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Archive: 27 January 2020

Posts in 27 January 2020

HC: No bail to CA for offence pertaining to non-disclosure under IndAS

January 27, 2020 3084 Views 0 comment Print

Since offences pertaining to the non-disclosure of the documents which were required under Indian Accounting Standards (IndAS) alleged against assessee- chartered accountant were serious in nature which involved fraud to the tune of several crores and the offence being an economic one which affected the economy of the nation, assessee was not entitled for bail under Section 439 Cr.P.C and Section 212(6) of the Companies Act, 2013. 

Extension of ad-hoc appointments of 176 ITOs to ACIT grade

January 27, 2020 1098 Views 0 comment Print

Office Order No. 15 of 2020 – Extension of ad-hoc appointments of 176 Income Tax Officers to the grade of Assistant Commissioner of Income Tax (ACIT) –  F.No. A-32013/02/2016-Ad.VI Government of India Ministry of Finance Department of Revenue (Central Board of Direct Taxes) North Block. New Delhi. The 27th January, 2020. Office Order No. 15 […]

CBDT revises jurisdiction of Principal CIT / CIT of Guwahati

January 27, 2020 807 Views 0 comment Print

CBDT revises jurisdiction of Principal Commissioner/ Commissioner of Income-tax, Guwahati vide Notification No. 6/2020 dated 27th January, 2020. .MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) Notification No. 06/2020-Income Tax New Delhi, the 27th January, 2020 S.O. 387(E).—In exercise of the powers conferred by sub-sections (1) and (2) of section 120 of […]

Section 144C and its Offshoot Amendment of section 246A!

January 27, 2020 1464 Views 0 comment Print

i) While re-adjudicating on the directions of the ITAT, the DRP has exceeded the directions. ii) In framing the final assessment order, the Assessing Officer has put the assessee in a more worse position than it was before filing appeal.

GST- Staggering of GSTR- 3B returns- Implications and Challenges!

January 27, 2020 3174 Views 2 comments Print

In the attached PPT Author discusses GST returns –Present vis-à-vis future, Why Staggering of returns preferred, What is the status of Staggering of return Globally, From which return Staggering is been implemented, From when Staggering of GSTR 3B Proposed, For Whom Staggering of GSTR 3B is applicable, New due dates of GSTR-3B, Staggering – Challenges!, […]

Extend due date of GSTR 9 & GSTR 9C to 31.03.2020 for FY 2017-18

January 27, 2020 330597 Views 102 comments Print

Tax Bar Associations have represented for the extension of due of date of GSTR 9 and GSTR 9C for the Financial Year 2017-18 to 31st MARCH, 2020.

Reg. registration as a valuer in asset class ‘Land and Building’

January 27, 2020 3246 Views 0 comment Print

Applicant had submitted an application under section 247 of the Companies Act, 2013 read with rule 6 (1) of the Companies (Registered Valuers and Valuation) Rules, 2017 (Rules) seeking a certificate of registration as a Registered Valuer (RV) in the asset class ‘Land and Building’ (L&B).

Process for Transfer of TAN across RCC / CIT(TDS) Charge

January 27, 2020 8178 Views 0 comment Print

Presently, approval is not required from source AO to transfer/release the TAN. But in this change, approval by the source AO is mandatory in the cases where TAN is getting transferred to different RCC or to another jurisdiction of CIT (TDS) / (Int. Tax.) / (LTU).

SEBI revises Margin Framework for Commodity Derivatives Segment

January 27, 2020 603 Views 0 comment Print

It has been decided, in consultation with stakeholders, to categorize commodities as per their realized volatility and to prescribe floor values of IM and IMPOR depending upon their categories.

SOP to be followed by Exporters claiming IGST Refund

January 27, 2020 10998 Views 1 comment Print

Recently, CBIC issued the circular number 131/1/2020-GST in which the standard operating procedure (SOP) to be followed by exporters has been described; 1. This Circular has been issued to verify the existence of exporters and mitigate the risk of fraudulent refund of IGST paid through utilizing the ITC which was availed on the basis of […]

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