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Archive: 19 May 2018

Posts in 19 May 2018

Registration U/s. 12AA can’t be denied merely because Few Objects of Society are meant for benefit of Members

May 19, 2018 828 Views 0 comment Print

In this Income-tax Appeal filed under Section 260-A of the Income Tax Act, 1961, the appellant Income Tax Department, has challenged the order dated 24.05.2017 passed by Income Tax Appellate Tribunal, Jodhpur Bench, Jodhpur in ITA No.336/Jodh/2016.

ITAT recalls Ex-Parte order as Consultant was pre-occupied with GST work

May 19, 2018 1452 Views 0 comment Print

Applicant along with their staff were extremely pre-occupied with the GST work of transition and registration of the dealers. Since, it was a new enactment and there were enormous complexities and unclearity, apart from the technological problems, continuously issued circulars and instructions etc., the said tax consultant could not file adjournment application

Marine paints cannot be considered a Part of Ship under GST Laws

May 19, 2018 2052 Views 0 comment Print

Whether marine paints supplied by the applicant, would be considered to be a part of ship and accordingly be then classified under SI No. 252 of Schedule I of Notification No. 1/2017 of Central Tax (Rates) dated June, 28, 2017?

All about Wealth Tax Act, 1957

May 19, 2018 136775 Views 9 comments Print

Article discusses about Basic provisions, Following entities are not liable to pay wealth-tax, Manner of computation of net wealth, Wealth-tax and residential status,  Assets covered/exempt under wealth-tax, Net wealth to include certain assets, Valuation of asset, Some of the significant provisions of Wealth-tax Law

No input Tax Credit of Education, SHE & Krishi Kalyan cess under GST

May 19, 2018 10758 Views 0 comment Print

Appellant not eligible to avail input tax credit against unutilised cenvat credit such as Education cess, Secondary & Higher secondary Education cess & Krishi Kalyan cess lying in his books of Accounts.

Interest component has to be excluded while levying penalty U/s. 221(1)

May 19, 2018 3099 Views 0 comment Print

The Revenue has assailed the judgment and order of the Tribunal thereby partly allowing the appeal filed by the Revenue against the judgment and order of the Commissioner (Appeals).

E-way bill within state of Punjab to commence from 01.06.2018

May 19, 2018 10488 Views 0 comment Print

Generate the e-Way Bills from the e-Way Portal on trial basis to get well versed with the system before the implementation of intra-state e-Way Bill w.e.f. 01-06-2018 in Punjab

Form GSTR 3B due date for April 2018 extended to 22.05.2018

May 19, 2018 55272 Views 8 comments Print

It has been decided to extend the last date for filing of return in FORM GSTR-3B for the month of April, 2.018 for two days, i.e., till 22nd May, 2018. The notification in this regard shall be published shortly.

All about ITR-6 as applicable for A.Y. 2018-19

May 19, 2018 39984 Views 0 comment Print

ITR-6- For Companies other than companies claiming exemption under section 11.Download ITR-6 E-filing Return Preparation Software for A.Y. 2010-11. Download New Saral-II (ITR-1) Excel Based Return Preparation Utility for the F.Y. 2009-10, A.Y. 2010-11

2 new features enabled in GSTN in Form GSTR-2A & GSTR-4A

May 19, 2018 16623 Views 0 comment Print

Information related to amendments made by supplier taxpayers in B2BA, CDNA, ISD & ISDA sections of their returns, are now available to normal tax payer, in auto drafted Form GSTR-2A. Form GSTR-2A is an auto drafted and read only form, based on data uploaded from the saved/submitted returns by supplier taxpayers.

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May 2018