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 […]
In the case of Khoday Distilleries Ltd. The SC has explained the judicial effect of the dismissal of a Special Leave Petition, filed under Article 136 of the Indian Constitution.
United Bank of India invites application from practicing Firms of Chartered Accountants in India who fulfill the eligibility criteria as mentioned here under and are willing to have their firms empanelled as Concurrent Auditor and Revenue Auditor of the Bank for conducting Concurrent Audit and Revenue Audit of branches/offices.
Form 16 is a certificate issued by an employer to employee evidencing details of salary and other income and the TDS which is deducted from salary and deposited with the Income Tax Department. Form 16, essentially has two components to it- Part A and Part B.
The concept of ‘Supply’ is the cornerstone of GST architecture. The provisions relating to meaning and scope of supply are contained in Chapter III of the Act read with various Schedules given under the said Act.
