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Archive: 07 September 2020

Posts in 07 September 2020

Suggestion /representation on 7 Important Direct Tax Issues

September 7, 2020 11475 Views 1 comment Print

Following is the summary of Suggestion /representation on behalf of the taxpayers/professionals in connection with the Direct tax related matter. Detailed reasoning of same is provided in subsequent paragraphs.

Interest on Overdue Payments – Issues under Transfer Pricing & Solutions

September 7, 2020 8877 Views 1 comment Print

In ongoing commercial transactions amongst multinational group like sale, purchase or transfer of goods/services/assets etc., there arises receivable or payable from one group company to another. This is generally referred to as ‘Overdue Balance’.

Request for non-insistence on Physical Presence for Assessment

September 7, 2020 4845 Views 0 comment Print

National Action Committee of GST Professional (Haryana) submitted a representation to Excise and Taxation Commissioner, Haryana, requesting him to direct the Assessing Authority not to issue the notice for assessment of cases for A.Y 2017-18 in the crucial time of pandemic. Text of the Representation is as follows:- To, The worthy Excise & Taxation Commissioner, […]

How to do GST Registration – For a Small Proprietorship Firm

September 7, 2020 79182 Views 7 comments Print

Documents Required for GST Registration of a Small Proprietorship Firm: -Mobile Number -E-Mail ID –PAN Card -Aadhar Card -Passport size Photo (Up to 100 KB Size ) -Bank Passbook or Bank Statement First page -Electricity Bill (latest) of the person on whose name Registration is seeking. Step by step approach for for GST Registration of […]

GST Updates & Deadlines of September 2020

September 7, 2020 62709 Views 5 comments Print

1. GST DEADLINES 1.1. Deadlines | September 2020 ♠ E Invoice mandatory for taxpayers whose Aggregate Turnover in previous financial year is more than Rs 500 crore. (Notification No. 60 & 61/2020 CT; Dated 30th July 2020) from 1 Oct 2020. ♠ Waiver of GSTR3B late Fees- Last date for availing conditional waiver of late […]

Equalisation levy : Tax on Digital Transaction

September 7, 2020 6372 Views 0 comment Print

As per section 165 of Finance Act. 2016, equalisation levy shall be charged at the rate of six percent on the amount of consideration for specified service received or receivable by non-resident from

Companies (Auditor’s Report) Order, 2020

September 7, 2020 9963 Views 0 comment Print

Provision of Companies (Auditor’s Report) Order, 2020 shall apply to every Companies including a Foreign Company as defined under Section 2(42) of Companies Act, 2013.

Section 7 of PC Act, 1988 cannot be invoked in absence of ‘Demand & acceptance of illegal gratification’

September 7, 2020 28668 Views 3 comments Print

The demand and acceptance is mandatory ingredients of section 7 of aforesaid act which cannot be overlooked at the time of lodging cases. Section 7 of the PC Act, 1988 reads as under:

Revocation of Cancellation of GST Registration – HC found argument of erroneous exercise of jurisdiction untenable

September 7, 2020 6669 Views 0 comment Print

M.S. Retail Private Limited Vs Union Of India (Karnataka High Court) It is not in dispute that the show cause notices, the order of cancellation and the order rejecting the application for revocation of cancellation are passed by proper officer. The show cause notice dated 18.03.2020 and the order of cancellation of registration dated 06.06.2020 […]

COVID and its Economic and Legal perspective

September 7, 2020 1854 Views 0 comment Print

The profound impact of the measures being taken by the Government to comprehend the rapid surge and spread of coronavirus COVID-19 is creating multiple issues for almost every sector especially for trades, industries, production units and their workforces. The Government of India has considered this COVID pandemic to be Force Majeure because the situations are […]

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September 2020