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Archive: May, 2018

Posts in May, 2018

Appeals Under Income Tax Act, 1961

May 1, 2018 304965 Views 7 comments Print

APPEAL BEFORE COMMISSIONER (APPEALS) If any demand is raised by the Assessing Officer in the assessment, what’s the next step for Assessee. Aggrieved tax payer can file appeal before the Commissioner (Appeals) having, jurisdiction over the tax payer. Designation of the Commissioner (Appeals), with whom appeal is to be filed is also mentioned in the […]

Sample Question Papers for DISA Exams : 50 Sets

May 1, 2018 128771 Views 68 comments Print

We are attaching herewith the excel utility containing 50 Sample Question Papers for DISA Exams. One Can Easily Use the file as it is based on Excel Formulas. After Finishing the Test, Score will appear automatically. Utility will Help you to prepare for DISA ET and AT.

Himachal Pradesh to roll out intra-state e-way bill WEF May 05, 2018

May 1, 2018 12333 Views 0 comment Print

Himachal Pradesh hereby notifies that no E-Way Bill shall be required for intra-state movement of goods within the state of Himachal Pradesh except for intra-state movement of following 17 goods of consignment value exceeding fifty thousand rupees:

GST Audit / Audit under GST

May 1, 2018 11379 Views 1 comment Print

As per sub-section (13) of section 2 of CGST Act 2017, Audit means examination of records, returns and other documents maintained or furnished by the registered person under this Act or the rules made thereunder or under any other law for the time being in force to verify the correctness of turnover declared, taxes paid, […]

Excel format to calculate Deferred Tax, MAT and Computation of Tax for 5 A.Y.

May 1, 2018 233922 Views 12 comments Print

Friends most of us face the challenge of calculating tax as per Income tax and AS 22. Here an effort is made to comprise all tax computation viz., Provision for Tax, MAT, Deferred Tax and allowance and disallowance of Depreciation under Companies Act and Income tax Act in one single excel file. Further to check […]

Provisions of Demand and Recovery Under GST

May 1, 2018 26646 Views 1 comment Print

Under self-assessment system of tax determination and payment of tax in the GST regime, there is every chance of inadvertently short payment of tax and sometimes deliberately taxes are also not paid by the certain category of assessees. GST law makers have incorporated the elaborate provisions for the recovery of tax under various situations such […]

April 2018 GST Revenue collection exceeds Rs. 1 Lakh Crore

May 1, 2018 1287 Views 0 comment Print

GST Revenue collection in the month of April 2018 exceeds Rs. 1 Lakh Crore The total Gross GST revenue collected in the month of April 2018 is Rs.1,03,458 crore of which CGST is Rs18,652 crore, SGST is Rs.25,704 crore,  IGST is Rs. 50,548 crore (including 21,246 crore collected on imports) and Cess is Rs.8554 crore (including […]

Addition on estimated basis by rejecting books without any adverse material cannot stand

May 1, 2018 2508 Views 1 comment Print

ITAT Mumbai held in the case of Parle Products Pvt. Ltd. vs. ACIT that Making addition on estimate basis by rejecting the books of account in the absence of any adverse material brought on record cannot stand.

Investment by Foreign Portfolio Investors (FPI) in Debt – Review

May 1, 2018 1203 Views 0 comment Print

While the FPIs are only permitted to invest in corporate bonds with minimum residual maturity of above one year, in order to bring consistency across debt categories, it is stipulated that investments by an FPI in corporate bonds with residual maturity below one year shall not exceed, at any point in time, 20% of the total investment of that FPI in corporate bonds.

Notification No. 3/2018-Customs (N.T./CAA/DRI) dated 01.05.2018

May 1, 2018 2772 Views 0 comment Print

Notification No. 3/2018-Customs (N.T./CAA/DRI)- In pursuance of notification No. 60/2015-Customs (N.T.), published vide number G.S.R. 453(E), dated 4th June 2015 in Gazette of India, Extra-ordinary, Part-II, section 3, sub-section (i), and as amended by notification No. 133/2015-Customs (N.T.), published vide number G.S.R. 916(E) dated 30th November 2015 in Gazette of India

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