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Discover the latest ITR forms for Assessment Year 2019-2020 and stay updated with the changes in income tax regulations.
Rules for Utilization of Input Tax Credit (ITC) have undergone a major change and considering its impact, this change will have on Working Capital Management, an explanatory note prepared by us about new Rules is given below :- Old set off rules for ITC under GST were as follows: – Payment for First use Then […]
Circular No. 11/2019-Customs- Phasing out of physical copies of Merchandise Exports from India Scheme (MEIS)/Services Exports from India Scheme (SEIS) Duty Credit Scrips issued with EDI port as Port of registration
Except the deductions provided under the first proviso to Section 6B(1) nothing else can be deducted from the total turnover as defined under Section 2(u2) for the purpose of levy of turnover tax under Section 6B of the Act.
CBIC amends Notification Nos. 20/2015-Central Excise and No. 21/2015-Central Excise both dated 08.04.2015 to incorporate procedure for utilisation of paperless MEIS and SEIS scrips MINISTRY OF FINANCE (Department of Revenue) Notification No. 01/2019-Central Excise New Delhi, the 9th April, 2019 G.S.R. 294(E).—In exercise of the powers conferred by sub-section (1) of section 5A of the Central […]
Observing that allegations regarding evasion of tax, against person engaged in the business of hallmarking, can only be with reference to its business activity, Kerala High Court has held that seizure of the gold jewellery, belonging to petitioners but seized from the premises of the hallmarker, was not justified. The Court also observed that goods entrusted by principal, with hallmarker, and covered by delivery challan, cannot be subject matter of confiscation order under Section 130 of the CGST Act, passed in relation to the hallmarker.
If parents are not available, Section 160 (1) (ii) of the Act will stand attracted and the Guardian will become the Legal Representative, liable to discharge all the tax obligations under the Act on behalf of the minor.
The main intention of removal of difficulties (ROD) order no. 02/2018 was to facilitate all the registered persons providing additional opportunity to rectify the errors or omissions of the financial year 2017-18 including availment of the GST input tax credit which was not availed within the due date i.e. September 2018.
Pankajbhai Jaysukhlal Shah C/O. Meena Agency Ltd. Vs ACIT (Gujarat High Court) It is the officer who records the reasons who has to issue the notice under section 148(1) of the Act whereas in the present case the reasons have been recorded by the jurisdictional Assessing Officer, whereas the notice under section 148(1) of the […]
Deduction U/s 54F was available to assessee in respect of full value of consideration received and not on the value taken by the Sub-Registrar for the purposes of stamp duty.
