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Archive: 24 February 2020

Posts in 24 February 2020

Free Webinar: Analysis of 10 Recent Income Tax Judgments in Favour of Assessee

July 1, 2024 2472 Views 0 comment Print

Join our free webinar on July 7 at 5 PM for insights into 10 recent High Court income tax judgments favoring assessees. Expert analysis by CA Dipak Dama.

Official amendments to Direct Tax Vivad se Vishwas Bill 2020

February 24, 2020 19848 Views 1 comment Print

The Direct Tax Vivad se Vishwas Bill, 2020 (‘the Bill’) was introduced in the Parliament on 5th Feb, 2020. After introduction of the Bill, a notice for moving the following amendments to the provisions of the Bill has been given to the Parliament on 14th Feb, 2020, which is subject to the approval of and […]

NCLAT releases Flipkart India from Corporate Insolvency Resolution Process (CIRP)

February 24, 2020 1956 Views 0 comment Print

Neeraj Jain Vs Cloudwalker Streaming Technologies Pvt. Ltd. (NCLAT) we have found that demand notice delivered under Section 8(1) of the Code was not proper and was also incomplete. The Operational Creditor failed to submit any documents to prove in existence of the Operational debt and the amount in The Operational Creditor also failed to […]

Discount given for non-provision of certain service to foreign buyer not liable under BAS

February 24, 2020 684 Views 0 comment Print

MAN Trucks India Pvt. Ltd. Vs CCE (CESTAT Delhi) In a case where the assessee had exported goods to sister concern who in turn had sold them to buyers there, with the foreign importer being responsible for providing after sales services, CESTAT Delhi has held that the discount given in consideration for non-provision of warranty […]

Section 272B Penalty for failure to comply with provisions of PAN

February 24, 2020 30642 Views 0 comment Print

Understand the penalty for non-compliance with PAN provisions. Learn about the implications of section 272B of the Income Tax Act and the amount of penalty payable.

Offence under GST provisions are non cognizable hence FIR can be lodged

February 24, 2020 3393 Views 0 comment Print

In the instant case, the allegations are in respect of getting bogus firms registered under the GST Code and of preparing bogus invoices for the purpose of evading tax.

Delegation of authority for blocking of credits in Maharashtra

February 24, 2020 822 Views 0 comment Print

State commissioner of  Maharashtra issues a Notification for Delegation of authority for blocking of credits  as per CGST Rule 86A.  Notification Authorises Deputy Commissioners, Assistant Commissioners and All state tax officers for blocking of credit. COMMISSIONER OF STATE TAX, MAHARASHTRA STATE GST Bhavan, Mazgaon, Mumbai 400 010, dated 24th January 2020 Order MAHARASHTRA GOODS AND […]

Draft Employees’ State Insurance (General) Amendment Regulations, 2020

February 24, 2020 2763 Views 0 comment Print

Employees State Insurance Corporation vide notification No. N-12/13/1/2016-P&D dated 24.01.2020 released the draft regulation on Employees’ State Insurance (General) Amendment Regulations, 2020 to further amend Employees’ State Insurance (General) Regulation, 1950. The Employees State Insurance Corporation proposes to make in exercise of the powers conferred by Section 97 of the Employees’ Insurance Act, 1948 (34 […]

Interest on FD received at pre-operative stage is capital receipt

February 24, 2020 4830 Views 0 comment Print

Interest income generated during pre-operative period was correctly reduced by assessee-company from WIP  as the same was inextricably linked with the power project and would be considered as capital receipt

HC refuses to allow release of goods for Non Disclosure of Godowns & Non Payment of GST & Penalty

February 24, 2020 3819 Views 0 comment Print

The subject matter of challenge in the instant writ proceeding is challenging the seizure as well as praying for release of the seized goods. A counter affidavit filed on behalf of the State reveals, inter alia, as follows :-

Format of Draft reply against Section 50(1) GST Interest demand

February 24, 2020 74388 Views 1 comment Print

Article compiles Format of Draft Letter / reply against Section 50(1) GST Interest demand in respect of the Delayed payment of the Tax amount on account of Late filing of the GSTR 3B Return. Dear Sir, R: M/s. _____________  GSTN : Your Letter No.———- dated——- in respect of Interest Due U/s 50(1) received through mail. […]

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