"11 July 2018" Archive

Gist of key 21 amendments proposed in GST Law

To iron out the practical hindrances and issues being faced by the Industry Inc since the implementation of GST, the GST Council on July 9, 2018 had unveiled the draft of proposed changes in GST law before they are introduced in the upcoming monsoon session of the Parliament. Total 46 amendments are suggested as a major step towards faci...

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Know your Income tax form- ITR-7

WHAT IS ITR-7 ITR 7 Form is for persons including companies required to furnish return under sections 139(4A) or 139(4B) or 139(4C) or 139(4D) or 139(4E) or 139(4F) ITR 7 APPLICABLE FOR: ITR-7 form is to be used when the assessee is one of the following: Having income from charitable /religious trust- Section 139 (4A) […]...

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Major Steps taken by Govt for Reducing Tax Litigations

In order to reduce the long pending grievances of taxpayers and to minimise litigations pertaining to tax matters and to facilitate the Ease of Doing Business, Government of India has decided to increase the threshold monetary limits for filing Departmental Appeals at various levels, be it Appellate Tribunals, High Courts and the Supreme ...

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Small Taxpayers- Avail benefits of Presumptive Taxation Scheme- CBDT

Small Taxpayers (Businesses&Professionals) should file their return on or before 31st july 2018 (Due date for filing Income Tax Return for A.Y. 2018-19). File Early Beat The Rush...

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Form GST API 01 available on GST Portal

New Functionality update on GST Portal: Form GST APL 01 (A form for Appeal to Appellate Authority)  is now made available on GST Portal. A facility has been provided to taxpayers or any other person, to file an appeal to first Appellate Authority, against any decision or order, passed against him by an adjudicating authority, within [&h...

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CBIC launches Web-help service for the taxpayers

Web-help service is now available on CBIC website for the taxpayers where they can get faster resolution of their query. This can be accessed on the website http://cbec-gst.gov.in  through SELF SERVICE option or by following below link https://cbec-gst.gov.in/cbec-portal-ui/?webticketing...

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Mandatory Annual KYC of all Directors of all companies

As part of updating its registry, MCA is conducting KYC of all Directors of all companies annually through a new eform viz. DIR-3 KYC . DIR-3 KYC is been notified vide Companies(Appointment and Qualification of Directors) Fourth Amendment Rules, 2018 dated 5th July 2018 and would be made available shortly for filing purposes. While filing...

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Vacancy for Chartered Accountants having experience in Direct Tax

Full time Job Vacancy for Chartered Accountants having up to 5 Year experience in Direct Tax at Jaipur (Rajasthan) with a Manufacturing Company and a Consultancy Firm for Managerial Role. Interested candidate can mail their CV at cv@ejobocean.com. Job Description -Advising on client’s queries and concerns over emails and calls. -Re...

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Assessment framed by AO on a non-existent company is a nullity

M/s Sony Mobile Communications (India) Private Limited Vs. DCIT (ITAT Delhi)

Assessment framed by AO on a non-existent company is a nullity in the eyes of law and void and the provisions of section 292 B cannot rescue the Income Tax Department: Sony India case...

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GST: Product ‘cryo container’ is classifiable under Heading 9617

In re M/s. Inox India Pvt. Ltd (AAR Gujarat)

In re M/s. Inox India Pvt. Ltd (GST AAR Gujarat) As per the technical specifications of ‘cryo containers’ submitted by the applicant, it has double walls of aluminum, where the inner wall functions as inner vessel and outer wall functions as outer shell; Vacuum and Super insulation between inner vessel and outer vessel provides long [...

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