"19 November 2019" Archive - Page 3

Utilisation of Input Tax Credit under GST

The provisions of Section 49 was amended and Section 49A and Section 49B were inserted vide Central Goods and Services Tax (Amendment) Act, 2018 [hereinafter referred to as the CGST (Amendment) Act] and came into effect from 1st February 2019. The amendment led to an of accumulation of input tax credit for SGST/UTGST in electronic [&helli...

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IRDA Withdraws Indian owned & controlled condition for insurance intermediaries

Ref No. IRDAI/INT/CIR/ORD/202/11/2019 (19/11/2019)

Consequent upon notification of Indian Insurance Companies (Foreign Investment) Amendment Rules, 2019 and IRDAI (Insurance Intermediaries) (Amendment) Regulations, 2019, it is observed that the circular no. IRDA/ INT/ CIR/ ORD/ 208 11/ 2015 dt 20.11.2015 has become redundant....

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Defence against WPs/PILs relating to GST

1. A number of writ Petitions/ PILS are being filed in Hon’ble Supreme Court/ High Courts challenging various aspects of GST law. 2. Dept of Revenue has issued master instructions vide letter F.No. S-29012/12/2017 dated 14th August, 2019 on defense against writ petitions / PILs relating to GST to all States as well as Central […]...

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Simplification of Annual GST Return form GSTR-9 & GSTR-9C

Simplification of Annual GST Returns vide Notification No. 56/2019 – Central Tax dated 14th November, 2019  A. Taxpayers not required to provide split of input tax credit availed on inputs, input services and capital goods and HSN level information of outputs or inputs, etc. for the financial year 2017-18 and 2018-19. B. Following fie...

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Income Tax Dept seizes substantial amount of cash in Tamil Nadu

On 15.11.2019, the Income Tax Department commenced a search action under section 132 in the case of a company in a tier 3 city in Tamil Nadu. The company is in the business of manufacturing certain specialized materials which are supplied to the health sector in India and abroad....

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How to Unblock the GSTIN for generation of e-waybill

The user will be alerted while generating e-waybills in case the entered GSTIN has not filed the Returns for the past 2 successive months as this GSTIN will be blocked for generation of e-way bills ....

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Company under insolvency cannot be Struck off: ROC order set aside

M/s J R Diamonds P Limited (Vinod Tarachand Agrawal) Vs. Registrar of Companies ( NCLT Ahmedabad)

M/s J. R. Diamonds P Limited (Vinod Tarachand Agrawal) Vs. Registrar of Companies (NCLT Ahmedabad) In path-breaking judgement delivered by Hon’ble NCLT Ahmedabad, set aside ROC order to struck down the name of the company from ROC register. M/s J R Diamonds P Limited, company wherein no financial creditors are their was under Insolvency...

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