FM: India now 6th largest economy in the world with high growth Fiscal deficit down to 3.4%; average inflation 4.6% FDI of USD 239 BN in five years Banks recover Rs 3 Lakh Crores in outstanding loans Under the leadership of the Prime Minister, Shri Narendra Modi, the country has witnessed its best phase of […]
Tax collections increased from Rs 6.38 Lakh Crore in year 2013-14 to almost Rs 12 Lakh Crore this year 80% growth in tax base; number of returns filed increased from 3.79 crore to 6.85 Crore Within the next 2 years, almost all verification and assessment of returns selected for scrutiny to be done electronically The […]
Government Unveils vision for the Next Decade The Government has unveiled its vision for the next decade, listing thereby ten most important dimensions in 2030. “With this comprehensive ten-dimensional Vision, we will create an India where poverty, malnutrition, littering and illiteracy would be a matter of the past. India would be a modern, technology driven, […]
Government takes several measures to strenghthen MSMEs Gem platform extended to all CPSES Government undertakings to procure a fixed proportion of materials from women owned SMEs The Government has taken several measures to strengthen the Medium Small and Micro Enterprises (MSMEs). While a Scheme of sanctioning loans upto Rs. 1 crore in 59 minutes has […]
Rs. 1330 Crore provided in the Interim Budget 2019-20 for the Mission for Protection and Empowerment for Women An amount of Rs.1330 Crore has been provided in the Interim Budget for 2019-20 for the Mission for Protection and Empowerment for Women. This is an increase of Rs. 174 Crore over the Revised Estimates of 2018-19 […]
CIT(A) has in his order relied upon circumstantial evidence and human probabilities to uphold the findings of the AO. He also relied on the so called rules of suspicious transaction
Seeks to make amendments in the earlier issued circulars in wake of amendments in the CGST Act, 2017 (which shall come into force w.e.f. 01.02.2019) Circular No. 04/01/2019-IGST F. No. CBEC-20/16/04/2018 – GST Government of India Ministry of Finance Department of Revenue Central Board of Indirect Taxes and Customs GST Policy Wing **** New Delhi, […]
Perfect Circle India Pvt Ltd Vs Pr. CIT (Bombay High Court) The Revenue would content that the benefit of this proviso would be available to the assessee only prospectively w.e.f. 1.4.2013. Various Courts, however, have seen this proviso as beneficial to the assessee and curative in nature. The leading judgment on this point was of […]
CGST (Second Removal of Difficulties) Order, 2019- Due date for the statement under section 52(4) October, November and December 2018 extended from 31st January, 2019 to 7th February, 2019 Extension of due date for furnishing of FORM GSTR-8 (TCS Return by e-commerce operators) for Oct to Dec 2018 till 07.02.2019 vide ORDER No. 02/2019-Central Tax dated […]
It is hereby clarified that the value of supply of exempt services by way of extending deposits, loans or advances in so far as the consideration is represented by way of interest or discount, shall not be taken into account – (i) for determining the eligibility for composition scheme under second proviso to sub-section (1) of section 10;
