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Archive: 27 August 2019

Posts in 27 August 2019

Circular on Sabka Vishwas (Legacy Dispute Resolution) Scheme Rules, 2019

August 27, 2019 21837 Views 1 comment Print

Circular No. 1071/4/2019-Central Excise.8 F. No. 267/78/2019/CX-8-Pt.III Government of India Ministry of Finance Department of Revenue Central Board of Indirect Taxes and Customs Dated, the 27th August, 2019 To The Principal Chief Commissioners/ Chief Commissioners (All) The Principal Director Generals/ Director Generals (All) Dear Madam/Sir, I am directed to state that the Government has announced the […]

Rectification facility extended to match invoices with shipping bills

August 27, 2019 9288 Views 1 comment Print

Despite wide publicity and outreach programmes to make exporters aware about the need to have identical details in invoices given in shipping Bills and GST returns, it has been observed that a few exporters continue to commit such errors. Therefore, in view of the recent announcement by IIon’ble Finance Minister, giving high priority to the […]

Pending IGST refunds due to mismatches between GSTR-1 & 3B- Reg.

August 27, 2019 1839 Views 1 comment Print

The comparison between the cumulative IGST payments in GSTR-1 and GSTR 3B would now be for the period April 2018 to March 2019 and the corresponding CA certificate evidencing that there is no discrepancy between the IGST amount refunded on exports under this circular and the actual IGST amount paid on exports of goods for […]

Conversion of Partnership Firm Into Company

August 27, 2019 27291 Views 3 comments Print

Brief Procedure And Checklist of Works To Be Performed For Conversion of Partnership Firm Into Company This Part is governed by Chapter XXI, Part I of Companies Authorized to register under this Act of Companies Act, 2013 from Section 366 to 374. Corporatization is the need of the hour. Government is taking so many effective […]

Procedure to Restoration of Name of Struck off Company by NCLT

August 27, 2019 13872 Views 0 comment Print

Procedure To Restoration of Name of Struck off Company By National Company Law Tribunal As per Section 248(1) of Companies Act, 2013, the Registrar is vested with the power to strike off the name of the Company, consequently, it had struck off various companies in India and also in process to strike off other companies, […]

Goods and Services Tax Appellate Tribunal (GSTAT)

August 27, 2019 7509 Views 0 comment Print

GST was introduced in India with the main objective of One Tax One Nation, lower legal compliances and reduction in litigations, no check posts and transparency in tax structure etc. However, we all have witnessed how in haste the historic indirect tax regime has been implemented in India, thus teething problems are inevitable. Those teething […]

Section 148 Notice issued in the name of dead person was invaild

August 27, 2019 7506 Views 0 comment Print

Notice under section 148 issued to a dead person could not be continued against the legal representatives and moreover, section 292B also could not be resorted to.

Process of Strike off of Company– By Filing STK-2

August 27, 2019 66018 Views 3 comments Print

In this editorial Author discuss the few questions relating to Strike off of Companies. I. Whether without completion of Annual Filing a Company can apply for Strike off in e-form STK-2? II. Whether a company can apply for suo-moto Strike off after action initiated by ROC u/s 248(1)? III. Whether a Company can suo-moto apply […]

No addition u/s 69 of cash deposit made from own business activities

August 27, 2019 8766 Views 0 comment Print

Since the cash deposit made by assessee was from the business activities of glass bangle trading business, therefore, no addition under section 69 over and above the returned income would be warranted. 

Notice u/s 148 cannot be issued for mere insufficient compliance to Letters

August 27, 2019 6993 Views 0 comment Print

otice under section 148 issued on the basis of insufficient compliance to Letters dated 20.05.2011 and dated 02.02.2016 were wholly unauthorized in law as the reasons recorded must indicate that AO had applied his mind to the fact that income was chargeable to tax under the Act and it had exceeded maximum amount not chargeable to income Tax. Hence, reassessment was not valid as there were no reasons recorded by AO in the eye of law for assuming jurisdiction in this case.

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