Article compiles 25 Important Points to be Considered before Filing of Income Tax Return for Financial Year 2017-18 / Assessment Year 2018-19.
Is it legally correct to claim ITC against invoice pertaining for FY 2017 – 2018 after September 2018 ? Section 16 of Central Goods and Service Tax Act, 2017 (CGST Act, 2017) specify certain conditions to claim input tax credit against any inward supply one of which is the last date to claim ITC against […]
In some occasions goods exported out of India are returned back for various reasons like Cancellation of Export Order For any Trade Disputes like Quality Reasons, Default of Payments, Non-Conformance to any Contractual Terms After Exhibition / Display in overseas Country Return after Project / Contract Closure or Completion Re-import of Exported Goods for Repairs, […]
In Hindalco Industries Ltd. v. Union of India where assessee filed writ petition against recovery of service tax demand raised upon it, petition was disposed of stating that on account of subsequent development and particularly CGST Act and the issue in petition was purely academic and rendered infructuous.
In 2015 CBDT issued Circular No. 21/2015 dated 10.12.2015 specifying monetary limits and other conditions for filing Appeals/SLPs by the Income Tax Department before Income Tax Appellate Tribunal, High Court & Supreme Court. Now, as a measure to reduce the tax litigations CBDT has revised these monetary limits as below vide its Circular No.3/2018 dated 11.07.2018:-
The article analyses 46 amendments proposed and posted at GST Council website for which suggestions/feedback and comments have been invited till 15-07-2018.
