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Archive: 18 April 2018

Posts in 18 April 2018

Decide appeal for restoration of ‘struck off’ Cos. name by May 31, 2018: CBDT to CIT(A)

April 18, 2018 2991 Views 0 comment Print

Vide communication dated 29th December, 2017 in file of even no. (copy enclosed for reference), Board had issued necessary directions regarding filing of references for restoration of struck-off/de-registered companies under Companies Act, 2013. The field authorities were required to take immediate action in this matter, however, it has been found that till now action has been taken in a very few cases.

Simplification of Circular Prescribing Procedure for Interception of Vehicle

April 18, 2018 3732 Views 0 comment Print

As we are aware the CBIC has issued Circular No. 41/15/2018-GST Dated 13.04.2018 detailing procedure for intercepting of vehicle. However the said circular is very lengthy and hence a small flowchart covering only basics of the content of the circular has been made for the sake of brevity.

16 major changes and additional reporting requirement in ITR-6 for A.Y. 2018-19

April 18, 2018 32577 Views 6 comments Print

Apart for the additional reporting requirement under the Income tax Act the word GST has been mentioned at 35 places in the newly notified ITR-6, which clearly means the GST related reporting has to be mentioned at 35 places. the GST has made the changes at the following places:

Haryana to roll out intra-state e-way bill WEF 20th April 2018

April 18, 2018 8778 Views 0 comment Print

01 April 2018 is the date, when Eway Bill become mandatory for all inter – state (one state to another state) movement of Goods, exceeding value Rs.50000. Along with the above, Karnatka is the first state which has rolled out E-way Bill even for Intra – State (within state) movement exceeding Rs.50,000 from 01 April […]

An Insight into Taxability of Free Samples under GST

April 18, 2018 16749 Views 2 comments Print

Taxability of free samples is the topic perturbing most of the professionals. Most of opinions regarding taxability of free supplies, prima facie, are based on the definition of Supply as per Section 7(1)(a) of Central Goods & Service Tax Act (herein after referred to as Act)

IBBI Debars an IP from practicing as Insolvency Professional for 90 days

April 18, 2018 2916 Views 1 comment Print

Mr. Mohan sought approval of the Board for advertisement for EoI. Such approval is not envisaged under the Code. In the process, he tried to avoid responsibility cast on him under the Code and delayed the resolution process in contravention of clause 13 of the Code of Conduct. It is the duty of the resolution professional to conduct the entire resolution process.

A Comprehensive understanding of Job Work provisions Under GST

April 18, 2018 10113 Views 2 comments Print

The GST Act makes special provisions with regard to removal of goods for job-work and receiving back the goods after processing from the job worker without payment of GST. The benefit of these provisions shall be available both to the principal and the job worker.

TDS U/s. 194C not deductible on Reimbursement of haulage charges paid by C & F agents

April 18, 2018 8934 Views 0 comment Print

ACIT Vs Swastik Pipes Ltd. (ITAT Delhi) The assessee produced documentary evidences in support of its contention which had not been rebutted by AO and since impugned payments were in the form of reimbursement and no payments were made by assessee directly to shipping companies, therefore, assessee was not liable to deduct tax under section […]

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