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Archive: September, 2019

Posts in September, 2019

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

May 15, 2024 7173 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.

HC rejects Bail application in GST Evasion Case (ITC Fraud)

September 30, 2019 1653 Views 0 comment Print

Himani Munjal Vs Union of India (Rajasthan High Court) Petitioner has filed this petition under Section 439 Code of Criminal Procedure, 1973 seeking regular bail in Criminal Complaint No. 35/2018 pending before the Court of Chief Metropolitan Magistrate, (Economic Offences) Jaipur Mahanagar, for offences under Sections 132(1)(b),(c)(d),(f),(i) and (1) of Central Goods and Services Tax […]

Late fee for delay in filing Bill of Entry not imposable if importer takes all efforts to clear goods within reasonable time

September 30, 2019 11214 Views 0 comment Print

CESTAT Chennai has held that late fee imposed on the appellant for delay in filing of Bill of Entry was not proper, since the delay had occurred only because the original importer had failed to clear the goods.

Interest on Enhanced Compensation u/s 28 of Land Acquisition Act, 1894 is Exempt u/s 10(37)

September 30, 2019 10113 Views 0 comment Print

whether interest received u/s 28 of the Land Acquisition Act, 1894 on compulsory acquisition of agricultural land in the nature of compensation is exempt u/s 10(37) or chargeable to tax under head ‘Income from Other Sources’?

Structural Changes in Examination System of ICAI

September 30, 2019 3156 Views 2 comments Print

Friends, why I have decided to write on this topic because I believe that this is the need of the hour. Yes, structural changes are required in the Examination system of ICAI to save the reputation of this profession as I believe that if students in a country are not happy, then we cannot have […]

Assessment in name of non-existent company was invalid & non-curable defect

September 30, 2019 3792 Views 0 comment Print

Since AO had completed the assessment in the name of a company which had merged and was not in existence on the date the assessment order was passed, therefore, the assessment was invalid and the same was not a curable defect under section 292B.

ICSI requests Extension of last date for filing of DIR-3 KYC

September 30, 2019 762 Views 0 comment Print

Every individual who holds a Director Identification Number (DIN) as on 31st March of a financial year is required to submit e-form DIR-3-KYC to the Central Government on or before 30th September of immediate next financial year.

Interest on FD taxable on accrual basis if Assessee follows mercantile system of Accounting

September 30, 2019 14652 Views 0 comment Print

Addition made by AO on the ground that although assessee had claimed credit for TDS on the interest income from the bank corresponding interest income was not offered to tax by assessee during the year was justified as assessee was regularly following mercantile system of accounting interest income in question was liable to be taxed in assessment year in question itself.

GST updates for the month of August 2019

September 30, 2019 1737 Views 0 comment Print

Summary of GST updates for the month of August 2019 – Circulars, Notifications and Orders issued in August 2019 Objective: The objective of this document is to summarize all the updates of GST (Notifications, Circulars, other amendments and updates) in one place. 6 Central tax notifications and one order were issued during the month Aug’19. […]

Buy one Get one Free Under GST

September 30, 2019 13902 Views 2 comments Print

1. Ever wondered Being a seller what is the application of GST on such offers? 2. Whether Only on one Item GST is to charged or Both 50%-50%? 3. Whether both are provided for a single price? 4. Price of one is being charged and other is provided free? 5. What Rate it is to […]

ICAI President’s Message – October 2019

September 30, 2019 1368 Views 1 comment Print

The Institute of Chartered Accountants of India My dear Professional Colleagues, As India observes Gandhi Jayanti on 2nd October, I would like to quote Mahatma Gandhi, “Strength does not come from winning.Your struggles develop your strengths. When you go through hardships and decide not to surrender, that is strength.” Revered as father of our nation, Gandhi ji, […]

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