Indian Valuation Standards as issued by ICAI effective for the valuation reports issued on or after 1st July, 2018 The Institute of Chartered Accountants of India (ICAI) issues Valuation Standards as a benchmark for Valuation Practices applicable for Chartered Accountants Recognising the need to have the consistent, uniform and transparent valuation policies and harmonise the […]
This Article explains Standard on Auditing (SA) which are applicable for Audit of Financial Year 2017-18 and Financial year 2018-19.
There are some highly helpful points that can be considered while applying the name of the Company for overcoming the issue of rejecting of name from CRC.
The order mentioning the State / Central GST instead of IGST provisions could not be held as bad in law as the seizure of goods under section 129 of the SGST Act exists in CGST Act as well.
Dnyanoba Shajirao Jadhav Vs ITO (ITAT Pune) Interest awarded u/s. 23(1A) and 23(2) r.w.s. 28 of the L.A. Act is in the nature of solitium and an integral part of compensation. It is an admitted position that the receipt of compensation awarded under L.A. Act is a capital receipt. Whereas, interest awarded u/s. 34 of the […]
No penalty under Sec. 27(1)(c) of the Act could have been imposed on the assessee in respect of the addition of an amount of Rs. 47,66,952/- made by the A.O towards notional income of the villa owned by the assessee at Dubai.
Due to initial ambiguity, many of the taxpayers continued the earlier practice and has been paying GST on the ‘free supplies’. The recent clarification can be taken as a basis and may discontinue the GST payment on the ‘free supplies’. The GST paid in past may be claimed as refund if the recipient did not avail the input tax credit of it or reversed it now.
This articles is all about the relevant sections and provisions that deals with the Equalisation levy. explains briefly about its changeability, levy, statement required to be furnished along with the due date and all other related provisions.
The GST Council in such manner has looked to limit such problems by making a critical alteration in the CGST Act-2017, wherein it will be mandatory for the Authority for Advance Rulings (AAR) at the state level to be led by senior income authorities.
Q1. What is Advance Ruling under GST? Ans. ‘Advance Ruling’ is a decision provided by the Authority for Advance Ruling (AAR) or the Appellate Authority for Advance Ruling (AAAR) to an applicant on specified matters or questions, in relation to the supply of goods or services or both being undertaken or proposed to be undertaken […]
