"01 May 2020" Archive

GSTN ensured ‘Business as Usual’ for GST Helpdesk amid Lockdown

During lockdown, the GST Helpdesk was fully operational and running smoothly through its Toll-free number from 9AM to 9PM serving in 12 languages. The Goods and Services Tax Network (GSTN) with its Helpdesk service partner TechM created a secured virtual environment through next generation and robust technology for their Helpdesk employee...

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Taxability of Legal Services under GST (including registration provisions)

Definition: Legal Services means any service provided in relation to advice, consultancy or assistance in any branch of law, in any manner and includes representational services before any court, tribunal or authority- Notification no. 12- Central Tax(CT) (Rate) dated 28.06.2017....

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GST Accounting of Rule 36(4) of 110% Availment of GSTR 2A

New GST Accounting System Under Rule 36(4) With Respect To 110% Availment of GSTR 2A The businesses have to change the mindset, the way of accounting, the innovative way of doing accounting entries in the ERP systems to remain abreast of the continuous and dynamic changes in Gst rules/ Act. There have been more than […]...

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Paying Guest Accommodation can not be allowed as dwelling unit, liable for GST

As per Notification No. 9 dated 28.6.2017 of integrated Tax Rate, entry no. 13 under SAC 9963 or 9972, Services by way of renting of residential dwelling for use as residence is exempt from GST . Hence no GST is chargeable. According to Schedule –II , clause -2[b] (b) any lease or letting out of […]...

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GST on arranging Lorries from Lorry Owner for Transportation

Service Provided By Way of Arranging Lorries From Lorry Owner For Transportation Facilities of Customers and Issuing Lorry Receipts Is Taxable As GTA Services This important ruling has been given by AAR dated 8th July 2019 against an appeal filed by Balasubramanyam Saravana Perumal, registered under GST in the name and style of M/s Chitra...

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ICSI Requests MCA for Relaxations from Company Law Compliance

The Institute of Company Secretaries of India (ICSI) on 30th April, 2020 has made a Request to Shri Injeti Srinivas, IAS Secretary Ministry of Corporate Affairs, for relaxations in the provisions of the Companies Act, 2013 due to COVID-19 Due to COVID-19 outbreak and lockdown situation prevailing in the Country, various provisions of the ...

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Section 35(1)(ii) Donation: HC remands matter back to AO to check capacity of Donor

Krupa Trading Co. Vs ITO (Madras High Court)

In the given case The appellant made a contribution of Rs.1,00,000/- during the year, to M/s.Herbicure Healthcare Bio-herbal Research Foundation, Calcutta. The institution was approved to get the contributions under Section 35(1)(ii) of the Income Tax Act....

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Representation to reduce TDS rate on Professional Fees to 2%

A representation is been made to CBDT Chairman by leading accounting and CA Organisations of India  and it is been requested that current rate of 10% under section 194J of the Act should be reduced to 2% and to Prioritise issue of lower/ nil withholding tax certificates under section 197 of the Act. Full text […]...

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Tax Dues not barred by Insolvency Proceedings under IBC

Electrosteel Steels Limited Vs State of Jharkhand (Jharkhand High Court)

Electrosteel Steels Limited Vs State of Jharkhand (Jharkhand High Court) Facts The assessee company had challenged the garnishee order issued u/s 46 of the JVAT Act, asking the respondent Bank to pay into the Government Treasury, the sum of Rs. 37,41,41,602, on account of tax / penalty due under the JVAT Act, from the assessee […]...

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Auto Income Tax Calculator for F.Y. 2020-21 (A.Y. 2021-22)

This article contains Auto Income Tax calculator for Financial Year 2020-21 & Assessment Year 2021-22 in excel format. A circular issued by the CBDT on 13.04.2020 that salaried employees has to chose between the Old and New income-tax regime at the time employers are deducting TDS. OR at the time for filing of ITR. These […]...

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