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Archive: 07 June 2019

Posts in 07 June 2019

Live Course on How to Reply to GST Notices & SCN & to Fake ITC Notices?

April 29, 2024 7014 Views 0 comment Print

Join our live course to learn expert strategies for replying to GST notices, SCNs, and fake ITC notices. Understand litigation nuances, evidence insights, and practical tips for effective responses. Register now!

Join Live Webinar and get Book on Section 43B(h)

April 29, 2024 5073 Views 1 comment Print

Live Webinar with Book on Section 43B(h) (Financial Fitness) on 10th May 2024, 6:00 pm to 8:00 pm. CA Manoj Lamba will break down intricacies of Section 43B(h)

Interest payable on differential duty payable due to retrospective price escalation

June 7, 2019 4269 Views 0 comment Print

M/s. Steel Authority of India Ltd. Vs Commissioner of Central Excise (Supreme Court) Larger Bench of Supreme Court has held that interest for delayed payment of Central Excise duty is liable to be paid on the differential excise duty payable due to retrospective price escala Earlier, doubting the correctness of the Supreme Court decision in […]

Jail Over Bail Under GST: Dilemma?

June 7, 2019 16473 Views 0 comment Print

In the provisions of the GST Act, the GST Officers are conferred with the extra-ordinary powers of arrest of Tax evaders. However, the said power of arrest has to be exercised with deliberation and discretions and not as a tool of oppression and harassment at the hands of GST Officers.

Union Minister of Commerce & Industry Chairs Meeting on Export Credit 

June 7, 2019 822 Views 0 comment Print

To take Indian economy to 1 trillion dollar exports in goods, and 1 trillion dollar exports in services in the next five years, the Commerce Minister reiterated the importance of availability of credit at low rate of interest. He emphasised that it is the joint responsibility of banks and Government to ensure that export credit at competitive rates are available to businesses.

What you need to know if you want to trade Forex in India

June 7, 2019 15786 Views 5 comments Print

Forex refers to the foreign exchange market, and involves the selling and buying of fiat currencies. This is the largest and most liquid market on a global scale. Forex trading has become a popular practice for investors, due to the financial potential involved. Accumulating wealth and reaching impressive monetary gains is possible through forex trading, […]

Format of Standalone Statutory Audit Report of Listed Company

June 7, 2019 19029 Views 1 comment Print

We have audited the accompanying standalone financial statements of XYX Limited, which comprise the Balance Sheet as at March 31, 2019, the Statement of Profit and Loss (including Other Comprehensive Income), the Statement of Changes in Equity and the Statement of Cash Flows for the year ended on that date, and a summary of the significant accounting policies and other explanatory information

Extend due date of Annual GST Return/ GST Audit in Form GSTR-9, 9A, 9B-9C

June 7, 2019 90588 Views 50 comments Print

Representation on Extension of Due Date For Filing of Annual Return In Form GSTR-9, 9A, 9B And Audit Report In Form GSTR-9C

Format of Consolidated Statutory Audit Report of Listed Company

June 7, 2019 40752 Views 1 comment Print

We have audited the accompanying consolidated financial statements of ________ Limited and its subsidiaries (the Company and its subsidiaries together referred to as “the Group”), which comprise the Consolidated Balance Sheet as at March 31, 2019, the Consolidated Statement of Profit and Loss (including Other Comprehensive Income), the Consolidated Statement of Changes in Equity and the Consolidated Statement of Cash Flows for the year ended on that date

SEBI signs MoU with MCA to facilitate sharing of data & information

June 7, 2019 582 Views 0 comment Print

The MoU comes into force from the date it was signed and is an ongoing initiative of MCA and SEBI, who are already collaborating through various existing mechanisms. A Data Exchange Steering Group also has been constituted for the initiative, which will meet periodically to review the data exchange status and take steps to further improve the effectiveness of the data sharing mechanism.

Palm oil fruit is a fruit and entitled for GTA Exemption

June 7, 2019 1320 Views 0 comment Print

M/s Nava Bharat Agro Products Ltd Vs Commissioner of Customs, Central Excise & Service Tax (CESTAT Hyderabad) The main issue to be adjudicated is whether palm oil fruit is a fruit entitled for the exemption of Notification No. 33/2004-ST dated 03.12.2004. Apparently, notification is silent about any definition or the classification of fruit and all […]

Distance Certificate issued by Tahsildar cannot be rejected on Bus Route Distance basis without examining Tahsildar

June 7, 2019 4059 Views 0 comment Print

B. Kannabiran Vs ACIT (ITAT Chennai) Tahsildar, being the head of the revenue unit of the Taluk, issued certificate saying that the land in question is beyond 9 KMs radius from Tambaram municipality. This certificate issued by the Tahsildar was rejected by the CIT(Appeals) on the basis of bus route. The details with regard to […]

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