Introduction of Private Placement: A Company shall go for issue of securities to fulfill their needs of funds for their business. Reason for issue is to have sufficient cash to run the operations and the day to day affairs of the company. For the companies in finance sector, achieving debt equity ratio also plays vital […]
Can a GST registered person, entitled to take eligible input tax credit (ITC) even as on date for the year 2017-18 and 2018-19 ? Prime concept under Goods and Service tax Act Start at the point of ELIGIBLE TO TAKE INPUT TAX CREDIT. Entitled to take means rights ; whereas claim is demanding to the […]
Presentation made on Indian Budget 2020 in the programme which was organised by Noida Management Association in association with Noida chapter of ICSI and ICMAI. The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and […]
Transaction value i.e. FOB price cannot be treated as cum duty price under section 14 of Customs Act, 1962 for the purpose of calculation of export duty.
The all empowered GST Council (GSTC) had its 39th meeting on 14th March, 2020. The meeting deliberated with a three pronged focus, viz, changes in law and procedure for trade facilitation, GST rates rationalization and I.T. facilities. The GSTC also took certain decisions to defer the new facilities/utilities and/or extend the due dates and date […]
The present article briefly covers the exemption provisions of section 54GA of the Income Tax Act. As per provisions of section 54GA, any capital gain arisen on the transfer of the capital assets (being machinery or plant or building or land) of an industrial undertaking which is situated in an urban area would be exempt. […]
Under GST, payment of tax is accompanied by a return. GSTR 3B is a simple return form introduced by the CBIC which is to be filed by 20th of the following month. Wherein only total values for each field have to be provided, this value must be for the month for which return is being […]
The issue under consideration is that the respondent had willfully defaulted in filing a return pursuant to the notices issued under Section 153A of the Act and thus, committed the offence punishable under Section 276CC of the Act.
(1) This Order may be called the Jammu and Kashmir Reorganisation (Adaptation of Central Laws) Order, 2020. (2) It shall come into force with immediate effect.
Assessee needs to seek stay of outstanding demand since his Bank account has been attached by the department. Also he has financial stringency. Attachments to bank accounts withdrawn to enable assessee to pay tax demand.
