A supplier will come to know the extent of his tax liability which has to be discharged on a continuous and regular basis only after assessment. Assessment means determination of tax liability and includes self-assessment, re-assessment, provisional assessment, summary assessment and best judgment assessment.
Government e Marketplace [GeM] has launched Womaniya on GeM, an initiative to enable women entrepreneurs and women self-help groups [WSHGs] to sell handicrafts and handloom, accessories, jute and coir products, home décor and office furnishings, directly to various Government ministries, departments and institutions.
This Article discusses on liability of GST on Stock Transfer from the Head Office in one State to its Branches in other States and GST credit on Stock transfer. For the purpose of understanding the questions involved, following relevant provisions of the GST law are highlighted: (i) . Rule 28 deals with valuation of a […]
Article explains Who is casual taxable person, Registration of Casual Taxable Person in GST, Application for registration by Casual Taxable Person in GST, Advance Payment of tax by Casual Taxable Person Validity of registration of Casual Taxable Person, Refund by Casual Taxable Person, Input tax credit to Casual Taxable Person and Clarifications of issues under […]
Article explains Persons required to generate E-way Bill, Primary responsibility of generating e-way bills, E-way bill in case of Supply of goods by unregistered person to unregistered recipient, Goods exempted from e-way bill requirement, Threshold limit for generating e-way bill, Validity period of e-way bill, E-way bill in case of Movement of goods for shorter […]
ACIT Vs Sh. Bhavi Chand Jindal (ITAT Delhi) Since no specific query was raised, at the time of recording statement under section 132(4) and during the assessment proceedings, however, the manner was substantiated by filing written submission and also referring relevant documents relating to undisclosed income, which were found and seized. Therefore, assessee was not […]
ATS Infrastructure Ltd. Vs ACIT (ITAT Delhi) Completed assessments can be interfered with while making assessment under section 153A only on the basis of some incriminating material unearthed during search or requisition of documents or undisclosed income or property discovered in the course of search which were not produced or not already disclosed or made […]
FIS Global Business Solutions India Pvt. Ltd. Vs PCIT (Delhi High Court) Reliance by the Revenue upon an audit report, cannot be considered as tangible material. This Court is of the opinion that Carlton Overseas Pvt. Ltd. v. Income Tax officer & Ors., (2009) 318 ITR 295 concludes the issue in the present case; the audit objection […]
M/s. Kottaram Agro Foods Pvt. Ltd. Vs ACIT (OSD) (ITAT Bangalore) At the very outset, it was submitted by ld. DR of revenue that as per para 4.2 of the assessment order for Assessment Year 2014-15 and para no. 4.3 of the assessment order for Assessment Year 2015-16, it is noted by the AO that […]
The Indian MSME Sector The Indian MSME sector is the backbone of the national economic structure and has unremittingly acted as the bulwark for the Indian economy, providing it resilience to ward off global economic shocks and adversities. With around 63.4 million units throughout the geographical expanse of the country, MSMEs contribute around 6.11% of the […]
