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Archive: 18 November 2019

Posts in 18 November 2019

Over Simplified GST Annual Return & GST Audit

November 18, 2019 6549 Views 1 comment Print

Apart from the monthly filing of returns by the taxpayers in GST, all taxpayers have to file GST Annual Return and taxpayer with turn over above Rs 2 Crores have to file GST Audit Report yearly.  Annual Return under GST has to be filed through GSTR – 9 by all the taxpayers who have registered […]

Important Changes in Form GSTR-9 and GSTR-9C

November 18, 2019 16446 Views 0 comment Print

Government has come up with long awaiting simplification in Forms of GSTR-9 and GSTR-9C for Financial Year 2017-18 and F.Y 2018-19. The due dates for filing GSTR and GSTR-9C for F.Y. 2017-18 has been further extended till 31st December, 2019 and for F.Y 2018-19 has been extended till 31st March, 2020.

No Service Tax on Value of Spare parts on which Sales Tax already been paid

November 18, 2019 2259 Views 0 comment Print

M/s. Novotron Broadband (P) Ltd. Vs Commissioner of GST & ST (CESTAT Chennai) The issue is with regard to demand of differential service tax on the value obtained is including value of the materials used in rendering Repairs and Maintenance Service. In M/s. Safety Retreading Co. (P) Ltd., (supra) the said issue has been decided, […]

Applicability of GST on Union Territory of Ladakh and Union Territory of Jammu & Kashmir

November 18, 2019 21840 Views 0 comment Print

The Government of India vide Jammu and Kashmir Reorganisation Act 2019 (said Act) has reorganised the state of Jammu and Kashmir into the Union Territories of Jammu & Kashmir and Ladakh. As per Section 4 of the said Act, the Union territory of Jammu & Kashmir shall be Union territory with its own Legislature. Now, […]

Bombay HC refers matter of 10% Mandatory deposit under MVAT to Larger Bench

November 18, 2019 13104 Views 0 comment Print

The petitioners are aggrieved by the refusal of registration of their appeals filed under the Maharashtra Value Added Tax Act since they have not deposited the ten per cent of the disputed amount now mandated under the amended provision of Section 26 of the Act. They have challenged the validity of the amended provisions and the legislative competence of the State.

Companies (Meetings of Board and its Powers) Second Amendment Rules, 2019

November 18, 2019 6417 Views 0 comment Print

1. (1) These rules may be called the Companies (Meetings of Board and its Powers) Second Amendment Rules, 2019. (2) They shall come into force on the date of their publication in the Official Gazette.

Imprisonment of less than one year only for Special assigned reasons | Section 135 | Customs Act 1962

November 18, 2019 1431 Views 0 comment Print

Assistant Commissioner of Custom Vs Navaskhan (Madras High Court) The present criminal revision petition is filed against the order of the learned Judicial Magistrate No.I, Trichy in C.C.No. 167 of 2018 dated 18.07.2018 sentencing the respondent to convict him imprisonment till the rising of Court and imposed a fine of Rs.15000, in default of payment, […]

MCA Notification of Categories of Financial Service Providers

November 18, 2019 1230 Views 0 comment Print

The insolvency resolution and liquidation proceedings of the following categories of financial service providers shall be undertaken in accordance with the provisions of the Insolvency and Bankruptcy Code, 2016 read with the Insolvency and Bankruptcy (Insolvency and Liquidation Proceedings of Financial Service Providers and Application to Adjudicating Authority) Rules, 2019 (in this notification referred to as the ‘Rules’) and the applicable Regulations:

Situation Making Director Disqualified & Removal of Disqualification

November 18, 2019 3807 Views 0 comment Print

Director of company is person who is under onerous pressure to perform on behalf of company’s shareholders for the proper functioning and taking company toward growth. This responsibility comes with huge revenues also, but sometimes some take undue advantage of their power and use the position and other resources of the company for their own […]

Summary of the New Sub Rule 4 of 36 of GST Rules 2017

November 18, 2019 19644 Views 0 comment Print

The restriction of 20% applies with respect to eligible input tax credit available to the recipient in respect of invoices or debit notes the details of which have been uploaded by the suppliers under subsection (1) of section 37 as on the due date of filing of the returns in FORM GSTR 1 of the suppliers for the said tax period.

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