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Archive: 20 August 2019

Posts in 20 August 2019

Live Course on Appeal, Pleading & Drafting under GST by CA Sachin Jain

May 15, 2024 6390 Views 0 comment Print

oin us for an immersive live course led by renowned expert CA Sachin Jain, as we delve into the intricacies of appeal, pleading, and drafting under GST.

Live Course on How to Reply to GST Notices & SCN & to Fake ITC Notices? – Last day to Register

May 15, 2024 19404 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!

E-Way Bill Rule 138E implementation deferred to 21.11.2019

August 20, 2019 27849 Views 2 comments Print

Date of Implementation of Rule 138E of the CGST Rules, 2017 regarding blocking and unblocking of eway bills by taxpayers defaulting return filing extended by 3 months to 21.11.2019. Notification No. 36/2019 – Central Tax dated 20.08.2019. Blocking of E-way Bill generation facility for non-filers-Notification No. 36/2019 –Central Tax dated 20th August, 2019- The date […]

Corporate Social Responsibility – Amendment – Section 135

August 20, 2019 28449 Views 1 comment Print

AMENDMENT IN SECTION 135 OF COMPANIES ACT 2013 1. Applicability of Section 135:- As per section 135(1) of Companies Act, 2013, following Companies having, Net worth of Rs. 500 crore or more Turnover of Rs. 1000 crore or more Net profit of Rs. 5 crore or more Shall constitute Corporate Social Responsibility committee of the board […]

GST Treatment on Subscription Income of Residential Welfare Association

August 20, 2019 3468 Views 7 comments Print

In the present article, we would understand the applicability of GST on subscription income/maintenance charges collected by the Residential Welfare Association. However, before moving further into the taxability, first of all, let us understand what this Residential Welfare Association is? Residential Welfare Association (from now on referred to as RWA) is an association of persons […]

7 Useful Income Tax Exemptions for the Salaried

August 20, 2019 12066 Views 1 comment Print

Discover 7 useful income tax exemptions for salaried employees. Learn how to reduce your tax liabilities and save money on your hard-earned income.

Section 50C provisions cannot be applied for section 69B addition

August 20, 2019 7650 Views 0 comment Print

Gayatri Enterprise Vs ITO (Gujarat High Court) Provisions of Section 50C of the Income Tax Act cannot be applied for the purpose of making addition under section 69B of the Act. We fail to understand why section 50C of the Act has been brought into play having regard to the facts of the present case. […]

No adjustment if impact of outstanding receivable considered in Working Capital

August 20, 2019 2943 Views 0 comment Print

M/s. Barco Electronic Systems (P.) Ltd. Vs. DCIT (ITAT Delhi) Facts of the Case ♣ Barco Electronic Systems Pvt. Ltd. ( taxpayer) is engaged in business of manufacturing of projectors and parts, trading in visual display products and provision of software development services. ♣ During the year under consideration, the taxpayer entered into various international […]

Section 138E of RGST Act extended till 21st Nov, 2019

August 20, 2019 2394 Views 0 comment Print

State Govt. of Rajasthan has issued a notification no. F.12(56)FD/Tax/2017-Pt. 111-53 dated 20-08-2019 extending date of applicability of Rule 138E of inserted vide Rule 12 of Rajasthan State Goods and Service Tax (Fourteenth) Amendment Rules, 2018 from 21-08-2019 to 21-11-2019. Originally Rule 138E was supposed to come into effect from 21-06-2019 [notification no. F. 12 […]

Government removes Debenture Redemption Reserve requirement

August 20, 2019 3276 Views 0 comment Print

Ministry of Corporate Affairs has amended Companies (Share Capital & Debentures) Rules by removing Debenture Redemption Reserve requirement for Listed Companies, NCFCs and HFCs.

Taxation changes in Budget 2019

August 20, 2019 3969 Views 0 comment Print

In Budget 2019  there are Numerous  of changes related to  Income tax , related to compliance part , additional burden of Tax by imposing super rich surcharges and ,  step taken by giving  enhancing limit of exemption to boom and revive housing sector , Imposing TDS on Cash withdrawn  to curb  cash transaction, and encouraging […]

SAT reduces fine for unintentional failure to include Audit Report in XBRL

August 20, 2019 2463 Views 0 comment Print

SPL Industries Ltd. Vs BSE Limited (SAT Mumbai) Unintentional Failure on part of the Company to include the Audit Report in the Financial Results in XBRL uploaded on BSE website, for which BSE imposed fine of Rs. 5,54,600. However SAT reduced the penalty to Rs. 2,50,000 on the grounds that there was no deliberate intention […]

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