"24 October 2017" Archive

GSTN launches GST ITC-04 Excel-based offline tool

Today GSTN has launched GST ITC-04 Excel-based offline tool to furnish details of input/capital goods sent and received back from job worker:- As per GST Rule 45 details of input or capital goods sent to job worker and received back from them need to be furnished on a quarterly basis in ITC-04, which can be download from GST portal....

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GST Revenue Collection Figures stand at Rs.92,150 crore as on 23.10.2017

The total revenue of GST paid under different heads (upto 23rd October, 2017) for the month of September 2017 is Rs. 92,150/- crore. The total CGST revenue is Rs. 14,042 crore, SGST revenue is Rs. 21,172 crore, IGST revenue is Rs. 48,948 crore (of which IGST from imports in September 2017 is Rs. 23,951 crore) and Compensation Cess is Rs. ...

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Representation for anomalies faced with regard to GST

Tax Consultant's Association, Jaipur are hereby putting some grave problems faced by practitioners, assesses and Common public in this GST environment and request you to kindly take some swift action to help us....

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Seized cash must be adjusted towards advance tax liability on request from Assessee

Latika Datt Abbott, Charu Datt Bhatia Vs DIT & Ors. (Delhi High Court)

Circular No. 20/2017 makes clear the intention of the Department not to contest those cases where the assessees had been given the benefit of adjustment of seized cash against the advance tax liability. There cannot be a situation where for those Assessees who have continued to remain in default of payment of advance tax the benefit [&he...

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FORM GSTR-3B Late Return filing fees waiver notified by CBEC

Notification No. 50/2017-Central Tax [G.S.R 1326(E)] 24/10/2017

CBIC waives late fee payable for those who failed to furnish return in FORM GSTR-3B for August and September, 2017 by due date....

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Nature of Agricultural income would not change merely because operation were done in a greenhouse

Asst. CIT Vs. KF Bio plant Pvt. Ltd. (ITAT Pune)

Assessee was engaged in the business of plant floriculture and tissue culture, and claimed exemption of income under section 10(1) for being agricultural income, AO was not justified in disallowing exemption on the ground that basic operation were done in greenhouse since involvement of greenhouse would not change the nature of operations...

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Appeal cannot be dismissed for defect in form without granting Opportunity to cure defect

Haryana State Roads and Development Corporation Ltd. Vs. The D.C.I.T. (ITAT Chandigarh)

The Income Tax Appellate Tribunal [ITAT], Chandigarh bench, has held that the appellate authority cannot dismiss an appeal by pointing out the defects in its form without granting an opportunity to the assessee to cure the defects....

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FM waives late fee on filing of GSTR-3B for August & September 2017

FM announces today that To facilitate taxpayers, late fee on filing of GSTR-3B for August 2017 & September has been waived. Late fee paid will be credited back to taxpayer ledger. Notification and Press release in this regard is expected Soon....

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No disallowance u/s 40(a)(ia) for TDS deduction under Wrong Provision under a bonafide belief

M/s. Dish TV India Ltd. Vs ACIT (ITAT Mumbai)

Out of these four appeals two appeals are filed by the assessee while the other two appeals are filed by the Revenue for against the orders of the CIT(A) – 4, Mumbai dated 13.02.2017 and 06.02.2017 for assessment years 2011-12 and 2012-13 respectively....

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NCLT imposes Rs. 10 Lakh Cost for seeking transfer of cases on minor excuses

Cyrus Investment & Anr Vs. Tata Sons Ltd. & Ors. (National Company Law Tribunal)

Cyrus Investment & Anr Vs. Tata Sons Ltd. & Ors. (National Company Law Tribunal) A perusal of the aforesaid prayer does not leave any manner of doubt that the prayer was made for entrusting the Company Petition No. 82/2016 to such Bench of the NCLT as may be appropriate for hearing the same on the […]...

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