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Archive: February, 2020

Posts in February, 2020

Good Governance in Corporate

February 28, 2020 1011 Views 1 comment Print

If the corporate sector in India has to experience wide spread success on a sustained basis it is imperative for a change in the mind set of all the concerned players.

Validity of interest under GST Law for delay in Filing of Return

February 28, 2020 31371 Views 6 comments Print

Whether Levy Of Interest Under GST Act 2017 Is Valid And Whether The Levy Of Interest Should Be Levied For The Delay In Filing The Return, Is There Any Provision?

Assessment proceedings cannot be conducted against HUF after partition

February 28, 2020 939 Views 0 comment Print

The issue raised by the assessee that the HUF was not in existence when the assessment proceedings have been conducted and the Assessment Order has been passed on HUF and therefore, the entire proceedings are rendered null and void and it should be held that the Assessment Order is bad in law on the facts and circumstances of the present case.

बड़े धोखे हैं इस (जीएसटी) की राह में

February 28, 2020 2118 Views 0 comment Print

देश के निर्माण एवं विकास में प्रत्येक वर्ग और नागरिक की बराबर का भागीदारी और दायित्व रहता है। देश के विकास में वैज्ञानिक नये-नये अविष्कार करते हैं, मैकेनिकल एवं सिविल अभियंतागण देश के बुनियादी ढांचा खड़ा करते हैं, लेकिन इन सब विकास मंे सबसे महत्वपूर्ण भागीदारी निभाता है देश का ‘करदाता’ और ‘टैक्स एडवोकेट’। क्योंकि […]

GST Problems which Requires Immediate Solution

February 28, 2020 54855 Views 26 comments Print

The GST is at vital stage at present.The Department is concerned about revenue and the Taxpayers are anxious about actions to be initiated against them for technical and innocent Mistakes done by them while trying to follow the back to back stringent GST procedures without any intension of evasion of tax. Number of Notices is […]

NCLAT cannot enter into commercial wisdom of COC & disturb business decision

February 28, 2020 2736 Views 0 comment Print

Pacific World Shipping PTE Ltd. Vs Dadi Impex Pvt. Ltd. (NCLAT) The main grievance of the Appellant is that the Operational Creditors have been given only token 2% of their claims admitted while the Financial Creditors are given 100% of their claims. The learned Counsel for the Bank has then relied on Regulation 37 of […]

No Section 68 Addition for issue of Shares on Premium in lieu of shares

February 28, 2020 2157 Views 0 comment Print

The sole issue involved in this appeal of assessee is against the action of Ld. CIT(A) in confirming the addition of Rs.5,01,00,000/- made by AO u/s. 68 of the Income-tax Act, 1961 (hereinafter referred to as the Act) on account of bogus share capital including share premium

FAQs on e-invoice under GST

February 28, 2020 35358 Views 8 comments Print

Frequently Asked Questions on e-Invoice Q 1. What is an e-invoice? Ans: Issue of a tax invoice in an electronic format to the recipient and validated/authenticated by the tax administration before it is transmitted to the receiver. Q 2. Is it mandatory to issue e-invoice from the designated government portal? Ans: No, the tax invoice […]

Comparison of Reporting CARO 2020 vis a vis CARO 2016

February 28, 2020 2379 Views 0 comment Print

Comparison of the Reporting Companies (Auditor’s Report) Order 2020 (CARO 2020) vis a vis Companies (Auditor’s Report) Order 2016 (CARO 2016) Applicability of Companies (Auditor’s Report) Order 2020 It shall apply to every company including a foreign company as defined in clause (42) of section 2 of the Companies Act, 2013 (18 of 2013) [hereinafter […]

Section 194C TDS not applicable on terminal handling charges

February 28, 2020 72834 Views 0 comment Print

As per the circular no. 723 dated 19.09.1995 states that where the provisions of Section 172 are to apply, the provisions of Section 194C and 195 relating to tax deduction at source are not applicable.

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