"07 December 2019" Archive

Minor penalty for Minor mistake in e-way bill: GST Appellate Authority

M/s K.B Enterprises Vs Assistant Commissioner (GST Appellate Authority,Himachal Pradesh)

K.B Enterprises Vs Assistant Commissioner (GST Appellate Authority, Himachal Pradesh) In the view of above discussions I am of considerate opinion that the penalty imposed in the instant case under section 129 was unwarranted. GST Council vide circular No 64/38/2018 dated 14th September, 2018 and the HP circular no. 12-25/2018-19-EXN-GST-...

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Summary of GST circulars, Notifications issued in Nov’19

1. The forms for Annual return (GSTR-9) and Audit report (GSTR-9C) have been simplified by changing certain mandatory fields as optional i. Changes in GSTR-9 General: The Part or Table headings, Field names and Instructions have been amended to make the forms suitable for FY 17-18 and also for FY 18-19 Simplifications for FY 17-18 [&helli...

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Solution for “Auditor Signature Invalid” GSTR 9C Error

Solution for ‘Auditor Signature Invalid’ while uploading GSTR 9C (GST Audit Report):  Try in Chrome ♠ Delete the browsing history ♠ Close excel utility of GSTR 9C ♠ Re-connect your Digital Signature ♠ Copy paste following files in the folder where excel utility is saved Readme.txt ReleaseNotes.txt Wsweb.html ♠ Gener...

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How to gain competitive edge in international markets & trade fairs?

Trade fairs are a great way to unlock huge potential to generate new business and expand business to new/emerging markets. Participating at a trade fair where you would be meeting exhibitors from many countries, is in itself a huge opportunity. Let’s prepare thoroughly and make the most of this opportunity! We can help you prepare [&hel...

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Interception of Conveyance and Penalty under GST

Though E-way bill system is a good step towards checking tax evasion, it has also resulted in gross harassment of honest assessees. The goods under transportation are stopped, detained even for minor discrepancy in the documents. Further, to release the goods, maximum tax/penalty is imposed indiscriminately. It has resulted in great hards...

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Online Examination by Independent Director – A prospective

Requirement by Independent Directors of inclusion of their names in the data bank of Indian Institute of Corporate Affairs, Manesar and clearance of Proficiency Test The Companies (Appointment and Qualification of Directors) Fifth Amendment Rules, 2019. The Ministry of Corporate Affairs/the Central Government, vide its notification dated ...

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Rotation of Statutory Auditors

Meaning of appointment: Appointment includes re-appointment. Term: Term means a period of five consecutive years Transition Period: Three years from the commencement of Companies Act, 2013 and rules there under applicable for companies which would otherwise had been complying with rotation rules in erstwhile act. Cooling Period: Five year...

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Restriction and Incentives under Income Tax Act to promote cashless economy

Introduction As we all aware now a day’s Modi government has significantly encourage digital and cashless economy through: 1.1 Providing a online platform for various government services; 1.2 Demonetization, which extremely turns our economy towards cashless; 1.3 By giving incentives and disincentives under various laws for digital tran...

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Reversal of ITC on goods (raw materials) if Finished Goods gets destroyed

The CGST Act, 2017 read with respective State GST Act(s), has been enacted with one of its main objectives being to ensure a continuous flow of input tax credit at each stage of value addition. In this regards, certain relevant provisions of the said Act have been produced below for reference....

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Confusion of Rs. 750/- or Rs. 1500/- Under GTA in GST??

Article clears Confusion related to Exemption from GST in following two circumstances- -Goods, where consideration charged for the transportation of goods ON A CONSIGNMENT TRANSPORTED IN A SINGLE CARRIAGE does not exceed Rs.1500/- -Goods, where consideration charged for transportation of ALL SUCH GOODS FOR A SINGLE CONSIGNEE does not exce...

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