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In case value of goods under movement exceeds Rs. 50,000/- , every supplier, recipient and the transporter has to generate the E-Way Bill in form GST INS-01, which has be carried by the carrier of goods during the movement of goods.
Where will you be FINANCIALLY five years from today? The financial secret of moving from where you are and where you want to be? Would you like to know the financial secret behind moving from where you are and where you want to be?
Any hurry in implementing the GST, without giving proper time to the trade and industry, would result in lot of litigation and chaos. Some of the issues which are not yet settled in the Acts, draft rules are listed hereunder, which hamper the preparation at the end of taxable person and implementation of GST from 01.07.2017 would be difficult, without early resolution to these issues.
Several entities will be required to comply with Indian Accounting Standards (IND-AS) w.e.f. 1st April, 2017 with the comparatives for the periods ending on 31st March, 2017, or thereafter.
It, therefore, further logically follows that the creditor’s creditworthiness has to be judged vis-a-vis the transactions, which have taken place between the Assessee and the creditor, and it is not the business of the Assessee to find out the source of money of his creditor or of the genuineness of the transactions, which took between the creditor and sub-creditor and/or creditworthiness of the sub-creditors, for, these aspects may not be within the special knowledge of the Assessee.
Without any concrete facts, reopening cannot be ordered merely on the presumption that the returned income is very shockingly lower than the total gross receipts.
This Petition under Article 226 of the Constitution of India challenges a communication dated 18th March, 1998 of the Commissioner of Income Tax, Mumbai City III and the Circular dated 25th July, 1997 of the Central Board of Direct Tax (CBDT).
A careful look at the reason for Rule 36 being inserted, which cannot be correlated to anyone of the matters enumerated in Clauses (a) to (r) of sub-section (2) of Section 78, will show that in the entire Telangana VAT Act, 2005, the only place where a transfer of business as a whole is spoken […]
Carrying of sharp edged weapons with a blade more than 6 inches long or 2 inches wide and spring actuated knives with a blade of any size is prohibited and that too carrying of such blades in public places. Gurudwara, though is open to public, is not a public place, it is a private place where there is Prakash of Gurugranth Sahib.
The central question that arises for consideration before this Bench is whether the words “the Principal Chief Commissioner or Chief Commissioner or Principal Commissioner” in Section 260A (2) (a) of the Income Tax Act, 1961 (‘Act’) mean only the ‘jurisdictional’ Principal or Chief Commissioner of Income-tax (CIT) or could it include any CIT including the […]
