"14 September 2018" Archive

Concept and Applicability of TDS and TCS provisions w.e.f. October 1, 2018

After getting deferred till September 30, 2018, the Central Government vide Notification No. 50/2018 – Central Tax dated September 13, 2018 and Notification No. 51/2018 – Central Tax dated September 13, 2018, has appointed the 1st day of October 2018, as the date on which the provisions of Section 51 of the CGST Act, 2017 […]...

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Mistakes in E-way Bill – Relaxation, Penalty and Clarification

Circular No. 64/38/2018-GST 14/09/2018

Various representations have been received regarding imposition of penalty in case of minor discrepancies in the details mentioned in the e-way bill although there are no major lapses in the invoices accompanying the goods in movement. T...

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Clarification on GST refund claims filed by UIN entities

Circular No. 63/37/2018-GST 14/09/2018

In order to expedite the processing of the refund applications filed by the UIN entities, the following formats/documents are hereby specified: 4.1 Refund Checklist: In order to bring in uniformity in the processing of the refund claims, a checklist has been specified in Annexure A. All UIN entities may refer to this checklist while filin...

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FORM GSTR-9A – Annual Return for Composition Taxpayer – Analysis

As per proviso to rule 80 of the Central Goods and Service Tax Rules, 2017, read with section 44 (1) of the Central Goods and Service Tax Act, 2017, the person paying tax under section 10 i.e. composition taxpayer need to furnish an annual return in FORM GSTR-9A. The composition taxpayer needs to furnish the […]...

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Meet N Saroja Ramachandran who Completed CA at the Age of 59

We are presenting below story of N Saroja Ramachandran who has Cleared Chartered Accountancy examinations at the age of 59 and become An inspiration for all who are pursuing Chartered Accountancy Course in her own words:- At the outset, I thank the Almighty & my family for having been there with me throughout this Chartered […]...

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Sec. 10AA Eligible unit’s loss can be set off against income of other units

DCIT (LTU) Vs. M/s. Avtec Limited (ITAT Mumbai)

Undisputedly, the assessee has claimed business loss of Rs.3,90,35,968/- from MEPZ Unit at Chennai, eligible for deduction u/s 10AA. It is also not in dispute that assessee has claimed set off of this loss against the income from other units. AO proceeded to hold that loss from MEPZ unit at Chennai, which is eligible for […]...

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Guidelines for Deductions and Deposits of TDS by DDO under GST

Circular No. 65/39/2018-GST 14/09/2018

Section 51 of the CGST Act 2017 provides for deduction of tax by the Government Agencies (Deductor) or any other person to be notified in this regard, from the payment made or credited to the supplier (Deductee) of taxable goods or services or both, where the total value of such supply, under a contract, exceeds two lakh and fifty thousan...

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Notification No. 79/2018 – Customs (N.T.), dated: 14.09.2018

Notification No. 79/2018-Customs (N.T.) [S.O. 4869 (E)] 14/09/2018

Customs Tariff Determination of Origin of Goods under the Comprehensive Economic Cooperation Agreement between the Republic of India and Republic of Singapore (Amendment) Rules, 2018....

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Cash Discount cannot be disallowed for mere non-mention of same on Invoice

M/s. Sai Krishna Agencies Medak Vs Asstt. (ITAT Hyderabad)

M/s. Sai Krishna Agencies Medak Vs Asstt. (ITAT Hyderabad) We find that the AO had made some enquiries from the customers to find out if they received any discounts from the assessee, but the assessee has not been confronted with the findings of such an ex-parte enquiry report. This is in clear violation of principles of […]...

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Misconduct Proceedings cannot be initiated against Advocates, CAs, CMAs under VAT Act

Pravin Natvarlal Modh Vs State of gujarat (Gujarat High Court)

Pravin Natvarlal Modh Vs State of Gujarat (Gujarat High Court) In the instant case the petitioner is holding a certificate as a sale tax practitioner from the year 1977. In 1983 he enrolled as a an advocate under the state bar council of Gujarat. The VAT authorities initiated misconduct proceedings under section 81 of the […]...

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