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The Department is embarking upon the concept of faceless and nameless e-assessment procedure. As such, there is an imperative need to redeploy the available manpower in light of the proposed e-assessment.
Clause 3 of the Bill seeks to amend the provision relating to calculation of continuous service for the purpose of gratuity in case of a female employee who has been on maternity leave.
Digital Era and the Chartered Accountancy Profession –Survey Report 2017 is a crucial step to take the pulse of the challenges profession faces in digital era, and making the profession digital ready.
Where assessee was a rightful owner of leased assets and lessees had confirmed the ownership of assets, and they had not claimed depreciation in their books of account for purchase and lease of assets, assessee was duly entitled to depreciation on such assets.
Every corporate, structure themselves to attain utmost profit. In order to ensure the same they will stay focused, consistent and professionalized. In addition to this the process of Mergers and Acquisition play a significant role in enhancement of profit margin.
From the perusal of the provisions of section 153A of the Act that notice under section 153A can only be issued where a search is initiated under section 132 of the Act or books of account or other documents other documents are requisitioned under section 132A after the 31-5-2003.
As we all know a bank is a financial institution licensed to receive deposits and make loans. Banks many also provide financial services, such as wealth management, currency exchange and safe deposit boxes. There are two types of banks: Commercial/ retail banks and investment banks.
Section 140 of the CGST/SGST Act provides for transition of Input Tax Credit of the existing taxpayers. A taxpayer can file Form TRAN-1 and avail Input Tax Credit on the basis of closing balance of the Input Tax Credit declared in the last return under the pre-GST regime.
As per section 2(33) of the CGST Act, 2017, continuous supply of goods means a supply of goods which is provided, or agreed to be provided, continuously or on recurrent basis, under a contract, whether or not by means of a wire, cable, pipeline or other conduit
An applicant can apply for advance ruling even before taking up a transaction (proposed supply of goods or services) or in respect of a supply which is being undertaken. The only restriction is that the question being raised is already not pending or decided in any proceedings in the case of applicant. Application for advance ruling will not be admitted in cases where the question raised in the application is already pending or decided in any proceedings in the case of an applicant under any of the provisions of this Act. Sec.103 of the CGST Act, 2017/ IGST Act, 2017 provides that an advance ruling pronounced by Authority for advance ruling (AAR) or Appellate authority for advance ruling (AAAR) shall be binding only on the applicant who sought it in respect of any matter referred to in sec. 97 (2) of the CGST Act, 2017/ IGST Act, 2017 and on the jurisdictional tax authority of the applicant. This clearly means that an advance ruling is not applicable to similarly placed taxable persons in the State. It is only limited to the person who has applied for an advance ruling.
