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Archive: 22 January 2019

Posts in 22 January 2019

Free Webinar: Analysis of 10 Recent Income Tax Judgments in Favour of Assessee

July 1, 2024 1743 Views 0 comment Print

Join our free webinar on July 7 at 5 PM for insights into 10 recent High Court income tax judgments favoring assessees. Expert analysis by CA Dipak Dama.

Companies (Acceptance of Deposits) Amendment Rules, 2019

January 22, 2019 119250 Views 0 comment Print

It is hereby clarified that Form DPT-3 shall be used for filing return of deposit or particulars of transaction not considered as deposit or both by every company other than Government company.

CBDT requests non-filers to Submit IT Return or Online Response

January 22, 2019 11232 Views 0 comment Print

CBDT identifies non-filers through Non-filers Monitoring System (NMS) by using Data Analytics and request the Non-filers to assess their tax liability for AY 2018-19 and file the Income Tax Returns (ITR) or submit online response within 21 days The Non-filers Monitoring System (NMS) aims to identify and monitor persons who enter into high value transactions […]

GST on Medicine

January 22, 2019 13515 Views 1 comment Print

In this modern growing world, human beings are suffering from various kinds of disease due to their lifestyle and habits. In today’s world, medicine is the first aid preferred for every disease. The usage of medicine is increase day by day. The current article helps to understand the GST provisions as applicable on medicine like […]

RCM on Security Services under GST W.E.F. 01.01.2019

January 22, 2019 348027 Views 47 comments Print

Reverse Charge Mechanism (RCM) under GST on Security Services (Applicability from 01.01.2019) –  RCM On Security Service has been introduced in GST by Government vide Notification No. 29/2018 – Central tax dated 31.12.2018. Before Understanding RCM on Security Service let’s first understand difference between Normal Charge & Reverse Charge. Normal Charge : In Normal Charge […]

Provisions related to GST on Goods Transport Agency

January 22, 2019 16566 Views 2 comments Print

What is GTA? As per Notification No. 11/2017 dated 28th June 2017, GTA (Goods Transport Agency) means any person providing goods transportation service by road and issues consignment note, by whatever name called. It is important to note that only who hire out vehicles for goods transportation and issues a consignment note is considered as […]

NDMC (Determination of Annual Rent) bye laws, 2009 are Ultra Vires of NDMC Act

January 22, 2019 4032 Views 0 comment Print

New Delhi Municipal Council Etc. Vs Association Of Concerned Citizens Of New Delhi And Others Etc. (Supreme Court of India) FACTS – NDMC made NDMC House Tax Bye-laws, 1962 and was published on 24th April, 1964. Section 60 empowers levy of taxes which includes property tax. NDMC adopted existing 1962 bye-laws in so far as levy […]

Survey Provisions in Income Tax- Section 133A

January 22, 2019 14481 Views 0 comment Print

Understand the provisions of Income Tax Section 133A for survey purposes. Learn about the authoritys power to enter and inspect books/documents at any place of business or profession.

Addition not sustainable for non-production of bill for sale of agricultural produce

January 22, 2019 2766 Views 0 comment Print

Smt. Annakkalanjiam Mathivanan Vs ACIT (ITAT Chennai) The Assessing Officer as well as the CIT(Appeals) have to appreciate the fact that the agricultural products in this country are traded in unorganized sector. The workforce in the agricultural sector is unorganized. When the agricultural products are traded in unorganized sector in the country, expecting the assessee […]

Taxability of the Joint development agreement (JDA) under GST- Part 1

January 22, 2019 25458 Views 2 comments Print

Taxability of transfer of the land development rights by the landowner has always been a subject matter of the dispute under the erstwhile regime of the service tax wherein department used to contend that the transfer of development right shall qualify as service leviable to service tax, unless such rights are transferred through registered document and same issue has been carried forward in the GST also.

International Payment Methods

January 22, 2019 6345 Views 0 comment Print

Payment is a Critical Phase in International Trade Transactions. To succeed in today’s global marketplace and win sales against foreign competitors, exporters must offer their customers attractive sales terms supported by appropriate payment methods. Because getting paid in full and on time is the ultimate goal for each export sale, an appropriate payment method must […]

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