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Chanakya’s words summarize the whole GST process – ‘even if something is very difficult to be achieved, one can obtain it with penance and hard work’. If we take into consideration the 29 states, the 7 Union Territories, the 7 taxes of the Centre and the 8 taxes of the states, and several different taxes […]
Seeks to further amend notification No. 50/2017- Customs dated 30.06.2017 so as to increase basic customs duty (BCD) on wheat from present 30% to 40% GOVERNMENT OF INDIA MINISTRY OF FINANCE (Department of Revenue) Notification No. 13/2019-Customs New Delhi, the 26th April, 2019 G.S.R. (E).- In exercise of the powers conferred by sub-section (1) of section […]
Extension of due date to 15th June, 2019 for filing E-Form ACTIVE (Active Company Tagging Identities and Verification) by any company incorporated on or before the 31.12.17 The Ministry of Corporate Affairs has issued Companies (Incorporation) Fourth Amendment Rules, 2019 and Companies (Registration offices and Fees) Second Amendment Rules, 2019 which shall come into force […]
Q.1. What is E-form ACTIVE? ACTIVE stands for Active Company Tagging Identities and Verification. The Ministry of Corporate Affairs has introduced the same for address validation of Active companies. Q.2. What is the applicability of the form? The form is applicable to every company incorporated on or before the 31st December, 2017. Such companies shall […]
Income Tax Department conducted search and seizure operations at 5 locations in the Kashmir Valley on 25.04.2019. The searches were carried out against a group which is a monopolistic wholesale distributor of pharmaceuticals in the Kashmir Valley.
The Income-tax Department has notified ITR Forms for A.Y 2019-20. The forms introduced seek more details as compared to previous years. Below is a list of changes brought in ITR Forms in simplified form including additional details required under each category of taxpayer. Also Read- CBDT notifies ITR for A.Y. 2019-20 / F.Y. 2018-19 and […]
Bharat Heavy Electricals Ltd. Vs Commissioner CGST, Central Excise & Customs, (CESTAT Delhi) There is no dispute that on 01/07/2017, the cesses credit validly stood in the accounts of the assessee and very much utilizable under the existing provisions. The appellants could not carry over the same under the GST regime. Thus the appellants were […]
The term ‘TDS’ refers to ‘Tax Deduction at source’. It is a mechanism wherein a person responsible to pay a sum of specified nature shall deduct an amount towards TDS and pay it to the credit of Central Government. Various TDS rates on various incomes have been prescribed under the Income-tax Act. This write up […]
As per Rule 138E, if an assesse, who is a composition dealer has not filed GST returns for two consecutive tax periods, e-way bill can-not be generated for making supply to him. In case of assesses other than composition dealers, if they do not file their GST returns for a consecutive period of two months, e-way bill can-not be generated for making supply to him.
While Disqualification of Directors is not a new concept, recent action by the Ministry of Corporates Affairs (MCA) under Companies Act, 2013, disqualification has become a talk of the town. Every Individual who were a director of non-active Companies (more popularly known as Shell Companies) has found out that their DIN (Director Identification Number) is disabled […]
