Whirlpool of India Ltd. Vs. DCIT (ITAT Delhi) In the present case, there is admission on part of the assessee that the quantum of depreciation claim was incorrectly computed at enhanced cost. It is well settled principle that ignorance of law is not excused and cannot be a ground to avoid tax liability. The Assessee […]
Earlier, the application for ADM Relief was required to be made manually to the concerned Joint Commissioner. After receipt of the application, consideration of the facts as also the report in this behalf, obtained from the Nodal Officer concerned, the request for ADM Relief was either rejected or granted.
E-form URC-1 is required to be filed by a Partnership firm/LLP under section 366 of the Companies Act, 2013 read with Rule 3(2) of the Companies (Authorised to Register) Rules, 2014 for conversion of partnership firm or LLP into Company.
Repercussions when invoice is not paid by the Recipient to Supplier of goods or services or both within the specified period. 1) If ITC is availed where full value of invoice alongwith applicable GST thereon is not paid to the supplier within 180 days from the date of invoice:-
Amendment in Rule 11U and 11UA omitting reference to the term accountant, thereby permitting only merchant bankers to determine the FMV of unquoted equity shares as per the Discounted Free Cash Flow Method
Representation on issue of notice for intimating discrepancies in return – GST ASMT-10 Rule 99(1)- Mismatch of Input Tax Credit claimed in GSTR 3B and Input Tax Credit available in form GSTR 2A.
Section 29 read with Rule 20 to 22 deals with cancellation of registration. As per section 29(1) of CGST Act, registration can be cancelled either by the officer suo moto or on filing an application for cancellation. In this article, we are only discussing about the procedures when an application for cancellation is made by the registered person.
Since last two months we have witnessed some advance rulings which have created panic in the trade and industry. We have already expressed our reservations on few rulings with a detailed write up earlier. Here we attempt to summarize few of such rulings along with our comments in brief.
What is Bond ETF? We all are aware about both the terminology used above i.e. Bond and ETF. Bond as we know is an instrument of investment which provides us the fix coupon rate of return over the period of certain time. On the other hand ETF stands for Exchange Traded Fund, the fund which […]
The income tax department has released E-filing utilities of ITR 1, 2, 3, 4, 5 and 7 for AY 2018-19. These are available at www.incometaxindiaefiling.gov.in for e-Filing. ITR 6 is not yet released and the same is expected to be available in coming few days.
