Disembark the cruise and take transfer back to the Hai Phong airport and take your flight to Ho Chi
Minh city
– Route: Hanoi – Ho Chi Minh, Date: 07 Feb 2018
– Flight: 07FEB HAN SGN Post Lunch
• Upon arrival, Our guide and driver will pick up at the airport to transfer to hotel for check – in
• Ho Chi Minh City is the largest city of Vietnam. It is the bustling economic capital and cultural
trendsetter of the country, yet holds the timeless traditions of an ancient culture.
• The rest of the day is free at leisure
• Dinner at the Indian restaurant. Overnight in Ho Chi Minh City
DAY 5: 08TH FEB 2018- THURSDAY: MILLS OF SAIGON –– GOJO PAPER MFG LTD (B/L/D)
 08:00 Breakfast at hotel,
 11:30 Depart to the Mills of Saigon And then visit Gojo Paper MFG LTD
 Packed Lunch from Indian restaurant
 Then come back to Ho Chi Minh city and have Dinner at Indian restaurant Overnight at Ho Chi Minh city
DAY 6: 09TH FEB 2018 – FRIDAY: CONSULATE MEETING + VINA KRAFT PAPER CO LTD (B/PL/D)
 08:00, Breakfast at hotel, Indian Consulate and Chamber Meeting and later
 Depart to the Vina Kraft Paper CO LTD.
 Packed Lunch from Indian restaurant
 Dinner at the Indian restaurant. Overnight in Ho Chi Minh City

DAY 7: 10TH FEB 2018- SATURDAY: HALF DAY CITY TOUR WITH SHOPPING (B/L/D)
 After breakfast, visit the Reunification Palace, the home and workplace of the President of South Vietnam
during the Vietnam War. Visit outside The nearby Notre Dame Cathedral, built between 1877 and 1883,
most materials for Saigon’s Notre Dame Cathedral were imported from France, and one of the city’s major
landmarks.
 Visit the War remnant Museum
 Next to the cathedral stands the Saigon Post Office, a classic French colonial structure, is still a functioning
post office today and features huge ceilings, a giant portrait of Uncle Ho, and many beautiful details.
 Lunch at Indian restaurant
 In the afternoon, visit Ben Thanh Market – an icon of the city, stands in the center of District 1. Packed to
the rafters with everything from fruits to nuts, from tourist kitsch to true bargains, it is a definite must-see
and you will have free time for shopping.
 Dinner at the Indian restaurant. Overnight in Ho Chi Minh.
DAY 8: 11TH FEB 2018 – SUNDAY: HO CHI MINH CITY DEPARTURE (B/-/-)
• After breakfast, Morning is free at leisure in Ho Chi Minh City for some last minute shopping before depart for your
flight.•End of service.
PRICE IN DETAILS: PERIOD: 04th FEB 2018 –11 FEB 2018 (LAST DEPARTURE DATES)
Supplement Cost of Single Room would INR 44,990 Per Person
TOUR PRICE INCLUDES
 Return Group Economy airfare in Malaysian airline
 07 nights’ shared Accommodation in twin/double room with daily breakfast at the below indicated room types
(see hotel category list below) (check in and check out around noontime)
 2 days & 1 nights cruise at Ha Long Bay
 All transfers and transportation with air-con vehicles (types of vehicles depending on the number of pax):
o 40 – 45 pax: 01 coach of 47 seats
 All entrance fees as program
 Meals (B/L/D) (Breakfast/Lunch/Dinner) as indicated in the program (Local food):
 Inter Sector Ticket – Hanoi -Ho Chi Minh – should be booked on or before 20th Oct -2017
 Complimentary Overseas Medical Insurance – for below 54 Yrs (above 54 Yrs extra)
 Complimentary WIFI in Hotels
 Cost Vietnam E-Visa
 Service of Professional Tour Manager
Remarks: These are current rates. The airfares are subject to be changed and will be updated at time of booking
and ticket issuing
TOUR PRICE EXCLUDES
– Meals (other than mentioned in the program)
– Drinks
PER PERSON ON TWIN SHARING -MIN OF 40-45 PAX TRAVELLING TOGETHER- MINIMUM 10 PAX FROM EACH HUB
HOTEL DETAILS HUB AIRLINE PACKAGE COST PER PERSON
FORTUNA HANOI MAA
MALAYSIAN AIRLINE
(MH)
FPTA – PRIVATE (CHARTER) CRUISE HYD INR 105715 + GST 5 %
PULLMAN SAIGON – 5* BOM
DEL
– Mineral water beyond that supplied
– Tips
– Early check in or late check out
– Insurances
– Optional excursions and activities
– Additional transfer required due to any emergency situation
– Items of a personal nature (Phone calls, laundry, beverage)
– Peak season surcharges if any – All not mentioned above
FLIGH DETAILS – MALAYSIAN AIRLINE
EX- CHENNAI
MH 181 04EB MAAKUL 0020 0650
MH 752 04FEB KULHAN 0940 1200
MH 759 11FEBSGNKUL 1640 1940
MH 180 11FEB KULMAA 2150 2300

EX- HYDERABAD
MH 199 04FEB HYDKUL 0015 0705
MH 752 04FEB KULHAN 0940 1200
MH 759 11FEB SGNKUL 1640 1940
MH 198 11FEB KULHYD 2140 2315
EX- MUMBAI
MH 195 03FEB BOMKUL 2325 #0705
MH 752 04FEB KULHAN 0940 1200
MH 751 11FEB SGNKUL 1100 1400
MH 194 11FEB KULBOM 2000 2225
EX- DELHI
MH 191 03FEB DELKUL 2310 #0700
MH 752 04FEB KULHAN 0940 1200
MH 751 11FEBSGNKUL 1100 1400
MH 190 11FEB KULDEL 1850 2150
TOUR COST DOESN’T INCLUDE
-Any Increase in the airfare charged by the airlines on air your air ticket (Currently Calculated Oct, 2017 rates)
-Any increase in the rate of exchange leading to an increase in the surface transportation and land arrangement
which may come into effect prior to departure.
-Cost of relevant foreign exchange to be surrendered by the passengers out of the Basic Travel
Quota Scheme.
-Entrance fees other than what is mentioned in the itinerary
-Porterage charges, Tips, Insurance, laundry, wines, Corkage, mineral water, telephone charges,
Room Service, Beverages, optional tour and al item of personal nature and also food and drink
not forming part of the group menus.
-Early Check in & Late Checkout: International Check in (1400 hrs)/Check out (1200 hrs)
-Alcohol, Conference equipment, Theme décor, Entertainment etc during Conference or Dinner
at the hotel
-Surcharge rates may be applicable on the entire package, depending upon the final date of travel.
-All Hotels do not have tea/coffee making facility in room. The same differs hotel to Hotel and
city to city
-Anything not specifically mentioned in the ―Package Tour Price Includes‖ column
TERMS & CONDITIONS
-Our tour price is subject to a minimum 40-45 Adults Full Paying Adult traveling together, In case. Min of 40-
45 Pax Travelling Together- Minimum 15 Pax from Each Hub of any changes of the number of the group
attendees; our rates will be changed accordingly
-No refund on unutilized services
-Tour cost is subject to change with respect to any increase in visa charges, airfare, taxes and/or any other cost
factor that is not within M/S. HOLIDAY PARK PVT LTD control at the time of giving this cost.
-The names/passports of all qualifiers need to be given to M/S. HOLIDAY PARK PVT LTD one month prior to
the date of departure.
-All the above is just an offer – No Reservation has been made on your behalf
-The above quote is based on current fares for both land and air applicable in market.
-In case of any increase in the Airport taxes or fuel surcharge, the difference in the cost must be paid. The proof
from the Airlines and government for the same will be submitted for your kind reference.
-We are not holding any reservations on Airlines & Hotel for the above group. And the same is subject to
availability/change on clients preferred dates, failing which there will be a supplement cost.
-All the above rates are subject to availability of hotel rooms at the time of booking.
-All Hotels do not have tea/coffee making facility in room. The same differs hotel to Hotel and city to city
-Late sitting in a restaurant for meals is totally subject to the terms & conditions of the hotel / restaurant used.
Same will be requested but cannot be guaranteed.
-If the hotel is not available, we reserve the right to offer an alternative of a similar standard
-If passengers depart or arrive separate to the group, additional charges will be levied and same will have to be
paid by the individual.
-In case of currency fluctuations of more than 3% or amendment in local Government taxes, we reserve the
right to adjust the tour price accordingly.
-Any Payments through Credit Card will attract bank charges, to be paid to directly.
-Kindly note that advance paid to the airlines / hotel to hold inventory is Non-Refundable.
-Any incidental or actual expenses to be paid over and above
-Above rates are valid only for the above group travelling during FEB 2018
-Passenger less than 12 years old is considered as child.
Grant of visa on arrival depends on sole discretion of Immigration Authority and M/S. Holiday Park Pvt Ltd is
not responsible for any non-grant of visa to traveler.
-Kindly avoid being over drunk by intake of hard drinks during the flights to avoid any inconvenience during
visa on arrival, Immigration and custom process.
-The airfare and the rate of exchange is as of Oct 2017 (1 USD = INR 65 ) and is subject to change with or
without prior notice due to frequent fluctuations in the airfare, taxes and rate of exchange.
PAYMENT & CONFIRMATION
– We request for a purchase order and Payment of INR 50,000 advance of the estimated business value at
the time confirmation to proceed with the bookings. Due to time limitation
– Balance payment before 30 days of departure
– All payments are non-refundable & final payment.
– All Payments to be made by Cheque / RTGS in favor of ―M/S. HOLIDAY PARK PVT LTD .
– Any payments through credit card will attract bank charges to be paid to M/S. HOLIDAY PARK PVT
LTD additionally.
– Any incidental or actual expenses to be paid over and above the tour price.
– All confirmation subject to final approval by FPTA- International Committee
CANCELLATION POLICY
-If circumstance make you cancel your tour, the cancellation must be intimated to us in writing.
-When a cancellation is made 60 days before departure: As charged by airlines plus
M/S. HOLIDAY PARK PVT LTD Management Fee. (Rs.1500) & Visa: As actual cost plus Rs 500 service
charge per visa and other services.
-45 – 25 days prior to commencement of service 75 % of Tour Cost
-20 days prior to commencement of service 100 % of Tour Cost
-All amendments, etc will need to conform to each airline’s policy on such matters.
BANK DETAILS : CONTACT DETAILS
M/S. HOLIDAY PARK PRIVATE LIMITED Ms. Praveena – Manager – Operation
ICICI BANK +91-9952970929
CURRENT ACCOUNT : 000905500708
NUNGAMBAKKAM BRANCH
IFSC Code: ICIC0000009
MICR Code: 600229003
GST NO : 33AADCH3180Q1ZB
Thanks & Best Regards,
S. Bala
Business Head
M/S. Holiday Park Private Limited
1F4, Metro Tower, 115, Ponamallee High Road,
Pursaiwakkam, Chennai – 600 084
Phone: +91-44-48554939
Mob : +91-9841950894
Email: bala@holidayparkindia.com

Dear Members,
 

With reference to our earlier email dated 29th September 2017 about 

​celebrating

 “PAPER DAY”​ at PAPEREX, New Delhi.

Please find the details for your information
Date and Time: 01st November 2017 at 4.00 p.m
Venue: Hall No. 7, Conference Hall,
            1st Floor, Entrance from Gate No. 7,
             Pragati Maidan, New Delhi
​More details about the program will follow in due course.​
 

​We are looking forward for your presence and whole hearted support to make this event grand Success.

​ ​
 
Regards
For FPTA
Hiren Karia
Hon. Secretary

THE PAPER TRADERS’ ASSOCAITION, Mumbai 

Aug 2017

 

Activities-Achievements-Updates during this Period by the Association

 

No. Date Name of the Activity Description
1 03/08& 10/08/17 BDS Mtg. During the meeting the cases which are in progress, were reviewed.
2 09/08/17 Special Mtg. Special meeting of office bearers to discuss about the 56th AGM & Conference of FPTA held at Chennai on 12th, 13th & 14th August 2017.
3 12/08/17 Monthly Circulars The monthly Circular was circulated on 12/8/2017 wherein important information about “Due Dates for GST Return for the month of 07/17 & 08/17

were given along with GST dates for the month of

09/17,10/17,11/17 & 12/17and Annual Return dates, Important information about GST was also given. The Notice & Minutes of 76th AGM were also circulated along with the Circular.

4 14/08& 21/08/17 Friday Meet During the two Meetings official issues were discussed &reviewed

 

HELP AND SUPPORT EXPECTED FROM FPTA:

No. Date Title Description
1) Non Supplies to Defaulter FPTA should honour and instruct all the Associations and to its members that if any Association declares defaulter then no other Association or its member should supply to defaulter
2) Non Supplies to Defaulter by the Mills FPTA should instruct and take the help of IAPMA that if any Association declares the defaulter then the defaulter should not be supplied by any Paper Mill directly or indirectly
3) Promotion of Paper as Green and Environment Friendly FPTA should with the help of IAPMA jointly should promote the Paper as Green Product.
4) MRP & Weight Measurement Issue Paper Being Raw Material for Ptg. & publishing Industry should be exempted from MRP Labels and Act
5) GST Earliest implementation of GST required
6) Indirect Taxes Simplification of Various Indirect taxes
7) LBT Taxes Required Support for Abolition of LBT and Octroi from Maharashtra

________________________________________________________________

 

 

 

The Karnataka Paper Merchants’ & Stationers’ Association, Bangalore – Aug 2017

 

Aug 2017

 

Activities-Achievements-Updates during this Period by the Association

No. Date Name of the Activity Description
1 12 to 14.08.2017 FPTA AGM cum Conclave Around 40 members attended the FPTA AGM at Chennai; it was indeed a great experience to have around 600 + traders there. Traders discussed various issues related to trade and market. FPTA awarded second Managing Committee meeting to KPMSA.
2 15.08.2017 Independence Day Function Around 200 KPMSA members and their staff attended 71st Independence Day function at KPMSA office. Flag hoisting ceremony followed by members meeting and breakfast.
3 15.08.2017 Legal & Metrology (Weight & Measurement) Dept meeting Official from Weight & Measurement department addressed the gathering at Members meet on Independence Day meet. The educated our members about rules and regulation about packaged Commodity.
4. 28.08.2017 Managing Committee meeting 11th Managing committee meeting held at KPMSA office. Members discussed the upcoming 70th KPMSA AGM which is going to be held on 17.09.2017 to elect new office bearers and Managing Committee. Last date for nomination is fixed on 09.09.2017. Next MC meeting is also 09.09.2017.
5.   GST Updates Regular GST Updates as received from FPTA, FKCCI and Other reliable sources were forwarded to the Members by Way of Email & WhatsApp Messages. Our Karnataka JCCT Sri Murali Krishna is very helpful in sharing inputs related to GST. The same has been forwarded to our members by our Chairman, Taxation Committee Sri Vasant H Shah.

 

________________________________________________________________

 

 

 

 

 

 

 

 

 

The Paper Merchants’ Welfare Association, Vijayawada

 

Aug 2017

 

Activities-Achievements-Updates during this Period by the Association

 

No. Date Name of the Activity Description
1.

 

12-8-2017 FPTA 56th AGM

Held on 12-8-2017 to 14-8-2017 at Chennai hosted by

The Madras Paper

Merchants  Association

1) Mr. Madhusudan Bang, M/s. Ramchandar Shivnarayan Sons, Vijayawada -2 was nominated as FPTA Zonal Vice-President for the year 2017-2018 from our Association as per provision of every alternate year.

2) The following PMWA members were nominated as FPTA MC members for the year 2017-2018.

a) Mr. Lalit Kumar Tarachand,

M/s. Sha Amichand Tarachand & Sons, Vijayawada-1.

b) Mr. V.V.D. Ramesh,

M/s. Sri Ravi & Co., Vijayawada -1.

c) Mr. Nilesh Solanki,

M/s. Vardhaman Paper Products, Vijayawada-3.

d) Mr. A.T. Arasu,

M/s. Arasu Papers, Vijayawada-1.

e) Mr. A. Chandrasekhar Reddy,

M/s. Divya Publications, Vijayawada-10.

 

Co-Opted :

a) Mr. Pahar Singh Rajpurohit,

M/s. Suresh Paper Agencies, Vijayawada -3.

 

The FPTA 56th AGM was well organised and conducted tremendously. Every member who attended to the AGM felt satisfaction and happiness for their accommodation and hospitality.

 

 

________________________________________________________________

 

 

 

 

 

 

 

 

TELANGANA PAPER MERCHANTS’ ASSOCIATION

 

Aug 2017

 

Activities-Achievements-Updates during this Period by the Association

 

No. Date Name of the Activity Description
1.

 

15.08.2017 Independence Day Celebrations Our President Shri. Sandeep Karda Hoisted the national Flag at Kagaz Bhavan. After the flag hoisting members went to Home for the Disabled, Secunderabad and provided Lunch to its Inmates.
2.

 

 

20.08.2017

 

 

JANAHITA

(Member organization of Ekal Vidyalaya Movement in Telangana)

 

Members of TPMA attended function organized by Janahita to support free education to tribal children.

 

 

3.

 

 

28.08.2017

 

 

2nd  Meeting of Kagaz Bhavan Committee of 2017-18

 

We had our second meeting of Kagaz Bhavan Committee. Matters of Kagaz Bhavan were discussed.

 

4.

 

 

30.08.2017

 

 

Distribution of Note books to Schools

 

Free distribution of Note Books to children of Govt High School Park lane, Kalasiguda, Secunderabad was held. Smt. Aruna Goud (Corporator Secunderabad Division) was also invited.

 

 5.

 

 

31.08.2017

 

 

Distribution of Note books to Schools

 

Free distribution of Note Books to children of Govt High School Esamia Bazar Hyderabad was held. Smt. Mamta Gupta (Corporator Hyderabad Division) was also invited.

 

 6.

 

 

 

 

31.08.2017

 

 

 

 

1st  Joint meeting of Kagaz Bhavan Committee & Managing Committee

 

 

 

 

Our Association 1st joint meeting of managing committee & Kagaz Bhavan committee was held no 31.08.2017 to discuss and implement various matters of our Association.

 

Matters related to various activities of our Association were elaborately discussed.

 

Elaborate discussions were held related to KBC Committee.

  7. All the Circulars sent by you have been Circulated to all the Members.

 

 

 

 

 

 

 

 

 

Sep 2017

 

Activities-Achievements-Updates during this Period by the Association

 

No. Date Name of the Activity Description
1.

 

 

 

11.09.2017

 

 

 

GST INTERACTIVE SESSION

 

 

TPMA conducted a Seminar cum Question Answer Session in Kagaz Bhavan at 5.30 pm followed by dinner.

We had invited a senior Chartered Accountant Shri Murli Manohar Pollod to educate our members who came with their respective accountants about various queries such as filing of returns, RCM & ITC etc.

2.

 

15.09.2017

 

 

2nd  Meeting of Arbitration Board

 

 

Chairman Shri R.G. Prasad gave details of various cases of the members and reviewed the pending cases and briefed the members.

He concluded the meeting by giving his report of Arbitration Board.

3. All the Circulars sent by you have been Circulated to all the Members.

_______________________________________________________________

Paper and Allied Merchants Association, Coimbatore. – Aug 2017

 

10-08-2017      GST outreach programme jointly by central excise and commercial taxes department at suguna kalayanamandapam on filing of GSTR1, GSTR3 – 3B return.

11-08-2017      FPTA Advisory Board Meeting at Hotel Grand Chola – Chennai at 3.30 p.m. Attended by Mr. C. Balasubramanian

12.08.2017      FPTA MC Meeting at Hotel Grand Chola – Chennai Attended by PAMA MC Members.

FPTA Inaugural Ceremony of 56th AGM, Attended by PAMA MC Members and Delegates.

13-08-2017      FPTA 56th AGM – Business sessions Attended by PAMA MC Members and Delegates.

14-08-2017      FPTA 1st MC Meeting Attended by PAMA MC Members Mr. C. Balasubramanian nominated convener of FPTA constitution committee chamber of commerce Governing Council Meeting Attended by Mr. C. Balasubramanian.

15-08-2017      Chamber of Commerce Independence Day Flag Hoisting by President of Chamber Attended by Mr. R. Ravi and Mr. C.Balasubramanian.

18-08-2017      GST Awareness programme on filling of GSTR-3-B, GSTR-1 AND GSTR – 2. 11AM chamber of commerce.

PAMA EC Meeting at 7.30 pm

Subject Discussed:

  1. Passing of Accounts for year ended 31-03-2017
  2. Fixing date of PAMA AGM
  3. -FPTA AGM at Chennai.

 

23.08.2017      FTAC –EC Meeting attended by Mr. C. Balasubramanian

Contents

 

                                                                      

  • Income Tax

 

  • Goods & Service Tax (GST)
  1. 3. International Law

 

 

  1. Company Law

 

        

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income Tax

 

I-T Department to focus more on e-assessment to reduce human interface:

The Income Tax Department will focus on widening of tax base and maximize e-assessment to cut down on human interface, according to an official statement. Also, efforts will be made by the Central Board of Direct Taxes (CBDT) to exceed the income tax collection target set for current fiscal by use of big-data analytics, said the statement after the end of the two-day annual retreat of central and state government tax officers.

(Source : http://www.financialexpress.com/economy/i-t- department-to- focus-more- on-e- assessmentto-reduce- human-interface/838378/)

 

I-T plans to pursue property-holders who have never filed income tax returns

Income tax authorities plan to pursue those who have properties in their name but haven’t ever filed income tax returns on the suspicion that these may be benami holdings on behalf of people looking to conceal their wealth. The exercise is part of the government’s crackdown on black money. The findings have emerged from the analysis of vast amounts of data that the government has collected. “We have alot of data from various sources including on investments in property by people who have never filed returns,” said an income tax official. This information will be verified to ascertain the source of income used for the purchase of the properties and to see if these are being held by benami owners.

(Source : http://economictimes.indiatimes.com/news/economy/policy/i-t- plans-to- pursue-propertyholders-who- have-never-filed-income- tax-returns/articleshow/60110324.cms)

 

Income tax scrutiny to remain limited despite ITR filings surge

The income tax department will maintain the number of income tax returns (ITRs) chosen for scrutiny at the current level of less than 1% of all returns, in spite of a surge in individual tax filings to keep the process nonintrusive and taxpayer-friendly. Gentle persuasion through text messages, emails and advertisements will remain the department’s main ways of interacting with taxpayers, while enforcement action will be reserved for cases where specifictip-offs regarding large-scale evasions have been received.

 

Out of the 52.8 million income-tax returns filed for the 2015-16 fiscal year, only about 300,000 cases, or around 0.6%, were scrutinized, a person privy to the deliberations within the tax department said on condition of anonymity. “Even when the numbers of assessee grow, scrutiny will be limited to this level—250,000-400,000 cases. It will always be less than 1% of returns received. We are absolutely non- intrusive to almost everyone.

Even in most of the cases scrutinized, we do not hold searches or surveys,” the person cited above said, adding that the income-tax department vests its faith in taxpayers.

(Source: http://www.livemint.com/Home-Page/qanXdX16W7Bqx87d7EkMDI/Income- tax-scrutiny- to-remainlimited-despite-ITR- filings-su.html)

 

Introduction of New Facility for verification

New Facility introduced to select the verification option before submitting the Income Tax Return. Please use Digital Signature Certificate (DSC) or Electronic Verification Code (EVC) options available in e- Filing portal to verify your Income Tax Return for faster processing.

(Source: https://incometaxindiaefiling.gov.in/)

CBDT extends the time for Linking PAN with Aadhaar from 31st August 2017 to 31st December 2017

Under the provisions of recently introduced section 139AA of the Income-tax Act, with effect from 01.07.2017, all taxpayers having Aadhaar Number or Enrolment Number are required to link it with PAN Number for filing the tax return. The said provision was relaxed by the Central Board of Direct Taxes (’CBDT’) vide its order dated 31.07.2017, in file of even number, wherein further time till 31.08.2017 was allowed to the taxpayers to link Aadhaar with PAN.

 

On consideration of the matter, CBDT, in exercise of powers conferred under section 119 of the Act, modifies para 3 of its earlier order dated 31.07.2017 and further extends the time for linking Aadhaar with PAN till 31.12.2017.

(Source:https://incometaxindiaefiling.gov.in/eFiling/Portal/StaticPDFNews/NewsdueDatePANAadhaar.pdf)

 

CBDT has extended the due date for filing Income Tax Returns and audit reports from 30th September 2017to 31st October 2017

The Goods and Services Tax (‘GST’) has come into effect on 01.07.2017. In recent days, dates for filing various returns and forms under GST have been extended by the Government. In this backdrop, representations have been filed by various stakeholders requesting for extending the ‘due date’ for filing various reports of audit as well as tax-returns under the Income-tax Act from 30th September, 2017 so as to allow sufficient time to the assessees’ and tax professionals, and thus, facilitate their ease of compliance with statutory responsibilities

under various fiscal laws.

 

On consideration of the matter, the Central Board of Direct Taxes, in exercise of powers conferred under section 119 of the Act, in respect of all assessees’ covered under clause (a) of Explanation 2 to sub-section (1) of section 139 of the Act, hereby extends the ‘due-date’ prescribed therein for filing the return of income as well as various reports of audit prescribed under the income-tax Act which are required to be filed by the said ‘due date’ from 30th September, 2017 to 31st October, 2017.

(Source: https://incometaxindiaefiling.gov.in/eFiling/Portal/StaticPDFNews/NewsTaxReturns.pdf)

Income-tax department, MCA team up against shell firms

The Income Tax department (IT) and the Ministry of Corporate Affairs (MCA) have signed a pact to regularly share data, including PAN and audit reports of firms, to crack down on shell companies, the government said. The pact aims at curbing the menace of money laundering, black money, and misuse of corporate structure by shell companies, a finance ministry statement said. It added a memorandum of understanding for Automatic and Regular Exchange of Information was signed between the MCA and the Central Board of Direct Taxes (CBDT) on September 6 and took effect the same day.

(Source:http://www.business-standard.com/article/economy-policy/tax-dept-mca-team-up-against-shellfirms)1170914017741. html)

 

 

 

 

 

 

 

 

 

 

GST (Goods & Service Tax)

 

Waiver of the late fee payable on delay in filing of GSTR-3Bfor July 2017

The Central Government, on the recommendations of the GST Council, has waived the late fee payable under section 47 of the CGST Act, for all registered persons who failed to furnish the return in FORM GSTR-3B for the month of July, 2017 by the due date.

(Notification No.28 /2017 dated 1st September, 2017)

 

GST Council extends the timelines for compliance and amends the rate of tax for some goods

In 21st meeting of the GST Council held on 9th September 2017, it was decided to extend the due dates for submission of regular GST Returns. Also the Council extended the requirement to file the summary Return in Form 3B up to the month of December, 2017. In addition, the Government also decided to amend the rates of specified goods. The major decisions of the Council are mentioned below:

 

Extension in due dates for submission of returns:

Sr.

No.

Type of Return Type of Reporting Tax period Revised due date
1. Form GSTR 1 Monthly return for outward supplies –

for registered persons having

turnover of more than Rs. 100 Cr

July, 2017 3rd October, 2017
Monthly return for outward supplies – for others 10th October, 2017
2. Form GSTR 2 Monthly return for inward supplies July, 2017 31st October, 2017
3. Form GSTR 3 Monthly return July, 2017 10th November, 2017
4. Form GSTR 4 Quarterly return for composition

dealers

July to September,

2017

18th October, 2017

(No change)

5. Form GSTR 6 Monthly return for Input Service

Distributor (ISD)

 

July 2017 13th October, 2017
6. Form TRAN 1 Return for claiming transition related

credits

 

NA 31st October, 2017

 

  • The summary return in Form 3B will be required to be filed for the months of August to December, 2017
  • Form TRAN 1 can be revised once, after submission.
  • The timelines for submission of returns for other months will be notified separately.

 

 

 

 

Other Compliance related changes:

TDS: The registrations for the persons liable to deduct tax at source and collect tax at source will commence from 18 September, 2017. However, date from which tax has to be deducted/ collected will be notified by the Council later.

 

Composition scheme: A registered person, who could not opt for composition scheme can opt for composition scheme till 30th September, 2017. Such person will be permitted to avail composition scheme with effect from 1st October, 2017.

 

Registration for inter-state supply: Any person, making inter-State supply of handicraft goods upto aggregate turnover of INR 2 million (INR 1 million in special category States except J&K) will not be liable for registration, if he has a Permanent Account Number and the goods move under the cover of an e-way bill, irrespective of value of the consignment.

 

Inter-state Job-work: A job worker making inter-State supply of job work service to a registered person can claim threshold exemption, as long as the goods move under the cover of an e-way bill, irrespective of the value of the consignment. This option will not be available for job work in relation to jewellery, goldsmiths’ and silversmiths’ wares covered under Chapter 71 (which do not require e-way bill).

 

Amendment in rate:

The Compensation cess on automobiles has been increased as under:

  • Cess on mid segment cars has been increased by 2%
  • Cess on large cars has been increased by 5%
  • Cess on SUVs has been increased by 7%.

 

The increase in cess is not applicable to hybrid cars, for whom, the rate of cess remains same as before. Further, there is no change in cess for small cars and 13 seater vehicles.

 

  • The tax rates have been proposed to be reduced on several goods, including about 30 daily use items, dried tamarind, walnut, batter for idli/ dosa, raincoat, rubber bands etc. The rate of duty credit scrips is proposed to be reduced to 5%. Khadi fabric sold through KVIC stores has been exempted.

 

  • The definition of ‘works contract’ is proposed to be amended to cover all works contracts carried out for the Government.

 

  • For food sector, the definition of branded food items is proposed to be inserted, according to which (i) goods which were sold under a registered brand name as on 15th May, 2017 under the IPR laws in India or any other country; or (ii) goods sold under a mark or a name, on which the seller is entitled to maintain an actionable claim or has exclusivity would attract GST @ 5%.

 

 

 

 

 

 

 

 

International Tax

 

Liaison and project offices do not constitute a PE in India

Based on the facts and in the circumstances of the case, recently, the Delhi High Court in the case of Mitsui & Co. Ltd. held that offices of the taxpayer and its activities cannot be regarded as its Permanent Establishment (PE) in India and the income directly or indirectly attributable to the said offices was not taxable in India. In order to constitute PE within the meaning of Article 5(2) of India-Japan tax treaty (tax treaty), it was not enough to have office, factory or a workshop etc., but it is required that such place was a fixed place of business through which the business of an enterprise is wholly or partly carried out under Article 5(1) of the tax treaty. The Liaison Office (LO) of the taxpayer was not in fact used for the purpose of business. The LO is solely for the purpose of search or display or solely for the purchases of goods or collecting information or for any other activity. Therefore, it does not constitute a PE in India.

(DIT v. Mitsui & Co. Ltd. (2017) 84 taxmann.com 3 (Del))

 

Profits from offshore and onshore services are taxable in India and it is attributable to the supervisory

PE in India

Based on the facts and in the circumstances of the case, recently, the Delhi Bench of the Income-tax Appellate Tribunal (the Tribunal) in the case of Shanghai Electric Group Co. Ltd. (the taxpayer) held that the taxpayer is having a supervisory Permanent Establishment (PE) in India. The Tribunal observed that Indian clients contracted the taxpayer to carry out the work of supply, supervision, erection, installation and successful commissioning of plants. The taxpayer was directly involved in the entire supervisory work carried out in India and was responsible for the successful functioning of the projects in India under each and every contract.

 

The Tribunal observed that the agreements entered into by the taxpayer with its clients in India are in the nature of a composite contract since agreements are inextricably linked with each other. None of the agreements are executed exclusively for sale of equipments. The taxpayer was specialized in manufacturing of equipments required for setting up of power plant and it was also involved in supply of the same. The transfer of title to the equipments has taken place in India. Further, the contracts are negotiated and concluded in India. The expatriates come to India to provide technical support services to PEs in India. All these activities go on to establish that the taxpayer has business connection in India within the meaning of Section 9(1)(I) of the Income tax Act, 1961 (the Act). Splitting of this transaction under supply and services will be wholly artificial and neither will it have a rational basis, nor can it be recognized for the purposes of computation of profits attributable to the PE.

 

The Tribunal held that profits relating to services rendered by the taxpayer, whether rendered in India or outside India, in respect of Indian projects are taxable in India, and are attributable to the supervisory PE of the taxpayer in India since they are effectively connected with each other.

(Shanghai Electric Group Co. Ltd. v. DCIT (2017) 84 taxmann.com 44 (Del))

 

 

 

Company Law

 

Exemptions given to certain unlisted public companies under the Companies Appointment and

Qualification of Directors) Rules, 2014 from the appointment of independent directors

This Ministry, vide notification number G.S.R. 839(E) dated 5th July, 2017 issued the Companies (Appointment and Qualification of Directors) Amendment Rules, 2017 inter-alia amending rule 4 of the Companies (Appointment and Qualification of Directors) Rules, 2014. The said amended Rule 4 inter alia provides that an unlisted public company which is a joint venture, a wholly owned subsidiary or a dormant company will not be required to appoint Independent Directors. Stakeholders have sought clarifications with regard to the meaning of joint venture for the purposes of availing exemption under Rule 4 of the aforesaid Rules as such a term is not defined in the Companies Act 2013.

 

The matter has been examined and it is hereby clarified that a joint venture, would mean a joint arrangement, entered into in writing, whereby the parties that have joint control of the arrangement, have rights to the net assets of the arrangement. The usage of the term is similar to that under the Accounting Standards.

http://www.mca.gov.in/Ministry/pdf/GeneralCircular_05092017.pdf

 

Obligation to comply with the Indian Accounting Standards (Ind AS) and Rule 4 of Companies (Indian

Accounting Standards)Rules, 2015 – Payment Banks, Small Finance Banks which are subsidiaries of

Corporates:

Some stakeholders have sought clarifications with regard to implementation of Ind AS wherein the holding

company has Payment Banks or Small Finance Banks as its subsidiaries (Notification GSR 365 (E)

dated 30.03.2016).

 

The matter has been examined and it is clarified that the holding company if it is covered by the corporate sector roadmap for implementation of Ind AS, shall follow the corporate sector road map and if the company has got payment bank or small finance bank as its subsidiary then subsidiary company shall follow the banking sector roadmap prescribed vide RBI circular DBR.BP.BC.No.76/ 21.07.001/2015-16 dated 11th February, 2016 on “Implementation of Indian Accounting Standards (Ind AS)” read with circular BR.NBD.No.2s/16.13.218/2016-

17 dated 6th October, 2016 on “Operating Guidelines for Payments Banks”. However, the Payment Banks or Small Finance Banks shall provide the Ind AS financial data to its holding company for the purpose of consolidation.

[To be published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i)]

 

Government of India

Ministry of Finance

Department of Revenue

Central Board of Excise and Customs

 

 

Notification No.27 /2017 – Central Tax

 

New Delhi, the 30thAugust, 2017

 

G.S.R. ( )E.:- In exercise of the powers conferred by section 164 of the Central Goods and Services Tax Act, 2017 (12 of 2017), the Central Government hereby makes the following rules further to amend the Central Goods and Services Tax Rules, 2017, namely:-

 

  • These rules may be called the Central Goods and Services Tax (Sixth Amendment) Rules, 2017.

 

  • Save as otherwise provided in these rules, they shall come into force on such date as the Central Government may, by notification in the Official Gazette, appoint.

 

  1. In the Central Goods and Services Tax Rules, 2017 (hereafter in this notification referred to as the principal rules), –

 

(i) for rule 138, the following shall be substituted, namely:-

 

“138. Information to be furnished prior to commencement of movement of goods and generation of e-way bill.- (1) Every registered person who causes movement of goods of consignment value exceeding fifty thousand rupees—

 

  • in relation to a supply; or

 

  • for reasons other than supply; or

 

  • due to inward supply from an unregistered person,

 

shall, before commencement of such movement, furnish information relating to the said goods in Part A of FORM GST EWB-01, electronically, on the common portal.

 

  • Where the goods are transported by the registered person as a consignor or the recipient of supply as the consignee, whether in his own conveyance or a hired one or by railways or by air or by vessel, the said person or the recipient may generate the e-way bill in FORM GST EWB-01 electronically on the common portal after furnishing information in Part B of FORM GST EWB-01.

 

  • Where the e-way bill is not generated under sub-rule (2) and the goods are handed over to a transporter for transportation by road, the registered person shall furnish the information relating to the transporter in Part B of FORM GST EWB-01 on the common portal and the e-way bill shall be generated by the transporter on the said portal on the basis of the information furnished by the registered person in Part A of FORM GST EWB-01:

 

1

Provided that the registered person or, as the case may be, the transporter may, at his option, generate and carry the e-way bill even if the value of the consignment is less than fifty thousand rupees:

 

Provided further that where the movement is caused by an unregistered person either in his own conveyance or a hired one or through a transporter, he or the transporter may, at their option, generate the e-way bill in FORM GST EWB-01 on the common portal in the manner specified in this rule:

 

Provided also that where the goods are transported for a distance of less than ten kilometres within the State or Union territory from the place of business of the consignor to the place of business of the transporter for further transportation, the supplier or the transporter may not furnish the details of conveyance in Part B of FORM GST EWB-01.

 

Explanation 1.– For the purposes of this sub-rule, where the goods are supplied by an unregistered supplier to a recipient who is registered, the movement shall be said to be caused by such recipient if the recipient is known at the time of commencement of the movement of goods.

 

Explanation 2.-The information in Part A of FORM GST EWB-01 shall be furnished by the consignor or the recipient of the supply as consignee where the goods are transported by railways or by air or by vessel.

 

  • Upon generation of the e-way bill on the common portal, a unique e-way bill number (EBN) shall be made available to the supplier, the recipient and the transporter on the common portal.

 

  • Any transporter transferring goods from one conveyance to another in the course of transit shall, before such transfer and further movement of goods, update the details of conveyance in the e-way bill on the common portal in FORM GST EWB-01:

 

Provided that where the goods are transported for a distance of less than ten kilometres within the State or Union territory from the place of business of the transporter finally to the place of business of the consignee, the details of conveyance may not be updated in the e-way bill.

 

  • After e-way bill has been generated in accordance with the provisions of sub-rule (1), where multiple consignments are intended to be transported in one conveyance, the transporter may indicate the serial number of e-way bills generated in respect of each such consignment electronically on the common portal and a consolidated e-way bill in FORM GST EWB-02 maybe generated by him on the said common portal prior to the movement of goods.

 

  • Where the consignor or the consignee has not generated FORM GST EWB-01 in accordance with the provisions of sub-rule (1) and the value of goods carried in the conveyance is more than fifty thousand rupees, the transporter shall generate FORM GST EWB-01 on the basis of invoice or bill of supply or delivery challan, as the case may be, and may also generate a consolidated e-way bill in FORM GST EWB-02 on the common portal prior to the movement of goods.

 

2

  • The information furnished in Part A of FORM GST EWB-01 shall be made available to the registered supplier on the common portal who may utilize the same for furnishing details in FORM GSTR-1:

 

Provided that when the information has been furnished by an unregistered supplier in FORM GST EWB-01, he shall be informed electronically, if the mobile number or the e-mail is available.

 

  • Where an e-way bill has been generated under this rule, but goods are either not transported or are not transported as per the details furnished in the e-way bill, the e-way bill may be cancelled electronically on the common portal, either directly or through a Facilitation Centre notified by the Commissioner, within 24 hours of generation of the e-way bill:

 

Provided that an e-way bill cannot be cancelled if it has been verified in transit in accordance with the provisions of rule 138B.

 

  • An e-way bill or a consolidated e-way bill generated under this rule shall be valid for the period as mentioned in column (3) of the Table below from the relevant date, for the distance the goods have to be transported, as mentioned in column (2) of the said Table:

 

Table

 

Sr. no. Distance Validity period
(1) (2) (3)
1. Upto 100 km One day
2. For every 100 km or part thereof thereafter One additional day

 

 

Provided that the Commissioner may, by notification, extend the validity period of e-way bill for certain categories of goods as may be specified therein:

 

Provided further that where, under circumstances of an exceptional nature, the goods cannot be transported within the validity period of the e-way bill, the transporter may generate another e-way bill after updating the details in Part B of FORM GST EWB-01.

 

Explanation.—For the purposes of this rule, the “relevant date” shall mean the date on which the e-way bill has been generated and the period of validity shall be counted from the time at which the e-way bill has been generated and each day shall be counted as twenty-four hours.

 

  • The details of e-way bill generated under sub-rule (1) shall be made available to the recipient, if registered, on the common portal, who shall communicate his acceptance or rejection of the consignment covered by the e-way bill.

 

  • Where the recipient referred to in sub-rule (11) does not communicate his acceptance or rejection within seventy two hours of the details being made available to him on the common portal, it shall be deemed that he has accepted the said details.

 

 

 

 

3

  • The e-way bill generated under this rule or under rule 138 of the Goods and Services Tax Rules of any State shall be valid in every State and Union territory.

 

  • Notwithstanding anything contained in this rule, no e-way bill is required to be generated—

 

  • where the goods being transported are specified in Annexure;

 

  • where the goods are being transported by a non-motorised conveyance;

 

  • where the goods are being transported from the port, airport, air cargo complex and land customs station to an inland container depot or a container freight station for clearance by Customs; and

 

  • in respect of movement of goods within such areas as are notified under clause

 

  • of sub-rule (14) of rule 138 of the Goods and Services Tax Rules of the concerned State.

 

Explanation. – The facility of generation and cancellation of e-way bill may also be made available through SMS.

 

ANNEXURE
[(See rule 138 (14)]
S. Chapter or Description of Goods
No. Heading or
Sub-heading
or Tariff
item
(1) (2) (3)
1. 0101 Live asses, mules and hinnies
2. 0102 Live bovine animals
3. 0103 Live swine
4. 0104 Live sheep and goats
5. 0105 Live poultry, that is to say, fowls of the species Gallus domesticus,
ducks, geese, turkeys and guinea fowls.
6. 0106 Other live animal such as Mammals, Birds, Insects
7. 0201 Meat of bovine animals, fresh and chilled.
8. 0202 Meat of bovine animals frozen [other than frozen and put up in unit
container]
9. 0203 Meat of swine, fresh, chilled or frozen [other than frozen and put up in
unit container]
10. 0204 Meat of sheep or goats, fresh, chilled or frozen [other than frozen and
put up in unit container]
11. 0205 Meat of horses, asses, mules or hinnies, fresh, chilled or frozen [other
than frozen and put up in unit container]
12. 0206 Edible offal of bovine animals, swine, sheep, goats, horses, asses,
mules or hinnies, fresh, chilled or frozen [other than frozen and put up
in unit container]
13. 0207 Meat and edible offal, of the poultry of heading 0105, fresh, chilled or
frozen [other than frozen and put up in unit container]
4
S. Chapter or Description of Goods
No. Heading or
Sub-heading
or Tariff
item
(1) (2) (3)
14. 0208 Other meat and edible meat offal, fresh, chilled or frozen [other than
frozen and put up in unit container]
15. 0209 Pig fat, free of lean meat, and poultry fat, not rendered or otherwise
extracted, fresh, chilled or frozen [other than frozen and put up in unit
container]
16. 0209 Pig fat, free of lean meat, and poultry fat, not rendered or otherwise
extracted, salted, in brine, dried or smoked [other than put up in unit
containers]
17. 0210 Meat and edible meat offal, salted, in brine, dried or smoked; edible
flours and meals of meat or meat offal, other than put up in unit
containers
18. 3 Fish seeds, prawn / shrimp seeds whether or not processed, cured or in
frozen state [other than goods falling under Chapter 3 and attracting
2.5%]
19. 0301 Live fish.
20. 0302 Fish, fresh or chilled, excluding fish fillets and other fish meat of
heading 0304
21. 0304 Fish fillets and other fish meat (whether or not minced), fresh or
chilled.
22. 0306 Crustaceans, whether in shell or not, live, fresh or chilled; crustaceans,
in shell, cooked by steaming or by boiling in water live, fresh or
chilled.
23. 0307 Molluscs,  whether  in  shell  or  not,  live,  fresh,  chilled;  aquatic
invertebrates other than crustaceans and molluscs, live, fresh or chilled.
24. 0308 Aquatic invertebrates other than crustaceans and molluscs, live, fresh
or chilled.
25. 0401 Fresh milk and pasteurised milk, including separated milk, milk and
cream,  not  concentrated  nor  containing  added  sugar  or  other
sweetening matter, excluding Ultra High Temperature (UHT) milk
26. 0403 Curd; Lassi; Butter milk
27. 0406 Chena or paneer, other than put up in unit containers and bearing a
registered brand name;
28. 0407 Birds’ eggs, in shell, fresh, preserved or cooked
29. 0409 Natural honey, other than put up in unit container and bearing a
registered brand name
30. 0501 Human hair, unworked, whether or not washed or scoured; waste of
human hair
31. 0506 All goods i.e. Bones and horn-cores, unworked, defatted, simply
prepared (but not cut to shape), treated with acid or gelatinised; powder
and waste of these products
32. 0507 90 All goods i.e. Hoof meal; horn meal; hooves, claws, nails and beaks;
antlers; etc.
33. 0511 Semen including frozen semen
5
S. Chapter or Description of Goods
No. Heading or
Sub-heading
or Tariff
item
(1) (2) (3)
34. 6 Live trees and other plants; bulbs, roots and the like; cut flowers and
ornamental foliage
35. 0701 Potatoes, fresh or chilled.
36. 0702 Tomatoes, fresh or chilled.
37. 0703 Onions, shallots, garlic, leeks and other alliaceous vegetables, fresh or
chilled.
38. 0704 Cabbages, cauliflowers, kohlrabi, kale and similar edible brassicas,
fresh or chilled.
39. 0705 Lettuce (Lactuca sativa) and chicory (Cichorium spp.), fresh or chilled.
40. 0706 Carrots, turnips, salad beetroot, salsify, celeriac, radishes and similar
edible roots, fresh or chilled.
41. 0707 Cucumbers and gherkins, fresh or chilled.
42. 0708 Leguminous vegetables, shelled or unshelled, fresh or chilled.
43. 0709 Other vegetables, fresh or chilled.
44. 0712 Dried vegetables, whole, cut, sliced, broken or in powder, but not
further prepared.
45. 0713 Dried leguminous vegetables, shelled, whether or not skinned or split.
46. 0714 Manioc, arrowroot, salep, Jerusalem artichokes, sweet potatoes and
similar roots and tubers with high starch or inulin content, fresh or
chilled; sago pith.
47. 0801 Coconuts, fresh or dried, whether or not shelled or peeled
48. 0801 Brazil nuts, fresh, whether or not shelled or peeled
49. 0802 Other nuts, Other nuts, fresh such as Almonds, Hazelnuts or filberts
(Coryius  spp.),  walnuts,  Chestnuts  (Castanea  spp.),  Pistachios,
Macadamia nuts, Kola nuts (Cola spp.), Areca nuts, fresh, whether or
not shelled or peeled
50. 0803 Bananas, including plantains, fresh or dried
51. 0804 Dates, figs, pineapples, avocados, guavas, mangoes and mangosteens,
fresh.
52. 0805 Citrus fruit, such as Oranges, Mandarins (including tangerines and
satsumas); clementines, wilkings and similar citrus hybrids, Grapefruit,
including pomelos, Lemons (Citrus limon, Citrus limonum) and limes
(Citrus aurantifolia, Citrus latifolia), fresh.
53. 0806 Grapes, fresh
54. 0807 Melons (including watermelons) and papaws (papayas), fresh.
55. 0808 Apples, pears and quinces, fresh.
56. 0809 Apricots, cherries, peaches (including nectarines), plums and sloes,
fresh.
57. 0810 Other fruit such as strawberries, raspberries, blackberries, mulberries
and  loganberries,  black,  white  or  red  currants  and  gooseberries,
cranberries, bilberries and other fruits of the genus vaccinium, Kiwi
fruit, Durians, Persimmons, Pomegranates, Tamarind, Sapota (chico),
Custard-apple (ata), Bore, Lichi, fresh.
6
S. Chapter or Description of Goods
No. Heading or
Sub-heading
or Tariff
item
(1) (2) (3)
58. 0814 Peel of citrus fruit or melons (including watermelons), fresh.
59. 9 All goods of seed quality
60. 0901 Coffee beans, not roasted
61. 0902 Unprocessed green leaves of tea
62. 0909 Seeds of anise, badian, fennel, coriander, cumin or caraway; juniper
berries [of seed quality]
63. 0910 11 10 Fresh ginger, other than in processed form
64. 0910 30 10 Fresh turmeric, other than in processed form
65. 1001 Wheat and meslin [other than those put up in unit container and
bearing a registered brand name]
66. 1002 Rye [other than those put up in unit container and bearing a registered
brand name]
67. 1003 Barley [other than those put up in unit container and bearing a
registered brand name]
68. 1004 Oats [other than those put up in unit container and bearing a registered
brand name]
69. 1005 Maize (corn) [other than those put up in unit container and bearing a
registered brand name]
70. 1006 Rice [other than those put up in unit container and bearing a registered
brand name]
71. 1007 Grain sorghum [other than those put up in unit container and bearing a
registered brand name]
72. 1008 Buckwheat, millet and canary seed; other cereals such as Jawar, Bajra,
Ragi] [other than those put up in unit container and bearing a registered
brand name]
73. 1101 Wheat or meslin flour [other than those put up in unit container and
bearing a registered brand name].
74. 1102 Cereal flours other than of wheat or meslin, [maize (corn) flour, Rye
flour, etc.] [other than those put up in unit container and bearing a
registered brand name]
75. 1103 Cereal groats, meal and pellets [other than those put up in unit
container and bearing a registered brand name]
76. 1104 Cereal grains hulled
77. 1105 Flour, of potatoes [other than those put up in unit container and bearing
a registered brand name]
78. 1106 Flour, of the dried leguminous vegetables of heading 0713 (pulses)
[other than guar meal 1106 10 10 and guar gum refined split 1106 10
90], of sago or of roots or tubers of heading 0714 or of the products of
Chapter 8 i.e. of tamarind, of singoda, mango flour, etc. [other than
those put up in unit container and bearing a registered brand name]
79. 12 All goods of seed quality
80. 1201 Soya beans, whether or not broken, of seed quality.
81. 1202 Ground-nuts, not roasted or otherwise cooked, whether or not shelled
7
S. Chapter or Description of Goods
No. Heading or
Sub-heading
or Tariff
item
(1) (2) (3)
or broken, of seed quality.
82. 1204 Linseed, whether or not broken, of seed quality.
83. 1205 Rape or colza seeds, whether or not broken, of seed quality.
84. 1206 Sunflower seeds, whether or not broken, of seed quality.
85. 1207 Other oil seeds and oleaginous fruits (i.e. Palm nuts and kernels, cotton
seeds, Castor oil seeds, Sesamum seeds, Mustard seeds, Saffower
(Carthamustinctorius)  seeds,  Melon  seeds,  Poppy  seeds,  Ajams,
Mango kernel, Niger seed, Kokam) whether or not broken, of seed
quality.
86. 1209 Seeds, fruit and spores, of a kind used for sowing.
87. 1210 Hop cones, fresh.
88. 1211 Plants and parts of plants (including seeds and fruits), of a kind used
primarily in perfumery, in pharmacy or for insecticidal, fungicidal or
similar purpose, fresh or chilled.
89. 1212 Locust beans, seaweeds and other algae, sugar beet and sugar cane,
fresh or chilled.
90. 1213 Cereal straw and husks, unprepared, whether or not chopped, ground,
pressed or in the form of pellets
91. 1214 Swedes,  mangolds,  fodder  roots,  hay,  lucerne  (alfalfa),  clover,
sainfoin, forage kale, lupines, vetches and similar forage products,
whether or not in the form of pellets.
92. 1301 Lac and Shellac
93. 1404 90 40 Betel leaves
94. 1701 or 1702 Jaggery of all types including Cane Jaggery (gur) and Palmyra Jaggery
95. 1904 Puffed rice, commonly known as Muri, flattened or beaten rice,
commonly known as Chira, parched rice, commonly known as khoi,
parched paddy or rice coated with sugar or gur, commonly known as
Murki
96. 1905 Pappad
97. 1905 Bread (branded or otherwise), except pizza bread
98. 2201 Water [other than aerated, mineral, purified, distilled, medicinal, ionic,
battery, de-mineralized and water sold in sealed container]
99. 2201 Non-alcoholic Toddy, Neera including date and palm neera
100. 2202 90 90 Tender coconut water other than put up in unit container and bearing a
registered brand name
101. 2302, 2304, Aquatic feed including shrimp feed and prawn feed, poultry feed and
2305, 2306, cattle feed, including grass, hay and straw, supplement andhusk of
2308, 2309 pulses, concentrates andadditives, wheat bran and de-oiled cake
102. 2501 Salt, all types
103. 2835 Dicalcium phosphate (DCP) of animal feed grade conforming to IS
specification No.5470 : 2002
104. 3002 Human Blood and its components
105. 3006 All types of contraceptives
8
S. Chapter or Description of Goods
No. Heading or
Sub-heading
or Tariff
item
(1) (2) (3)
106. 3101 All goods and organic manure [other than put up in unit containers and
bearing a registered brand name]
107. 3304 Kajal [other than kajal pencil sticks], Kumkum, Bindi, Sindur, Alta
108. 3825 Municipal waste, sewage sludge, clinical waste
109. 3926 Plastic bangles
110. 4014 Condoms and contraceptives
111. 4401 Firewood or fuel wood
112. 4402 Wood charcoal (including shell or nut charcoal), whether or not
agglomerated
113. 4802 / 4907 Judicial, Non-judicial stamp papers, Court fee stamps when sold by the
Government Treasuries or Vendors authorised by the Government
114. 4817 / 4907 Postal items, like envelope, Post card etc., sold by Government
115. 48 / 4907 Rupee notes when sold to the Reserve Bank of India
116. 4907 Cheques, lose or in book form
117. 4901 Printed books, including Braille books
118. 4902 Newspapers, journals and periodicals, whether or not illustrated or
containing advertising material
119. 4903 Children’s picture, drawing or colouring books
120. 4905 Maps and hydrographic or similar charts of all kinds, including atlases,
wall maps, topographical plans and globes, printed
121. 5001 Silkworm laying, cocoon
122. 5002 Raw silk
123. 5003 Silk waste
124. 5101 Wool, not carded or combed
125. 5102 Fine or coarse animal hair, not carded or combed
126. 5103 Waste of wool or of fine or coarse animal hair
127. 52 Gandhi Topi
128. 52 Khadi yarn
129. 5303 Jute fibres, raw or processed but not spun
130. 5305 Coconut, coir fibre
131. 63 Indian National Flag
132. 6703 Human hair, dressed, thinned, bleached or otherwise worked
133. 6912 00 40 Earthen pot and clay lamps
134. 7018 Glass bangles (except those made from precious metals)
135. 8201 Agricultural implements manually operated or animal driven i.e. Hand
tools, such as spades, shovels, mattocks, picks, hoes, forks and rakes;
axes, bill hooks and similar hewing tools; secateurs and pruners of any
kind; scythes, sickles, hay knives, hedge shears, timber wedges and
other tools of a kind used in agriculture, horticulture or forestry.
136. 8445 Amber charkha
137. 8446 Handloom [weaving machinery]
138. 8802 60 00 Spacecraft (including satellites) and suborbital and spacecraft launch
vehicles
9
S. Chapter or Description of Goods
No. Heading or
Sub-heading
or Tariff
item
(1) (2) (3)
139. 8803 Parts of goods of heading 8801
140. 9021 Hearing aids
141. 92 Indigenous handmade musical instruments
142. 9603 Muddhas made of sarkanda and phool bahari jhadoo
143. 9609 Slate pencils and chalk sticks
144. 9610 00 00 Slates
145. 9803 Passenger baggage
146. Any chapter Puja samagri namely,-
(i)   Rudraksha,  rudraksha  mala,  tulsikanthi  mala,  panchgavya
(mixture of cowdung, desi ghee, milk and curd);
(ii) Sacred thread (commonly known as yagnopavit);
(iii) Wooden khadau;
(iv) Panchamrit,
(v) Vibhuti sold by religious institutions,
(vi) Unbranded honey
(vii) Wick for diya.
(viii) Roli
(ix) Kalava (Raksha sutra)
(x) Chandantika
147. Liquefied petroleum gas for supply to household and non
domestic exempted category (NDEC) customers
148. Kerosene oil sold under PDS
149. Postal baggage transported by Department of Posts
150. Natural or cultured pearls and precious or semi-precious stones;
precious metals and metals clad with precious metal (Chapter
71)
151. Jewellery,  goldsmiths’  and  silversmiths’  wares  and  other
articles (Chapter 71)
152. Currency
153. Used personal and household effects
154. Coral, unworked (0508) and worked coral (9601);

 

 

(ii) in the principal rules, after rule 138, the following shall be inserted, namely:-

 

“138A. Documents and devices to be carried by a person-in-charge of a conveyance.-(1) The person in charge of a conveyance shall carry—

 

  • the invoice or bill of supply or delivery challan, as the case may be; and

 

  • a copy of the e-way bill or the e-way bill number, either physically or mapped to a Radio Frequency Identification Device embedded on to the conveyance in such manner as may be notified by the Commissioner.

 

 

 

10

  • A registered person may obtain an Invoice Reference Number from the common portal by uploading, on the said portal, a tax invoice issued by him in FORM GST INV-1 and produce the same for verification by the proper officer in lieu of the tax invoice and such number shall be valid for a period of thirty days from the date of uploading.

 

  • Where the registered person uploads the invoice under sub-rule (2), the information in Part A of FORM GST EWB-01 shall be auto-populated by the common portal on the basis of the information furnished in FORM GST INV-1.

 

  • The Commissioner may, by notification, require a class of transporters to obtain a unique Radio Frequency Identification Device and get the said device embedded on to the conveyance and map the e-way bill to the Radio Frequency Identification Device prior to the movement of goods.

 

  • Notwithstanding anything contained clause (b) of sub-rule (1), where circumstances so warrant, the Commissioner may, by notification, require the person-in-charge of the conveyance to carry the following documents instead of the e-way bill-

 

  • tax invoice or bill of supply or bill of entry; or

 

  • a delivery challan, where the goods are transported for reasons other than by way of supply.

 

 

138B. Verification of documents and conveyances.- (1) The Commissioner or an officer empowered by him in this behalf may authorise the proper officer to intercept any conveyance to verify the e-way bill or the e-way bill number in physical form for all inter-State and intra-State movement of goods.

 

  • The Commissioner shall get Radio Frequency Identification Device readers installed at places where the verification of movement of goods is required to be carried out and verification of movement of vehicles shall be done through such device readers where the e-way bill has been mapped with the said device.

 

  • The physical verification of conveyances shall be carried out by the proper officer as authorised by the Commissioner or an officer empowered by him in this behalf:

 

Provided that on receipt of specific information on evasion of tax, physical verification of a specific conveyance can also be carried out by any officer after obtaining necessary approval of the Commissioner or an officer authorised by him in this behalf.

 

138C. Inspection and verification of goods.- (1) A summary report of every inspection of goods in transit shall be recorded online by the proper officer in Part A of FORM GST EWB-03 within twenty four hours of inspection and the final report in Part B of FORM GST EWB-03 shall be recorded within three days of such inspection.

 

  • Where the physical verification of goods being transported on any conveyance has been done during transit at one place within the State or in any other State, no further physical verification of the said conveyance shall be carried out again in theState, unless a specific information relating to evasion of tax is made available subsequently.

 

 

11

 

 

138D. Facility for uploading information regarding detention of vehicle.-Where a vehicle has been intercepted and detained for a period exceeding thirty minutes, the transporter may upload the said information in FORM GST EWB-04 on the common portal.

 

FORM GST EWB-01

 

(See rule 138)

E-Way Bill

 

PART-A

 

A.1   GSTIN of Recipient

 

A.2    Place of Delivery

 

A.3   Invoice or Challan Number

 

A.4   Invoice or Challan Date

 

A.5   Value of Goods

 

A.6   HSN Code

 

A.7   Reason for Transportation

 

A.8    Transport Document Number

 

PART-B

 

  1. Vehicle Number

 

Notes:

 

  1. HSN Code in column A.6 shall be indicated at minimum two digit level for taxpayers having annual turnover upto five crore rupees in the preceding financial year and at four digit level for taxpayers having annual turnover above five crore rupees in the preceding financial year.

 

  1. Transport Document number indicates Goods Receipt Number or Railway Receipt Number or Airway Bill Number or Bill of Lading Number.

 

  1. Place of Delivery shall indicate the PIN Code of place of delivery.

 

  1. Reason for Transportation shall be chosen from one of the following:

 

Code          Description

 

  • Supply

 

  • Export or Import

 

  • Job Work

 

  • SKD or CKD

 

  • Recipient not known

 

  • Line Sales

 

  • Sales Return

 

  • Exhibition or fairs

 

  • For own use

 

0              Others

 

 

12

FORM GST EWB-02

 

(See rule 138)

 

Consolidated E-Way Bill

 

Number of E-Way Bills

 

E-Way Bill Number

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

13

FORM GST EWB-03

 

(See rule138C)

 

Verification Report

 

Part A

 

Name of the Officer

 

Place of inspection

 

Time of inspection

 

Vehicle Number

 

E-Way Bill Number

 

Invoice or Challan or Bill Date

 

Invoice or Challan or Bill Number

 

Name of person in-charge of vehicle

 

Description of goods

 

Declared quantity of goods

 

Declared value of goods

 

Brief description of the discrepancy

 

 

 

 

 

 

Whether goods were detained?

 

If not, date and time of release of vehicle

 

Part B

 

Actual quantity of goods

 

Actual value of the Goods

 

Tax payable

 

Integrated tax

 

Central tax

 

State or UT tax

 

Cess

 

Penalty payable

 

Integrated tax

 

Central tax

 

State or UT tax

 

Cess

 

Details of Notice

 

Date

 

Number

 

 

 

 

 

 

 

 

14

Summary of findings

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

15

FORM GST EWB-04

 

(See rule138D)

 

 

Report of detention

 

E-Way Bill Number

 

Approximate  Location

 

of detention

 

Period of detention

 

Name   of   Officer   in-     (if known)

 

charge

 

Date

 

Time

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

16

FORM GST INV – 1
(See rule 138A)
Generation of Invoice Reference Number
IRN: Date:
Details of Supplier
GSTIN
Legal Name
Trade name, if any
Address
Serial No. of Invoice
Date of Invoice
Details of Recipient (Billed to) Details of Consignee (Shipped to)
GSTIN or UIN, if
available
Name
Address
State (name and code)
Type of supply –
B to B supply
B to C supply
Attracts Reverse Charge
Attracts TCS GSTIN of operator
Attracts TDS GSTIN of TDS Authority
Export
Supplies made to SEZ
Deemed export
Sr. Description HS Qty. Uni Price Tota Discoun Taxabl Central tax State or UT Integrated Cess
No. of Goods N t (per l t, if any e value tax tax
unit) valu
Rate Amt. Rate   Amt. Rate   Am Ra A
e
t. te mt
.

Freight

 

Insurance

 

Packing and Forwarding Charges etc.

 

Total

 

Total Invoice Value (In figure)

 

Total Invoice Value (In Words)

 

Signature

 

Name of the Signatory

 

Designation or Status”;

 

17

  • in the principal rules to FORMS, –

 

  1. with effect from the 1st July of 2017, for “FORM GST ENR-01”, the following FORM shall be substituted and shall be deemed to be have been substituted, namely:-

 

 

 

“FORM GST ENR-01

 

[See rule 58(1)]

Application for Enrolment under section 35 (2)
[only for un-registered persons]
1. Name of the State
2. (a) Legal name
(b) Trade Name, if any
(c) PAN
(d) Aadhaar (applicable in case of
proprietorship concerns only)
3. Type of enrolment
(i) Warehouse or Depot (ii) Godown
(iii) Transport services (iv) Cold Storage
4. Constitution of Business (Please Select the Appropriate)
(i) Proprietorship or HUF (ii) Partnership
(iii) Company (iv) Others
5. Particulars of Principal Place of Business
(a) Address
Building No. or Flat No. Floor No.
Name of the Road or Street
Premises or Building
City or Town or Locality or Taluka or Block
Village
District
State PIN Code
Latitude Longitude
(b) Contact Information (the email address and mobile number will be used for authentication)
Email Address Telephone STD
18
Mobile Number Fax STD
  • Nature of premises

 

Own Leased Rented Consent Shared Others (specify)
  1. Details of additional place of business – Add for additional place(s) of business, if any(Fill up the same information as in item 5 [(a), (b), and (c)]

 

  1. Consent

 

I on behalf of the holder of Aadhaar number <pre-filled based on Aadhaar number provided in the form> give consent to “Goods and Services Tax Network” to obtain my details from UIDAI for the purpose of authentication. “Goods and Services Tax Network” has informed me that identity information would only be used for validating identity of the Aadhaar holder and will be shared with Central Identities Data Repository only for the purpose of authentication.

 

  1. List of documents uploaded (Identity and address proof)

 

  1. Verification

 

I hereby solemnly affirm and declare that the information given herein above is true and correct to the best of my knowledge and belief and nothing has been concealed therefrom.

 

 

 

Place: Signature
Date: Name of Authorised Signatory
For Office Use:
Enrolment no Date- ”.

 

  1. with effect from the 1st day of July, 2017 for “FORM GST RFD-01”, the following FORM shall be substituted and shall be deemed to be have been substituted, namely:-

 

“FORM-GST-RFD-01

 

[See rule 89(1)]

 

Application for Refund

 

(Applicable for casual or non-resident taxable person, tax deductor, tax collector, un-registered person and other registered taxable person)

 

  1. GSTIN / Temporary ID
  2. Legal Name

 

  1. Trade Name, if any

 

  1. Address

 

 

19

5. Tax period From <Year><Month> To <Year><Month>
(if applicable)
6. Amount of Act Tax Interest Penalty Fees Others Total
Refund Claimed
(Rs.)
Central tax
State  /  UT
tax
Integrated tax
Cess
Total
7. Grounds of (a) Excess balance in Electronic Cash Ledger
refund claim (b) Exports of services- with payment of tax
(select from drop (c) Exports of goods / services- without payment of tax (accumulated
down) ITC)
(d) On account of order
Sr. Type of order Order Order Order Payment
No. no. date Issuing reference
Authority no., if
any
(i) Assessment
(ii) Provisional
assessment
(iii) Appeal
(iv) Any other
order
(specify)
(e) ITC accumulated due to inverted tax structure
[clause (ii) of first proviso to section 54(3)]
(f) On account of supplies made to SEZ unit/ SEZ developer
(with payment of tax)
(g) On account of supplies made to SEZ unit/ SEZ developer
(without payment of tax)
(h) Recipient of deemed export
(i) Tax paid on a supply which is not provided, either wholly or
partially, and for which invoice has not been issued (tax paid on
advance payment)
(j) Tax paid on an intra-State supply which is subsequently held to be
inter-State supply and vice versa(change of POS)
(k) Excess payment of tax, if any
(l) Any other (specify)
8. Details  of  Bank Name of Address of IFSC Type of Account No.
account bank branch account
9. Whether Self-Declaration filed by Applicant u/s 54(4), Yes No
if applicable

 

 

 

 

20

 

DECLARATION [second proviso to section 54(3)]

 

I hereby declare that the goods exported are not subject to any export duty. I also declare that I have not availed any drawback on goods or services or both and that I have not claimed refund of the integrated tax paid on supplies in respect of which refund is claimed.

 

Signature

 

Name –

 

Designation / Status

 

 

DECLARATION [section 54(3)(ii)]

 

I hereby declare that the refund of input tax credit claimed in the application does not include ITC availed on goods or services used for making ‘nil’ rated or fully exempt supplies.

 

Signature

 

Name –

 

Designation / Status

 

 

DECLARATION [rule 89(2)(f)]

 

I hereby declare that the Special Economic Zone unit /the Special Economic Zone

 

developer has not availed of the input tax credit of the tax paid by the applicant, covered

 

under this refund claim.

 

Signature

 

Name –

 

Designation / Status

 

 

 

DECLARATION [rule 89(2)(g)]

 

(For recipients of deemed export)

 

I hereby declare that the refund has been claimed only for those invoices which have been reported in statement of inward supplies filed in Form GSTR-2 for the tax period for which refund is being claimed and the amount does not exceed the amount of input tax credit availed in the valid return filed for the said tax period. Signature

 

Name –

 

Designation / Status

 

 

 

 

21

 

 

——-

I ____________________ SELF- DECLARATION [rule 89(2)(l)] , solemnly affirm
(Applicant) having GSTIN/ temporary Id
and certify that in respect of the refund amounting to Rs.   / with respect— to the tax, interest,
or any other amount for the period from  to   , claimed in the——- refund application, the
incidence of such tax and interest has not been passed on to any other person.
Signature
Name –
Designation / Status

 

 

(This Declaration is not required to be furnished by applicants, who are claiming refund under clause (a) or clause (b) or clause (c) or clause (d) or clause (f) of sub-section (8) of section 54.)

 

 

 

 

  1. Verification

 

I/We <Taxpayer Name> hereby solemnly affirm and declare that the information given herein above is true and correct to the best of my/our knowledge and belief and nothing has been concealed therefrom.

 

I/We declare that no refund on this account has been received by me/us earlier.

 

Place

Signature of Authorised Signatory

 

Date

(Name)

 

Designation/ Status

 

 

 

Annexure-1

 

Statement -1 [rule 89(5)]

 

Refund Type: ITC accumulated due to inverted tax structure [clause (ii) of first proviso to section 54(3)]

 

(Amount in Rs.)
Turnover of Tax payable on Adjusted Net input tax Maximum refund
inverted rated such inverted total turnover credit amount to be claimed
supply of goods rated supply of [(1×4÷3)-2]
goods
1 2 3 4 5

 

 

 

 

22

Statement- 2 [rule 89(2)(c)]

 

Refund Type: Exports of services with payment of tax

 

(Amount in Rs.)

 

Sr. No. Invoice details Integrated tax BRC/ FIRC Integrated tax Integrated Net
No. Date Value Taxable Amt. No. Date involved in tax involved Integrated
value debit note, if in credit tax
any note, if any (6+9 – 10)
1 2 3 4 5 6 7 8 9 10 11

 

Statement- 3 [rule 89(2)(b) and 89(2)(c)]

 

Refund Type:Export without payment of tax (accumulated ITC)

 

(Amount in Rs.)

 

Sr. No. Invoice details Goods/ Shipping bill/ Bill of export EGM Details BRC/ FIRC
No. Date Value Services Port code No. Date Ref No. Date No. Date
(G/S)
1 2 3 4 5 6 7 8 9 10 11 12

 

Statement- 3A [rule 89(4)]

 

Refund Type: Export without payment of tax (accumulated ITC) – calculation of refund amount

 

(Amount in Rs.)
Turnover of zero rated Net input tax Adjusted total Refund amount
supply of goods and credit turnover (1×2÷3)
services
1 2 3 4

 

 

Statement-4 [rule 89(2)(d) and 89(2)(e)]

 

Refund Type:On account of supplies made to SEZ unit or SEZ Developer (on payment of tax)

 

(Amount in Rs.)
GSTIN of Invoice details Shipping bill/ Integrated Tax Integrated Integrated Net
recipient Bill of export/ tax tax Integrated
Endorsed involved involved tax
invoice by SEZ in debit in credit (8+ 9
No. Date Value No. Date Taxable Amt. note, if note, if 10)
Value any any
23

1                   2              3              4            5                6                      7                       8                      9                      10                     11

 

 

 

Statement-5 [rule 89(2)(d) and 89(2)(e)]

 

Refund Type:On account of supplies made to SEZ unit or SEZ Developer (without payment of tax)

 

(Amount in Rs.)
Sr. No. Invoice details Goods/ Services Shipping bill/ Bill of export/
(G/S) Endorsed invoice no.
No. Date Value No. Date
1 2 3 4 5 6 7

 

 

Statement-5A [rule 89(4)]

 

Refund Type:On account of supplies made to SEZ unit / SEZ developer without payment of tax (accumulated ITC) – calculation of refund amount

 

(Amount in Rs.)
Turnover of zero rated Net input tax credit Adjusted total Refund amount
supply of goods and turnover (1×2÷3)
services
1 2 3 4

Statement-6 [rule 89(2)(j)]

 

Refund Type: On account of change in POS of the supplies (inter-State to intra-State and vice versa)

 

Order Details (issued in pursuance of sections 77 (1) and (2), if any: Order No: Order
Date:
(Amount in Rs.)
GSTIN/ Details of invoices covering transaction considered as intra –State Transaction which were held inter State /
UIN / inter-State transaction earlier intra-State supply subsequently
Name
Invoice details Integrated Central State/ Cess Place of Integrated Central State/ Cess Place of
(in case tax tax UT Supply tax tax UT Supply
B2C) No.DateValueTaxable tax tax
Value
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15

 

24

 

 

Statement-7 [rule 89(2)(k)]

 

Refund Type: Excess payment of tax, if any in case of last return filed.

 

(Amount in Rs.)
Tax period ARN of Date of Tax Payable
return filing
Integrated tax Central State/ Cess
return
tax UT tax
1 2 3 4 5 6 7

 

 

 

Annexure-2

 

Certificate [rule 89(2)(m)]

 

 

 

This is to certify that in respect of the refund amounting to Rs.<<>> ————– (in words)
claimed by M/s—————– (Applicant’s Name) GSTIN/ Temporary ID——- for the tax
period < —->, the incidence of tax and interest, has not been passed on to any other person.

This certificate is based on the examination of the books of account and other relevant records and returns particulars maintained/ furnished by the applicant.

 

Signature of the Chartered Accountant/ Cost Accountant:

 

Name:

 

Membership Number:

 

Place:

 

Date:

 

Note – This Certificate is not required to be furnished by the applicant, claiming refund under clause (a) or clause (b) or clause (c) or clause (d) or clause (f) of sub-section (8) of section 54 of the Act.

 

 

Instructions –

 

  1. Terms used:

 

  • B to C:From registered person to unregistered person

 

(b) EGM:                                Export General Manifest

 

 

25

(c) GSTIN:

Goods and Services Tax Identification Number

 

(d) IGST:

Integrated goods and services tax

 

(e) ITC:

Input tax credit

 

(f) POS:

Place of Supply (Respective State)

 

(g) SEZ:

Special Economic Zone

 

(h) Temporary ID:

Temporary Identification Number

 

(i) UIN:

Unique Identity Number

 

  1. Refund of excess amount available in electronic cash ledger can also be claimed through return or by filing application.

 

  1. Debit entry shall be made in electronic credit or cash ledger at the time of filing the application.

 

  1. Acknowledgement in FORM GST RFD-02 will be issued if the application is found complete in all respects.

 

  1. Claim of refund on export of goods with payment of IGST shall not be processed through this application.

 

  1. Bank account details should be as per registration data. Any change in bank details shall first be amended in registration particulars before quoting in the application.

 

  1. Declaration shall be filed in cases wherever required.

 

  1. ‘Net input tax credit’ means input tax credit availed on inputs during the relevant period for the purpose of Statement-1 and will include ITC on input services also for the purpose of Statement-3A and 5A.

 

  1. ‘Adjusted total turnover’ means the turnover in a State or a Union territory, as defined under clause (112) of section 2 excluding the value of exempt supplies other than zero-rated supplies, during the relevant period.

 

  1. For the purpose of Statement-1, refund claim will be based on supplies reported in GSTR-

 

  • and GSTR-2.

 

  1. BRC or FIRC details will be mandatory where refund is claimed against export of services details of shipping bill and EGM will be mandatory to be provided in case of export of goods.

 

  1. Where the invoice details are amended (including export), refund shall be allowed as per the calculation based on amended value.

 

  1. Details of export made without payment of tax shall be reported in Statement-3.

 

 

 

 

 

26

  1. Availability of refund to be claimed in case of supplies made to SEZ unit or SEZ developer without payment of tax shall be worked out in accordance with the formula prescribed in rule 89(4).

 

  1. ‘Turnover of zero rated supply of goods and services’ shall have the same meaning as defined in rule 89(4).”;

 

  • with effect from the 1st day of July,2017, in “FORM GST TRAN-2”,-

 

  • in Serial No. 4, for the words “appointment date”, the words “appointed date” shall be substituted and shall be deemed to be have been substituted;
  • in Serial No. 5, for the words “credit on”, the words “credit of” shall be substituted and shall be deemed to be have been substituted.

 

 

 

 

[F. No. 349/58/2017-GST]

 

 

 

 

 

(Dr.Sreeparvathy S.L.)

 

Under Secretary to the Government of India

 

 

 

Note:- The principal rules were published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide notification No. 3/2017-Central Tax, dated the 19th June, 2017, published vide G.S.R number 610 (E), dated the 19th June, 2017 and last amended vide notification No. 22/2017-Central Tax, dated the 17thAugust, 2017, published vide G.S.R number 1023(E), dated the 17th August, 2017.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

27

​Respected Members
 
Please find attached herewith the circular on Taxation for your​ information.
  • Income Tax
  • GST
  • International Taxation
  • Company Law

Income Tax

 

CBDT hikes deposit to 20% for getting I-T demand stay:

Taxpayers who wish to file an appeal against income tax demands raised against them will have to shell out more to obtain a stay, pending disposal of their appeal with the Commissioner of I-T (Appeals). Corporate tax payers and HNIs, who face heavier I-T demands, will have to cough out more for obtaining a stay.

 

Approaching CIT (Appeals) is the first stage for obtaining redress, after which the appeal process, if further litigated, moves to the I-T appellate tribunals and courts.

 

In its recent office memorandum, the Central Board of Direct Taxes (CBDT) has prescribed a deposit of 20% of the disputed I-T demand by taxpayers for obtaining a stay pending disposal of the matter by the CIT (Appeals). Earlier, the aggrieved taxpayer had o deposit only 15% of the disputed I-T demand before approaching the CIT (Appeals).

(Source:http://economictimes.indiatimes.com/news/economy/policy/cbdt-hikes-deposit-to-20-for-gettng-it-demand-stay/articleshow/59910541.cms)

 

NRIs need not give account details if seeking no refund: CBDT

The non-resident Indians will not have to give details of their bank accounts held outside the country while filing their income tax returns, if they are not seeking refunds, the CBDT said. “It (providing details of foreign bank accounts) is not mandatory. It is optional. It is for cases where refund is sought,” CBDT Chairman Sushil Chandra told reporters on the sidelines of an event to celebrate the 157th Income Tax day here. The department’s top boss said this when asked to clarify if it was mandatory for Non- Resident Indians (NRIs) to provide the details of their foreign bank accounts in certain return forms like the ITR-2.

(Source:http://www.business-standard.com/article/pti-stories/nris-need-not-give-account-details-ifseeking-no-refund-cbdt-117072401252_1.html)

 

25% growth in number of Income Tax Returns filed in current fiscal

As a result of demonetization and Operation Clean Money, there is a substantial increase in the number of Income Tax Returns (ITRs) filed. The number of Returns filed as on 05.08.2017 stands at 2,82,92,955 as against 2,26,97,843 filed during the corresponding period of F.Y. 2016-2017, registering an increase of 24.7% compared to growth rate of 9.9% in the previous year. The growth in returns filed by Individuals is 25.3% with 2,79,39,083 returns having been received upto 05.08.2017 as against 2,22,92,864 returns in the corresponding period of F.Y. 2016-2017. This clearly shows that substantial number of new tax payers have been brought into the tax net subsequent to demonetization.

 

The effect of demonetization is also clearly visible in the growth in Direct Tax Collections. Advance Tax collections of Personal Income Tax (i.e. other than Corporate Tax) as on 05.08.2017 showed a growth of about 41.79% over the corresponding period in F.Y. 2016-2017. Personal Income Tax under Self- Assessment Tax (SAT) grew at 34.25% over the corresponding period in F.Y. 2016-2017.

 

The above figures amply demonstrate the positive results of the Government’s commitment to fight the menace of black money. CBDT is committed in its resolve to eradicate tax evasion in a non intrusive manner and widening of tax base.

(Source:https://incometaxindiaefiling.gov.in/efiling/portal/staticpdf_news/press-release-advancetaxcollecyions-07- 08-2017.pdf)

 

Income-Tax Department to Write Off irrecoverable tax demands to reduce ‘Bad Debts’

The Directorate of Income-tax (Recovery & TDS) has addressed a directive dated 10th July 2017 in which it has stated that in order to expedite the reduction of bad debts of the Government and the Department, the Directorate of Recovery has compiled a list of a total of 186 cases pending for Write-Off of Rs.25 lakhs and above as on 01.04.2016 in different charges across India.

(Source: http://www.itatonline.org)

 

GST (Goods & Service Tax)

Clarifications on Export Procedure – furnishing of Bond/Letter of Undertaking (LUT)

The Government has issued a number of notifications / circulars, related to procedure for Export under GST Regime. Two options are given for export – with / without payment of tax (IGST) and subject to fulfilment of certain conditions. In case of option for export without payment of IGST, the supplier has to furnish prior to export, a Bond or Letter of Undertaking (LUT) in prescribed form to the tax authorities. Under the 2nd option, the supplier has to first pay IGST on export and then claim refund of such tax paid. Following are the eligibility conditions and procedures in brief:

 

Letter of Undertaking (LUT)

Eligibility:

Registered person shall be eligible for submission of Letter of Undertaking in place of a bond:-

  • If the registered person is a status holder as specified in paragraph 5 of the Foreign Trade Policy 2015-2020; or
  • If the registered person, has received the due foreign inward remittances amounting to a minimum of 10% of the export turnover, which should not be less than one crore rupees, in the preceding financial year.

And such a person should not have been prosecuted for any offence under the CGST Act or any existing law where the amount of tax evaded exceeds Rs. 250 Lakhs. Procedure for LUT: Following documents to be submitted to the jurisdictional commissioner-

  • Form GST RFD-11 to be executed on the letter head of the company
  • LUT to be executed on the letter head of the company by the working partner, the Managing Director, the Company Secretary, the Proprietor or by a person duly authorized as the case may be
  • Bank confirmation for the foreign inward remittances – Self-attested sample Bank Realization Certificate (BRC) copy/FIRC
  • Other documents as may be prescribed by the relevant jurisdictional officer like Copy of PAN, Copy of Provisional GST Registration Certificate, IEC Certificate etc.

 

Bond

Eligibility:

All other registered persons, who are not eligible for LUT.

Procedure for Bond: Following documents to be submitted to the jurisdictional commissioner-

  • Form GST RFD-11 to be executed on the letter head of the company
  • Bond to be furnished on non-judicial stamp paper of Rs.500/- and duly notarized along with Bank Guarantee
  • Bond amount shall be equal to the IGST amount calculated on estimated export turnover to be made in the financial year
  • Bank Guarantee shall not exceed 15%of the Bond Amount
  • Other documents as may be prescribed by the relevant jurisdictional officer like Copy of PAN, Copy of Provisional GST Registration Certificate, IEC Certificate etc.

 

Time for acceptance of LUT/Bond:

As per the clarification provided, as LUT/bond is a priori requirement for export, including supplies to a SEZ developer or a SEZ unit, the LUT/bond should be processed by the authorities on top most priority and should be accepted within a period of three working days from the date of submission of LUT/bond along with complete documents by the exporter.

(Circular 26/2017-Customs – Dated July 1, 2017

Circular No. 2/2/2017-GST – Dated July 4, 2017

Notification No. 16/2017-Central Tax, Circular No. 4/4/2017-GST – Dated July 7, 2017

Circular No. 5/5/2017 – GST – Dated August 11, 2017)

 

Important upcoming GST Reporting:

Sr. No Month Type of Reporting Due Date
1 July 2017 Summary Return – FORM GSTR-3B Aug 20th , 2017
2 Aug 2017 Summary Return – FORM GSTR-3B Sept 20th , 2017
3 July 2017 Filing of details of outward supplies in FORM GSTR-1 S Sept 5th , 2017
4 Aug 2017 Filing of details of outward supplies in FORM GSTR-1 Sept 20th, 2017
5 July 2017 Matching Input Tax Credit in FORM GSTR-2 Sept 10th 2017
6 Aug 2017 Matching Input Tax Credit in FORM GSTR-2 Sept 25th 2017
7 July 2017 Filing of details in FORM GSTR-3 Sept 15th 2017
8 Aug 2017 Filing of details in FORM GSTR-3 Sept 30th 2017

International Tax

 

A foreign company constitutes a service PE in India under the India-UAE tax treaty. Services provided in the form of sharing or permitting to use the special knowledge or expertise falls within the term ‘royalty’ under the tax treaty

Based on the facts and in the circumstances of the case, recently, the Bengaluru Bench of the Income- tax Appellate Tribunal (the Tribunal) in the case of ABB FZ-LLC (the taxpayer) held that the taxpayer had a Service Permanent Establishment in India since the taxpayer has been furnishing services to the Indian company even without any physical presence of its employees in India. In the present age of technology where services, information, consultancy, management, etc. can be provided with various virtual modes such as email, internet, video conference, remote monitoring, remote access to the desktop, etc., through various software. It is not the stay of the employees for more than nine months, but it is rendering of services or activities which are required to be rendered for a period of nine months. Service PE is not dependent upon the fixed place of business as it is only dependent upon the continuation of the activity.

 

The Tribunal also held that the services provided by the taxpayer were in the form of sharing or permitting to use the special knowledge, expertise and experience of the taxpayer and it falls under the term ‘royalty’, under Article 12(3) India-UAE tax treaty (the tax treaty). The visits of the officials of the taxpayer were only for the purposes of providing access for using the information pertaining to industrial/commercial/scientific experience and to help commercially exploit it. The dominant character of agreement between the taxpayer and Indian company was for sharing the secret, confidential and Intellectual Property Rights information made available. The Tribunal observed that tax treaty clearly uses the word for the ‘use of’ or ‘right to use of’, commercial, scientific equipment and has not used the word either ‘imparting’ or ‘alienation’ of knowhow. The language used in the tax treaty is plain and unambiguous, and therefore the reading of words ‘alienation’ or ‘imparting’ of know-how in the tax treaty would not be permissible.

(ABB FZ-LLC v. DCIT (ITA(TP) No. 1103/Bang/2013) – Taxsutra.com)

 

Remuneration received in India by nonresident taxpayer for services rendered outside India not taxable in India

As per the provisions of Income-tax Act, 1961, taxation of income of an individual depends on his residential status in India during the particular year and when such income is due or received. Based on the facts and in the circumstances of the case, recently the Calcutta High Court in the case of Sumana Bandyopadhyay & Anr. (the taxpayer) held that salary received by a Non-resident taxpayer in his Non-Resident (External) bank account in India for the services rendered outside India shall not be includible in his taxable income.

(Sumana Bandyopadhyay & Anr. V. DDIT (GA 3745 of 2016 with ITAT 374 of 2016)

 

 

 

 

 

 

 

 

 

 

Company Law

 

Clarification on notification No. G.S.R. 583(E) dated 13th June, 2012

Stakeholders have drawn attention of this Ministry to the serial no. 5 of notification No. G.S.R. 583(E) dated 13th June, 2012 which states that requirements of reporting under section 143(3)(I) of the Companies Act 2013 shall not apply to certain private companies as mentioned therein and have sought clarification w.r.t. the financial year(s) in respect of which the said exemption shall be applicable. The issue has been -examined in the Ministry and it is hereby clarified that the exemption shall be applicable for those audit reports in respect of financial statements pertaining to financial years commencing on or after 1st Aprll,2016, which are made on or after the date of the said notification.

http://www.mca.gov.in/ministry/pdf/generalcircular8_25072017.pdf

 

​Dear Members,
Last Date for Payment of GST and Filing of Return For July 2017 Extended By 5 Days

 

The GST Implementation Committee, consisting of State and Central Government officers, has taken a decision to extend the last date for payment of the GST for the month of July 2017 to 25th August, 2017.  
 
Earlier the last date for payment of taxes and filing of GST Return in Form 3B for the month of July was kept as 20th of August 2017.  Since it is the first Return to be filed under GST, the tax payers and the tax practitioners have requested for few more days to file their Return.  Also there have been requests from States which are hit with floods to extend the last date for filing of GST Returns.  The State of Jammu & Kashmir has also requested for extension of time because of late passing of their GST Ordinance. Some technical glitches are also experienced by last minute return filers.  
 
It has been specified that for those tax payers, who do not want to avail of transitional credit in TRANS1 this month, the date for return filing will be 25th August 2017.  And for those who want to fill up TRANS1 this month, the last date for filing of returns will be 28th August 2017, as announced earlier. In order not to face any last moment technological difficulty in submission of return, all tax payers are requested to kindly file their return well before 25th / 28th of August 2017 and not wait for the last date. Suitable notification is being issued shortly.

 

Dear Members,
GSTR-3B date extended for those opting to avail transitional credit
The GST Council had earlier decided to defer the filing of return in Form GSTR-3 and had recommended the filing of return in Form GSTR-3B for the month of July and August, 2017. Accordingly, the Central Government vide Notification No. 21/2017-Central Tax dated August 8, 2017 had notified the last date for filing of return in Form GSTR-3B for the month of July, 2017 as August 20, 2017.
Recently, concerns have been raised by the trade about availability of transitional credit for discharging the tax liability for the month of July, 2017 as there was no separate column for the same in Form GSTR-3B. In this regard, the Commissioner on recommendations of the GST Council vide Notification No. 23/2017-Central Tax dated August 17, 2017 read with Press Releases dated August 17, 2017, has specified the date and conditions for filing the return in Form GSTR-3B in the following manner:
Sl. No.
Class of registered persons
Last date for furnishing of return in Form GSTR-3B
Conditions
A.
Registered persons entitled to avail input tax credit (“ITC”) in terms of section 140 of the CGST Act, 2017 readwith Rule 117 of the CGST Rules, 2017 but opting not to file Form GST TRAN-1 on or before the August 28, 2017
August 20, 2017
——
B.
Registered persons entitled to avail ITC in terms of section 140 of the CGST Act, 2017 readwith Rule 117 of the CGST Rules, 2017 and opting to file Form GST TRAN-1 on or before the August 28,2017
August 28, 2017
  1. Compute the “tax payable” for the month of July, 2017 and deposit the same in cash on or before the August 20, 2017, which will get credited to electronic cash ledger;
  2. File Form GST TRAN-1 (which will be available on the common portal from August 21, 2017) before the filing of Form GSTR-3B;
  3. Where the amount of tax payable for the month of July, 2017, as detailed in the return furnished in Form GSTR-3B, exceeds the amount of tax deposited in cash as per item (i), the registered person shall pay such excess amount in cash on or before August 28, 2017 along with the applicable interest @18% calculated from the 21st day of August, 2017 till the date of such deposit. This amount will also get credited to electronic cash ledger.
  4. File the return in Form GSTR-3B on or before August 28, 2017 after discharging the tax liability by debiting the electronic credit or cash ledger.
C.
Any other registered person
August 20, 2017
——
Steps to be followed in aforementioned Case A& C: Assessee not opting to avail transitional credit
Where registered persons planning not to avail transitional credit for discharging the tax liability for the month of July, 2017 or new registrants who do not have any transitional credit to avail, need to follow the steps as detailed below:
  1. Calculate the tax payable as per the following formula:
Tax payable = (Output tax liability + Tax payable under reverse charge) – input tax credit availed for the month of July, 2017;
  1. Tax payable as per (i) above to be deposited in cash on or before August 20, 2017 which will get credited to electronic cash ledger;
  2. File the return in FORM GSTR-3B on or before August 20, 2017 after discharging the tax liability by debiting the electronic credit or cash ledger.
Steps to be followed in aforementioned Case B: Assessee opting to avail transitional credit
Registered persons planning to avail transitional credit for discharging the tax liability for the month of July, 2017 need to follow the steps as detailed below:
  1. Calculate the tax payable as per the following formula:
Tax payable = (Output tax liability + Tax payable under reverse charge) – (transitional credit + input tax credit availed for the month of July, 2017);
  1. Tax payable as per (i) above to be deposited in cash on or before August 20, 2017 which will get credited to electronic cash ledger;
  2. File FORM GST TRAN-1 (which will be available on the common portal from August 21, 2017) before filing the return in FORM GSTR-3B;
  3. In case the tax payable as per the return in FORM GSTR-3B is greater than the cash amount deposited as per (ii) above, deposit the balance in cash along with interest @18% calculated from August 21, 2017 till the date of such deposit. This amount will also get credited to electronic cash ledger;
  4. File the return in FORM GSTR-3B on or before August 28, 2017 after discharging the tax liability by debiting the electronic credit or cash ledger
Please click below for details: