"17 May 2019" Archive

GSTR-9A Filing- Practical study

As per section 44 read with proviso Rule 80(1) of CGST Act and Rules, Every  taxable person(Who choose to pay tax under Composition under Sec.10 of CGST Act,2017) shall furnish the annual return in FORM GSTR- 9A. For the Financial Year 2017-18 to be filled on or before 30th June, 2019 as per Order No. 3/2018- Central Tax-Dated. 31st Dece...

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Posted Under: Income Tax | ,

Negotiable Instrument Act covers not only debt but also covers Later Liability

Madan Tiwari Vs Yashwant Kumar Sahu (Chhattisgarh High Court)

Madan Tiwari Vs State of Chhattisgarh (Chhattisgarh High Court) Purport of the special law under the Negotiable Instruments Act is to ensure that the promise to pay is abided by the person so promising. The provision under Section 139 of the NI Act is that it shall be presumed that the holder of a cheque […]...

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ITAT condones delay in filing appeal as sufficient cause for delay was exist

Mercedes Benz Education Academy Vs ITO (ITAT Pune)

The main plea of assessee was that because of multiplity of proceedings going on before different authorities filing of captioned appeal was delayed. The AR for the assessee had filed before ITAT an events chart of various assessment proceedings / appellate proceedings between the period 28.12.2007 to 21.05.2015, on which date the appeal ...

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GST: Mystery of Time of supply under JDA Unveiled!

Real Estate is an important part of the economy and is accountable for extensive part of its development investment, advancement of the nation’s infrastructure. The taxation of the real estate segment has also been challenging and litigated in many aspects. There are many open issues in relation to the determination of point of taxation...

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Posted Under: Income Tax | ,

Types of Audit under Goods and Services Tax with GST Audit Checklist

Audit under GST is the examination of records, returns and other documents maintained by a registered dealer. The aim is to verify the correctness of Turnover declared, Taxes paid, Refund claimed and input Tax Credit availed by an assessed as per provisions under GST along with is to assess the auditee’s compliance with the provision...

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Posted Under: Income Tax | ,

Practical Questions on Real Estate Sector in GST Regime w.e.f 01-04-2019

1. What is Joint Development Agreement (JDA)? • This is an arrangement between an owner of the land and a builder where the land owner contributes the land and the developer undertakes the responsibility of obtaining approvals, property development, launching and marketing the project with the help of his financial resources. • As ben...

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Posted Under: Income Tax | ,

HC orders release of goods being perishable on furnishing security by way of bond

M/s Neuvera Wellness Ventures Pvt Ltd Vs State of Gujarat (Gujarat High Court)

M/s. Neuvera Wellness Ventures Pvt Ltd Vs State of Gujarat (Gujarat High Court) The impugned order dated 2.4.2019 passed by the second respondent (Annexure-H to the petition) is hereby quashed and set aside. The matter is restored to the file of the second respondent who shall decide the same afresh in accordance with law after giving [&...

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Condonation of 253 days delay in filing appeal not allowed for demise of mother when business was going on

M/s. Brandavan Food Products Vs Commissioner (Appeals) (Chhattisgarh High Court)

Delay of 253 days in filing appeal before CIT(A) due to extraordinary situation such as facing of marital dispute by his daughter,  demise of the mother could not be considered when assessee was carrying on the commercial activities/business during the relevant period....

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Rule of Merit cannot be compromised & obstructed by unreasonable time schedule for admission.

Rajiv Pratap Singh Vs Guru Ghasidas Vishwavidyalaya (Chhattisgarh High Court)

Rajiv Pratap Singh Vs Guru Ghasidas Vishwavidyalaya (Chhattisgarh High Court) The Supreme Court in case of Asha v. Pt. B.D. Sharma University of Health Sciences and others (supra) has held that if the rule of merit is defeated by inefficiency, inaccuracy or improper method of admission, then it can be interfered and otherwise it would [&h...

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How to Download Form 27D and 27D PDF Converter Utility

Article contains  Brief Steps for Downloading Form 27D,  Important Information on Form 27D and  Pictorial Guide for Downloading Form 27D and 27D PDF Converter Utility V1.0. 1. Brief Steps for Downloading “Form 27D”. Step 1: Login to TRACES website by entering the “User ID, Password ,TAN of the Deductor and the Verification Code...

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Posted Under: Income Tax |

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