"09 November 2017" Archive

Why should you open a savings account for your kids?

Your kid may have some sort of idea about a bank from watching TV or reading books but if you want to teach your child about how to manage money, then nothing is better than providing them a real-world practical experience. Thanks to the RBI (Reserve Bank of India), you could introduce your child to the financial system as and when they t...

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Posted Under: Finance |

Taxpayers guide to upload JSON file using GSTR 4 Offline Tool

1) Login on the GST portal and navigate to the GSTR 4 tab clicking Return >Return Dashboard > Selecting the Tax period. 2) Click on Prepare Offline button on the GSTR 4 Tile. 3) Click on Choose File and select the JSON file generated by the GSTR 4 offline tool for that tax period....

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Posted Under: Finance |

Taxpayers guide to correcting JSON file processed with error using GSTR 4 Offline Tool

1) In case of validation failure of one or more details upon processing of uploaded JSON file on the GST portal, status will be updated as Processed with Error 2) Click the link to Generate error report. 3) Once the report is generated, click link to download the error report....

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Posted Under: Finance |

Taxpayers guide to download JSON file using GSTR 4 Offline Tool

One can also download the earlier uploaded file and open it in the Offline tool using Open Downloaded GSTR-4 JSON File and modify, delete or correct the earlier declared values and again generate the JSON file and upload to the GST portal....

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Posted Under: Finance |

Anti-profiteering measures to benefit consumers Lower prices under GST

Under GST, suppliers of goods and services must pass on any reduction in the rate of tax or the benefit of Input Tax Credit to consumers by way of commensurate reduction in prices. ...

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Posted Under: Finance |

Appeal at a higher fora after Department has lost in two previous stages

F. No. 390/Misc/69/2017-JC (09/11/2017)

TPRU has suggested that the Department should not contest a case further if the issue has been lost in two previous stages of appeals. This suggestion was considered in detail by the Board at the meeting dated 18.09.2017....

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Addition U/s. Section 69C of IT Act is not mandatory, AO has discretion to add or not to add unexplained expenditure

Pr. Commissioner Of Income Tax Vs. Late Rama Shankar Yadav (Allahabad High Court)

It is held that as the provision of Section 69C of the Act is not mandatory in nature, the Assessing Authority has full discretion either to add or not to add the unexplained expenditure in the income of the assessee based upon sound judicial principles ...

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MIDC-IA authorized to issue Certificate of Origin (Non-Preferential)

Public Notice No. 39/2015-2020 (09/11/2017)

M/s. MIDC Industries Association (MIDC-IA), is enlisted under Appendix 2E of FTP, 2015-2020 for issuing Certificate of Origin (Non-Preferential)....

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Revised Procedure for Revalidation of Import / Export Licence Certificate/ Authorisation /Permissions for Non-SCOMET items

Public Notices No. 38/(2015-2020) (09/11/2017)

Revalidation of Authorisation/Duty Credit Scrip shall also be allowed without charging -any fee for the period of delay (the period for which authorisation/scrip holder was unable to utilise the same) or six months, whichever is less, due to the following reasons:...

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Banking Facility for Senior Citizens and Differently abled Persons

RBI/2017-18/89 DBR.No.Leg.BC.96/09.07.005/2017-18 (09/11/2017)

Please refer to Paragraph 8 of Statement on Developmental and Regulatory Policies, released by Reserve Bank of India on October 4, 2017 as part of Fourth Bi-monthly Monetary Policy Statement 2017-18, a copy of which is enclosed....

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