"30 January 2020" Archive

GST: Bank A/c of another Taxable Person cannot be provisionally attached merely for summons issued to him

Gehna Trading LLP Vs Union of India (Bombay High Court)01/01/1970

Power to provisionally attach bank accounts is a drastic power. Only upon contingencies provided therein that the power under section 83 can be exercised. It is therefore not possible to accept the submission of the Respondents that even though specified proceedings have been launched against one taxable person, bank account of another t...

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No Service Tax on recovering back of Cheque dishonor charges

TVS Finances and Services Ltd. Vs Commissioner of Central Excise (CESTAT Chennai)01/01/1970

The appellant is providing financial services and gives loans. For recovery of loans, the appellant collects post-dated cheques. There are instances when post-dated cheques after being presented to bank get dishonoured. The bank collects charges for dishonouring of the cheques. Such charges are recovered by the appellant from their client...

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GSTR-9C filing within one month- GSTN reply and Advisory

01/01/1970

Article answers following queries 1. New version of GSTR9C was made available on the Portal in December 2019. How can we file within one month? 2. Government extended date for filing of GSTR-1 up to 17/01/2020 but portal allows the ITC shown in GSTR-2A up to 30/04/2019. 3. Where is the provision to upload PDF […]...

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Board Resolution to file e-Form DPT-3, Onetime and Annual

01/01/1970

Authorisation to file e-Form DPT-3 One Time The Chairman informed the Board that the Ministry of Corporate Affairs (MCA) vide notification dated 22th January, 2019 in exercise of the power conferred by clause (31) of section 2 and section 73 read with sub-sections (1) and (2) of section 469 of the Companies Act, 2013 (18 […]...

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Complete work & hearing in office hours except in occasionally Circumstances: ITAT

Shri Shanmugam Senthilkumar Vs ITO (ITAT Chennai)01/01/1970

Shri Shanmugam Senthilkumar Vs ITO (ITAT Chennai) ITAT, Chennai advice to CIT ( Appeals) to Complete the work and hearing in office hours except in occasionally Circumstances hearing the appeals and making the tax practitioners, advocates and Chartered Accountants to wait till 9 PM to 10 PM on daily basis has to be avoid. Late […]...

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IEPF Compliance Checklist for a Financial Year

01/01/1970

IEPF Compliance Checklist for a Financial Year Updated as per Section 125 of Companies Act, 2013 and Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016. S. No.  Particulars of compliance Timelines 1 Form IEPF-3 Within 30 days of the end of the Financial Year 2 The Company shall inform th...

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Unit in Free Trade Warehousing zone exempt from service tax on export

M/s Broekman Logistics India) Pvt Ltd. Vs Commissioner of GST & CE  (CESTAT Chennai)01/01/1970

M/s Broekman Logistics India) Pvt Ltd. Vs Commissioner of GST & CE  (CESTAT Chennai) Appellant is authorized to carry out the operations by setting up a unit in the FTWZ zone. They have been rendering Storage and Warehousing services predominantly to foreign customers. On the charges collected for services rendered to Indian customer...

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Step by step simple process to raise Authorized Share Capital

01/01/1970

1. Increase in share capital shall be authorised by articles of association (AoA) of the company. In case AoA does not authorise to increase the share capital the AoA shall be amended as per section 14 of Company Act 2013 by passing special resolution. 2. The company shall need to alter the memorandum of association […]...

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Compliance under section 269SU

01/01/1970

In furtherance to the declared policy objective of the Government of India to encourage digital economy and move towards a less-cash economy, a new provision namely Section 269SU has been inserted in the Income-tax Act, 1961 vide the Finance (No. 2) Act 2019, which provides that every person having a business turnover of more than Rs...

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Notice Period Recovery – liable for GST?

01/01/1970

In recent years, the issue of Service Tax/GST liability on the Notice period recovery is a subject matter of dispute. While certain conservative employers have made a choice to pay service tax on such recoveries, certain employers have made bold choices of not paying taxes which were followed by the issuance of the demand notices/orders c...

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