"26 September 2019" Archive

CBDT issues FAQs on filing of ITR-5, ITR-6 and ITR-7

Circular No. 26/2019-Income Tax 26/09/2019

Circular No. 26 of 2019- CBDT clarifies on certain issues relating to filing of Forms ITR-5, ITR-6 and ITR-7 which includes furnishing of details of shareholding in Schedule SH-1 / SH-2, details of assets and liabilities in Schedule AL-1 / AL-2. It also provide solutions to queries of Partnership firms and Trusts. Circular No. 26 [&hellip...

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Extend date of filing of Tax Audit Report and income Tax Returns

RTCA has made a representation to CBDT Chairman and requested to extend the date of filing of Tax Audit Report and income Tax Returns in audit cases for Asstt Year 2019-20 to to 15th November 2019....

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Posted Under: Income Tax |

Penalties and Prosecutions under the Income tax Act

IS THE LEVY OF PENALTY AUTOMATIC? No penalty under the Income-tax Act is imposed unless the person concerned has been given reasonable opportunity of being heard. WHAT IS THE MINIMUM AND MAXIMUM PENALTY LEVIABLE? The quantum of penalty leviable depends upon the nature of default. The relevant sections of income-tax Act prescribe the minim...

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Posted Under: Income Tax |

Conduct of assessment proceedings through ‘E-Proceeding’ facility

Circular No. 27/2019-Income Tax 26/09/2019

In all cases (other than the cases covered under the `e-Assessment scheme, 2019' notified by the Board), where assessment is to be framed under section 143(3) of the Act during the financial year 2019-20, it is hereby directed that such assessment proceedings shall be conducted electronically subject to exceptions in para below....

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HC allows petitioner to file TRAN-1 Forms again

Kusum Enterprises Pvt. Ltd. & Sanko Gosei Technology India Pvt. Ltd. Vs Union of India & Ors. (Delhi High Court)

Kusum Enterprises Pvt. Ltd. & Sanko Gosei Technology India Pvt. Ltd. Vs Union of India & Ors. (Delhi High Court) GST Department to either open the portal so as to enable the Petitioners to again file the TRAN-1 Forms electronically, failing which the Department will accept the manually filed TRAN-1 Forms on or before 31st [&hellip...

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All about Availability of Online GST Refunds functionality in CBIC-GST Application

Advisory No.29 — Online Refund Functionality 26/09/2019

Till now, the Refund application — RFD-01A filed online by the tax payer at the GSTN common portal is pushed to the CBIC back end system, in which the jurisdictional tax officer can view and download these applications. Thereafter, the proper officer manually processes the applications and refund sanction order and Payment advice are se...

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ITC not available on services used exclusively for providing exempt services

In re M/s. Royal Care Speciality Hospital Ltd. (GST AAR Tamilnadu)

The applicant is not eligible for the credit of tax paid on the Input services used exclusively for providing exempt services of health services to in patients such as laundry services used for in patients. For Input services such as housekeeping, leasing of equipment used for both exempt supply of health services to in patients and taxab...

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HC permits revision of TRAN-1, waives penalty & interest for late filing of GSTR-3B

M/s Blue Bird Pure Pvt. Ltd. Vs Union of India & Ors. (Delhi High Court)

M/s Blue Bird Pure Pvt. Ltd. Vs Union of India & Ors. (Delhi High Court) In the present case, the Court is satisfied that, although the failure was on the part of the Petitioner to fill up the data concerning its stock in Column 7(d) of Form TRAN-1instead of Column 7(a), the error was inadvertent. […]...

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Supply of e-campus solutions (leasing of infrastructure) falls under SAC 997329

In re VAPS Knowledge Services Pvt. Ltd. (GST AAR Karnataka)

In re VAPS Knowledge Services Pvt. Ltd. (GST AAR Karnataka) What is the HSN Code and rate of tax payable under GST Act for the e-campus solutions supplied by the applicant? The supplies made by the applicant are covered under SAC 997329 and is liable to tax at 9% CGST under entry 17(iii) of Notification […]...

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LPG Conversion Kits classifiable under HSN 8409 99 90

In re Sagas Autotec Pvt. Ltd. (GST AAR Karnataka)

In re Sagas Autotec Pvt. Ltd. (GST AAR Karnataka) Classification of LPG Conversion Kit for Automobiles- The LPG Conversion Kits are classifiable under HSN 8409 99 90 and the same are covered under serial no.116 of Schedule IV to. the Notification No. 01/2017 ­Central Tax (Rate) dated 28.06.2017 and hence liable to tax at 14% […]...

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