NO TDS on GST Paid or Payable on Services when GST is Separately Shown in the Invoice

NO TDS on GST Paid or Payable on Services when GST is Separately Shown in the Invoice

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CBDT had issued Circular No 1/2014 wherein it was clarified that TDS had to be deducted on the amount paid/payable without including service Tax component.In other words, no TDS would be deducted on Service Tax Component when amount of service tax Component is shown separately in the Invoice.

After Implementation of GST across the country w.e.f 1st July, 2017, CBDT has received various references for treatment of GST component on Services. Now the CBDT has clarified vide Circular No. 23/2017 that if as per terms of the agreement of the payee and payer “GST on Services” component has been indicated separately in the invoice, then no tax would be deducted on GST component. GST will include CGST, SGST, IGST, UTGST.

This Circular clarifies the doubt arisen after Implementation of GST. The Circular is on the logical conclusion that there cannot be any TDS on GST. The Circular could be best explained through the following Examples..

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EXAMPLE 1
Amount (Rs)
Value of Services- Intra state

CGST

SGST
.
.

Gross Value of Invoice

.
.
9%
.
9%
.
.
9,000
.
9,000
100,000

.
.
.
18,000
.

118,000

TDS Deductible on

TDS u/s 194J

.
.
10%
100,000
.
10,000

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EXAMPLE 2
Amount (Rs)
Value of Services- Inter state

IGST
.

Gross Value of Invoice

.
.
18%
.
.
18,000
100,000

.
18,000

118,000

TDS Deductible on

TDS u/s 194J

.
.
10%
100,000

10,000

.

.

 


EXAMPLE 3
Amount (Rs)
Value of Services- UT

CGST

UGST
.

Gross Value of Invoice

.
.
9%
.
9%
.
.
9,000
.
9,000
100,000
.
.
.
.
18,000
.
118,000
TDS Deductible on

TDS u/s 194J

.
.
10%
100,000
.
10,000

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EXAMPLE 4
Amount (Rs)
Value of Services (Inclusive of Taxes)

CGST

UGST
.
.

Gross Value of Invoice

.
.
.
Not Charged
Separately
118,000
.
.
.
—–.
.
.
.
.118,000
TDS Deductible on

TDS u/s 194J

.
.
10%
118,000
.
11,800

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Regards
ACA SOURAV BAGARIA

CA Final Result Declared MAY 17 Exams Rank holders & Pass Percentage

CA Final Result Declared MAY 17 Exams Rank holders & Pass Percentage

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check-ca-final-result-with-auto-refresh-300x175

CA Final Result Declared. Hey guys ICAI has declared Result of CA Final Students as well as of CA CPT Students on their official website on 18 July 2017. It was the day for which most of the CA students were waiting for about 2 months after their exams held in May 2017

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CHECK YOUR RESULT HERE

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Team CA_GROUPS gives their Heartiest congratulations to all the CA Final students who have cleared their exams today. Further we give our Warm wishes to new CA Aspirants who have cleared their CA CPT and entered into real CA Course today.
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Here we would like to inform all the students who had cleared their CA Final today that ICAI had already declared the dates for Campus Placements in the month of August September for different cities. You can see all the dates and other essential information from here:- CA Campus Placement Programme
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But Some students (or we can say most after knowing the pass percentage) who were not able to clear the exams due to Low pass percentage by the ICAI or some other students we would like to quote famous line for Ca Students
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“Where there is a will, there is a way – but for a CA Student After November there is a May”
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Students who are not satisfied with their result may go for Revaluation/Rectification of their Exam Papers. The full procedure to do the same is elaborated by the Team CA_GROUPS here :- Procedure of Revaluation and verification of CA IPCC Final Exams

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CA Final Pass Percentage of May 2017 Exams

The pass percentage of students passed in the exams are given as below for your kind reference

S.No Candidates Appeared For Appeared Passed Pass %age
1 Group – I Only  13.82%
2 Group – II Only  16.26%
3 Both Groups  22.98%

CPT Result –

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Rank Holders of CA Final May 2017 Exams

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RANKHOLDER RANK 1 RANK 2 RANK 3
NAME RAJ PRESH SETH  AGATHISWARAN S  KRISHNA PAWAN GUPTA 
ROLL NO. 214824 223088 188858
MARKS 630/800  602/800  601/800
MARKS % 78.75%  75.25%  75.13%
PHONE NO 9699111783  9487303160  8879995121 
LOCATION DOMBIVALI  VELLORE  MUMBAI 

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The pass percentage of students passed in the previous exams are given as below for your kind reference.

CA Final Pass Percentage of Nov 2016 Exams

The pass percentage of students passed in the exams are given as below for your kind reference

 

S.No Candidates Appeared For Appeared Passed Pass %age
1 Group – I Only 37,200 2,655 7.14%
2 Group – II Only 36,896 4,545 12.32%
3 Passed one of the Groups/Both Groups 36,768 4,256 11.57%

CPT Result – 46.44%

Rank Holders of CA Final Nov 2016 Exams

RANKHOLDER RANK 1 RANK 2 RANK 3
NAME  Eti Agarwal  Piyush Ramesh Lohia  Jyothi Mukeshbhai Maheshwari
ROLL NO.  877769  816386  804061
MARKS  599/800  574/800  566/800
MARKS %  74.88%  71.75%  70.75%
PHONE NO  9582872944  8983303946  9924750412
LOCATION  Lucknow  Bhiwandi  Ahmedabad

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CA Final Nov 16 Rank holders Mark Sheets 

ca-final-nov-2016-topper-1

CA FINAL RANKHOLDER 1

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ca-final-nov-2016-topper-2

CA FINAL RANKHOLDER 2

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ca-final-nov-2016-topper-3

CA FINAL RANKHOLDER 3

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The pass percentage of students passed in the previous exams are given as below for your kind reference.

CA Final Pass Percentage of May 2016 Exams

The pass percentage of students passed in the exams are given as below for your kind reference.

GROUP CANDIDATES PASS %
APPEARED PASSED
FIRST  77374  14092  18.21%
SECOND  77086  14474  18.77%
BOTH  40180  4565  11.36%

CPT Result – 38.98%

Rank Holders of CA Final May 2016 Exams

RANKHOLDER RANK 1 RANK 2 RANK 3
NAME  SRI RAM S  KANTHETI NAGA YASH MANOJKUMAR GOYAL 
ROLL NO.  507614  522591 402033 
MARKS  613 610  599 
MARKS %  76.33 76.25  74.88 
PHONE NO  9087805505 8187022829  9033355949 
LOCATION  SALEM VAYYURU VIJAYWADA  JAMNAGAR 

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CA Final Pass Percentage of NOV 2015 Exams

The pass percentage of students passed in the exams are given as below for your kind reference.

GROUP CANDIDATES PASS %
APPEARED PASSED
FIRST  77442  9764 12.61%
SECOND  75774  9084 11.99%
BOTH  42469  2440 5.75%

 

CPT Result – 34.45%

Rank Holders of CA Final NOV 2015 Exams

RANKHOLDER RANK 1 RANK 2 RANK 3
NAME JAMES JOHN NAGOLU MOHAN KUMAR AVINASH SENCHETI
ROLL NO. 121050 217428 168097
MARKS 595 572 566
MARKS % 74.38 71.5 70.75
PHONE NO 9791096770 8686303877 9038995110
LOCATION CHENNAI TIRUPATI KOLKATA

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CA Final Pass Percentage of MAY 2015 Exams

The pass percentage of students passed in the exams are given as below for your kind reference.

GROUP CANDIDATES PASS %
APPEARED PASSED
FIRST  72874 8317  11.41%
SECOND  77941 12894   16.54%
BOTH  42847 3538   8.26%

Rank Holders of CA Final MAY 2015 Exams

PARTICULARS RANK 1 RANK 1 RANK 2 RANK 3
NAME Shailee Chaudhary Rahul Aggarwal Chitturi Lakshmi Anusha Deval Badresh Modi
ROLL NO. 130814 148780 214475 184179
MARKS 606 606 584 575
MARKS % 75.75 75.75 73 71.88
PHONE NO 9911139688 9705602164 8121417703 9969086233
LOCATION New Delhi Secundrabaad Machilipatnam Mumbai

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CA Final Pass Percentage of November 2014 Exams

GROUP CANDIDATES PASS %
APPEARED PASSED
FIRST  64972  15208  23.41%
SECOND  66552  6830  10.26%
BOTH  36254   2983  8.23%

Rank Holders of CA November 2014 Exams

PARTICULARS RANK 1 RANK 2 RANK 3
NAME  SANJAY NAWANDHAR  KUNAL JETHANI  HARSHA
ROLL NO.  142217  147012  179988
MARKS  583  580  574
MARKS %  72.88  72.50  71.75

 

CA CPT Result and Pass Percentage June 2017

CA CPT Result and Pass Percentage June 2017

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ICAI has declared date of CA CPT results date. This date of CA CPT Result is predicted by us a month back by our analysis of past results. Do look at our analysis what we predicted earlier. We will also share CA CPT Pass percentage along with result on 18th of July. In this post we will share with you :-

  • CA CPT and Final Result Date
  • CA CPT and IPCC Result Date of Past YearS
  • Facts about CA CPT Result
  • CA CPT Pass percentage June 2017 ( Expected )
  • What you can expect from CA CPT Results

 

CA CPT Result date of Past years

Attempt Paper End Date CA CPT Result Date CA IPCC Result Date
May-16 17th May 2016 18th july 2016 2nd Aug 2016
Nov-15 17th Nov 2015 17th Jan 2016 1st Feb 2016
May-15 17th May 2015 17th July 2015 31st July2015
Nov-14 Exams Postponed
May-14 9th June 2014 8th Aug 2014 21st Aug 2014
Nov-13 21st Nov 2013 15th Jan 2014 31st Jan 2014
May-13 16th May 2013 16th July 2013 31st July 2013

 

You can see from past trends CA CPT Result will either come on 16 or 17 or 18 th of July. ICAI has announce date of CA Final and CPT by official notification and CA CPT and Final result will be announced on 18th of July 2017. You can check the official notification on icai.org also here- READ NOTIFICATION

 

CA CPT Pass Percentage for Previous Attempts :-

Below arranged Pass percentage of previous CA CPT Exam results for you. This contains Past year CPT result of Last 25 Attempts for your download. After this we have also shared some facts about these result figures of CPT.

Exam Term Appeared Passed % age
CPT Jun-16 107058 41727 38.98
CPT Dec-15 99077 34129 34.45
CPT Jun-15 128916 32619 25.3
CPT Dec-14 100957 14880 14.74
CPT Jun-14 130291 37303 28.63
CPT Dec-13 113553 42706 37.61
CPT Jun-13 138746 37489 27.02
CPT Dec-12 111961 30305 27.07
CPT Jun-12 149348 56091 37.56
CPT Dec-11 115984 40975 35.33
CPT Jun-11 139226 46372 33.31
CPT Dec-10 122639 31878 25.99
CPT Jun-10 127643 35168 27.55
CPT Dec-09 117001 41411 35.39
CPT Jun-09 112788 37808 33.52
CPT Dec-08 89026 34201 38.42
CPT Jun-08 76026 28751 37.82
CPT Feb-08 56307 5799 10.3
CPT Nov-07 74130 13203 17.81
CPT Aug-07 77691 28753 37.01
CPT May-07 42849 13786 32.17
CPT Feb-07 33141 13384 40.39
CPT Nov-06 27645 18363 66.42

 

Facts About CA CPT Results :

  • Fact # 1 Average Pass Percentage of CA CPT Exams is 32.3% in Last 23 Attempts.
  • Fact # 2 Highest Pass Percentage of CA CPT Exams is 66.42 in Nov 2016
  • Fact # 3 Lowest Pass Percentage in CA CPT Result is 10.3 in Feb 2008
  • Fact # 4 Highest number of students got cleared in CA CPT were in June 2012, In that attempt 56091 students passed in CA CPT course
  • Fact # 5 Lowest number of students got cleared in CA CPT were in Feb 2008, In that attempt 5799 students passed in CA CPT course

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Expectations from CA CPT Result June 2017 : CA CPT PASS PERCENTAGE

CA results should probably come with the tag line “expect the unexpected ” it is the most unpredictable part of ca examination pattern and nothing happens as per expectation. I hope maximum of you would agree on this. In such a situation it is very important to be practical and be wide minded when it comes to acceptance. You might pass when u least expected it and can be overwhelming. You can fail after you thought you nailed it! This is how it is

The first lesson this teaches us is that its not just about what u think or u feel. It is more about what matters and here results have nothing to do with what u feel but is more to do with how u performed and how correct the same was. Coming Back to point, you can expect around 30-32 % Pass percentage this time as CPT will be abolished from CA Course after some time. Focus is to clear more and more students from old CPT course .

CA CPT Pass percentage June 2017 30 % – 32%

 

CA CPT Past year Result Trend analysis :

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Extract of Official Notification by ICAI Regarding CA CPT June 2017 result :

The result of the CA Final Exam held in May 2017 and CPT held in June 2017 will be declared on Tuesday, the 18th of July 2017 around 2.00 P.M. Same as well as the merit list (candidates securing a minimum 55%  and upto 50th Rank in the case of Final Examination in accordance with the decision of the Examination Committee) on all India basis.

Official Website to see CA CPT Result June 2017 :

Officially CA CPT Result for June 2017 exam  will be declared  on the following website: CA Result Website

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How to get your CA CPT Result on your Mobile through SMS :

For getting CA results through SMS, students should type:

  1. i) for Final Examination result the following

CAFNL(space)XXXXXX (Where XXXXXX is the six digit Final examination roll number of the candidate) e.g. CAFNL 000128

  1. ii) for Common Proficiency Test result the following

CACPT(Space)XXXXXX (Where XXXXXX is the six digit Common Proficiency Test roll number of the candidate
e.g. CACPT 000171 and send the message to:  58888 – for all mobile services – India Times

 

Summary: CA CPT RESULT for june 2017 will be declare on 18th July 2017  at 2:00 pm on icaiexam.icai.org. Students can opt for SMS service free of cost by sending a text message on 58888. Expected Pass percentage of CA CPT June 2017 exams will be 30% – 32 %

 

Do share this with your friends and keep visiting CA GROUPS for more such updates and analysis. You can share your views in below comments

 

Thank You !!

Gifts upto Rs 50000 by employer to employee outside GST ambit

Gifts upto Rs 50000 by employer to employee outside GST ambit

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Gifts up to a value of Rs 50,000/- per year by an employer to his employee are outside the ambit of GST. However, gifts of value more than Rs 50,000/- made without consideration are subject to GST, when made in the course or furtherance of business. 

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It is being reported that gifts and perquisites supplied by companies to their employees will be taxed under GST. Gifts upto a value of Rs 50,000/- per year by an employer to his employee are outside the ambit of GST. However, gifts of value more than Rs 50,000/- made without consideration are subject to GST, when made in the course or furtherance of business.

The question arises as to what constitutes a gift. Gift has not been defined in the GST law. In common parlance, gift is made without consideration, is voluntary in nature and is made occasionally. It cannot be demanded as a matter of right by the employee and the employee cannot move a court of law for obtaining a gift.

Another issue is the taxation of perquisites. It is pertinent to point out here that the services by an employee to the employer in the course of or in relation to his employment is outside the scope of GST (neither supply of goods or supply of services). It follows therefrom that supply by the employer to the employee in terms of contractual agreement entered into between the employer and the employee, will not be subjected to GST. Further, the Input Tax Credit (ITC) Scheme under GST does not allow ITC of membership of a club, health and fitness centre [section 17 (5) (b) (ii)]. It follows, therefore, that if such services are provided free of charge to all the employees by the employer then the same will not be subjected to GST, provided appropriate GST was paid when procured by the employer. The same would hold true for free housing to the employees, when the same is provided in terms of the contract between the employer and employee and is part and parcel of the cost-to-company (C2C).