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Archive: February, 2018

Posts in February, 2018

Ombudsman Scheme for Non-Banking Financial Companies, 2018- FAQs

February 23, 2018 765 Views 0 comment Print

The NBFC Ombudsman is a senior official appointed by the Reserve Bank of India to redress customer complaints against NBFCs for deficiency in certain services covered under the grounds of complaint specified under Clause 8 of the Scheme.

Major Issue In Latest Change in GSTR-3B Filling Process

February 23, 2018 6294 Views 0 comment Print

One of the change in filling process of GSTR-3B is as follow:- 1. Fill either CGST or SGST/UGST amount, other tax will get auto filled. Its means when we fill amount in CGST then SGST amount auto fill which is equal to CGST amount. In simple words we cannot fill different amount in CGST and […]

JCIT cannot give Approval U/s. 153D in a mechanical way

February 23, 2018 2193 Views 0 comment Print

Joint Commissioner has failed to grant approval in terms of section 153D of the Act i.e., after application of mind but has rather carried out exercise in utmost haste and in a mechanical manner and, therefore, the approval so granted by him is not an approval which can be sustained.

Income from sale of Agricultural Land after plotting is business Income

February 22, 2018 20985 Views 1 comment Print

Ramswaroop Saudagar Vs ITO (ITAT Jaipur) Although the land was agricultural land and situated in the limits of city of Dausa. It was developed into 23 plots of various sizes and sold during the year. The nature of land had gone irreversible change from agricultural to residential plots, therefore, we are agree with the finding […]

CBDT notifies centralised communication scheme 2018 for issuance of e-notice

February 22, 2018 13161 Views 0 comment Print

(1) The Centralised Communication Centre shall issue notice to any person requiring him to furnish information or documents for the purpose of verification of information in his possession. (2) The notice shall be issued under digital signature of the designated authority.

Advisory on Improved GSTR-3B Return Filing Process

February 22, 2018 16383 Views 3 comments Print

A) Advisory to Taxpayers on Improved GSTR-3B Return Filing Process Filing of GSTR 3B Return made easier and user friendly. Optimum utilization of ITC is displayed by System, which however can be edited. The amount to be paid in cash after taking into account ITC, gets displayed. One click Challan preparation to avoid payment of […]

What Statutory Auditors of PNB have Assured Stake Holders in their Audit Report for the Year Ended 31-03-2017

February 22, 2018 18840 Views 14 comments Print

There is a lot of misinformation in the media about the role of the statutory auditors of a Bank whether at the HO or the branches. It is not just a test check as stated by a CA to Economic Times. It is not as per an article in Business Standard of 20th February 2018

Interesting replies on FM’s Tweet on authenticity of GST Collection figures

February 22, 2018 20814 Views 16 comments Print

GST Revenue Collection figures appearing in certain section of media are not authentic.Therefore,the same may be ignored.The Department of Revenue, Ministry of Finance releases authentic GST Revenue figures for every month through PIB

Critical Analysis of Draft Companies (Beneficial Interest and Significant Beneficial Interest) Rules, 2018

February 22, 2018 4908 Views 0 comment Print

The Ministry of Corporate Affairs (MCA) vide exercising its power confer under Sec 89, Sec 90 and Sec 469 (1) Companies Act, 2013 Central Government hereby propose to make new rules w.r.t Beneficial Interest and Significant Beneficial Interest issue draft of the said rules on 15-02-2018.

Latest changein GSTR-3B filling makes GSTR-3B more user friendly

February 22, 2018 8289 Views 0 comment Print

1. Fill either CGST or SGST/UGST amount, other tax will get auto filled. 2. You can now save the Form on confirming details filled in the Table. You can fill balance details later. 3. Preview Form or download it for cross verifying saved details in any table(s) anytime. 4. No more Submit requirement to freeze […]

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