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Archive: 11 October 2018

Posts in 11 October 2018

Live Course on Appeal, Pleading & Drafting under GST by CA Sachin Jain

May 15, 2024 7083 Views 0 comment Print

oin us for an immersive live course led by renowned expert CA Sachin Jain, as we delve into the intricacies of appeal, pleading, and drafting under GST.

Raw Marks & Scaling Records of CA Exam may be given under RTI

October 11, 2018 1269 Views 0 comment Print

Rajat Kumar Mehra Vs CPIO (CIC Delhi) The Commission, after hearing the submissions of both the parties and perusing the records, observes that the appellant has sought his raw marks and scaling record. However, the CPIO vide letter dated 28.07.2017 incorrectly denied the information under Section 8(1)(j) of the RTI Act stating that the answer […]

Issuance of Form ‘I’ under Central Sales Tax Act, 1956.

October 11, 2018 30411 Views 1 comment Print

All the Sales Tax authorities undertaking assessments, appeals, or, as the case may be, review, are hereby directed not to disallow the claims made under section 8(6) of the CST Act, merely on the ground that the declarations in Form ‘I’ are issued by Sales Tax/Commercial Tax authorities of other States.

GST Refund For Exporter’s – Key Changes

October 11, 2018 20553 Views 4 comments Print

Yesterday Government has issued two Notifications (Notification No. 53/2018 – Central Tax & Notification No. 54/2018 – Central Tax) making certain changes in Rule 89 & 96 of the CGST Rules, 2017. Gist of the changes are as under: Rule 89: Said Rule deals with the refund of tax in cases, other than IGST paid on […]

How to Calculate Eligible and Reverse Ineligible Input Tax Credit as per Rule 42

October 11, 2018 12921 Views 0 comment Print

As per Section 17 (1) of CGST Act, a registered person can take input tax credit on inputs or input services or both only when they are used for his business purpose only.  If they are used partly for business purpose and partly for other purposes, then the input tax credit is available only to […]

MVAT: Withdrawal of pending cases based on probable revenue involved

October 11, 2018 5607 Views 0 comment Print

Government of Maharashtra considers it expedient, to formulate a Scheme to decide the criteria for withdrawal of the assessment proceedings based on threshold revenue earnings, below which assessment proceedings may be withdrawn, and complete the assessments that may remain after such withdrawal, in a time bound manner :

MCA Amends disclosure requirement in Balance Sheet & P&L Statement

October 11, 2018 60399 Views 0 comment Print

MCA amends Instructions For Preparation of Balance Sheet and Statement Of Profit And Loss of A Company / NBFCs Ministry of Corporate Affairs notifies Ind AS Schedule III applicable to NBFCs. Schedule III will apply to NBFCs covered under Ind AS applicability. MCA has also amended the existing Division I (Indian GAAP) & Division II […]

No TDS on mere facilitating transportation of goods by hiring lorries

October 11, 2018 2526 Views 0 comment Print

I.T.O. Vs Bajaj Roadways (ITAT Kolkata) Assessee had merely hired the lorries and there was no contract between assessee and the concerned payees, i.e., truck owners. Since the assessee did not delegate its liability of transportation of goods to the truck owners by way of any contract or sub-contract, therefore, the payments made by the […]

Tax Audit Due Date Extension: Gujarat HC disposes writ as not pressed

October 11, 2018 14532 Views 9 comments Print

All Gujarat Federation of Tax Consultants Vs Union of India (Gujarat High Court) 11.10.2018–  It is an agreed position that subsequent to filing of these petitions, CBDT has granted extension for filing returns and accompanying documents. In that view of the matter, learned counsel for the petitioners does not press these petitions. Disposed of as […]

TDS not deductible on Internet connectivity charges & specialised line rental

October 11, 2018 190797 Views 1 comment Print

ACIT Vs SDV International Logistics Ltd. (ITAT Kolkata) it is observed that the assessee company was held to be liable to deduct tax at source by the A.O. from the payment of internet connectivity charges and specialised line rental u/s 194J of the Act being in the nature of royalty by relying on Explanations 4, […]

IBBI amends 3 Insolvency Regulations

October 11, 2018 750 Views 0 comment Print

IBBI amends (a) the Insolvency and Bankruptcy Board of India (Insolvency Professional Agencies) Regulations, 2016, (b) the Insolvency and Bankruptcy Board of India (Model Bye-Laws and Governing Board of Insolvency Professional Agencies) Regulations, 2016, and (c) the Insolvency and Bankruptcy Board of India (Information Utilities) Regulations, 2017

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