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Archive: 03 October 2018

Posts in 03 October 2018

CIT cannot invoke revisionary jurisdiction against draft assessment order

October 3, 2018 1518 Views 0 comment Print

M/s. Apollo Tyres Limited Vs Addl. CIT (ITAT Cochin) A draft order, as such, is not appealable, except to be challenged by the assessee before the DRP, which exercises the power, inter alia, to make enhancement. The very rationale in the giving the power of enhancement to the DRP is to correct the draft order […]

GST- Taxation on Second Hand Goods- Marginal Scheme

October 3, 2018 34059 Views 19 comments Print

As we all welcome GST there are many things left unsaid that needs to be clarified and creating lot of trouble and confusion in the minds of the traders. Government is coming up with various notifications for the smooth working of this new tax regime and one of such important notification

Major Relief to Small Taxpayer’s in GST

October 3, 2018 17328 Views 1 comment Print

The Central Government has issued Exemption Notification No. 8/2017-CT(Rate) dated 28-06-2017 giving relaxation to Registered Persons under GST from major (and draconian) compliance required under section 9(4) of the CGST Act, 2017.

Allow filing of GST TRAN-1 either online or manually: Rajasthan HC

October 3, 2018 1737 Views 0 comment Print

SRF Limited Vs Additional Commissioner (Rajasthan High Court) Hon’ble Rajasthan High Court after taking cognizance in a bunch of writ petition filed, relating to loss of right to avail balance of input tax credit on account of technical difficulties in filing TRAN 1 has  directed the additional Commissioner to provisionally entertain the GST TRAN- 1 […]

Return Filing under Goods and Service Tax

October 3, 2018 8400 Views 1 comment Print

GST Return Process 1. Furnish the detail of Outward Supplies within 10 days of close of the month in Form GSTR-1 (Section 37 of CGST) 2. Supplies details are to be given in the form GSTR-1(Refer below diagram for information to be given in GSTR-1). 3. These details will be auto transferred in Form GSTR-2A of the recipients.

CIDCO is ‘Government Entity’ for GST: 12% GST applicable

October 3, 2018 12597 Views 1 comment Print

Whether CIDCO is covered under the definition of the term ‘Government Entity’ as per Notification No. 31/2017 – Central Tax (Rate) dated 13 October 2017?

Incorporation of LLP through a complete online system made a reality 

October 3, 2018 1230 Views 0 comment Print

Today, one can start business by incorporating a company through an on-line process without visiting any Government office. This was achieved in January, 2016 by establishing Central Registry Centre (CRC) for on-line incorporation of the company and reserving its unique name.

Lessons for Rahul Gandhi from his Partyman

October 3, 2018 825 Views 0 comment Print

The Congress Party, for the last few days, has been busy spreading disinformation about the Government’s possible moves in relation to the private sector company IL&FS. The Congress is a national saboteur. It wants to sabotage India’s economy by allowing a situation in relation to a company to persist, expand and become unmanageable. It lacks statesmanship and vision.

How to Surrender Director Identification Number (DIN)

October 3, 2018 125209 Views 76 comments Print

HAVING TWO DINs WHAT TO DO AND HOW TO CHECK IF ONE IS HAVING TWO DINs? This article is especially for the person who has obtained more then 1 (One) DIN at any time. We came to know that Regional Director (Noida) has issued “Show Cause Notice U/s 266G of the Companies Act, 1956” to more than 2 Lac Persons.

Interest u/s 234E cannot be levied in respect of TDS returns filed prior to 1.6.2015

October 3, 2018 3525 Views 0 comment Print

M/s. Terra Infra Development Limited Vs ITO (ITAT Hyderabad) Provisions for levy of fee in certain cases has been brought into the Statute book w.e.f. 1.7.2012, it has been brought under the purview of section 200A only w.e.f. 1.6.2015. Therefore, as rightly held by the Coordinate Bench in the case of M/s. Sonalac Paintings & […]

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