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Archive: 05 March 2018

Posts in 05 March 2018

Bombay HC Criticizes Advocates for Unethical Conduct and facilitating unethical misadventures of their clients

March 5, 2018 2124 Views 0 comment Print

Certain Advocates have forgotten the code of eithcs. They facilitate the unethical misadventures of their clients, encouraging their clients dishonest practices, causing grave stress to the Judiciary, and bringing the entire judicial system to disrepute.

Kerala HC allows department to cancel compounding scheme wrongly allowed with instruction to allow input credit on purchases

March 5, 2018 1797 Views 1 comment Print

The appeals are filed against the judgment of the learned Single Judge, affirming the right of the petitioner to pay tax under the compounding scheme. The respondent assessee is engaged in the manufacture and sale of ice-creams. The assessments were of the year 2015-2016 and 2016-2017.

Provision made by Bank for Interest on Overdue Deposits is allowable expense

March 5, 2018 3822 Views 0 comment Print

In the case of Oriental Bank of Commerce VS Additional Commissioner of Income Tax, Delhi High Court has held that provision made by bank for interest on overdue deposits can’t be disallowed.

DGFT amends Appendix 4J of Hand Book of Procedures 2015-20

March 5, 2018 1878 Views 0 comment Print

Export Obligation Period with pre- import condition from the date of clearance of each import consignment by Customs Authority- With this Public Notice, inputs/import items specified in Appendix 4J his been amended.

Conversion of Limited Liability Partnership (LLP) into Company

March 5, 2018 6936 Views 2 comments Print

LLP Act, 2008 does not cover the conversion of LLP into Company but in Companies Act, 2013 conversion of LLP into Company is covered in section 366. Please note that recently MCA has notified Companies (Authorized to Register) Amendment Rules, 2018 which shall came into force on 16.02.2018 in which form URC–1 has been revised, which […]

Calculate Ratio Between Two Numbers

March 5, 2018 3045 Views 0 comment Print

Just enter the two Number you can calculate the Ratio, we have used GCD (Greatest Common Divisor), Text and Substitute formula in Excel Sheet.

Process of Incorporation of a Company as per Companies Act 2013

March 5, 2018 75729 Views 1 comment Print

Let’s look at the Journey of Major Amendments in relation to Incorporation of Company since 1st April, 2014 to till date i.e. 01st March, 2018.

Guidance Note On Input Tax Credit under GST

March 5, 2018 61590 Views 3 comments Print

Meaning of Input Tax Credit (ITC) Input tax credit (ITC) means credit of Central Tax, State Tax, Union Territory Tax, Integrated Tax and Compensation Cess paid on supply of goods or services by a supplier that can be used by a recipient for payment of its output tax liability. Integrated Tax paid on import of […]

What are different payment status types under GST?

March 5, 2018 17538 Views 0 comment Print

What are different payment status types? 1. Initiated – If no intimation has been received from Bank (during the re-ping in case of E-payment) 2. Paid – CIN received by taxpayer and status updated on portal as PAID 3. Not Paid – default status on challan generation 4. Failed – Failure of any online transaction initiated by taxpayer

GST Payment Failure, Payment after Challan Expiry, Name on Cheque, amendment in wrongly filled payment challan

March 5, 2018 47709 Views 4 comments Print

1. My account was debited more than once for the same online transaction. How can I get the debit reversed? If the sum of both transactions is reflecting in the Electronic Cash Ledger, please contact the Help Desk using the contact numbers/e-mail IDs given on the GST Portal. In case only the original transaction amount […]

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