"20 August 2017" Archive

“Vighnaharta”, Please remove the “Vighnas” of GST Returns !

Arjuna, In GST, monthly return has to file. In last month itself GST has been applicable. So, in case of normal dealers, the first return is to be filed in this August month. As the Government has introduced the concept of summary return, everyone have to file form GSTR-3B in this month...

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10 Type of Hardships Faced In GST Filings- KSCAA Submits Memorandum

Karnataka State Chartered Accountants Association submit a Memorandum Regarding Hardships Faced In Gst Filings to Hon. Revenue Secretary Shri. Hasmukh Adhia on 19th August 2017. The Karnataka State Chartered Accountants Association (R) (in short `KSCAA’) is an association of Chartered Accountants, registered under the Karnataka Soci...

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Incorporation of One Person Company in India – Point to Remember and Process

MCA has introduced the Concept of One Person Company so that the Proprietorship business can also get the Corporate Frame work with minimum compliances in a Year. It is still in its nascent stages and will require more time to be fully accepted by the business world....

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Have you filed GSTR-3B? (FAQ on GSTR 3B)

What is form GSTR-3B? Form GSTR-3B is a simple E-form introduced by the CBEC for the month of July and August. In GSTR-3B we don’t have to provide invoice level information, only total consolidated values for each supply have to be provided....

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Instruction for filing Form GSTR 3B

3.1 Details of Outward Supplies and inward supplies liable to reverse charge Tax on outward and reverse charge inward supplies 3.1(a) Outward supplies other than zero rated, nil rated and exempted Include the taxable value of all inter-State and intra-State B2B as well as B2C supplies made during the tax period. Reporting should be net [&...

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Right of appeal U/s. 260A is a substantive right and cannot be impaired by any subsequent legislation

K Raveendranathan Nair Vs. Commissioner Of Income Tax & Anr. (Supreme Court of India)

S. 260A: Right of appeal is not a matter of procedure. It is a substantive right. This right gets vested in the litigants at the commencement of the lis and such a vested right cannot be taken away or cannot be impaired or imperilled or made more stringent or onerous by any subsequent legislation unless the subsequent legislation said so ...

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Maharashtra Value Added Tax (Second Amendment) Rules, 2017

Notification No. VAT 1517/CR 56/Taxation-1 (20/07/2017)

No. VAT 1517/CR 56/Taxation-1.—Whereas, the Government of Maharashtra is satiffied that circumstances exist which render it necessary to take immediate action further to amend the Maharashtra Value Added Tax Rules, 2005...

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Tax payment, filing of GSTR-3B Return & Transitional Credit for July, 2017

Registered persons planning not to avail transitional credit for discharging the tax liability for the month of July, 2017 or new registrants who do not have any transitional credit to avail, need to follow the steps as detailed below...

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A financial check list before you buy your Dream Home

The HOME, DREAM HOME is a sentimental objective of every individual those started their carrier in the recent past. It gives the immense pleasure of significant achievement in their life time. Hence everyone is diverting their sizeable savings towards availing a dream home. The objective of a dream home is not only to live and lead their ...

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Section 35(1) (ii) Central Government approves organization M/s Institute for Stem Cell Biology and Regenerative Medicine, Bangalore

Notification No. 81/2017-Income Tax (20/08/2017)

S.O. It is hereby notified for general information that the organization M/s Institute for Stem Cell Biology and Regenerative Medicine, 8angalore (PAN:- AAATI7342D) has been approved by the Central Government for the purpose of clause (ii) of sub-section (I) of section 35 of the Income-tax Act, 1961 (said Act),...

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