"09 September 2017" Archive

GST council decides to further extend GST return filing due dates & to give other relaxations

GSTR-3B will continue to be filed for the months of August to December, 2017. A registered person (whether migrated or new registrant), who could not opt for composition scheme, shall be given the option to avail composition till 30th September 2017 and such registered person shall be permitted to avail the benefit of composition scheme ...

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Input not eligible for Input Tax Credit (ITC) under GST

Introduction:- Time has been arrived for filing of GST Returns but in some transactions we are not very much clear whether ITC has been availed for a particular transactions or not. Section-17(5) of CGST Act, 2017 will provide light in this matter. This article will provide detail lists of Input not eligible for Input Tax […]...

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Suggestions by Nagpur BJP GST CELL for smooth compliance of GST

REVERSE CHARGE MECHANISM (RCM)- Reverse Charge Mechanism in GST should be removed. It is the biggest confusing and problematic issue in GST. Small Business owners are suffering huge loss due to this provision. Compliance part has also increased due to this....

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Practicing CA Cannot Enroll As A Lawyer: Gujarat HC

Mam Raj Goel Vs Bar Council Of Gujarat & 1 (Gujarat High Court)

01 The present petition is filed by the petitioner under Articles 226 of the Constitution of India as well as under Sections 24 and 28 of the Advocates Act, 1961 for the prayers as prayed for inter alia that appropriate writ, order or direction may be issued to the Bar Council of India to enroll […]...

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CBDT cannot amend the legislative provisions by issuing a Circular: SC

CIT Vs S. V. Gopala Rao (Supreme Court of India)

The Central Board of Direct Taxes (CBDT) issued a Circular under Section 119 of the Income Tax Act,1961. In fact, it amended the provisions contained in Rule 68B of the IInd Schedule to the Income Tax Act, 1961, which otherwise have statutory force. Such legislative provisions cannot be amended by CBDT in exercise of its power under Secti...

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There can be no tax liability without the authority of law : ITAT Mumbai

Nivea India Private Ltd Vs DCIT (ITAT Mumbai)

This appeal by assessee u/s 253 of Income Tax Act (the Act) is directed against the order of ld. Commissioner of Income-tax (Appeals)-15, Mumbai dated 16.10.2012 for Assessment Year 2007-08. The assessee has raised the following grounds of appeal...

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SC on fixation of rent and its payment is statutory or contractual and Tax effect

CIT Vs. M/s Travancore Cochin Udyoga Mandal (Supreme Court of India)

S. 37(1): in order to decide whether disputed lease rent is deductible in the year of fixation or in the year the dispute attains finality, the nature of fixation of rent, its payment, recovery etc. and whether it is statutory or contractual, have bearing. The Tribunal is required to bring the facts on record ...

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Penalty cannot be levied for difference in Income with form 26AS due to TDS deduction on Service Tax Component

M/s. Bhayana Builders Pvt. Vs The DCIT (ITAT Delhi)

Since the difference is reconciled at the penalty stage and claim of assessee have not been doubted or rejected, therefore, Ld. CIT(A) was not justified in confirming the levy of penalty merely because assessee conceded for addition of the amount in question. ...

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GSTR-2 Few Important Aspects

Many GSTR3B came to my notice which has been filled by my professional colleagues (including advocates) or by in house team of client. A common mistake I found in many returns that was Block No.5 was left un-filled i.e. -From a supplier under composition scheme, Exempt and Nil rated supply....

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No interest can be charged u/s 201(1A) when there is no tax liability

Manne Rajesh Kumar Vs DCIT (ITAT Bangalore)

In the instant case, the deductee has filed the return of income on 14.12.2012 and the long term capital gains resulted into capital loss which resulted into nil demand. According to the assessee, there was no tax payable by the deductee on the transaction of sale of immovable property. When there is no tax payable by the deductee on sale...

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