South Yarra Holdings Vs ITO (Bombay High Court) It is a settled position in law that re-opening of an assessment has to be done by an Assessing Officer on his own satisfaction. It is not open to an Assessing Officer issue a reopening notice at the dictate and/or satisfaction of some other authority. Therefore, on […]
Till date, Central Govt. have issued 10 notifications of Central Tax Rate. By these notifications, Govt. introduced the major changes in real estate sector, new composition scheme for service provider also. Here, you will find the detailed anyalysis of all these notifications in brief. Summary of Central Goods & Services Tax Tax Rate Notification published […]
Top Management of M/s. Manpasapd Beverages Ltd. Savli, Vadodara arrested in fake invoice GST fraud. Multi locational searches were conducted on various premises of M/s Manpasand Beverages ltd. on 23/05/2019. The searches resulted into unveiling of a huge racket of creating fake/dummy units for availing fraudulent credit and committing tax evasion of Rs. 40 Crores […]
Important Notes Pre-requisite: -Digital Signature of user should be register on TRACES to use the functionality. -Either DSC should be installed in the browser or e-Mudhra dongle/hard token USB protection device should be plugged in. With the help of Digital Signature supported KYC validation Deductor can avoid multiple KYCs . With Digital Signature supported KYC […]
Important Information : PAN Verification & Consolidated TAN-PAN File The TAN-PAN master is an excel file containing the list of Valid PANs mentioned for a particular Financial year, Quarter and Form Type The deductor before filing any statement can download this file for any previous Financial year and check for the validity of PANs of […]
New GST Return will be replacing existing GSTR-3B, GSTR-1, GSTR-2 and GSTR-3. Filing of GSTR-2 & GSTR-3 have been kept on hold by Government. Filing frequency of new return GST RET-1 will be monthly and quarterly. Smaller taxpayers will be having Option to file return in Form GST RET-2 and GST RET-3 on quarterly basis which is simpler to RET-1.
I have received requests from our members and upcoming professionals to provide notes on Offences and Penalties under GST Scenario. So I am trying to provide notes on the above subject at my best. Dear Collogues total 17 sections deals about offences and penalties from Section 122 to Section 138 of CGST Act. Here with […]
A. Where a taxable person, liable to pay tax under this Act transfers his business in whole or in part, by sale, gift, lease, leave and license, hire or in any other manner whatsoever, the taxable person and the person to whom the business is so transferred shall, jointly and severally be liable wholly or to the extent of such transfer, to pay the tax, interest or any penalty due from the taxable person up to the time of such transfer , whether such tax, interest or penalty has been determined before such transfer, but has remained unpaid or is determined thereafter.
DLF Commercial Projects Corporations Vs Commissioner of Service Tax (CESTAT Chandigarh) CESTAT held that Transferrable development right is immovable property, therefore, the transfer of development rights in the case in hand is termed as immovable property in terms of Section 3 (26) of General Clauses Act, 1897 and no service tax is payable as per […]
CBDT has changed of business codes for income tax return forms from A.Y. 2019-20. Before filing of Income tax return we must (ITR) ensure correct business sector along with correct business code has been selected. List of Business codes for ITR forms for A.Y. 2019-20 mentioned below:- Also Read- Business Codes For ITR Forms For […]
