Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
GST - Highlights / Catch Notes

Home Highlights November 2017 Year 2017 This

Issue of consolidated tax invoice in case of banking company, ...


GST Rule Change: Banking Companies and NBFCs Now Have Discretion in Issuing Consolidated Tax Invoices.

November 17, 2017

Act Rules     GST

Issue of consolidated tax invoice in case of banking company, NBFC etc. - For the words “supplier shall issue”, the words “supplier may issue” substituted

View Source

 


 

You may also like:

  1. The core summary is that banks constituted as 'corresponding new banks' under the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 are not covered...

  2. The circular addresses the entitlement of Input Tax Credit (ITC) by insurance companies on repair expenses for motor vehicles in reimbursement mode of claim settlement....

  3. The Supreme Court held that the acquiring bank should pay service tax on the entire Merchant Discount Rate (MDR), which includes the interchange fee payable to the...

  4. Penalty for false invoice - Section 55(2) AP VAT Act states that any VAT dealer, who issues a false tax invoice or receives and uses a tax invoice, knowing it to be...

  5. Rule 6 (7B) of the Service Tax Rules, 1994 - consolidated invoice issued covering all the transactions in a particular month - Whether law permits different service tax...

  6. Income Tax: Clause 15 proposes to remove references to National Housing Bank from Section 43D of the Act and its Explanation, pertaining to income of public financial...

  7. EXEMPTIONS TO PRIVATE COMPANIES UNDER COMPANIES ACT 2013 – IMPACT ANALYSIS - Corporate Laws / Banking / SEBI / LLP

  8. External Commercial Borrowings (ECB) Policy – Non-Banking Financial Company – Infrastructure Finance Companies (NBFC-IFCs) - Circular

  9. The case involves TDS issues u/s 194A, 194H, and 194J concerning surplus interest retained by NBFCs. The assessee, a bank, purchased loans from NBFCs with a tripartite...

  10. The case involved the determination of penalty u/s 69(1)(k) of the J&K Value Added Tax Act, 2005 for the issuance of 35 improper invoices on the same day. The High Court...

  11. Jurisdiction to issue show cause notice (SCN), authority adjudicating the matter despite being different from the issuing authority, admissibility of CENVAT credit based...

  12. The applicant, acting as an aggregator for diagnostic and lab services provided through third-party diagnostic labs, is liable to collect GST on the entire invoice...

  13. Non-Banking Financial Company (NBFC) categorization - Amendment made in sec 43B and 43D to substitute the words, “a deposit taking non-banking financial company or...

  14. Levy of penalty u/s 129(5) of GST Act for discrepancy between PIN code of petitioner in Tax Invoices and E-Way Bill. Court held minor discrepancy in PIN code in GST...

  15. A banking company or a financial institution or NBFC are allowed to issue single consolidated tax invoice for the supply of services made during a month at the end of...

 

Quick Updates:Latest Updates