"05 July 2020" Archive

GST: HC cannot be made middle authority between Tax & Appellate Authority

L&T Hydrocarbon Engineering Limited Vs State of Karnataka (Karnataka High Court)

L&T Hydrocarbon Engineering Limited Vs State of Karnataka (Karnataka High Court) Learned Additional Government Advocate Sri.Vikram Huilgol for respondent No.2 submits that the appeal under Section 107 of Central Goods and Services Tax Act, 2017 are to be filed before the appellate authority. As such the petitioner cannot be so hurry a...

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Section 271(1)(c) Notice should clearly specify charge of Penalty

ITO Vs Shri Bimal Talukdar (ITAT Guwahati)

ITO Vs Shri Bimal Talukdar (ITAT Guwahati) The issue under consideration is whether the penalty proceeding u/s 271(1)(c) initiated by the AO sustain Under Income Tax Law? In the present case, the ITAT earlier had allowed the appeal of the assessee and cancelled the penalty levied u/s. 271(1)(c) of the Act by taking note of […]...

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Upsurge in E-way bills signals to green shoots in economy

More than 4.27 crore E-Way Bills generated in June 2020 against average of 5.3 cr per month of pre-COVID period. Value of E-way bills generated in June is close to pre-lockdown figures. Unlock 2.0 set to witness a further surge. New Delhi, 5thJuly 2020: E-way bill generation data, one of the prominent indicators of economic […]...

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GSTR 1, GSTR 3B Interest and Late Fees made simpler

Keeping in view the difficult time due to COVID 19 ,the Government of India, through a set of notifications and circulars  have brought recent changes to provide relief by way of conditional waiver of late fees and/or levy of interest on filing of GSTR 1 and GSTR 3B after the prescribed due dates.  In this […]...

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My 3 years with GST

Concept of GST was proposed by Atal Bihari Vajpayee government in 2000, but it took nearly 17 years for GST to come into existence. Major task to bring constitutional amendment and put majority of states on one table was easy for the lawyer turned Finance Minister Arun Jaitely and team of his experienced bureaucrats. Further […]...

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Compulsory GST Registration | Section 24 | CGST Act 2017 |GST Series Part 16

Compulsory GST Registration | Section 24 | CGST Act 2017 |GST Series Part 16 1. As per section 24(1) of the CGST Act 2017, the following categories of persons are required to be registered, even if their aggregate turnover is below specified threshold limit and are exempt from registration under section 22(1). 2. Section 24(i): […]...

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GST Applicable on Sale of Plot of Land with Amenities- GAAR

[ADVANCE RULING NO. GUJ/GAAR/R/2020/11 dated 19.05.2020] It has come into knowledge that an Application under Section 97(2) of CGST Act, 2017 was filed on 18.08.2018 by one Shree Dipesh Anilkumar Naik, an unregistered person, before The Gujarat Authority for Advance Rulings (GAAR). The applicant has seeking an advance ruling in respect of...

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Row over School Fee- Punjab & Haryana HC Balances Schools & Parents

The Punjab and Haryana High Court on June 30, 2020 allowed private schools in Punjab to collect tuition fee, even if they had not provided online classes during the lockdown period. The High Court also permitted them to collect admission fee in 2 instalments in 6 months. However, the schools have been restrained from increasing […]...

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Direct & Indirect Taxes Updates- June 2020

Direct & Indirect Taxes Updates- June 2020 DIRECT TAXES UPDATES Recent circulars/ notifications/ rules/ clarifications/News ♣ Extension of due dates w.r.t. ITR filing for FY2018-19, TDS/ TCS returns due dates for Q4- FY 19-20. Details given below- Particulars Earlier due date Updated due date ITR filing for FY 18-19 30th June 2020 3...

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FAQs on Compliance Audit by SEBI Registered Research Analysts

Frequently asked questions on Compliance Audit We have been receiving multiple questions related to Compliance audit requirement by SEBI Registered Research Analysts. Based on that we have attempted to capture some of the common questions. 1. What is Compliance Audit? Basically Compliance Audit is checking of the compliances followed by t...

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April 2021