"18 May 2018" Archive

After 47 days CBDT Releases mere Java Utility of ITR-3

Today CBDT has finally released after 47 days of start of Assessment Year 2018-19, Java Utility of ITR-3 (For individuals and HUFs having income from profits and gains of business or profession). It is worthy to note that CBDT is failed to release excel utility of ITR-3 and released only Java utility of ITR-3. Earlier […]...

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Reimbursement – Whether Leviable to Tax in GST regime?

Sometimes it happens that a supplier incurs certain expenses (e.g. travelling) and seeks reimbursement of the same along with his charges from his customer. Such supplier shows the reimbursement amount separately in the invoice. Can he avoid GST liability on such reimbursement is the issue for discussion in the present article ?...

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Posted Under: Income Tax |

CBIC extends due date to file Form GSTR-3B for April, 2018

Notification No. 23/2018-Central Tax (18/05/2018)

Seeks to extend the due date for filing of FORM GSTR-3B for the month of April, 2018 to 22nd May, 2018 vide Notification No. 23/2018 – Central Tax Dated: 18th May, 2018. Government of India Ministry of Finance Department of Revenue Central Board of Indirect Taxes and Customs New Delhi, Notification No. 23/2018 – Central […]...

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Section 68: Provisions related to Cash Credits /Undisclosed Income

Section 68 incorporates only a rule of evidence, placing the onus of proof on the assessee. There have been hardly any amendments in this section since its introduction....

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Posted Under: Income Tax |

E-Way Bill Provision in Rajasthan- Intra State & Inter State

E-WAY BILL PROVISION IN RAJASTHAN AS APPLICABLE FROM 20.05.2018 ♣ Vide Notification No. F.17 (131) ACCT/GST/2017/3199 DT. 26.03.2018, the Commissioner of State Tax (Rajasthan) has notified that the provisions of rule 138 (E-WAY BILL provisions) for movement goods covered under Schedule I, II, III, IV, V & VI i.e. all goods within th...

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Posted Under: Income Tax |

Highlight of recent Changes in ROC filing Fees/ Additional Fees

Highlights of Amendments / Changes in Section 403 vide The Companies (Amendment) Act 2017 and Rule 12 of the Companies (Registration of Offices and Fees) Rules, 2014...

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Posted Under: Income Tax |

Explanation of rule 42 of CGST Rules 2017 with practical example

Explanation of provisions of rule of 42 of CGST Rules 2017 by practical example :...

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Posted Under: Income Tax |

Govt notifies Madhya Prades GST Refund Sanctioning Authorities

Order No. 04/2018 (18/05/2018)

Govt notifies GST Refund Sanctioning Authorities under Madhya Pradesh Goods and service tax Act, 2017 vide Order No. 04/2018 dated 18/05/2018 based on amount of refund. ...

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Save more with Health Insurance

Health insurance is viewed as a significant investment and therefore tax deductions are offered u/s 80D of the Income Tax Act, 1961. Under this section, deductions are provided on the policies for self, spouse, dependent children and parents. Section 80D of the Income Tax Act, 1961 allows for deduction of money towards health insurance an...

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Posted Under: Income Tax |

Extension of date for mandatory digital payment through e-MPS

Trade Notice No. 11/2018-DGFT (18/05/2018)

A facility for digital payment for miscellaneous applications (e-MPS) was launched vide trade notice No. 25/2018 dated 14.03.2018. While DGFT RAs can access e-MPS through login id/ password, exporters are required to have a DSC (IEC embedded) to make payment. The digital payment was made mandatory after one month from the date of issuance...

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