"21 June 2019" Archive

Restriction on E-way Bill Issuance relaxed till 21st August 2019

Notification No. 25/2019 –Central Tax [G.S.R. 443(E)] (21/06/2019)

CBIC has postponed the date of applicability of Rule 138E to 21st day of August, 2019 from existing 21st day of June, 2019. Rule 138E provided that if a registered dealer is failed to file GST Return for consecutive two tax periods, there would be Restriction on furnishing of information in PART A of FORM GST […]...

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Lackadaisical attitude in effective redressal of taxpayer grievance- Criticised by CBDT

DO No. Dir.(Hqs.)/Ch.(DT)/39(2)/2019 (21/06/2019)

Inspite of all these efforts by the Board it is seen that the total number of pending grievances on CPGRAMS as on 20.06.20 19 is 2647 out of which 885 grievances are pending for more than 30 days. Likewise 34026 cases of e-Nivaran are still pending for resolution. These figures are a cause of serious concern and point to a lackadaisical a...

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CBIC extends due date of FORM GSTR-9, GSTR-9A & GSTR 9C

On account of difficulties being faced by taxpayers in furnishingthe annual returns in FORM GSTR-9, FORM GSTR-9A and reconciliation statement in FORM GSTR-9C, the due date for furnishing these returns/reconciliation statements to be extended till 31.08.2019...

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35th GST Council Meeting- GST rate related change

On issues relating to GST concessions on electric vehicle, charger and hiring of electric vehicle, the Council recommended that the issue be examined in detail by the Fitment Committee and brought before the Council in the next meeting....

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NAA tenure extended for 2 Years; Phased electronic invoicing system introduction; Decision on GSTAT

The tenure of National Anti-Profiteering Authority has been extended by 2 years. The Council also decided to introduce electronic invoicing system in a phase-wise manner for B2B transactions. E- invoicing is a rapidly expanding technology which would help taxpayers in backward integration and automation of tax relevant processes....

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Extend due date of GSTR 9, GSTR 9A, GSTR 9C to 31.10.2019: ICAI

ICAI/IDTC/2019-20/REP/6 (19/06/2019)

ICAI has made a Request for extension of Last Date for filing of Annual returns in Form GSTR 9 and GSTR 9A alongwith GST Audit Certificate in GSTR 9C from June 30, 2019 to October 31, 2019 to Smt. Nirmala Sitharaman, Hon’ble Union Minister for Finance and Corporate Affairs & Chairperson, GST Council ICAI/IDTC/2019-20/REP/6...

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Taxpayer to provide scrip/Unit wise details of Shares/MF sold in ITR

Update on 19/07/2019- Scrip wise details of long term capital gains in ITR is Optional: CBDT 20/06/2019- In case of long term capital gains (LTCG) arising on sale of equity shares or unit of equity oriented fund or unit of business trust on which STT is paid, separate computation of capital gains should be made for […]...

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Fraudulent GST ITC of more than ₹ 16 Crore- DGGI arrests one person

The Directorate General of GST Intelligence Hqrs. arrests one person in connection with the taking by two firms ITC fraudulently to the tune of more than Rs.16 Crore....

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Section 244A(1) Interest on refund of excess self-assessment tax

DCIT Vs Savita Oil Technologies Ltd. (ITAT Mumbai)

DCIT Vs Savita Oil Technologies Ltd. (ITAT Mumbai) A careful look at sub-section (1) of section 244A would reveal that it has three parts. The first part deals with the entitlement of a person to interest whenever he is due to get a refund from the Department. The second part relates to the method of […]...

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Mere Book Entries not establish Genuineness of Expenditure

Shri. P.K. Mohammed Vs The ACIT (ITAT Chennai)

Shri. P.K. Mohammed Vs. ACIT (ITAT Chennai) As regards to the allowances of discount, commission and development expenditure, no evidence were filed before us establishing the genuineness of the expenditure. Mere entries in the books of accounts does not establish the genuineness of the expenditure. The contention that profit arising on a...

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