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Archive: 21 July 2020

Posts in 21 July 2020

Free Webinar: Analysis of 10 Recent Income Tax Judgments in Favour of Assessee

July 1, 2024 2166 Views 0 comment Print

Join our free webinar on July 7 at 5 PM for insights into 10 recent High Court income tax judgments favoring assessees. Expert analysis by CA Dipak Dama.

Analysis of Section 69 to 72 of CGST Act 2017

July 21, 2020 11493 Views 1 comment Print

Simplified GST Series-Section 69-72 /CGST Act 2017- Explains about  Section 69- Power to arrest, Section 70-Power to summon persons to give evidence and produce documents , Section 71- Access to business premises and Section 72-Officers to assist Proper Officers . Section 69- Power to arrest (1) Where the Commissioner has reasons to believe that a […]

How will sanitizers disinfect germs of confusion under GST?

July 21, 2020 6165 Views 1 comment Print

As we all are fighting with the coronavirus, and alcohol-based hand sanitizers being a major weapon in this war, there is still confusion on GST rate to be charged on the same. The manufactures and GST officers are having an argument, whether it should be charged at 12% or 18%.

DTAA overrides Section 206AA of Income Tax Act, 1961

July 21, 2020 6297 Views 0 comment Print

DCIT Vs Bharath Fritz Werner Ltd. (ITAT Bangalore) At the time of hearing it was not disputed that the issue raised by the revenue in its appeals are already decided by a Special Bench of ITAT, Hyderabad. The issue regarding the applicability of provisions of section 206AA of the Act, in cases of tax to […]

New Disclosure Asked or Added in ITR and Form 26AS

July 21, 2020 4905 Views 0 comment Print

A) Income Tax New disclosures asked in the new ITR forms are: 1. House ownership: Individual taxpayers who are joint owners of house property cannot file ITR 1 or 2. Passport: One needs to disclose the Passport number if held by the This is to be furnished both in ITR 1-Sahaj and ITR 4-Sugam. Hopefully, […]

CBIC & CBDT sign MoU to facilitate exchange of data

July 21, 2020 1728 Views 0 comment Print

A Memorandum of Understanding (MoU) was signed between the Central Board of Direct Taxes (CBDT) and the Central Board of Indirect Taxes and Customs (CBIC) today, for data exchange between the two organisations. The MoU was signed by Shri Pramod Chandra Mody, Chairman, CBDT, and Shri M. Ajit Kumar, Chairman, CBIC, in the presence of senior officers from both the organizations.

Striking Off the name of Company under Companies Act, 2013

July 21, 2020 7749 Views 0 comment Print

Striking off the name of Company under Companies Act, 2013 1. Power of Registrar to remove the name of Company Section 248 On the basis on following that- 1. Company has failed to commence its business within one year from its incorporation. 2. Its not carrying on business or operation for a period of 2 […]

GST on Redevelopment Projects

July 21, 2020 118389 Views 30 comments Print

Redevelopment is a method of urban renewal that seeks to provide additional and better quality housing, make land available in the center of the city, eliminate urban decay and improve infrastructure. In the recent past there are two major reasons observed for the rapid surge in the number of redevelopment projects across India. 1.)  Increase […]

Form GSTR-4 Annual Return made available on GST portal

July 21, 2020 16080 Views 2 comments Print

GSTN has made Form GSTR-4 (Annual Return for Composition Taxpayers) available on the GST portal. This will enable 17 lakh Composition Taxpayers to file their returns on an annual basis with effect from FY 2019-20.

The New Consumer Protection Act, 2019

July 21, 2020 2244 Views 0 comment Print

The New Consumer Protection Act, 2019 The Union Minister for Consumer Affairs, Food & Public Distribution Mr. Ram Vilas Paswan, on July 20th, 2020 introduced the amended Consumer Protection Act, 2019 with the idea of empowering consumers and helping them protect their rights in a better way. The Consumer Protection Act, 2019, brought in the […]

Advance rulings | Definition of Business | Sec 2(17) | CGST Act, 2017

July 21, 2020 16083 Views 2 comments Print

Definition Of  Business Under GST – Overview Supply or acquisition of goods including capital goods and services Admission of person to any premises Provision of facilities to a member of a club, association etc Activities are undertaken by CG, SG or  any Local authority Services supplied as the holder of the office Services by Race […]

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