Sponsored
    Follow Us:

Archive: 03 June 2020

Posts in 03 June 2020

GST Compliances in Case of GTA

June 3, 2020 31047 Views 11 comments Print

Background of levying tax on the services of Goods Transport Agency The levy of Service Tax on Road Transportation Service has always been a debatable issue. The Finance Act, 1997 and 2004 had levied Service Tax on Goods Transport Operators (Transport of Goods by road) w.e.f. 16-11-1997 and 10-09-2004 respectively, which was subsequently withdrawn Due to nation-wide […]

GST Series Part 9 – Eligibility & Conditions for taking ITC | Section 16 | CGST Act

June 3, 2020 78669 Views 16 comments Print

GST Series Part 9 – Eligibility & Conditions for taking Input Tax Credit (ITC) under Section 16 of CGST Act, 2017 Section 16 is one of the most important sections for the Input Tax Credit (ITC) it provides the ITC eligibility and conditions for smooth sailing of business. It is the first test for moving […]

Mere bald assertions by AO in reasons for reopening would confer valid jurisdiction to AO to Reopen?

June 3, 2020 1485 Views 0 comment Print

Each aspect of Section 147 has been a subject matter of careful scrutiny by the court of law. One such main issue is with respect to the validity of the assumption of jurisdiction by the AO to reopen the assessment beyond four years, merely by making a Bald Assertion in the reasons as to the failure of the Assessee to disclose fully and truly all the material facts. The author has made an analysis veracity of such practice with the help of available judicial pronouncements

Salaried individuals to brace up for new questions from tax authorities in tax returns

June 3, 2020 3510 Views 0 comment Print

Salaried individuals to brace up for new questions from tax authorities in their tax returns Are you salaried individual earning below INR 50 lakhs per annum filing the simple ITR-1? Still get ready to answer the new questions that the tax authorities would seek from you for this year onwards. The income tax department yesterday […]

First Time Dual Income Tax Rates For Individuals in Income Tax

June 3, 2020 3309 Views 0 comment Print

Every time the Finance Minister makes the changes in the Income Tax at the time of presentation of annual budget proposals. This year a historical change is announced by the Finance Minister along with the various provisions that keep changing in the Budget, 2020. A new section (Section 115BAC) is added in the Income Tax […]

Tax on Digital Companies in India & Scope of Equalisation Levy

June 3, 2020 1851 Views 0 comment Print

Taxation On Digital Companies In India And Scope Of Equalisation Levy After the liberalisation, territorial boundaries were no longer a restriction for businesses and enterprises, so an international market for various kinds of products and services emerged. Businesses have come ahead in the economic sphere to carry out trade activities across countries without having any […]

Corporate Regulatory Updates May 2020

June 3, 2020 1899 Views 0 comment Print

Covid 19 cases in India are inching closer to 2 Lakh cases. The Hon’ble PM has made announcement on May 12, 2020 of the special economic package of Rs. 20 lakh Crores (~USD 267 billion) i.e. approximately 10% of India’s Gross Domestic Product (GDP) and the call for building a self-reliant (Atmanirbhar Bharat) India., with […]

ITAT dismisses ex-parte order of CIT denying Section 80G exemption

June 3, 2020 675 Views 0 comment Print

Whether the ex-parte order of the CIT(Exemptions) denying 80G exemption is justified in law? ITAT dismissed ex-parte order of CIT(E) on the basis of principles of natural justice

Govt imposes anti-dumping duty on Electronic Calculators

June 3, 2020 1821 Views 0 comment Print

Notification No. 12/2020–Customs (ADD)– Seeks to impose anti-dumping duty on ‘Electronic Calculators of all types [excluding calculators with attached printers, commonly referred to as printing calculators, calculators with ability to plot charts and graphs, commonly referred to as graphing calculators and programmable calculators originating in, or exported from Malaysia’. MINISTRY OF FINANCE (Department of Revenue) […]

Govt extends anti-dumping duty on ‘Hot Rolled Flat Products of Stainless Steel of ASTM Grade 304

June 3, 2020 642 Views 0 comment Print

Notification No. 11/2020 -Customs (ADD)- Seeks to amend No. 28/2015-Customs (ADD), dated the 5th June, 2015 so as to extend anti-dumping duty on ‘Hot Rolled Flat Products of Stainless Steel of ASTM Grade 304 with all its variants as per the detailed description hereunder’ originating in or exported from People’s Republic of China, Malaysia and […]

Sponsored
Sponsored
Search Post by Date
November 2024
M T W T F S S
 123
45678910
11121314151617
18192021222324
252627282930