"09 December 2018" Archive

Suo Moto GST Registration Cancellation

FAQs on Suo Moto Cancellation of GST registration Q.1 Under which circumstances can a Tax Official initiate for cancellation of GST registration? Ans: Suo Moto Cancellation of registration may be initiated by the Tax Official for various situations as mentioned in the provisions of GST law like: – Failure to furnish Application for ...

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How to view and Download Additional GST Notice and Order

FAQs on View/ Download Additional GST Notices and Demand Orders Q.1. Can I view additional orders/notices without login on the GST Portal? Ans. No, you cannot view additional orders/notices without login on the GST Portal. Q.2. On the GST Portal, where from can I view additional orders/notices ? Ans. After login, navigate to Dashb...

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Intricacies of outward supply for filing up GSTR-9 & GSTR-9C

Amidst the clamour to extend the deadline of filing GST Annual Return and Reconciliation Statement in Form GSTR-9 (for normal taxable person)/ Form GSTR-9A (for composition taxpayers) and Form GSTR-9C for GST Audit by due date of December 31, 2018 for the Financial Year 2017-18,...

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Fast Track Merger – Procedure, Relevant Forms and Post Merger Impact

In this article the writer shall deliberate the provisions of section 233 of the Companies Act, 2013 which deals with the issue of fast track merger, he try to explain the process and procedure involved and also seeks to elaborate the likely benefits of the fast track merger....

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Partnership Firm Registration and Draft Partnership Deed

As per Section 4 of The Partnership Act, 1932: Partnership is the relation between persons who have agreed to share the profits of a business carried on by all or any of them acting for all....

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Allow manual filing of revised TRAN-1, ITC-01 & GSTR-3B: HC

Indusind Media Communications Ltd. Vs Union Of India (Bombay High Court)

Indusind Media Communications Ltd. and Anr. Vs Union Of India (Bombay High Court) In view of the above, the undisputed position before us is that the Petitioners are entitled to distribute the Input Credit available with it as on 1st July 2017 amongst its branches/locations. This distribution has not been possible on account of tech...

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Penalties Under CGST Act, 2017

Lets have a tour on penalties specified under sec 122 to sec 128 under CGST Act in an interesting manner that it will stick to our mind permanently. Where you will get versatile amount of Penalties in accordance with the various Offences under CGST ACT in a single place:...

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Persons not liable to obtain GST registration (Section 23 of CGST Act 2017)

Persons not liable to obtain gst registration:(sec23 of cgst act) Before discussing the provisions of sec 23 of cgst act we have to discuss sec 22 Sec22 says that Every Supplier who makes taxable supply of goods or services or both if his aggregate turnover exceeds 20 Lakhs shall be liable to be registered under […]...

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TDS – Quick and Complete Summary [Part-I]

In some manner, all of us must have somehow come across the Tax Deductions, be it on Salary, on Fees or any other kind of payments. But people are very less aware of the various situations and the law governing TDS. What are the limits up to which TDS should not be deducted? What are the troubles of […]...

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Revenue recognition under IND-AS & IFRS – Comparative overview

Revenue recognition under IND-AS & IFRS – Comparative overview- Article discusses Applicability of IFRS-15 and IAS-115 and further discusses the following- Revenue recognition steps- 5 steps model Step: 1  Identify the contract(s) with a customer Step: 2 Identify the performance obligations in the contract Step: 3 Determine the tra...

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