"08 September 2017" Archive

In granting approval to case manually selected for scrutiny CIT is required to show application of mind

M/s Brothers & Sisters Enterprise Vs JCIT (ITAT Kolkata)

1. The argument of the assessee in this case is that the selection for scrutiny of this case manually done by the Assessing Officer is bad in law and that the Commissioner of Income Tax has granted approval for selection of this case for scrutiny by the AO without application of mind. Ld. Counsel for […]...

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Don’t wait for last date, file GSTR-1, 2 and 3 within prescribed period

Attention taxpayers! Don’t wait for the last date, file GSTR-1, 2 and 3 within the prescribed period VISIT www.gst.gov.in Kindly note that, the following are important points to be remembered in regards to filing of Form GSTR-1 I. Timelines The regular Returns filing (GSTR-1, GSTR-2, and GSTR-3) deadline relaxed for July/August 2017. Th...

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Posted Under: Income Tax |

How to create New GSTR1 (upload new invoices /other data for return) using Offline Tool

TIPS FOR CREATING NEW GSTR1 (upload new invoices/other data for return) using Offline Tool Create and upload the Outward Supplies details in the GSTR 1 using the Returns Offline tool. 1. Before using the GSTR1 excel template for filling outward supply details, delete all Sammie data from all worksheets. 2. Before importing the excel file ...

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Posted Under: Income Tax |

How to download Return file from GST Portal and modify/delete earlier uploaded details

1) User can download the saved invoices/details from online portal 2) To generate file for download GSTR1 click PREPARE OFFLINE → Download → GENERATE FILE. If any previously downloaded request done it will show the download link to download file. 3) To generate latest GSTR1 file click again on GENERATE FILE button and it will take 10-...

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Posted Under: Income Tax |

How to download Error File From GST Portal and Make Corrections

Tips For Downloading Error File From GST Portal and Making Corrections In case data uploaded through JSON on the portal (invoice data or other record) fails validation as defined in the portal, an Error File will be created on the online portal for only those records which failed. 1) If any json upload shows status […]...

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Posted Under: Income Tax |

17 Steps on How to prepare GSTR-1 using Offline Tool

STEP BY STEP GUIDE ON How to prepare GSTR-1 using Offline Tool 1) Where to get it?: Download the latest version of Offline Tool from the Download section of GST Portal 2) How to install: Extract the ‘gst_offline tool.zip downloaded from portal and install by selecting ‘GST’ offline Tool’ icon. On extraction of zip ...

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Posted Under: Income Tax |

Cyber Security and Cyber Resilience framework for Registrars to an Issue / Share Transfer Agents (RTAs)

Circular No. SEBI/HO/MIRSD/CIR/P/2017/0000000100 08/09/2017

Rapid technological developments in securities market have highlighted the need for maintaining robust cyber security and cyber resilience framework to protect the integrity of data and guard against breaches of privacy....

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Acquisition of ‘control’ under the SEBI Takeovers) Regulations, 2011

Press Release No.: 56/2017 08/09/2017

Ascertaining acquisition of ‘control’ under the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 (“Takeover Regulations”) requires consideration of facts and circumstances of each case. This results in a multitude of opinions. In view of the same, it was decided by the Board, in its meeting held on March 12...

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MVAT: Certificate for purchase of Natural Gas at a notified concessional rate

Trade Circular No. 39T of 2017 08/09/2017

Natural Gas is covered under entry 15 of Schedule B of the Maharashtra Value Added Tax Act, 2002. The tax rate applicable is 13.5%. A new entry 16 has been added with effect from 24th August 2017 to the said Schedule for the purpose of sale of natural gas at a concessional rate of 3% by virtue of the above referred notification. ...

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Refund of amount on account of double-payment of Customs Duty-Reg.

Public Notice No. 117/2017-JNCH 08/09/2017

Para 5 of aforesaid Facility Notice provides that on receiving the Refund claim (refund in cases of double/multiple payment of Customs Duty), the proper officer will verify the claim and will cross check the claim in following manner: (a)Verification from the PAO/e-PAO office regarding double/multiple payments for the same Bill of Entry o...

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