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Archive: October, 2017

Posts in October, 2017

Check details furnished before Submitting GSTR 2; Saved vs Submit details appearing in GSTR 2

October 21, 2017 4134 Views 1 comment Print

1. Taxpayers are advised to check the details furnished in Form GSTR 2 before Submitting Check details furnished before Submitting GSTR 2: Please note that no further modifications are allowed after submit. Please ensure that all details applicable for the tax period are provided correctly and completely on the Portal before clicking on Submit button. […]

How to upload invoices & other details & filing of Form GSTR 2 using Offline Tool

October 21, 2017 4584 Views 0 comment Print

Taxpayers guide for uploading invoices and other details and filing of Form GSTR 2 using Offline Tool UPLOADING INVOICES AND OTHER DETAILS AND FILING OF FORM GSTR 2 USING OFFLINE TOOL 2.0: 1. Once the details are furnished in the tool select ‘View Summary’ to see the summary of details added across sections, In ‘View […]

How to add Missing Invoices & other details in offline tool for Form GSTR 2

October 21, 2017 5640 Views 1 comment Print

ADDING MISSING INVOICES AND OTHER DETAILS IN OFFLINE TOOL FOR FORM GSTR 2 Taxpayers guide for Adding Missing Invoices and other details in offline tool for Form GSTR 2 You may add saved invoices in your Form GSTR 2 and add missing invoices and other details not reported by supplier and other details in offline […]

Bad debts not allowable if same was not part of income in earlier previous year

October 21, 2017 1371 Views 0 comment Print

A debt means something more than a mere advance. It means something which is related to business or results from it. To be claimable as a bad or doubtful debt it must first be shown as a proper debt

Merit not required to be considered in compounding application; Compounding can be rejected for repeat of offence

October 21, 2017 2187 Views 0 comment Print

Ptitioner has vehemently submitted that in present case compounding application of the petitioner has been rejected solely on the ground that it is not the first offence of petitioner.

SHOULD NGOs Register Under GST ?

October 21, 2017 22446 Views 3 comments Print

Until recent past the count of NGOs outnumbered the count of schools in India. Such being the spread of NGOs, arguably the biggest economic reform in India which is GST would certainly have its impact on NGO sector. One of the major question which people at helm of affairs of NGOs have is whether their organisation need to get registered under GST? The article attempts to put before the readers relevant extracts of statue which would facilitate in answering above question.

RBI Report on MCLR Interest rate: Or simply interest rate on loans by commercial banks – what we lost or would gain

October 21, 2017 1716 Views 0 comment Print

We wish our readers a happy Deepavali. We never had it so good to find that RBI would undertake whether commercial banks had really passed on any gains or losses to its customers whether on loans (various types) or deposits (yes, various types too) and pass any judgement after discussing with the banks. A common […]

Shifting of Registered Office of Company within State

October 21, 2017 233381 Views 1 comment Print

Shifting of Registered Office of Company Background/Extract of Companies Act, 2013. As per provisions of Section 12 of Companies Act, 2013. 1. A company shall, on and from the fifteenth day of its incorporation and at all times thereafter, have a registered office capable of receiving and acknowledging all communications and notices as may be […]

CBEC refunded Rs. 132 Crore out of 753 Crore of IGST paid on July exports

October 20, 2017 852 Views 0 comment Print

Out of a total claim of Rs. 753 Crore of IGST paid on exports made in July 2017, the refund amount sanctioned so far has touched Rs. 132 Crore within a span of 10 days. Board is according utmost priority to early sanction of the remaining refund claims

Interest u/s 234A/ 234B cannot be levied in absence of any mention in Assessment Order

October 20, 2017 5649 Views 2 comments Print

In the absence of any specific mention of the Assessing Officer in the assessment order for charging of interest u/s 234A and 234B, no interest would be recovered from the assessee merely by way of a demand notice.

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