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Archive: 19 February 2020

Posts in 19 February 2020

Free YouTube Live on The global landscape –  from market’s to trade

May 24, 2024 1173 Views 0 comment Print

Join us for an insightful and dynamic YouTube Live session on “The global landscape –  from market’s to trade.” with renowned financial analyst Ankit Baid, MBA Finance. The presentation explores shifting of the global economic landscape, focusing on the decline of US dominance and the rise of China. It examines the potential decrease in global […]

Live Course on Appeal, Pleading & Drafting under GST by CA Sachin Jain

May 15, 2024 7698 Views 0 comment Print

oin us for an immersive live course led by renowned expert CA Sachin Jain, as we delve into the intricacies of appeal, pleading, and drafting under GST.

Goods Manufactured for use by other Manufacturers cannot be subjected to Excise U/s. 4A

February 19, 2020 1101 Views 0 comment Print

T.M. Tyres Limited Vs Commissioner of Central Excise (CESTAT Hyderabad) It is an admitted fact on record that the appellant is engaged in the manufacture of Butyl rubber inner tubes and such product by itself is separately identifiable and is a distinct Marketable product. It cannot be said that the product manufactured by the appellant […]

Kolkata high court stays service tax audit

February 19, 2020 2412 Views 0 comment Print

Considering the submissions made by all the parties, and the orders placed before me in relation to stay of similar notices of Service Tax audit by the different High Courts,  I am of the prima facie view that the impugned notices dated December 13, 2018 and April 25, 2019 should be stayed till June 12, 2020 or until further orders whichever is earlier.

Mistake of Legal advisor must be bonafide mistake to justify condonation of delay

February 19, 2020 14364 Views 0 comment Print

pleader’s gross carelessness affords no ground for condonation of delay; that a legal advisor’s  mistake, in order to justify condonation of delay must be a bonafide mistake; that mistaken advice given by a lawyer negligently and without  due care is not sufficient cause; that the mistake should be such, which  even a skilled legal advisor, well=versed and experienced in law might  make that mistake; that, the fact that there was lawyer’s wrong advice  has to be proved by the party seeking condonation of delay; and that the Counsel must disclose the circumstances in which incorrect advice  was given and, it is not sufficient to make a perfunctory and general  statement that wrong advice was given bonafide.

Problems faced by Tax Professionals of Bhilwara in GST Refund related Work

February 19, 2020 1377 Views 0 comment Print

Tax Bar Association has made a representation Regarding the problems faced by the members of Tax Bar Association, Bhilwara in the work of GST Refund. Problems includes unprofessional attitude of person in charge of GST Refund, Delay in GST Refund Process and Centralised System Of Authority To Approved GST Refund. Tax Bar Association BHILWARA — […]

The dreadful “others” category in HSN-warning by DGFT, Ministry of Commerce

February 19, 2020 4803 Views 0 comment Print

The importers and exporters are in a state of shock as well as dilemma after the issuance of Trade Notice No. 46/2019-20 dated 17.1.2020 which was issued with regard to the imports and exports under the ‘others‘ category. The notice states that importers and exporters have been casually mentioning the Harmonised System (HS) code for […]

Section 271I Penalty for failure in furnishing Form 15CA & Form 15CB

February 19, 2020 37842 Views 2 comments Print

Any person making payment to a non-resident (not being a company) or a foreign company is required to furnish payment information in Form 15CA and Form 15CB. In case such person fails in furnishing the information in Form 15CA and Form 15CB, then he would be liable to pay the penalty under section 271-I of […]

IBC: Analysis of Circular on Filing of ROC forms by IRP, RP or Liquidator

February 19, 2020 3000 Views 0 comment Print

Analysis of General Circular No. 04/2020 Dated 17.02.2020 on Filing of forms in the Registry (MCA-21) by the Insolvency Professional (Interim Resolution Professional (IRP) or Resolution Professional (RP) or Liquidator) appointed under Insolvency Bankruptcy Code, 2016 (IBC, 2016). What is Relevant? Filling of forms in MCA by the IRP & RP appointed under IBC Code […]

Payment of Gratuity Act is fully applicable to Teachers in Schools

February 19, 2020 62157 Views 9 comments Print

This article is prepared to create awareness amongst CA’s, Accounting/Finance Personnel & Management of Schools about Supreme Court Judgment dated 07.03.2019 about Eligibility of Teachers in Schools for Gratuity Benefits under the ‘Payment of Gratuity Act 1972′. This article will also give information about ‘Methods for Discharging the Gratuity Liability by the Schools’. On March […]

Recent Drought in Indian Lending Space

February 19, 2020 609 Views 0 comment Print

Recent Drought in Indian Lending Space – Have corrective measures been taken ? The current slowdown in the economy largely fueled by decline in credit off take to auto, real estate & other sectors is gradually leading to unemployment & decline in GDP growth rates. The essence of all human activity & inter-relationship is “Mutual […]

GST Annual Return for F.Y. 2018-19 : Due date 31.03.2020

February 19, 2020 25992 Views 5 comments Print

Vide Order No. 08/2019-Central Tax, dated 14.11.2019, CBIC has extended the due date of filing GST Annual return for the Financial Year 2018-19 up to 31.03.2020. As per Sec.44(1) of CGST Act, 2017 the due date for filing annual return for FY.2018-19 was 31.12.2019. So, one extension is already given by the Govt. to file […]

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