"01 October 2019" Archive

Join Advanced Online GST Certification Course by TaxGuru Edu – Batch 12

TaxGuru Edu, an educational wing of Taxguru bring you the best in class Advanced Online GST Certification Course – Batch 12. Learn GST in a Practical way and become an Expert in this field. Batch covers detailed analysis of Entire GST law with special focus on Effective GST Audits & Reconciliation Statements, filing of Annual [&hell...

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No section 68 addition can be made for non-recording of Statement on Oath by mere one Person

Prerna Developers Vs ITO (ITAT Ahmedabad)

Where out of 14 persons, 13 persons have duly confirmed the booking advances made to assessee and their creditworthiness was also examined by AO but no negative inference was drawn by him, no addition could be made under section 68 just because one person who had only advanced an meager amount, had not recorded the statement under oath as...

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Gist of GST Notifications- Changes effective from 01st Oct 2019

Gist of Notifications issued in order to implement the recommendations of the GST Council in their meeting held on September 20, 2019 There are several changes proposed in GST rates on specified goods and services during the 37th GST Council meeting held on September 20, 2019. The Central Government has now given effect to the recommenda...

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CBDT inks the 300th Advance Pricing Agreement

The Central Board of Direct Taxes (CBDT) has signed the 300th Advance Pricing Agreement (APA) during the month of September, 2019. This is a significant landmark of India’s APA Programme, which is currently in its seventh year. Three APAs were entered into in September, 2019 (2 Unilateral and 1 Bilateral APA), which has taken the [&hell...

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GST Revenue collection for September, 2019

The total gross GST revenue collected in the month of September, 2019 is Rs. 91,916 crore of which CGST is Rs. 16,630 crore, SGST is Rs. 22,598 crore, IGST is  Rs. 45,069  crore (including Rs.  22,097 crore collected on imports) and Cess is Rs. 7,620 crore (including Rs.  728 crore collected on imports). The total number of GSTR...

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Investing in Mutual Funds Just Got Easier

Today, mutual funds have emerged as one of the ideal investment alternatives for creating long-term wealth and achieving financial goals. One of the key reasons for the rise of mutual funds is the ease with which investors today can invest in Mutual Funds. With the advancement of technology, investing in mutual funds has become a [&hellip...

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5 Legal Mistakes Every Startup Business should avoid

Starting a new venture is an exciting event for every budding entrepreneur. But they also encounter a lot of obstacles when it comes to starting a company from scratch. For example, Startup cost is the most common hurdle that every entrepreneurs face and one should know that there are SME loans. A business loan can […]...

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Amendment to the Maharashtra Value Added Tax Rules, 2005

Trade Circular No. 49T of 2019 01/10/2019

(i) A registered dealer whose tax liability during the previous year had not exceeded rupees twenty five thousand, shall file Annual Return within twenty one days from the end of the year to which such return relates....

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Buyer of goods for business purpose is consumer if He uses It Himself for Earning His Livelihood

Sunil Kohli & Anr. Vs M/s. Purearth Infrastructure Ltd. (Supreme Court)

If the commercial use is by the purchaser himself for the purpose of earning his livelihood by means of self-employment, such purchaser of goods is yet a ‘consumer’...

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Mutual fund allowed to invest in unlisted Non-Convertible Debentures

Circular No. SEBI/HO/IMD/DF2/CIR/P/2019/104 01/10/2019

Mutual fund schemes may invest in unlisted Non-Convertible Debentures (NCDs) not exceeding 10% of the debt portfolio of the scheme subject to the condition that such unlisted NCDs have a simple structure (i.e. with fixed and uniform coupon, fixed maturity period, without any options, fully paid up upfront, without any credit enhancements ...

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