"August, 2019" Archive - Page 8

AO cannot do reassessment after assessment by Settlement Commission

Komalkant Faikirchand Sharma Vs DCIT (Gujarat High Court)

Since there was an order of the Settlement Commission under section 245D(4) in relation to the assessment year in respect of which assessment was sought to be reopened, AO had no jurisdiction to reopen the assessment as once an order had been passed under section 245D by Settlement Commission, assessment for year stood concluded. ...

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HC order without framing substantial question of law and without passing reasoned order is invalid

CIT Vs M/s Rashtradoot (HUF) (Supreme Court of India)

High Court in the absence of any discussion or/and the reasoning/ground as to why the order of ITAT did not suffer from any illegality and why the grounds of Revenue were not acceptable and why the appeal did not involve any substantial question(s) of law or though framed could not be answered in Revenue’s favour, the impugned order dis...

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Implement guideline on Handling of Clients’ Securities: SEBI

Circular No. SEBI/HO/MIRSD/DOP/CIR/P/2019/95 (29/08/2019)

The Stock Exchanges, Clearing Corporations and Depositories are advised to bring the provisions of circular related to Handling of Clients’ Securities by Trading Members / Clearing Members to the notice of all TM / CM, Depository Participants and also disseminate the same on their respective websites....

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Cash Withdrawal at Points-of-Sale (PoS) Devices

RBI/2019-20/50 DPSS.CO.PD.No.501/02.14.003/2019-20 (29/08/2019)

The instructions outlined therein, limit – cash withdrawal to ₹ 1000/- per day in Tier I and II centres and ₹ 2,000/- per day in Tier III to VI centres customer charges, if any, on such cash withdrawals to not more than 1% of the transaction amount....

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No export if both Place of service supplier & supply of service is in India

In re M/s Syngenta Bioscience Private Limited (GST AAR Goa)

In re M/s Syngenta Bioscience Private Limited (GST AAR Goa) 1. Whether the activity of on the technical testing services carried out by the applicant be treated as ‘zero-rated supply’? In The instant case, the goods on which technical testing is carried out are made available to the applicant in India and are not exported […]...

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Notification No. 40/2019-Customs (N.T./CAA/Extension/DRI) dated 29.08.2019

Notification No. 40/2019-Customs (N.T./CAA/EXTENSION/DRI) [S.O. 3161(E).] (29/08/2019)

Notification No. 40/2019-Customs (N.T./CAA/EXTENSION/DRI) dated 29th August, 2019 appointing Common Adjudicating Authority. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) (Directorate of Revenue Intelligence) Notification No. 40/2019-Customs (N.T./CAA/EXTENSION/DRI) New Delhi, the 29th August, 20...

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Notification No. 39/2019-Customs (N.T./CAA/DRI), Dated: 29.08.2019

Notification No. 39/2019-Customs (N.T./CAA/DRI) [S.O. 3160(E)] (29/08/2019)

Vide Notification No. 39/2019-Customs (N.T./CAA/DRI), Dated: 29.08.2019 Director General, Revenue Intelligence  appoints Common Adjudicating Authority appointed under Customs Act, 1962 Government of India Ministry of Finance (Department of Revenue) Central Board of Indirect Taxes and Customs Directorate of Revenue Intelligence Notificati...

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HC issues notice on issue of correction of GSTR 3B and GSTR 1

M/s. NeelkamaI Enterprises Pvt. Ltd. Vs. Union of India  (Punjab & Haryana High Court)

Petitioner-Assessee has to file his annual return for the Assessment Year 2017-18 by 31.8.2019 under the CGST and HGST. However, it is handicapped on account of inadvertent mistakes/errors having occurred while filing statutory forms GSTR-1 and GSTR-3B, which can be corrected in view of legal provisions, however, same are not being accept...

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Time limit to claim ITC of FY 2018-19

One month time left out to reconcile books of account of F.Y. 2018-19 to ensure that maximum Input Tax Credit (ITC) is claimed. As per the provision u/s 16(4) of CGST Act, 2017, a taxpayer can take input tax credit in respect of any invoice or debit note for supply of goods or services or […]...

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Posted Under: Income Tax |

GST Audit Questionnaire – Part 1

Again, the due date for filing of GSTR 9 & 9C extended to 30th Nov. 2019 for FY 2017-18.  Meanwhile, for review of GST compliances and all, we draft a GST Audit Questionnaire which will publish in 3 Parts. Now, we are publishing the Part-1 of GST Audit Questionnaire. Hope, this may helpful for conducting […]...

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Posted Under: Income Tax |

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