On 15th August, 2017 India completed 70 years of Independence and entered 71th year. One the biggest landmark in taxation restructuring as far as Indirect Tax is concerned, happened just about 45 days ago on 1st of July, 2017 with the implementation of GST. GST unlike other taxation regime would be system driven and system […]
Article explains clause wise statutory provisions of Section 140 – Transitional arrangements for input tax credit, Section 141 – Transitional provisions relating to job work, Section 142 – Miscellaneous Transitional provisions.
PM’s Independence Day Speech 2017- Highlights in English The Prime Minster, Shri Narendra Modi today addressed the nation from the ramparts of the Red Fort on the 71th Independence Day. Following are the highlights from his speech: 1. Greetings to my fellow Indians on Independence Day. 2. For the freedom and glory of the country, […]
Attention of the trade is invited to the Circular No. 5/5/2017-GST dated 11.08.2017 issued by the Central Board of Excise and Customs, GST Policy Wing, wherein the variation in the interpretation of Notification No. 16/2017 – GST dated 7th July, 2017 and Circular No. 2/2/2017 – GST dated 5th July, 2017
In situations like this case, one may fall into realm of “preponderance of probability” where there are many probable factors, some in favour of the assessee and some may go against the assessee. But the probable factors have to be weighed on material facts so collected.
In this Question arose for consideration was whether penalty under section 271(1)(c) of Income Tax Act, 1961 could be levied in respect of an addition not having been made in quantum/assessment proceedings and it was held that Imposition of penalty proceedings under section 271(1)(c) is strictly circumscribed to addition which has been made/confirmed in the […]
Sudiesh K S The Finance Act 2016 made some changes in section 44AB and 44AD let’s discuss it in detail. Section 44AB Clause AY 2016-17 AY 2017-18 a (a) carrying on business shall, if his total sales, turnover or gross receipts, as the case may be, in business exceed or exceeds one crore rupees in […]
I am sharing the format of GSTR-3B in Excel. The file contains my comments on each and every column of GSTR-3B and also contains formulae for automatic set-off of eligible ITC against output tax liability.
Best accounting software keeps one’s financial data organized and it however also provides more accurate information anytime when anyone needs it.
No one likes bad surprises and often investments in home feature pretty nasty disclosures that make dreams turn into nightmares. First time home loan applicants face common problems like rejection in the initial stages, non-refundable processing fees, and desired amount of loan not sanctioned and perpetual issue of interest rate (or EMI burden). The other issues that crop up include difference in property evaluation, down payment to banks, crucial title deeds and NOC.
