"31 January 2020" Archive

20 imperative GST judgments for the year 2020

As GST roll out completed 2.5 years, we have seen everything in this period-transitioning from existing regime to new era, understanding the provisions of GST, analyzing what impact does it had rather still having on business, making GST compliances from return filing to reconciliations and as soon as one tax period completed, audit requi...

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Economic Survey and Union Budget 2020 – Interesting Facts

ECONOMIC SURVEY: Economic Survey is an annual document of the finance ministry, which provides comprehensive details about the state of the Indian economy, and reviews the economic progress made and issues faced in the past year. The report highlights the performance of the government’s major developmental schemes, policies along with t...

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Retention & Withheld Amount and GST

Treatment of retention & whithheld amount under construction contracts. Real Estate/ Construction Industry is one of most developed industries in India. Real Estate industry is also most unorganised sector in India. It is developing day to day and provided crores of people employment. Real Estate industry has its say in GDP of India. ...

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112 JCITs to Exercise powers and functions of DCIT/DDIT

F.No.187/01/2020-ITA-1 (31/01/2020)

Order u/s 120(1) of the Income-tax Act, 1961 – Exercise of powers and functions of DDIT/DCIT by Joint Commissioners of Income-tax. F.No.187/01/2020-ITA-1 Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes ITA-I Division North Block, New Delhi, Dated the 31 January, 2020 Order u/s 120 (1) of the I...

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Ahmedabad Bench of NCLT to excercise  jurisdiction of Madhya Pradesh

Notification No. S.O. 484(E) (31/01/2020)

Central Government hereby notifies that jurisdiction of State of Madhya Pradesh will be exercised by Ahmedabad Bench of National Company Law Tribunal (NCLT) till the operationalization of Indore Bench of NCLT, which will be notified by the Central Government by a subsequent notification....

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Tender for Appointment of CA firm for undertaking GST Audit

Tender for Appointment of Chartered Accountant firm for undertaking a GST Audit of the GST registration and filing Forms GSTR-9 and GSTR-9C for FY 2018­-19....

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E-Way Bill System- Blocking/Unblocking of E-Way Bill Generation

E-WAYBILL SYSTEM The Blocking/Unblocking of E-Way Bill Generation E-Way Bill system now has a new feature of blocking/unblocking of the taxpayer’s GSTIN, as per the rule. That is, if the GST registered taxpayer has not filed Return 3B for the last two successive months in GST Common portal, then that GSTIN will be blocked for […]...

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E-Way Bill System Verification of Vehicle number in EWB Portal- FAQs

Strengthening of E-Way Bill System: Integration of E-way Bill with Vaahan system of transport department (Pilot run of Vehicle Number Verification for Karnataka) E-Way Bill system is now integrated with Vaahan system of Transport Department. Vehicle (RC) number entered in e-waybill will be verified with Vaahan data for its existence/corre...

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Section 271B Penalty for failure to get accounts audited

According to provisions of section 44AB of the Income Tax Act, specific categories of the assessee are required to get their accounts audited. Accordingly, such specified categories of the assessee are also required to furnish the tax audit report. In case of any default, the assessee would be penalized under section 271B of the Income [&...

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GST on Access Card printed & supplied based on contents provided by customers

In re Pattabi Enterprises (GST AAAR Karnataka)

In re Pattabi Enterprises (GST AAAR Karnataka) (i) The ‘Access Card’ printed and supplied by the Appellant based on the contents provided by their customers is a supply of goods and is rightly classifiable under HSN code 4901 10 20 under the description brochures, leaflets and similar printed matter whether or not in single sh...

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March 2021