"13 April 2017" Archive

GST: Draft Assessment and Audit Rules

Every registered person requesting for payment of tax on a provisional basis in accordance with the provisions of sub-section (1) of section 60 shall furnish an application in FORM GST ASMT-01, along with the documents in support of his request, electronically through the Common Portal, either directly or through a Facilitation Centre not...

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All about ITR-3 as applicable for A.Y. 2017-18

Instructions to Form ITR-3 (AY 2017-18)

ITR 3 Return Form is to be used by an individual or a Hindu Undivided Family who is carrying out a proprietary business or profession. This Return Form can be filed with the Income Tax Department in any of the following ways, -(i) by furnishing the return electronically under digital signature; (ii) by transmitting the data in the return...

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All about ITR-6 as applicable for A.Y. 2017-18

Instructions to Form ITR-6 (AY 2017-18)

ITR 6 Form for A.Y. 2017-18 can be used by a company, other than a company claiming exemption under section 11. This Form has to be compulsorily furnished electronically under digital signature to the Income Tax Department....

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In Amalgamation waiver of Interest is to be Treated as Income: SC

M/s. Mcdowel & Company Ltd. Vs Commissioner of Income Tax (Supreme Court of India)

This appeal is preferred against judgement dated 05.04.2005 of the High Court of Karnataka whereby the appeal of Commissioner of Income Tax (Revenue) was allowed setting aside the order to the Income Tax Appellate Tribunal(ITAT) which had granted the benefit of provisions...

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Circular No. 206/4/2017-Service Tax, Dated: 13.04.2017

Circular No. 206/4/2017-Service Tax (13/04/2017)

Issues related to levy of service tax on the services provided by a person located in non-taxable territory to a person located in non-taxable territory by way of transportation of goods by a vessel from a place outside India to the customs station in India...

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Notification No. 16/2017-Service Tax, Dated: 13.04.2018

Notification No. 16/2017-Service Tax (13/04/2017)

Seeks to amend Service Tax Rules, 1994 so as to,(i) Specify the importer as defined under clause (26) of section 2 of the Customs Act, 1962 (52 of 1962) of goods as the person liable for paying service tax in case of services provided or agreed to be provided by a person located in non-taxable […]...

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President approves all four GST Bills

Marking another landmark day, the Honble President, Mr. Pranab Mukherjee, has given his assent to the four key Goods and Services Tax (GST) Bills, after they were passed by the Parliament. The four GST Bills which are now enacted can be accessed as under...

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Title in Immovable Property cannot Pass unless executed on Proper Stamp Paper

Mother Hospital Pvt. Ltd Vs CIT (Supreme Court of India)

Title In The Immovable Property Cannot Pass When Its Value Is More Than Rs.100 Unless It Is Executed On A Proper Stamp Paper And Is Also Duly Registered With The Sub-Registrar...

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Applicability of various laws on non-convertible debentures (NCD)

The Reserve Bank of India, has given the final guidelines to the agencies dealing in securities and money market instruments regarding issuance of Non-Convertible Debentures (NCDs) of original or initial maturity up to one year....

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Composition Tax under CGST Bill,2017

CGST Bill,2017 under Section -10 provides that small taxpayer can opt for the scheme of composition tax instead of opting for paying tax under the regular supply of goods. Here this should be noted that this option is not available to registered person who is providing only service except supply of service mentioned in clause b of paragr...

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