1,75,000 MT of pulses to be imported from Mozambique, during the fiscal year 2019-20 is allowed for import, subject to the following conditions: a. Import will be allowed only through the following 5 ports: (i) Mumbai, (ii) Tuticorin, (iii) Chennai, (iv) Kolkata and (v) Hazira
A. New Functionalities available in CBIC-GST Application: i. Tax officers can block/unblock ITC credit in Credit ledger at GST ii. Tax officers can see annual return GSTR 9 return filed on GST iii. Tax officers can see annual return GSTR 9A return filed on GST iv. Tax officer can see GSTR 2X return, claiming TDS/TCS […]
Prohibition on import of milk and milk products (including chocolates and chocolate products and candies/ confectionery/ food preparations with milk or milk solids as an ingredient) from China is extended until the capacity of all laboratories at ports of entry have been suitably upgraded for testing melamine.
Mohanlal Champalal Jain Vs ITO (Bombay High Court) Assessing Officer has proceeded on wrong premise that even when called upon to state why the petitioner had not filed return of income, he had not responded to the said query. The petitioner did communicate to the Department that he had no taxable income and therefore, there […]
Bombay High Court in the writ filed by the Chamber of Tax Consultants has held that CBDT’s action plan for granting incentives to CIT(A) on account of enchantment of assessment, levy of penalty, strengthening the order of AO, has been struck down retrospectively.
Under Sections 125 read with Section 126 of the Customs Act, 1962 where the redemption fine in lieu of confiscation is not paid within the time stipulated, the Central Government is entitled to retain the excess auction sale proceeds of the confiscated goods, after adjustment of the duty, penalty, interest and other statutory dues.
Petitioner Rudra Autoparts Distributor filed writ petition praying to allow filing of form GST Tran 1 to enable it to claim transitional credit of eligible duties in respect of inputs held in stock on the appointed day in terms of Section 140(3) of the Central Goods and Services Tax Act, 2017 read with Rule 117 of the Central Goods and Services Tax Rules, 2017.
In a vibrant economy like India, government constitutes one of the largest consumer. Public procurements are lucrative source of revenue for any business. However, because of complex eligibility norms and non-transparent selection process, often well-established and large business entities bag government contracts. In order to bring transparency to the process and increase the participation of […]
Coming to the filing of a reconciliation statement in FORM GSTR-9C, it is important to note that only those registered taxable person whose aggregate turnover during a financial year exceeds INR 2 Crore are required to file reconciliation statement in FORM GSTR-9C along with the filing of an annual return in FORM GSTR-9.
Scrutiny Selection date is fast approaching for cases to be selected for the A.Y.2018-19 by 30th September, 2019. The Finance Act, 2017 has made a slew of changes in various heads of income. Though adequate care has been taken while filing return of income but the need arises to have a relook at the changes made […]
