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 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 […]
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 […]
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 […]
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 […]
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 […]
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.
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 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.
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 […]
