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Archive: 14 October 2017

Posts in 14 October 2017

Designation of Senior Advocates by SC & all HCs– Recent SC guidelines

October 14, 2017 3492 Views 0 comment Print

We are referring to Writ Petition 454 of 2015 of Indira Jaising. Vs others which resulted in the famous judgement of Supreme Court on the system of designation of senior advocates in Supreme Court and in other High Courts. One can easily read the judgement as under:

11 FAQS on GSTR Form due dates, Input Credit, RCM and GSTR 2A

October 14, 2017 5985 Views 1 comment Print

Q 1. What is the due date for filing of FORM GSTR-1, for the month of August? Ans: The Due date for August will be notified soon. Q 2. If income is nil, are returns mandatory? Ans: Yes, once you are registered, filing of returns is compulsory. In this case, you can show the turnover as […]

10 Procedural Difficulties still faced by Taxpayers under GST Law

October 14, 2017 8043 Views 8 comments Print

Applicability of GST to Composition in Transitional Period w.e.f. 01-07-2017: That window which was again opened till 30th September 2017 for shifting to Composition Scheme for those persons who have failed to migrate to Composition Scheme (Old migration cases) or failed to choose Composition scheme (Fresh registration) for any reason, has been made effective from 01-10-2017.

Top 10 Questions of GSTR-2 and GSTR-2A

October 14, 2017 16473 Views 3 comments Print

GSTR- 2A is an auto generated return of inward supplies. When your suppliers who are registered under GST file their GSTR- 1 of outward supplies (and various other returns like GSTR- 5,6 etc), those details relevant to you will be auto populated in your GSTR-2A return.

ITAT explains law on Levy of penalty U/s. 221(1)

October 14, 2017 11910 Views 0 comment Print

An assessee is liable to penalty under section 221(1) of the Act in a case in which the though the assessee has not paid the self assessment tax under section 140A, while filing the return of income, but revises the income, by filing revised return of income, and pays the tax on the revised return of income at the time of filing the revised return of income?

Presentation on Issue of Preference Shares

October 14, 2017 9234 Views 0 comment Print

Preference share capital means that part of the issued share capital of the company which carries or would carry a preferential right with respect to

Partial but Great Relief under Reverse Charge Mechanism

October 14, 2017 32442 Views 7 comments Print

Reverse Charge Mechanism which proved to be most Draconian provision has been now relaxed, of course temporarily till 31st March’ 2018, as per the decision taken at 22nd HST Council meeting on 6th Oct’2017

VAT in UAE: Who will feel the pinch

October 14, 2017 1722 Views 0 comment Print

UAE is implementing VAT wef 01.01.2018 @5% on supplies of all Goods and Services. I am sharing my views on impact of VAT on consumers and business and finally who is going to feel the pinch

Shareholders Agreement and its importance

October 14, 2017 10605 Views 1 comment Print

We all are aware that a ‘Share’ is a share in the Share Capital of a Company, and a Shareholder is a person who has subscribed to such Share of a Company.

45 FAQs on Form GSTR-2

October 14, 2017 8064 Views 2 comments Print

1. What is Form GSTR-2? GSTR-2 is the details of inward supplies of goods or services to be furnished by registered taxpayer on a monthly basis. The GSTR-2 would be prepared by registered taxpayer by acting upon on auto-populated details from GSTR-1,5,6, 7,8 filed by the corresponding supplier/ Non-Resident taxable persons/ ISD/ Tax Deductor/ Tax […]

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