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Archive: 06 June 2017

Posts in 06 June 2017

Live Course on Appeal, Pleading & Drafting under GST by CA Sachin Jain

May 15, 2024 7038 Views 0 comment Print

oin us for an immersive live course led by renowned expert CA Sachin Jain, as we delve into the intricacies of appeal, pleading, and drafting under GST.

24 States passes State GST (SGST) Act While 7 yet to pass

June 6, 2017 2781 Views 0 comment Print

24 States pass the State GST (SGST) Act While 7 States viz. Meghalaya,Punjab,Tamil Nadu, Kerala, Karnataka, Jammu & Kashmir and West Bengal have yet to pass the SGST Act. Twenty Four (24) States have passed the State GST (SGST) Act till today i.e. 5th June, 2017 while 7 States viz. Meghalaya, Punjab,Tamil Nadu, Kerala, Karnataka, […]

GST Facilitation Cell for smooth roll-out of GST WEF 1st July, 2017

June 6, 2017 1746 Views 0 comment Print

Cabinet Secretary asks the different Ministries/Departments and Public Sector Undertakings (PSUs) under these Ministries to set-up and activate a GST Facilitation Cell to provide all possible support to the business and industry sector for the smooth roll-out of GST with effect from 1st July, 2017.

Target date of GST implementation is 1st July, 2017 only

June 6, 2017 13800 Views 1 comment Print

In all interactions with Trade Industry and general public, it should be clearly indicated by officers at all levels that the target date of implementation is 1st July, 2017 only, and the implementation of this big reform will not be deferred beyond this date. Any speculation in any quarters regarding deferment or implementation date should be quelled effectively.

How to Prepare Invoice under GST (Hindi)

June 6, 2017 33882 Views 7 comments Print

मान लीजिये बाकी सभी जी.एस.टी. से जुडी प्रक्रियाओं के लिए तो आपको समय मिल जाएगा लेकिन 1 जुलाई 2017 को ज्यों ही आप अपने व्यवसाय स्थल पर पहुचेंगे तो आपका जो पहला ग्राहक आपसे माल खरीदेगा उसे जी.एस.टी. से जुडी पहली प्रक्रिया के रूप में आपको एक बिल काटना होगा तो आइये बात करें कि जी.एस.टी. के दौरान पहली प्रक्रिया के रूप में आप टैक्स इनवॉइस या बिल किस तरह से काटेंगे .

Penalty U/s. 271(1)(c) leviable on Income disclosed in return filed pursuant to notice U/s. 153A without proper explanation

June 6, 2017 7932 Views 0 comment Print

Where no return was filed prior to the date of search and a return had been filed only after the issue of notice under section 153A and in respect of income offered by assessee no proper explanation was provided regarding nature and source of income, AO was justified in initiation of penalty proceedings under section 271(1)(c).

Classification of Dioctyl Orthophthalate (DEPH) — Reg.

June 6, 2017 1518 Views 0 comment Print

References have been received in the Board from field and Trade regarding the correct classification of Dioctyl orthophthalate (DEPH). A doubt has been expressed whether the said goods are classifiable under tariff item 2917 32 00 – – Dioctyl orthophathalate’ or under tariff item 2917 39 20 – – – Dioctyl phthalate.

U S Taxation – Questions Green card holders or U S Citizens wanted to ask from India

June 6, 2017 3285 Views 1 comment Print

1. What are my responsibilities as a green card holder if I have been absent from the United States for a long period of time? 2. I was a long-term resident of the United States prior to surrendering my green card. What is my U.S. tax filing obligation?

Value Added Tax (VAT) in France – A lively discussion

June 6, 2017 1683 Views 0 comment Print

The areas covered under VAT in France includes continental France, Corsica, the Principality of Monaco, territorial waters, the continental shelf and the départements of Guadeloupe, Martinique and La Réunion.

Bogus capital gain: Mere Sec. 131 Statement not sufficient for addition

June 6, 2017 2901 Views 0 comment Print

We would not hesitate to observe that the lower authorities which have hushed through the facts to arrive at a conclusion on the basis of principle of preponderance of human probability, had however absolutely failed to appreciate that the said principle could have been validly applied only on the basis of a considerate view as regards the facts of the case in totality, and not merely on the basis of the stand alone statement of the aforesaid third party, viz. Sh. Mukesh Choksi.

Gain / Loss from Share PMS Account is Capital loss /Gain

June 6, 2017 20448 Views 8 comments Print

In this case, assessee gave her funds to the PMS Manager as in investment and there is no involvement of assessee in day to day transaction of the funds. The result of profit and loss in the end of the year from PMS Account is a capital loss.

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