"20 September 2019" Archive

Taxation Laws (Amendment) Ordinance, 2019

No 15 OF 2019 20/09/2019

Taxation Laws (Amendment) Ordinance, 2019 amends Section 92BA, section 115BA Section 115JB, Section 115QA and Finance (No.2) Act, 2019. It also inserts section 115BAA - Tax on income of certain domestic companies and 115BAB- Tax on income of certain new domestic manufacturing companies....

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Open Letter to Union Finance Minister for TAR due date extension

It is requested by that The chartered accountants are not in a position to complete audits under Income Tax Act and meet the specified timelines for furnishing of Tax Audit Report which is falling at the end of September 2019 and further in this hour of severity it would be inhumane and unjust to force assessee until their livelihood retu...

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Posted Under: Income Tax |

Filing of Annual Return in GST optional for dealers below 2 crore turnover

As per twitter handle of Deputy CM of Bihar , Shri Sushil Kumar Modi – Filing of Annual Return in GST waived for dealers below 2 crore turn over. Above 2 crore Annual GST returns will be simplified. Further Update from Press Releases by Ministry of Finance on decisions taken in 37th GST Council Meeting […]...

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Posted Under: Income Tax | ,

Changes in GST Law & Return Filing including Annual Returns

Filing of FORM GSTR-9 for those taxpayers who (are required to file the said return but) have aggregate turnover up to Rs. 2 crores made optional for the said tax periods. A Committee of Officers to be constituted to examine the simplification of Forms for Annual Return and reconciliation statement....

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Posted Under: Income Tax |

Changes in GST Rate on Services | 37th GST Council Meeting

GST Rate on Services as Recommended by The GST Council in Its 37th Meeting The 37th GST Council met in Goa today under the Chairmanship of Union Finance & Corporate Affairs Minister Smt Nirmala Sitharaman. The meeting was also attended by Union Minister of State for Finance & Corporate Affairs Shri Anurag Thakur besides Chief [&he...

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Posted Under: Income Tax |

Changes in GST Rate on Goods | 37th GST Council Meeting

GST Rate on Goods as Recommended by The GST Council in Its 37th Meeting- GST rates reduction a. 18% to 12% on parts of Slide Fasteners b. 18% to 5% on Marine Fuel 0.5% (FO) c. 12% to 5% on Wet Grinders(consisting stone as a grinder)...

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Posted Under: Income Tax |

SOP for Acceptance of Transport Related Information in Electronic Form

Standard Operating Procedure for Acceptance of Transport Related Information in Electronic Form The Ministry of Road Transport & Highways has issued detailed SOP (Standard Operating Procedure) for acceptance of Driving Licence, Registration Certificate and other transport related information presented in electronic form. The Central M...

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Posted Under: Income Tax |

Registration of Property under projects which requires registration with MahaRERA

Government Notification 20/09/2019

No Registration of Property under projects which requires registration with MahaRERA till registration of project As per the Govt of Maharashtra notification dated 20th Sept, 2019, agreement for sale of any apartments will be done only if the project is registered or exempted from registration. In other words, the Agreement in respect of ...

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Section 11 Exemption on Principle of mutuality cannot be denied for non-entitlement of some class of members

DDIT Vs National Association of Software and Services Company (ITAT Delhi)

The income from non-members was offered to tax by assessee, whereas membership fee from its own members was claimed as exempt on the principle of mutuality. Assessee being a trade association of software industries, it’s main object is to promote and protect the interest of its members. Membership received from its own members came with...

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Group Insolvency of real-estate companies for a consolidated Resolution Plan allowed by NCLAT

Edelweiss Asset Reconstruction Company Limited Vs Sachet Infrastructure Pvt. Ltd. (NCLAT)

Edelweiss Asset Reconstruction Company Limited Vs Sachet Infrastructure Pvt. Ltd. (National Anti-Profiteering Authority) In these appeals as common order dated 7th March, 2019 passed by the Adjudicating Authority (National Company Law Tribunal), Special Bench, New Delhi, is under challenge and common question of law is involved, they were...

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Posted Under: Income Tax | |

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