etitioners have claimed tax input credit on the basis of fake invoices hence Writ Petition is dismissed with cost of Rs.1,00,000/- only.29. The cost amount be deposited with the Rajasthan High Court Legal Services Authority within four weeks of the date of this order and proof thereof, be submitted with the Registrar (Judicial). If the proof of depositing of amount is not submitted, let the matter be listed before the Court for appropriate course of action.
What is Gratuity? Gratuity is a lump sum that a company pays when an employee leaves an organization and is one of the many retirement benefits offered by a company to an employee. In India, gratuity rules and requirements are set out under the Payment of Gratuity Act, 1972. An employer may also choose to […]
Composition Scheme for Services under GST Effective from 1st April,2019 – Notification No. 2/2019-Central Tax (Rate) dated 7th March, 2019 1) Description of supply First supplies of goods or services or both upto an aggregate turnover of fifty lakh rupees made on or after the 1st day of April in any financial year, by a […]
Ministry of Corporate Affairs (MCA) is bringing continuous changes in the Companies Act, 2013 and the rules made thereunder with the objective of developing a transparent and compliant corporate ecosystem in the country. It has most recently amended Companies (Incorporation) Rules, 2014 via an amendment dated 21.02.2019 and inserted Rule 25A in the Companies (Incorporation) […]
Q.1 What is the turnover limit for Quarterly filing of GST return? Answer: Quarterly filing of GST return is available only if aggregate turnover during the preceding financial year up to Rs. 5.00 Cr. For newly registered taxpayers, turnover will be considered as zero and hence they will have the option to file monthly, Sahaj, Sugam […]
FSSAI License Fees in India Food Business Operators who are involved in the small-scale food business have to obtain FSSAI Registration. The businesses that needs to obtain the FSSAI Registration are as follows: (1) Any person who sells or manufactures food materials all by himself. (2) Any person except a caterer who distributes food materials […]
How to claim money when dividend amount is transferred to Investor Education and Protection Fund (IEPF). Any person whose shares, unclaimed dividend, matured deposits, matured debentures, application money due for refund, or interest thereon, sale proceeds of fractional shares, redemption proceeds of preference shares etc., has been transferred to the Fund, may claim the shares […]
Payment to the film distributors is not subject to TDS and therefore disallowing expense by invoking the provisions of Section 40(a)(ia) is not justified
SHIFTING OF REGISTERED OFFICE OF THE COMPANY FROM ONE STATE TO ANOTHER UNDER COMPANIES ACT, 2013 I. INTRODUCTION: Section 12 and 13 of the Companies Act, 2013 and Companies (Incorporation) Rules, 2014 states the law and procedure regarding having a registered office of the Company and shifting of registered office of the Company. Provisions and […]
Shri Shantilal B. Parekh Vs ITO (ITAT Mumbai) BOGUS PURCHASES – On the basis of information, huge racket of hawala dealers involved in issuing bogus invoices to allow the traders to claim tax credit was discovered. Assessee was alleged to be one of the beneficiary to who dealt with certain parties engaged in hawala racket. […]
