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Archive: 29 December 2017

Posts in 29 December 2017

Live Course on Appeal, Pleading & Drafting under GST by CA Sachin Jain

May 15, 2024 6138 Views 0 comment Print

oin us for an immersive live course led by renowned expert CA Sachin Jain, as we delve into the intricacies of appeal, pleading, and drafting under GST.

Live Course on How to Reply to GST Notices & SCN & to Fake ITC Notices? – Last day to Register

May 15, 2024 19203 Views 0 comment Print

Join our live course to learn expert strategies for replying to GST notices, SCNs, and fake ITC notices. Understand litigation nuances, evidence insights, and practical tips for effective responses. Register now!

Clarification on all aspects of Filing of Returns under GST: Must Read

December 29, 2017 96042 Views 12 comments Print

Various representations have been received seeking clarifications on various aspects of return filing such as return filing dates, applicability and quantum of late fee, amendment of errors in submitting / filing of FORM GSTR-3B and other related queries. In order to consolidate the information in various notifications and circulars regarding return filing and to ensure uniformity in implementation across field formations, the Board, in exercise of its powers conferred under section 168 (1) of the Central Goods and Services Tax Act, 2017 hereby clarifies the following issues:

Central Goods and Services Tax (Fourteenth Amendment) Rules, 2017

December 29, 2017 8073 Views 0 comment Print

These rules may be called the Central Goods and Services Tax (Fourteenth Amendment) Rules, 2017. (2) Unless otherwise specified, they shall come into force on the date of their publication in the Official Gazette.

e-way bill Generation Rules effective from 01-02-2018: CBEC

December 29, 2017 11622 Views 0 comment Print

Central Government hereby appoints the 1st day of February, 2018 as the date from which the provisions of serial number 2(i) and 2(ii) of notification No. 27/2017 – Central Tax dated the 30th August, 2017, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R 1121 (E), dated the 30th August, 2017, shall come into force.

Govt revises GSTR-4 Late Return Filing Penalty

December 29, 2017 11013 Views 2 comments Print

Council, hereby waives the amount of late fee payable under section 47 of the said Act by any registered person for failure to furnish the return in FORM GSTR-4 by the due date, which is in excess of an amount of twenty five rupees for every day during which such failure continues:

GSTR-1 Monthly Return Due Date Extended

December 29, 2017 114321 Views 18 comments Print

Last date for filing of Monthly return in FORM GSTR-1 for for July-October, 2017 for Registered persons having Aggregate turnover of up to 1.5 crore rupees in the preceding financial year or the current financial year has been extended to 10th January, 2018 from earlier due date of 31st December, 2017.

GSTR-1 Quarterly Return Due Date Extended

December 29, 2017 45027 Views 11 comments Print

The last date for filing of return in FORM GSTR-1 for July – September, 2017, for Registered persons having aggregate turnover of more than 1.5 crore rupees in the preceding financial year or the current financial year has been extended to 10th January, 2018 from earlier due date of 31st December, 2017.

When company not started its core activity, it cannot be construed that it had commenced its business

December 29, 2017 2892 Views 0 comment Print

Hyderabad Metro Rail Ltd.: when company not started its core activity, it cannot be construed that it had commenced its business and the income shown in the P&L A/c is not generated from the business activity of the assessee, rules ITAT, Hyderabad.

Franchise fee paid by KKR to BCCI-IPL is revenue expenditure

December 29, 2017 3465 Views 0 comment Print

Payment of Franchise Fee by Kolkata Knight Riders to the Board of Control for Cricket in India (BCCI) would constitute revenue expenditure for the purpose of allowing Income tax deduction, said Mumbai ITAT.

Tariff concessions on specified goods imported from Malaysia wef 01.01.2018

December 29, 2017 1170 Views 0 comment Print

seeks to amend notification No. 53/2011-Customs dated 01st July, 2011 so as to provide deeper tariff concessions in respect of specified goods imported from Malaysia under the India-Malaysia Comprehensive Economic Cooperation Agreement (IMCECA) w.e.f. 01.01.2018

Bogus LTCG from Penny stocks- ITAT Confirms Addition for failure to explain Jump in Price

December 29, 2017 13977 Views 0 comment Print

By this income tax appeal, the appellant ­assessee challenges the orders of the Assessing Officer, the Commissioner of Income Tax as also the Income Tax Appellate Tribunal holding that the assessee had traded in shares and the income was liable to be taxed as business income.

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