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Archive: 24 August 2018

Posts in 24 August 2018

GSTR-1 Due date extended for certain taxpayers with Turnover upto 1.50 Cr

August 24, 2018 1824 Views 0 comment Print

CBIC extends due dates for quarterly furnishing of FORM GSTR-1 for taxpayers taxpayers registered in Kerala, Mahe (Puducherry) and Kodagu (Karnataka) with aggregate turnover of upto Rs.1.5 crores for the quarter July, 2018 to September, 2018 vide Notification No. 38/2018 – Central Tax Dated: 24th August, 2018. Government of India Ministry of Finance (Department of […]

GSTR-1 Due date Extended for certain taxpayers with Turnover >1.50 Cr

August 24, 2018 1080 Views 0 comment Print

CBIC extends due dates for furnishing of FORM GSTR-1 for taxpayers registered in Kerala, Mahe (Puducherry) and Kodagu (Karnataka) with aggregate turnover of more than Rs. 1.5 crores for the months of July, 2018 and August, 2018 vide Notification No. 37/2018 – Central Tax Dated: 24th August, 2018. Government of India Ministry of Finance (Department […]

GSTR-3B Due Date Extended for taxpayers of Kerala, Mahe & Kodagu

August 24, 2018 49410 Views 1 comment Print

CBIC extends the due dates for filing FORM GSTR-3B for the months of July, 2018 and August, 2018 for taxpayers registered in Kerala, Mahe (Puducherry) and Kodagu (Karnataka) vide Notification No. 36/2018 – Central Tax Dated: 24th August, 2018. Government of India Ministry of Finance (Department of Revenue) [Central Board of Indirect Taxes and Customs] […]

RFP for Appointment of Firm of CAs with General Insurance Corporation of India

August 24, 2018 1350 Views 0 comment Print

Request For Proposal (RFP) / E-Tender For Appointment Of Firm Of Chartered Accountants For Certification Of Investment Risk Management Systems & Process (IRMSP) by General Insurance Corporation of India General Insurance Corporation of India Suraksha, 170, J. Tata Road, Churchgate, Mumbai – 400 020. Phone -> +9122 22867730 E-mail -> auditteam@gicofindia.com Tender Ref: IAD/2018-19/002 Date […]

Validity of time limit for availing input tax credit for FY 2017-18

August 24, 2018 34881 Views 13 comments Print

As per GST provisions, October 20, 2018 is the definite time limit for availing input tax credit on any inward supplies for the previous financial year ending March 31, 2018. This timeline is based on the due date for September month return. Is this time limit good in law? If GSTR-3B in lieu of GSTR-3?

Much needed clarification on Removal of restriction of refund of accumulated ITC on fabrics

August 24, 2018 15039 Views 1 comment Print

In the 28th GST Council meeting, it was decided to remove the restriction of not allowing refund of ITC accumulated on account of inverted duty structure on fabrics with prospective effect on the input supplies received after the date of issue of notification.

Advisory to taxpayers for filing refund application under GST-RFD-01A

August 24, 2018 4284 Views 0 comment Print

Advisory to taxpayers for filing refund application under GST-RFD-01A: 1. Refund application can be filed using refund application form GST-RFD-01A. 2. Refund application filing for multiple tax period is available for the below ground of refunds: – Export of Goods and Services – Without payment of Tax

7 Reasons Why Filing ITR with Tax2win is Everyone’s First Choice

August 24, 2018 12261 Views 0 comment Print

Discover the easiest way to file your income tax return with Tax2win. Say goodbye to confusion and paperwork!

Bogus purchases- Entire purchases cannot be added to total income of assessee

August 24, 2018 3405 Views 0 comment Print

These appeals are filed by the Revenue and cross objections by assessee against the orders of the Ld. Commissioner of Income Tax (Appeals)- 21, Mumbai dated 16.06.2016 for the Assessment Years 2009-10 and 2012-13.

31000% increase in share value can be suspicious but cannot be evidence

August 24, 2018 4353 Views 0 comment Print

The AO further relies on the shop increase of 31000% of the value of shares over the period of 2 years. Though this is highly suspicious, it cannot take the place of evidence. The Hon’ble Supreme Court has stated that suspicion however strong cannot be the basis for making an addition.

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