The concept of composition scheme is not very new, it is based on the existing VAT law which basically was introduced to support the small supplier of goods. GST council based on the above law incorporated the concept of turnover based composition easing the burden of various compliance hassles for small suppliers.
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
It was decided in the meeting held on February 26, 2019 that Allahabad Bank and Corporation Bank be taken out of the PCA Framework subject to certain conditions and continuous monitoring. It has also been decided to take Dhanlaxmi Bank out of the PCA Framework, subject to certain conditions and continuous monitoring, as the bank is found to be not breaching any of the Risk Thresholds of the PCA Framework.
Certification of amounts eligible as Interest free Loan under the Karnataka Goods and Services Tax Act 2017 as incentives to the Industrial Units under Industrial Policies.
M/s. Caterpillar India Pvt Ltd Vs State Tax Officer (Madras High Court) According to the respondents in all writ petitions, the confiscation of the goods is perfectly in order as the petitioners have, admittedly, transported the consignments without valid E-way bills, thus violating clause (iv) of Section 130(1) above being, a contravention of the Act/Rules […]
U/s. 69 of the GST Act, the Commissioner is having power to arrest if he has reasons to believe that a person has committed an offence specified in Clause (a) or (b) or (c) of sub-section (1) of Section 132 of the GST Act. Section 132(1) (a), (b) and (c) of GST Act define types of offences and according to which, whoever commits offence of supply of any goods or services without issue of any invoice or issues any invoice or bill without supply of goods or services of both or avails input tax credit using such invoice, shall be punished with imprisonment of term which may extend to 5 years and with fine, if the amount involved is more than Rs.500 Lakhs.
eForm INC-22A: Active Company Tagging Identities and Verification (ACTIVE)- Article explains Law Governing the e-Form INC-22A, Purpose of the e-Form INC-22A, Specific Instructions to fill the eForm INC-22A, Fee For filing of eForm INC-22A, Processing Type of eForm INC-22A, SRN Generation On successful submission of eForm INC-22A and Email on Submission of eForm INC-22. A. […]
♦ Introduction GST was implemented in India from 1st July 2017 and a number of Notifications have been issued since then. The Rules have been amended multiple number of times and the law as it stands today is a complex vortex requiring significant skills for merely comprehending basic facets of the law. The amendment to principle […]
Learned counsel for the Union of India has opposed the petition and has submitted that the offence committed by the accused is serious in nature. In-fact, the accused had issued bogus invoices without actual movement of goods which led to involvement of fraudulent input taxes amounting to Rs.40.58 crores. Admittedly, company has deposited Rs.6.95 crores with the concerned authority towards non-payment of G.S.T. Case is still under investigation.
Brahm Datt Vs ACIT (Delhi High Court) CONCLUSION – Re-assessment not tenable in law in as much as the same is barred by limitation. Any subsequent amendment in the re-assessment provisions, if not specifically mentioned, are presumed to be prospective and hence not applicable in the present case. FACTS – Petitioner, a senior citizen, was […]
