Where dis allowance was made by revenue under section 14A in respect of interest and administrative expenses, it was made clear that where assessee had its own surplus fund, then no question of any estimation of expenditure under rule 8D would arise. Thus, revenue was not justified in disallowing interest and administrative expenses, when the same was made out of interest free fund.
Various courts have held that if assessee invests the amount in purchase / construction of building within the stipulated period and the construction is in progress, then the benefits of exemptions under section 54 / 54F, cannot be denied to the assessee.
The Board has constantly impressed upon the officers in the field formations the necessity of soft skills while dealing with taxpayers or their representatives. It is important that the behavior of officers and staff should be courteous, polite and above reproach.
Import of radiation generating components under Exim codes 9022 12 00, 9022 14 10, 9022 14 20, 9022 30 00, 9022 90 10, 9022 90 20 and 9022 90 30 of Chapter 90 of ITC (HS), 2017, Schedule – I (Import Policy), hereinafter, will be subject to prior regulatory clearance from AERB
Incorporation of new HS codes for laying down import policy for Kabuli Chana, Bengal gram and Others under Exim Code 0713 of Chapter 07 of ITC (HS), 2017, Schedule – I (Import Policy).
If we have IGST credit available with us then first of all we will have to set off IGST payable from this IGST credit and even after that If we have enough of IGST credit left then this IGST credit first will be used to set off CGST liability and if again we have some IGST credit left with us then set off SGST liability from it.
What is consolidated e-way bill? A consolidated E-way bill is generated when the transporter is carrying out multiple consignments in a single vehicle. In such cases, the transporter will select a number of E-way bills populated by the supplier and assign a common vehicle. Consolidated E-way bill allows the transporter to carry a single document […]
What is detention report:- If GST tax officer will detained goods or the vehicle of the tax payers or transporter more than 30 minutes without proper reason. In that case transporter or tax payer can generate Report of Detention in form GST-EWB-04 giving details of office in charge.
Provisions for expenditures have to be made in the reasonable way otherwise the same may be disallowed while computing the income and tax thereon of an assessee
For the month of March’18, GSTR 3B needs to be filed by 20th April’18. Considering the fact that this is the first closing year in GST, assessee should take care of the following points before GST returns are filed for Mar’18. Further, this is also important from the perspective of GST Annual Returns and GST […]
