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Archive: 05 May 2019

Posts in 05 May 2019

Postmortem of Union Budget 2024: A Comprehensive Webinar

July 24, 2024 6567 Views 3 comments Print

Join our webinar on July 24-25 for an in-depth analysis of Union Budget 2024. Learn about tax proposals, sector impacts, and investment insights. Register now!

Live Course on 360 degree Analysis of Input Tax Credit from a Litigation Perspective

July 18, 2024 4893 Views 0 comment Print

Join CA Sachin Jain for a live course on Input Tax Credit from a litigation perspective. Gain practical insights and master ITC complexities. Register now!

Penalty imposed without issuing a proper show-cause notice is invalid

May 5, 2019 14538 Views 0 comment Print

In the present case at the very inception notice initiating penalty is not in accordance with mandates of law. Moreover, it is settled position of law that such defect is not curable u/s 292BB of the Act. Therefore, we hereby quash the penalty order.

S.147 Basic condition of ‘reason to believe’ applies even to s.143(1) intimations

May 5, 2019 2514 Views 0 comment Print

Bombay High Court case – Ankita Choksey challenges re-opening notice under Income Tax Act, 1961. Assessing Officer’s jurisdictional challenge discussed.

Reassessment for Change of opinion not objected during Assessment- HC dismisses writ petition

May 5, 2019 933 Views 0 comment Print

Firstly, we may observe that the learned Single Judge was absolutely right in holding that the Assessee, having not raised an objection before the Assessing Authority to the re-opening of the assessment under Section 147/148 of the Act, should be deemed to have acquiesced to the same. Nothing prevented the Assessee from raising the objection, which could have been dealt with by the Assessing Authority in accordance with law.

ROC Annual Filing

May 5, 2019 178185 Views 6 comments Print

ROC Filing Every company is required to file the annual accounts and annual return as per The Companies Act, 2013 within 30 days and 60 days respectively from the conclusion of the Annual General Meeting. The ROC filing of annual accounts is governed under Section 129(3), 137, of The Companies Act, 2013 read with Rule […]

GST Audit Basics

May 5, 2019 9960 Views 0 comment Print

Introduction to GST Audit The introduction of the Goods and Services Tax regime is a revolutionary step in the domain of commodity and services tax, which has brought about a paradigm shift in the methodology of levy and collection of taxes. It is an internationally recognized multipoint tax system, providing for levy of tax on goods as well […]

How to start with GST audit?

May 5, 2019 16803 Views 0 comment Print

Just few days left for the deadline of GST audit and most of the companies have not yet started working on this. GST audit being for the first time will bring many challenges to every company. It’s better to start early, so as to have sufficient time to discuss various divergences and error points. This […]

All about Goods Transport Agency (GTA) under GST

May 5, 2019 123717 Views 13 comments Print

Goods transport agency Transportation of Goods by Road In terms of Notification no. 12/2017-Central Tax (Rate) dated 28.06.2017 (sr.no.18), the following services are exempt from GST Services by way of transportation of goods (Heading 9965): (a) by road except the services of: (i) a goods transportation agency; (ii) a courier agency; (b) by inland waterways. […]

GST on Reimbursement of Expenses to Professionals

May 5, 2019 73896 Views 14 comments Print

Expenses incurred by service provider acting as a PURE AGENT shall be excluded from value of supply if some specified conditions are fulfilled.It should be noted that you cannot exclude expenses incurred on behalf of Recipient of Service unless following conditions are specified. Relevant Section and Rule – Section 15 of CGST Act, 2017 & Rule 7 […]

ICAI 49th Campus Placement Programme

May 5, 2019 1128 Views 0 comment Print

The 49th Campus Placement Programme for the newly qualified Chartered Accountants was organised by the Institute during February-March 2019 at 17 centres across the nation. A comparative of the Offers made during the last 3 Campus placement drives is mentioned below.

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