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Archive: 02 September 2018

Posts in 02 September 2018

Remuneration to Chairman of Govt Company is Business Expense

September 2, 2018 1368 Views 0 comment Print

DCIT  Vs Garhwal Mandal Vikas Nigam Ltd. (ITAT Delhi) It was observed that as per the Memorandum of Association/Article of Association the Chairman is appointed by the governor of Uttarakhand for such period and upon such terms and on such remuneration, if any, by way of salary or honorarium as the governor may think fit. […]

Section 138 Attracted Even If Cheque Issued For Sale Consideration Not Disclosed in Sale Deed

September 2, 2018 16449 Views 1 comment Print

Bhawish Chand Sharma Vs Bawa Singh (Delhi High Court) The mutual agreement between the parties to disclose only a part of the consideration under the sale deed may attract other consequences for the parties. However, that by itself does not render the underlying transaction unlawful. Pertinently, it is not claimed that at the relevant time, […]

GST Registration – A GIST of All Relevant Provisions

September 2, 2018 12693 Views 1 comment Print

Goods and Service Tax (GST) in simple terms can be said to be an indirect tax, levied in India, on the supply of goods or services or both. Goods and Service Tax has been made applicable in India from 1st July, 2017 and the same has replaced various cascading taxes levied by the Central and State Government in India.

Estimates of Gross Domestic Product for First quarter of 2018-19

September 2, 2018 771 Views 0 comment Print

The Central Statistics Office (CSO), Ministry of Statistics and Programme Implementation has released the estimates of Gross Domestic Product (GDP) for the first quarter (April-June) Q1, of 2018-19, both at constant (2011-12) and current prices, along with the corresponding quarterly estimates of expenditure components of the GDP.

Understanding Body Parts of GSTIN (Goods And Service Tax Identification Number)

September 2, 2018 10911 Views 1 comment Print

Goods and service tax has been made effective from 1st July 2017. On applying for registration under Goods and Service Tax, a registered taxpayer will be allotted 15 digits unique code which is known as GSTIN. Full form of GSTIN is Goods and Service Tax Identification Number. The present article highlights the structural format / parts of GSTIN.

Amendments made in GST laws- a conversation between CFO & Indirect Tax Manager

September 2, 2018 5754 Views 1 comment Print

Let’s understand the amendments made in the CGST and IGST Act by way of CGST & IGST Amendment Act 2018 assented to by the President on 30.08.2018. A conversation between CFO and Indirect Tax Manager to discuss the amendments. Mr. Vinit, CFO of M/s Classic Care Limited a pharmaceutical company asked Mr. Vivek working as […]

Revised Tax Audit Report Form 3CD | A.Y. 2018-19 | Excel format | Clause wise changes

September 2, 2018 73350 Views 4 comments Print

Tax Audit Report Form 3CA & Form 3CD in Excel format, along with the clause wise changes mentioned against each clause number as amended by Income Tax Notification No. 33/2018-Income Tax dated 20/07/2018 and Circular No. 6/2018 dated 17/08/2018.

General Principles of Drafting with Focus on Contents of Deed

September 2, 2018 74652 Views 3 comments Print

Legal drafting is the most important instrument of legal communication. A professional need to have a very good hand at drafting as the skill to draft well is the skill to think and communicate well. Drafting is the collection and placing of all aspects of the matter in a logical manner and a lucid style […]

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