"09 May 2018" Archive

Format of Draft Certificates Under GST Law

Draft Certificates Under GST Law – Recommendatory Indirect Tax Committee of ICAI has released Draft Format of Various Type of Certificates to be issued under GST Law- Certificate under the State Goods and Services Tax Act, 2017 (in short SGST  Act) and the Central Goods and Services Tax Act, 2017 (in short CGST Act) in […]...

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Analysis of Section 186 with respect to Companies (Amendment) Act, 2017

The Companies (Amendment) Act, 2017 at first glance manifests sweeping changes in the Corporate Governance system of our country and highlights the intention of the government to change from control based or regulatory regime to a disclosure based and transparent regime. Section 186 is the hottest topic in the corporate sector today wh...

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No supporting document required for change of ‘gender’ to ‘transgender’ in PAN

New PAN allotment and Change request applications with ‘gender’ as ‘transgender’ is allowed without any hassle. Also, there is no requirement of depositing any supporting document for change of ‘gender’ to ‘transgender’ vide PAN Change request application made either through the portal of NS...

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Deduction U/s 80HHC on Duty Draw Back & DEPB to supporting manufacturer; SC refers to larger bench

Commissioner of Income Tax Vs M/s Carpet India (Supreme Court of India)

Whether in the light of peculiar facts and circumstances of the instant case, supporting manufacturer who receives export incentives in the form of duty draw back (DDB), Duty Entitlement Pass Book (DEPB) etc. is entitled for deduction under Section 80HHC of the Income Tax Act, 1961?...

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Unless otherwise expressly provided, same income cannot be taxed twice

Mahaveer Kumar Jain Vs Commissioner of Income Tax (Supreme Court Of India)

Mahaveer Kumar Jain Vs CIT (Supreme Court) It is a fundamental rule of law of taxation that, unless otherwise expressly provided, income cannot be taxed twice. Furthermore, a taxing Statute should not be interpreted in such a manner that its effect will be to cast a burden twice over for the payment of tax on […]...

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know your e-way bill jurisdictional Grievance Redressal Officer

Got any grievances related to e-way bill? Follow the link to know your jurisdictional Grievance Redressal Officer (CBIC and State /UT Governments) appointed under rule 138D of Central/ State GST Rules, 2017....

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Transition Form GST TRAN- 2- Things you must Know

1. Why do I need to file transition Form GST TRAN - 2? 2. What do I need to fill in the transition Form GST TRAN - 2? 3. What do I need to do to submit the transition Form GST TRAN - 2?...

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ICAI members can have Chartered Accountants Australia & New Zealand membership

Chartered Accountants Australia & New Zealand (CA ANZ) announces a Pilot International Pathway Programme for ICAI Members The Institute of Chartered Accountants of India (ICAI) has entered into a unilateral arrangement “Pilot International Pathway Scheme” with Chartered Accountants Australia & New Zealand (CA ANZ) for ICAI mem...

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India Gate Basmati Rice Case- No Anti-Profiteering as increase in price due to increase in GST

Sh. Kumar Gandhary Vs. KRBL Limited (National Anti-Profiteering Authority)

it is revealed that the ndia Gate Basmati Rice sold by the Respondent was not liable for tax before the implementation of the GST and after coming into force of the CGST Act, 2017 it was levied GST @ 5% w.e.f. 22.09.2017....

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HC issues Notices on Petition Challenging Constitution Of GST Tribunals

Pratik Satayanarayan Gattani Vs. Union Of India (Gujarat High Court)

Gujarat High Court has issued notice to the Union of India, Gujarat State government and the Goods and Service Tax Council on a petition moved by CA Prateek Gattani and Abhishek Chopra challenging the constitution of the Central as well as State Appellate Tribunals....

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