"28 November 2019" Archive

No TDS u/s 195 on payment of buying agency commission to non-resident

M/s. Adidas India Marketing Pvt. Ltd. Vs ITO (ITAT Delhi)

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 ...

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No transfer u/s 2(47)(v) in absence of possession of land to JDA

ITO Vs State Bank of India Staff Vaibhav Co-op. HSG. Ltd. (ITAT Mumbai)

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 ...

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Detention of conveyance in absence of discrepancy in E Way Bill or Tax Invoice not sustainable

Insha Trading Company Vs. State Of Gujarat (Gujarat High Court)

Insha Trading Company Vs. State Of Gujarat (Gujarat High Court) The reasons for issuance of the notice for confiscation under section 130 of the CGST Act in Form GST MOV-10 are that upon preliminary verification of the dealer online, 42 e-way bills have been generated in December 2018, wherein, IGST has been shown to Rs. […]...

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Form GST ANX-2: Annexure of Inward Supplies- FAQs/Manual

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....

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Posted Under: Income Tax |

All about Online Upload and Download of Form GST ANX-2 JSON File

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....

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Posted Under: Income Tax |

Form GST ANX-1: Annexure of Supplies- FAQs/Manual

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....

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Posted Under: Income Tax |

New Section 194M & Section 194N effective from 1st September 2019

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....

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Posted Under: Income Tax |

GST ITC Verification Module

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....

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Posted Under: Income Tax |

Analysis of CBIC Notifications issued in respect of Jammu & Kashmir

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 & […]...

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Posted Under: Income Tax |

No Objection Certificate by Principal – AICITSS (AIT/MCS)

Format of No Objection Certificate Letter required at the time of  AICITSS (AIT/MCS) Training. File is attached for reference. TO WHOMSOEVR IT MAY CONCERN NO OBJECTION CERTIFICATE This is to confirm that I, the undersigned do not have any objection for the below mentioned articled assistant to undergo the AICITSS (AIT/MCS) Course in the ...

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Posted Under: Income Tax |