"08 May 2019" Archive

Date of filing ER-1/ER-2 return for April 2019 extended to 10.06.2019

Order No. 01/2019 Central Excise 08/05/2019

Extension of time limit for filing of Monthly Return for production and removal of goods and other relevant particulars and CENVAT credit specified in Form ER-1 and specified in ER-2....

NAA found Builder guilty of not passing of additional ITC benefit

Ms. Pallavi Gulati and Sh. Abhimanyu Gulati Vs M/s Puri Constructions Pvt. Ltd. (National Anti-Profiteering Authority)

The issue that needs to be dwelled upon is as to whether there was a case of not passing on of the benefit of ITC and whether the provisions of Section 171 of CGST Act, 2017 are attracted in the present case....

Application for Revocation of Cancellation of GST Registration

CBIC Clarification on Application for Revocation of Cancellation of GST Registration CBIC has issued Circular No. 99/18/2019-GST dt 23 April 2019 for Clarifications on issues relating to filing of application for revocation of cancellation of GST registration in terms of Removal of Difficulty Order No. 05/2019 Central Tax dt. 23 April 20...

Posted Under: Excise Duty |

3 Steps to follow Before you File GSTR9

This article is all about things you should follow before you think of filling GSTR 9 . Don’t just jump to file GSTR 9. First follow these 3 steps and then go to filling GSTR 9. 1. Matching   “TAX AS PER 3B   =   TAX AS PER GSTR 1 “ First check TAX paid as per […]...

Posted Under: Excise Duty |

Exemption u/s 10(23)(iiiad) cannot be denied for mere surplus 

New Amazing Shiksha Society Vs. ITO (Exemption (Ward) (ITAT Delhi)

New Amazing Shiksha Society Vs. ITO (Exemption (Ward) (ITAT Delhi) Exemption u/s 10(23)(iiiad) of the Income Tax Act, 1961 should not be denied to the assessee as selling of books and uniform to the students of assessee is part of educational activity only. Moreover, the impugned addition was made merely on the basis that surplus [&hellip...

Section 68 not applicable to Share Purchase against Issuance of Share

ITO Vs Pansu Commercial Pvt. Ltd. (ITAT Kolkata)

This is a simple case of acquiring shares of certain companies from certain shareholders without paying any cash consideration and instead the consideration was settled through issuance of shares to the respective parties. Hence, we hold that provision of section 68 of the Act are not applicable in the instant case and accordingly the ent...

Loss on revaluation of foreign exchange cannot be denied for mere failure to debit liabilities in books

DCIT Vs Creative Portico (I) (P) Ltd. (ITAT Mumbai)

Assessee could not be debarred from claiming a foreign exchange loss as per Accounting Standard-11 as deduction only for the reason that it had failed to debit liabilities in its books of account....

Section 153A: Completed assessment cannot be interfered in absence of discovery of incriminating material during search

ACIT Vs The M/s. Samor Properties Pvt. Ltd. (ITAT Ahmedabad)

Section 153A: Completed assessment cannot interfered absence discovery incriminating material during search ...

Commissioner (Appeals) cannot condone delay in appeal filling beyond statutory limit of 3 months

Muktabai Govind Pawar Vs Commissioner of Custom (CESTAT Mumbai)

Muktabai Govind Pawar Vs Commissioner of Custom (CESTAT Mumbai) The Customs, Excise, and Service Tax Appellate Tribunal ( CESTAT ) Mumbai bench has held that the Commissioner (Appeals), has no power to condone delay beyond three months under the Finance Act, 1994. The assessee was aggrieved with the order of the Commissioner (Appeals) who...

SEBI (Employees’ Service) (Amendment) Regulations, 2019

No. SEBI/LAD-NRO/GN/2019/15 08/05/2019

Securities and Exchange Board of India (Employees' Service) (Amendment) Regulations, 2019 shall come into force on the date of their publication in the Official Gazette....

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