RBI decided to extend the timings for customer transactions (initial cut-off) in RTGS from 4:30 pm to 6:00 pm with effect from June 01, 2019. RBI/2018-19/189 DPSS (CO) RTGS No. 2488/04.04.016/2018-19 Date: May 28, 2019 The Chairman / Managing Director / Chief Executive Officer of member banks participating in RTGS Madam / Dear Sir, Real […]
Kerala Government has issued notification declaring that the Kerala Flood Cess (KFC) will be levied from 1st June 2019 i.e. all the intra-state supplies of goods and services made by registered person to un-registered persons (subject to exemption specified) will be subjected to KFC.
Commissioner of Commercial Taxes Vs Ms Aswini Homeo Pharmacy (Supreme Court) The fact that the respondent is using the Homeopathic Pharmacopoeia referred to earlier in manufacturing of the hair oil has not been traversed by the appellant. Neither has the Commissioner dealt with that contention of the respondent nor was such a plea taken before […]
The real estate and infrastructure sectors are the backbone of any successful economy. In order to provide impetus to these sectors, the government introduced the concept of REITs and InvITs in India. REITs and InvITs have been creating quite a buzz in recent times, especially because of the first ever listing of REIT in India. In this backdrop, we present our article on why we believe that the REITs and InvITs may be the next superstars in India.
CIT Vs. State Bank of India (Bombay High Court) Whether on the facts and circumstances of the case, the Tribunal was correct in law, in admitting the additional ground of appeal when the assessee had not raised this issue before the Assessment Officer or the Commissioner of Income Tax (Appeals) ? Tribunal has jurisdiction to […]
The Kerala government has decided to levy a cess called Kerala Flood Cess for the purposes of providing reconstruction, rehabilitation and compensation needs which had arisen due to the massive flood which occurred in the State of Kerala in the month of August, 2018, for a period of two years, with effect from 1st June 2019. […]
In GSTR-9, every registered person has to provide details of outward supplies, inward supplies and inward supplies on which tax is payable on reverse charge basis (RCM) and determine the tax liabilities as appearing in financial statement of 2017-18 of the tax payers.
As per directions of GST Council, GSTN has partnered with some Billing and Accounting software vendors for providing free software to the Micro, Small and Medium Enterprises, with annual turnover under Rs 1.5 Cr, in a financial year. This facility is made available to the active Normal taxpayers, SEZ Developers/SEZ Units and taxpayers who have opted for composition scheme under the GST regime.
Kerala state government has issued notifications dated 25th May 2019 to levy the Kerala Flood Cess (‘Cess’) w.e.f. 1st June 2019 on the value of supply of goods or services or both.
GST Audit Document Requirements for GST Audit of Financial Year 2017-18. ♦ Audited Financial Statements ♦ Purchases Bill from 1st July 2017- 31st March 2018 ♦ Sales Bill from 1st July 2017- 31st March 2018 ♦ Refund documents (if applied for) ♦ GSTR 3B of all Months from 1st July 2017- 31st March 2018 ♦ […]
