AR, Goa held that compensation paid by Applicant on lessor’s deposit would clearly qualify as ‘supply of service’ under clause 5 of Schedule II of CGST Act, 2017 and therefore liable to GST.
Implications of Notification 01/2020-Central Tax dated 01-01-2020 on the various GST related provisions of Finance No. 2 Act 2019 Finance No. 2 Act 2019 was enacted on 01-08-2019. GST related amendments are contained in section 92 to section 116 of the Finance No. 2 Act 2019. As per section 1(2)(b) of the Finance No. 2 […]
Anti-profiteering measures have been incorporated under GST law to provide benefit of reduction in GST rates to the consumers in terms of reduced prices and not allow more profit margins to the businessmen. The suppliers of goods and services must pass on any reduction in the rate of tax or the benefit of input tax […]
The Income Tax Department mounted a search on a group operating leading educational institutions having a large number of schools and colleges in Chennai and Madurai region. The search was conducted at the office of the Trust, residences of the trustees and key employees of the group.
Welcome Move by the FM: Now the GST Taxpayers can file their GSTR-3B Returns in a Staggered Manner What is GSTR 3B? GSTR-3B is a monthly self-declaration that has to be filed by a registered dealer. It is a simplified summary return of inward and outward supplies and the purpose of the return is for taxpayers to […]
Implications of Notification 02/2019-Central Tax dated 29-01-2019 on the various GST related provisions of The Central Goods and Services Tax (Amendment) Act, 2018. The Central Goods and Services Tax (Amendment) Act, 2018 was introduced in Lok Sabha by the Minister of Finance, Mr. Piyush Goyal on August 7, 2018. It amends The Central Goods and […]
The GST Council has approved the implementation of ‘e-Invoicing’ or ‘electronic invoicing’ in a phased manner for reporting of Business to Business (B2B) invoices to GST System, starting from 1st January 2020 on voluntary basis. Being the first Invoice Registration Portal (IRP), National Informatics Centre, has made the e-Invoice registration services available through API mode, […]
Learn about the penalty provisions under section 270A(1) of the Income Tax Act for under-reporting and misreporting of income.
To discuss the tax treatment of the pension received, comprehensively, the employees have been divided in two types, government and non-government. Even the pension received can be of two types, commuted and uncommuted.
CBDT has issued instruction dated 12th February 2018 to conduct assessment proceedings in scrutiny cases electronically, saying that except for search-related assessments, proceedings in other pending scrutiny assessment cases shall be conducted only through the E-proceeding functionality in ITBA/e-filing.
