"06 November 2018" Archive

Sec 54 requires construction completion within 3 years irrespective of purchase date

Gandraju Prabhavathi Vs Pr. CIT (ITAT Visakhapatnam)

Benefit u/s 54 can be availed even if plot was purchased prior to sale of property provided construction of the house property is completed within the time frame provided in Section 54. ...

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GST on mobilization advance received against works contract services

Works contractors are still liable to pay GST on mobilization advance /any other advance received towards supply of a works contract services attracting GST....

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Posted Under: Income Tax |

Interest in GST: Whether on Gross Output Tax or Net Tax Liability

The interest is being charged by the Department on gross tax liability which is the output tax and tax payable on reverse charge mechanism without deducting any input tax credit i.e. net tax liability. Many taxpayers are getting notices from the GST Department regarding late filing of return. The GST Department is adding interest liabilit...

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Posted Under: Income Tax |

Non-filing of Part-B of E-way bill: HC orders release of goods on furnishing of security

New Shiva Transport Service Vs State of U.P. (Allahabad High Court)

As the complete details to be filled up in Part-B of the E-way Bill were supplied on 25.05.2018, the goods were not liable for seizure on 26.05.2018....

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Concept of Pure Agent under GST

As per Sec 2(5) of the CGST Act, 2017, agent means a person, including a factor, broker, commission agent, arhatia, del credere agent, an auctioneer or any other mercantile agent, by whatever name called, who carries on the business of supply or receipt of goods or services or both on behalf of another....

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Posted Under: Income Tax |

GST Credit Notes A Double Edged Sword In GST Annual Returns

Issue of Credit notes is an age old practice in business environment. They are issued by supplier to buyer for the sales return transactions. In GST there will be a tax component in each & every taxable supply transaction. When there is a supply of goods or services, supplier is liable to pay GST on such transactions....

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MCA proposes 20 further Amendments in Companies Act, 2013

Pursuant to recommendations made by Committee to review the offences under the Companies Act, 2013, the Companies (Amendment) Ordinance, 2018 has been promulgated on 2nd November, 2018....

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Posted Under: Income Tax |

Appointment of Auditor for Conducting Annual GST Audit of SIDBI

Request for Proposal For Appointment of Auditor for Conducting Annual GST audit of the Small Industries Development Bank of India [SIDBI]....

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Posted Under: Income Tax |

Disclosure of Father name not required by Single Mother for Birth Certificate of Child

Mathumitha Ramesh Vs The Chief Health Officer (Madras High Court)

Mathumitha Ramesh Vs The Chief Health Officer (Madras High Court) In the present case, the hospital in which the petitioner had given birth to a child had certified that the petitioner herein had delivered an alive girl on 23.04.2017 at 10.47 a.m. at Cethar Hospital, Trichy. The petitioner herein had also filed an af...

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Section 234E: Assessee not liable for late filing charges for the period prior to June, 2015

Gangamai College of Engineering Vs ACIT, CPC (TDS) (ITAT Pune)

Assessee could not be held liable for levy of late filing charges under section 234E for the period prior to June, 2015 in the absence of amendment to section 200A, which was brought on Statute from 1-6-2015....

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