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Commissioner of Sales Tax, Maharashtra, amends with effect from the 1st April 2018 FORM –704- Audit report under section 61 of the Maharashtra Value Added Tax Act, 2002.
Third issue highlighted by the petitioner is that Central and State Acts permit rectification of mistakes. However, GSTN portal does not permit rectification of a return already filed. Rectification is to be made in the subsequent return. Nevertheless authorities are issuing notices to the assessees whenever rectification is made, treating rectification as a discrepancy between GSTR1 and GSTR3B. A large number of assessees are facing this problem.
The contention of the learned counsel for the petitioner is that that due to technical fault of the State Web-site E-way bill-02 could not be generated on 25.3.2018 before the movement of the goods from Varanasi to Fatehpur, however, the same was generated on 26.3.2018 in the morning which was much before the date of seizure order which has been admittedly passed on 27.3.2018 at 6 p.m.
In Mascot Entrade (P) Ltd. v. Union of India, the Assistant Commissioner of GST and Central Excise issued a show cause notice to the assessee related to service tax matter.
A non-governmental organization (NGO) usually termed as non-profit Organisation usually deliver resources or serve some social or political purpose. NGOs or Non-profit Organisation are primarily concerned with promoting a cause and engaged in a wide range of activities.
When penalty proceedings are sought to be initiated by the revenue under section 271(1)(c), the specific ground, i.e., either concealment of particulars of income or furnishing of inaccurate particulars thereof has to be spelt out in clear terms. Otherwise, an assessee would not have proper opportunity to put forth his defence. Therefore, penalty order was not sustainable in the absence of specific charge mentioned by AO.
That the Learned Commissioner of Income Tax (Appeals) -2, New Delhi has erred in deciding the appellate proceedings by confirming the additions made by the learned Assessing Officer without providing a reasonable opportunity to the appellant to submit and substantiate his claim on the additions made by the Learned Assessing.
Abheek Barua* We have argued “Hike the interest rate now“, 1st June, 2018) that the current macroeconomic situation warrants a policy rate hike. Rising and more dispersed core inflation, the immediate and possible second-round effects of the fuel price increases and the pressure on the rupee; all call for a 25 basis point hike in […]
While computing exemption under section 54F, expenditure incurred towards vacating the new house property from tenants were includible as part of its cost, because existence of encumbrance was specified in the purchase agreement and original cost of acquisition was much lower than fair market value of the house property due to such attached illegal occupation.
Shri Arun Kumar Jain Vs. ITO (ITAT Delhi) The A.O. noted that as per Section 54(2) of the I.T. Act, the amount of capital gain, which is not utilized by him for the purchase of new asset before the date of furnishing the ITR under section 139, shall be deposited by him, before furnishing such […]
