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Archive: 11 April 2019

Posts in 11 April 2019

Live Course on Appeal, Pleading & Drafting under GST by CA Sachin Jain

May 15, 2024 7179 Views 0 comment Print

oin us for an immersive live course led by renowned expert CA Sachin Jain, as we delve into the intricacies of appeal, pleading, and drafting under GST.

RBI issues directions to prevent market abuse

April 11, 2019 1131 Views 0 comment Print

Market Abuse:It includes market manipulation, benchmark manipulation, misuse of information, or any other similar practice. Market abuse may arise in circumstances where financial market investors have been unreasonably disadvantaged, directly or indirectly, by others who:

ITC Utilization & Rule 88A

April 11, 2019 29814 Views 0 comment Print

Rule 88A of Central Goods and Services Tax (CGST) Rules, 2017 read with Section 49(5), 49A and  49B of CGST Act, 2017 deals with Order of utilization of input tax credit.  Rule 88A is been inserted vide Inserted vide  Notification No. 16/2019-Central Tax (Dated 29th March, 2019) and Section 49A and 49B were inserted vide […]

CBDT conducts search in the case of Sri Gurappa Naidu

April 11, 2019 897 Views 0 comment Print

The Income Tax Department conducted search on 9th April, 2019 in Vijaywada at the premises of Sri Gurappa Naidu, a cost accountant. An information had been received on toll-free-number that cash was kept at the residence of Shri Gurappa Naidu which was to be used in General Election.

Analysis of amended SEBI Law of Insider Trading for Window Closure

April 11, 2019 21876 Views 4 comments Print

To ensure that the regulatory framework dealing with insider trading in India is further strengthened, SEBI had notified SEBI (Prohibition of Insider Trading) Regulations, 2015 [PTI Regulations] in place of an earlier Regulations.

Composition Scheme for Services Sector

April 11, 2019 15954 Views 3 comments Print

GST Composition Scheme for Services Sector In line with the GST Council Meeting held on 10th Jan 2019, Service Providers can opt into the Composition Tax Scheme. In order to implement the said decision of Goods and Service Tax Council, the Central Board of Indirect Taxes and Customs have issued a notification no. 2/2019-Central Tax […]

20% deposit of tax pending appeal can be increased or decreased

April 11, 2019 6222 Views 0 comment Print

CBDT circular dated 29.02.2016 which requires 20% deposit of tax pending appeal is not rigid and cannot be implemented in all the cases. Based on the facts of the case, the deposit percentage can be increased or decreased.

Section 281B order ceased to have effect after expiry of six months from the date of assessment order

April 11, 2019 2325 Views 1 comment Print

The order passed by the Assessing Officer under Section 281B of the Act has been ceased to have effect after the expiry of six months from the date of the order of the assessment. Hence, the  apprehension  of the petitioner regarding the enforcement of the provisional attachment further would not arise and the same can be allayed with a direction to the respondent- authorities that the said order shall not be  enforced  until a decision is to be taken by the Appellate Authority on the stay application, if to be filed in the appeal proceedings by the assessee within a period of three weeks as aforesaid and is ordered

TP: Redeemable preference shares cannot be treated as equivalent to interest free loans & advances

April 11, 2019 4425 Views 0 comment Print

Transfer Pricing- No notional interest on transaction of purchase and sale of redeemable preference shares as it was not equivalent to interest free loans advances

Depreciation cannot be considered for computing section 14A disallowance

April 11, 2019 1920 Views 0 comment Print

Depreciation claimed by assessee under section 32 cannot be considered for the purpose of computing disallowance under section 14A because section 14A deals only with the expenditure and not any statutory allowance, such as depreciation under section 32.

AAAR / AAR have No jurisdiction to consider admissibility of service tax /VAT credit

April 11, 2019 1101 Views 0 comment Print

In re Kolte Patil Developers Ltd. (GST AAAR Maharashtra) The Appellate Authority for Advance Ruling upheld the ruling given by the Advance Ruling Authority by observing  that  since the Appellant has raised questions on the admissibility of the credit of the service tax and VAT paid under the pre-GST regime, it is held that neither […]

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