Consideration paid by assessee for services rendered by non-resident were purely in the nature of procurement services and could not be characterized as ‘managerial’, ‘technical’ or ‘consultancy’ services and thus, could not be classified as fee for technical services and accordingly, not liable for deduction of tax at source under section 195.
Since possession of land was not handed over to the Developer by assessee-society, therefore, there could not be any transfer within the meaning of section 2(47)(v) read with section 53A of Transfer of Property Act, 1882, even based on part performance of the contract. Accordingly. there was no liability of capital gain tax under section 50C.
FORM GST ANX-2 contains details of inward supplies as uploaded by supplier in his Form GST ANX-1 (and GSTR-5 and GSTR-6), and recipient needs to take action by either accepting or rejecting these documents, or marking them as pending.
The data in GST ANX-2 is majorly auto-populated from the data uploaded by the supplier in his/her Form GST ANX-1, GSTR-5 and GSTR-6. The recipient is required to take action of Accept/ Reject/ keep Pending on the documents in his /her GST ANX-2.
Form GST ANX-1 contains details of outward supplies, inward supplies liable to reverse charge and import of goods and services. It is an annexure to the return to be filed by a regular taxpayer.
Sh. Kavi Mahajan Vs M/s Heeranandani Realtors Pvt. Ltd (National Anti-Profiteering Authority) Respondent has benefited from the additional ITC to the extent of 10.66% of the turnover during the period from July, 2017 to August, 2918 and hence the provisions of Section 171 of the CGST Act, 2017 have been contravened by the Respondent as […]
This Article give the snapshot of the newly inserted sections i.e. Section 194M and Section 194N in the Finance Act (No. 2), 2019. Also covers Income Tax Notification No. 98/2019 dated 18th November 2019 issued by CBDT.
Registered as well as cancelled purchasing dealers shall upload year wise, quarter wise, invoice wise data for the verification of the mismatched ITC using ITC verification module available on the Rajtax Web Portal as mentioned in the prescribed format.
Analysis of CBIC Notifications issued in respect of Jammu & Kashmir detailing the Migration Plan from Erstwhile State of J & K to UTs of J & K and Ladakh As per Jammu and Kashmir Reorganisation Act, 2019, the State of J & K has been divided between Union Territories, namely, UT of J & […]
Goods belonging to the petitioner, were detained for an alleged discrepancy noticed in respect of the E-way bill raised in connection with invoice. Discrepancy noticed is with regard to the value of the commodity.It is also the case of the detaining authority that the commodity in question was undervalued by the vendor by offering excessive discounts to the purchaser. Reasons shown, that are impugned in this writ petition, are not sufficient for the purposes of detaining the goods in terms of Section 129 of the CGST/SGST Act.
