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Archive: 18 January 2019

Posts in 18 January 2019

Free YouTube Live on The global landscape –  from market’s to trade

May 24, 2024 87 Views 0 comment Print

Join us for an insightful and dynamic YouTube Live session on “The global landscape –  from market’s to trade.” with renowned financial analyst Ankit Baid, MBA Finance. The presentation explores shifting of the global economic landscape, focusing on the decline of US dominance and the rise of China. It examines the potential decrease in global […]

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

May 15, 2024 7401 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.

GST on Freight Charges

January 18, 2019 80775 Views 3 comments Print

Freight refers to bulk transportation of goods via train or truck, aircraft or ship. Since the transport of goods by freight is the commonly used transportation mode for the businesses supplying goods, the introduction of GST on freight charges hasn’t just affected the Indian freight sector but several other sectors as well. Generally, freight is facilitated either […]

Guidance Note on Reports in Company Prospectuses (Revised 2019)

January 18, 2019 5058 Views 0 comment Print

Guidance Note on Reports in Company Prospectuses (Revised 2019) Readers may note that this Guidance Note supersedes the Guidance Note on Reports in Company Prospectuses (Revised 2016) issued by the ICAI in December 2016. The ‘Guidance Note on Reports in Company Prospectuses’ provides guidance to the practitioners in case of engagements which require them to […]

Test of Proportionality must guide in determining if presumption under Sec.139 was rebutted

January 18, 2019 1275 Views 0 comment Print

It was held that in determining whether the presumption has been rebutted, the test of proportionality must guide the determination. The standard of proof for rebuttal of the presumption u/s 139 is guided by a preponderance of probabilities.

Fresh additions cannot be made in assessment due to revisional order u/s 263

January 18, 2019 2496 Views 0 comment Print

While framing of assessment in pursuance of revisional order passed under section 263, AO was entitled to consider only those items which had been considered by CIT and was not entitled to consider any other item afresh for making addition.

ITAT can extend Stay If Non-disposal of Appeal is not attributable to Assessee

January 18, 2019 858 Views 0 comment Print

Inatech India Pvt. Ltd. Vs ITO (ITAT Bangalore) From the narration of facts with regard to the non disposal of the appeal of the Assessee, it is clear that the delay in non disposal of the appeal is not attributable to any default on the part of the assessee. The law is by now well […]

Exercising of powers & performing of functions by officers in JCITs grade

January 18, 2019 933 Views 0 comment Print

Order u/s 120 (1) of the Income Tax Act, 1961 – Exercising of powers and performing of functions by the officers in the grade of JCITs – reg. F. No. 187/01/2019-ITA-1 Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes ITA-I Division North Block, New Delhi, Dated the 18 January, […]

Service Exports from India Scheme (SEIS) An Incentive Scheme for Service Exports

January 18, 2019 23163 Views 11 comments Print

Objective As per Foreign Trade Policy of India 2015-2020, Service Providers of Notified Services, located in India, shall be rewarded under SEIS, subject to conditions as may be notified. Objective of Service Exports from India Scheme (SEIS) is to encourage and maximize export of notified Services from India. Eligibility: Para 3.08 of FTP (a) Service […]

Conversion of OPC into Private/Public Company

January 18, 2019 22683 Views 7 comments Print

The One Person Company (OPC) is a newly incorporated type of company and was introduced in the Companies Act, 2013 to support entrepreneurs who on their own are capable of starting a venture by allowing them to create a single person economic entity. There can be only one, natural person resident of India who can […]

Legal Entity Identifier (LEI) A Global Unique Code For Entities In Financial Transactions

January 18, 2019 5415 Views 1 comment Print

ORIGIN AND NEED OF LEI The story of LEI Code starts 40 years ago from the BARCODE REVOLUTION in 1974, when Wrigley’s Chewing Gum packet with a BARCODE swiped under an electronic reader in a Super Market. This was the First time that any machine had “read” any item with a standardised 11 digit bar code […]

Whether Loan Waiver to farmers is one stop solution for eliminating Agrarian Distress in India?

January 18, 2019 2442 Views 0 comment Print

In recent times, loan waiver to farmers has become common agenda in manifesto of political parties. This has again gained the light of the day ahead of 2019 general elections. In this article let us analyse whether loan waiver can become a brahma asthra to address all problems faced by the farmers in India or it is only a tool for political mileage to political parties.

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