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Archive: 23 February 2018

Posts in 23 February 2018

Live Course on 360 degree Analysis of Input Tax Credit from a Litigation Perspective

July 14, 2024 1917 Views 0 comment Print

Join CA Sachin Jain for a live course on Input Tax Credit from a litigation perspective. Gain practical insights and master ITC complexities. Register now!

Settle IGST refund due to invoice mismatch on Priority basis: CBEC Chief

February 23, 2018 13590 Views 0 comment Print

As a number of IGST refunds are stuck due to invoice mismatch and other mismatches, an interface has been developed in ICES where Customs officers can process refund claims and sanction refund. All the concerned Chief Commissioners are requested to ensure that all pending refund claims arising due to invoice mismatch or other mismatch which need rectification by trade/our officers are processed and settled on a priority basis.

CBEC Direction on Non-transition/utilization of Blocked/Disputed Cenvat Credit

February 23, 2018 16872 Views 0 comment Print

In terms of clause (i) of sub-section (1) of section 140 of the Act, a registered person shall not take in his electronic credit ledger, amount of CENVAT credit as is carried forward in the return relating to the period ending with the day immediately preceding the appointed day which is not eligible under the Act in terms of sub-section (5) of section 17

Merchant Export- Under GST

February 23, 2018 96027 Views 4 comments Print

Merchant export is popular term under EXIM policy and having equal importance with manufacturer export. Merchant exports also generate inflow of foreign exchange earnings for the Country like normal export. Merchant export mainly confined to goods exports and not services. The person who carried merchant export is called as Merchant exporter. Merchant exporter do not […]

MVAT Audit Acknowledgement submission date extended to 26.02.2018

February 23, 2018 2001 Views 0 comment Print

Due to public holidays on 24th and 25th February 2018, last date for submission of physical copy of acknowledgment of Form e-704 is extended by one day i.e. up to 26.02.2018. Source- https://mahagst.gov.in/en/due-public-holidays-24th-and-25th-february-2018-last-date-submission-physical-copy-acknowledgment

FCRA Registration Checklist

February 23, 2018 26358 Views 1 comment Print

Following Documents are required for FCRA Registration. 1. Registration Certificate of Association. 2. Memorandum of Association/Trust Deed. 3. Activity Report for the Last 3 Years. 4. Audited Statement of accounts for the last three years. 5. Section 12A Registration Certificate Following Information is also required. Sr. No. Requirement Details 1. Contact details of the association […]

FAQ’s on applicability of GST on Rice

February 23, 2018 81282 Views 14 comments Print

With the roll-out of GST and its implementation, the branded rice has become costlier due to imposition of GST of 5 % on rice with registered brand name. Rice being one of the most consumed cereals is affecting the normal consumers. A person has to pay 5% extra on the consumption of every one kg of branded rice.

Refund of IGST on Export– Invoice mis-match Cases –Alternative Mechanism with Officer Interface

February 23, 2018 33282 Views 5 comments Print

Refund of IGST on Export– Invoice mis-match Cases –Alternative Mechanism with Officer Interface – Numerous representations have been received from exporters / trade associations seeking resolution of various problems which have hindered the sanction of refund of IGST paid on exports. CBEC has issued Circular No 42 / 2017 dated 07-11-2017 which highlighted the common errors that hindered the sanction and disbursal of refund of IGST paid against exports.

New-age ULIP for New-age Millennials

February 23, 2018 10794 Views 0 comment Print

Bajaj Allianz Life Insurance Company Ltd., one of the premier insurance providers in the country brings to you a new age, goal-oriented Unit Linked Insurance plan – Bajaj Allianz Life Goal Assure – for the new-age millennials offering investment benefits like Return on Mortality Charges (ROMC) and Return Enhancer.

Wealth Tax: Non striking irrelevant column in notice issued u/s 18(1)(c) renders notice invalid

February 23, 2018 2379 Views 0 comment Print

The Ld.CWT(A) should have struck off the irrelevant column and made known the assessee by mentioning for which reason the penalty was initiated. Penalty u/s 18(1)(c) of WT Act are parimateria to Income Tax Act 271(1)(c). As per settled case laws non striking the irrelevant column in the notice issued u/s 18(1)(c) renders the notice invalid and consequent penalty required to be cancelled.

Amendment Booklet for CA-IPCC Income Tax (May 2018 Attempt)

February 23, 2018 44688 Views 22 comments Print

In case of every Individual (resident or non-resident) or HUF or Association of Persons or Body of Individuals or any other artificial juridical person

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