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Archive: 26 December 2017

Posts in 26 December 2017

Understand GSTR 1 filing and added features in return utilities with Q & A

December 26, 2017 36684 Views 8 comments Print

Question and answers in GSTR 1 filing in GST portal – how to understand it and what are the added features in return utilities on GST Portal that would bring relief for tax payers :

Information cannot be denied under RTI for lack of Aadhaar card

December 26, 2017 9459 Views 0 comment Print

Commission records admonition for illegally insisting on Aadhar Card etc. to prove citizenship, identity and address, and also demanding proof of citizenship. Denial of information for lack of Aadhaar card will be a serious breach of right, which was guaranteed by the RTI Act

Collection under GST for the month of December 2017

December 26, 2017 1920 Views 0 comment Print

Press Information Bureau Government of India Ministry of Finance Date: 26-December-2017 Total collection under GST for the month of December 2017 has been Rs. 80,808 crores till 25th December 2017 Total Revenue Collection under GST: The total collection under GST for the month of December 2017 has been Rs. 80,808 crores till 25th December 2017. […]

Excise Dept cannot confiscate a Vehicle merely because it was used to Transport Liquor

December 26, 2017 8487 Views 0 comment Print

Quashing the orders of the Financial Commissioner and the Excise Commissioner, the Delhi High Court held that the mere fact that the vehicle was used to transport liquor would not be sufficient for confiscating the same if the owner of the vehicle is able to establish that he/ she was not involved in the offence.

Two websites for VAT / GST Dealers in Maharashtra wef 26.12.2017

December 26, 2017 25977 Views 0 comment Print

MGSTD Portals Starting from 26/12/2017 MGSTD will have two portals, www.mahavat.gov.in for old e-Services and www.mahagst.gov.in for all New Automation / SAP e-Services. www.mahavat.gov.in 1. Prior period return filing, prior period e-CST declarations and audit VAT Audit Report (e-704) for F.Y.2016-17 and earlier periods along with CDA shall be available on www.mahavat.gov.in 2. Legacy dealers […]

TDS not deductible on estimation /provision of expenses which was not paid

December 26, 2017 2658 Views 0 comment Print

Explore ITAT Mumbai’s order on Apax Partners India vs. DCIT regarding transfer pricing, legal fees, and travel expenses. Key insights on taxation under section 40(a)(ia)

Income on Agricultural land sale cannot be treated as business gain merely for higher volume of sale consideration

December 26, 2017 2823 Views 1 comment Print

Income Tax Appellate Tribunal (ITAT), Rajkot bench, while allowing the assessees’ appeal, held that the sale of land cannot be treated as business activity for the purpose of levying income tax even though there is a higher volume of sale consideration.

Penalty proceeding invalid if Assessment order nowhere states specific charge of alleged concealment and / or furnishing of inaccurate particulars of income

December 26, 2017 4236 Views 0 comment Print

Nowhere in the assessment order states the specific charge of alleged concealment and / or furnishing of inaccurate particulars of income. Therefore, the entire penalty proceedings stand vitiated, because it is not in accordance with law.

No penalty for non offering LTCG to Tax due to ignorance of law

December 26, 2017 5220 Views 1 comment Print

Sri Sachindra Nath Kayal Vs. ITO (ITAT Kolkata) It undisputed fact that assessee has earned LTCG which was not offered to tax. It is also undisputed that the disclosure of the same made in balance-sheet of the assessee. Thus, we note that non- offering of LTCG to the tax was not deliberate. It was out […]

Types of GST returns and Due dates of GST returns

December 26, 2017 14577 Views 2 comments Print

Due Dates of GST returns are based on Latest Orders and Notifications. GSTR-1 Quarterly Returns (Taxpayers with Annual Turnover upto Rs. 1.5 Crore can opt for quarterly return filing)

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