Union Minister for Finance & Corporate Affairs, Smt. Nirmala Sitharaman held her 6th Pre-Budget Consultation with leading Industrialists here today in connection with the forthcoming General Budget 2020-21.
In this age and time, Management System and auditors face greater challenges in their task. They need to respond effectively to the demands of a rapidly changing and complex business environment, while helping organizations continue comply with growing regulatory mandates and conform to other requirements.
Brahma Center Development Pvt. Ltd. Vs PCIT (ITAT Delhi) The Mumbai Bench of Tribunal while noticing the decision of jurisdictional High Court in the case of CIT vs. Sunbeam Auto Ltd, 332 ITR 167 and the case of Nagesh knitwear Pvt. Ltd., 355 ITR 135 observed that the Explanation-2 to section 263 inserted by Finance […]
Office Order No. 262 of 2019 – Extension of ad-hoc appointment to the grade of Assistant Commissioners of Income Tax (ACIT) – reg F.No. A-32013/1/2018 – Ad.VI Government of India Ministry of Finance Department of Revenue (Central Board of Direct Taxes) ***** North Block, New Delhi. The 20th December 2019. Office Order No. 262 of […]
Global Impex Vs Manager, Celebi Import Shed And Anr. (Delhi High Court) (i) The custodian has a lien over the imported goods, consigned to its custody. This lien may be statutory, as provided under the IAA Act, all the Major Port Trusts Acts, or contractual. It may also be relatable to Sections 170 and 171 […]
These regulations may be called the Securities and Exchange Board of India (Foreign Portfolio Investors) (Amendment) Regulations, 2019. These regulations shall come into force on the date of their publication in the Official Gazette.
38th GST Council Meeting dated 18-12- 2019 1) GSTR-1 Late Fee Waiver on GSTR-1 1. Notification 4/2018-CT dated 23-01-2018, reduced late fee for delayed filing of GSTR-1 from Rs. 2 00/- per day to Rs. 50/- per day. For NIL returns it was reduced to Rs. 20/- per day 2. Notification 75/2018-CT dated 31-12-2018 waived […]
Assistant Commissioner of CGST & Central Excise Vs Daejung Moparts Pvt Ltd. (Madras High Court) View of Third Member The question raised is as to whether interest on delayed payment of tax as contemplated under Section 50 of the Central Goods and Services Tax Act, 2017, is automatic or the same is to be determined, […]
Rationalize rates on Woven and non-woven bags and sacks of polyethylene or polypropylene strips or the like, whether or not laminated, of a kind used for packing of goods which fallunder HSN 3923 or 6305 – will have uniform rate of 18% from 12% on all bags falling under HSN 3923 or 6305 including Flexible intermediate bulk containers (FIBC) to be effective w.e.f 01st Jan 2020.
The undisputed facts reveal that the Petitioner has filed GSTR-1 Return under Section 37 of the CGST Act, 2017, however, the Petitioner has not filed GSTR-3B Returns, which are to be paid on GST portal based on self-assessed transaction value shown in GSTR-1 Returns by the Petitioner. There are twin effect of such non-filing of GSTR-3B Return, first is that no revenue is actually transferred to the Government and on the other hand, the persons / tenants, to whom the Petitioner has issued invoices, would avail GST credit.
