"04 September 2019" Archive

Latest version of GSTR-9C Offline Utility to file your Form GSTR-9C

Latest version (Ver.1.3) of GSTR-9C Offline Utility Now Available on GST Portal Use Latest version of GSTR-9C Offline Utility to file your Form GSTR-9C. Latest version (Ver 1.8) of GSTR 9C offline utility can be Downloaded from : https://www.gst.gov.in/download/gstr9c GSTR-9C Offline Utility Version V1.3 The tool works best with: 1. Opera...

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Entry tax on excavators by considering them as motor vehicles is unconstitutional: HC

M H Khanusiya Vs State of Gujarat (Gujarat High Court)

M H Khanusiya Vs State of Gujarat (Gujarat High Court) Levy of Entry Tax at the rate of 12.5% treating Excavators as motor vehicles and/or at par with the motor vehicles is hereby held to be illegal, discriminatory, violative of Article 304(a) of the Constitution of India and against the object and purpose of the […]...

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13 Issues and Suggestions to Implement and Comply with GST Law

Tax Bar Association, Guwahat has made a representation on Compliance with GST Law and issues in maintaining details of HSN/SAC Summary of Supplies, Procedural difficulty in complying with the provisions of Rule 42 of the CGST Rules 2017, Procedural difficulty in complying with the provisions of Rule 43 of the CGST Rules 2017, Procedural d...

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15 Issues and Suggestions for Compliance of Income Tax Laws

Tax Bar Association, Guwahat has made a representation on Compliance of Income Tax Laws Regarding CPC,  Regarding TDS/TCS, Regarding CIT (Appeals), Settlement of Past Disputes (TDS), Regarding ITR and Other Forms, Exempted income specially in context of N E Region & Agricultural Income, E-assessments, Compliance, Special tax incentiv...

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External Benchmark Based Lending

RBI/2019-20/53 DBR.DIR.BC.No.14/13.03.00/2019-20 (04/09/2019)

It has now been decided to link all new floating rate personal or retail loans (housing, auto, etc.) and floating rate loans to Micro and Small Enterprises extended by banks with effect from October 01, 2019 to external benchmarks....

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Non-recording of satisfaction by AO of searched person while issuing notice to other party makes notice illegal

ACIT Vs Gulshan Kumar Sethi (ITAT Delhi)

AO of the searched person had not rebutted the presumption that the seized documents  belonged to M/s. C Ltd but belonged to other person, i.e, assessee, therefore, issue of notice under section 153C on assessee was illegal. ...

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AO not justified in assuming jurisdiction u/s 153C based on documents which does not indicate existence of any unaccounted income

Smt. Sunita Bhagchandka Vs. ACIT (ITAT Delhi)

Impugned bank certificate is not an incriminating document based on which the concluded assessment in the case of the assessee can be disturbed. In view of this according to us , we hold that no addition can be made in the hands of the assessee in absence of any incriminating evidence leading to any unaccounted income unearthed during the...

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AO has a legal obligation to implement order of ITAT strictly: HC

Lokesh Chandrappa Vs ITO (Karnataka High Court)

Lokesh Chandrappa Vs ITO (Karnataka High Court) It is trite law that the Assessing Officer has a legal obligation to implement the order of the ITAT strictly and such failure would result in the failure of justice. A writ of mandamus would be issued in such circumstances to the respondent – Assessing Officer to carry […]...

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DGFT notifies SION for “Cocoa Butter” in Food Product Group

Public Notice No. 30/2015-2020-DGFT (04/09/2019)

DGFT hereby notifies a new SION with Serial Number E-135 in Food Product Group for export product Cocoa Butter vide Public Notice No. 30/2015-2020 dated 4th September, 2019....

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Multipurpose Empanelment Form (MEF) for year 2019-20

We are pleased to inform that Multipurpose Empanelment Form (MEF) Application for the year 2019-20 is available for filling with following key highlights: 1. Applicants registered for MEF 2018-19 have to simply login with MEF 2018-19 credentials. 2. Most of fields are pre-filled and auto-populated from Institute’s records or last year...

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