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Archive: 01 January 2018

Posts in 01 January 2018

Re-assessment proceedings quashed as there was no nexus between reasons recorded and addition made

January 1, 2018 2133 Views 0 comment Print

Delhi ITAT has in the case of Krishan Kumar v/s ITO in ITA No. 3985/Del/2017 has quashed the reassessment proceedings as there was no nexus between reasons recorded and addition made.

MGST: Revised composition scheme for manufacturers & Traders

January 1, 2018 2196 Views 0 comment Print

Noti.No.01/2018-(ST)- Amd. to Noti. No.8/2017-(ST) to prescribe effective rate of tax under composition scheme for manufacturers and other suppliers

GST Registration: Applicability, Advantages, Conditions & procedures

January 1, 2018 87792 Views 4 comments Print

Sec 24 of the CGST act mention certain categories of suppliers, who shall be liable to take GST registration even if their aggregate turnover is below the said threshold limit of 20 lakh rupees.

GST Rate on Nonwoven / Cotton / Nonwoven rice & Cotton rice bags

January 1, 2018 12618 Views 1 comment Print

Please refer to your letter dated 22.12.2017 relating to classification of a) Nonwoven bags b) Cotton bags c) Nonwoven rice bags and d) Cotton rice bags. As per Customs Tariff, your products are classifiable under the following HSN code:

A Quick Run through to Latest GST Forms and Filing Dates

January 1, 2018 7122 Views 0 comment Print

Even though GST has put its feet in our economy months back, amendments and extension of due dates plays more role now a days. This article is not for explaining the Basics of GST but to update the recent Changes and the amended due dates of filings announced as of now.

All about Elective Paper and Open Book Exam introduced by ICAI in CA Final New Course

January 1, 2018 43269 Views 3 comments Print

One of the major questions running in the minds of CA aspirants, who are opting for transition under Revised Scheme of Education and Training, is What are Open Book Exams?. Through this Article, we’ll try to resolve all your major questions and queries regarding Open Book Exams introduced by the Institute in the category of Elective Paper 6 of CA Final Examinations and give you an insight about the same.

Buzzword – “Blockchain Technology”

January 1, 2018 3165 Views 1 comment Print

The Blockchain technology is probably the best invention since the internet itself. Blockchain technology addresses the long-standing challenges related to economic development and expands opportunities for exchange and collaboration by reducing reliance on intermediaries.

Highlights of GST notifications dated 29th December 2017 – More detail on E way Bill

January 1, 2018 7563 Views 0 comment Print

Article summarises key highlights of GST notifications No. 71/2017 to 75/2017- Central Tax dated 29th December 2017 issued by CBEC to extend GSTR-1 Return Filing Due Dates, To revise GSTR-4 Late Return Filing Penalty, to notify applicability of E-Way Bill rules and to amend GST registration and refund forms.

A Quick Recap to New & Unexpected Moves Happened in Year 2017

January 1, 2018 1119 Views 0 comment Print

As we all know that the year 2017 was full of new and unexpected moves. With so many events happening throughout the year, Indian economy has seen some major changes. There are number of events that kicked up a storm in news and on social media in 2017.

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