In Re. Zaver Shankarlal Bhanushali (GST AAR Maharashtra) Q.1 Is GST applicable on the compensation for alternate accommodation to be paid to me (the tenant of the old building) by the developer/owner? A.l Answered in the affirmative. GST is applicable on the compensation for alternate accommodation received by them. Q.2 Is GST applicable on the […]
These rules may be called the Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Third Amendment Rules, 2017. They shall come into force with effect from the 22nd May 2018.
In both the appeals, the controversy relates to the nature and treatment of amounts received by the assesses from warehousing activity. As per the assesses the receipts from the warehousing activities are liable to be treated as business income whereas as per the Assessing Officer the same are liable to be treated as income from house property.
The excess exports done towards the average export obligation fulfilment of an EPCG authorization during a year can be used to offset any shortfall in the Average EO done in other year(s) of the EO period or the block period as the case may be provided Average EO imposed is maintained on an overall basis, within the block period or the EO period as applicable.
Reference is invited to the Minutes of the Meeting dated 9.5.2018 under the Indo-Sri Lanka Free Trade Agreement as uploaded on the DGFT’s website
Conclusion: Notional interest on delay in realization of trade debt could not be charged from AE as there was uniformity in the act of the assessee in not charging interest from both AE and Non-AE debtors for delayed realization of export proceeds.
Facility to change return frequency for normal taxpayer is now available on GST Portal Taxpayers whose turnover is above Rs. 1.5 Cr and who have wrongly selected option as quarterly filing, now has been provided with facility to change the option to monthly, provided the taxpayer has not filed any return, as per the wrongly […]
A Company may reduce paid up share capital by following ways; 1. Reduction of share capital with the approval of NCLT 2. Reduction through buyback of paid up capital from the existing shareholders
Stepwise IT procedures for creating the liability and offsetting the liability in respect of tax and penalty collected from registered and unregistered tax payers during the enforcement activities
In case Demand ID is created under Section 74 of the CGST Act, 2017, the GST Portal now allows reduced payment towards penalty, as per law. A message is shown to the user, about the reduction in amount of penalty mentioned in the order, if he makes the payment within 30 days from the date of communication of the order andhe is making full payment of tax and interest, stated in the order.
