"13 September 2020" Archive

Inquiry before DGGSTI -ITC on fake GST invoices – FAQs

Inquiry before DGGSTI in respect of allegation of fraudulent ITC on fake invoices under GST Act Q.1. Nodal officer is State Government SGST officer and DGGSTI is CGST officer who has a power to issue summons under the Act? Ans:- As far as inquiry investigation is concern DGGSTI has a power to investigate the case […]...

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Decriminalise certain offences under GST Law: ICAI CMA

Penalty for violation of statutory provisions involves a penalty of money and confiscation of goods and these penalties are imposable by the department authorities. Criminal punishment is of imprisonment and fine, which can be granted only in a criminal court after prosecution but these are also provided under GST Law....

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HC accepts WRIT on ITC blockage due to non-filing of GSTR 3B

M/s Kalpsutra Gujarat Vs The Union of India (Gujarat High Court)

Kalpsutra Gujarat Vs Union of India (Gujarat High Court) HC issued notice to the department to understand from the respondents whether the omission on the part of the third party (Seller) in filing the GSTR-3B for the relevant period would be sufficient to block the Input Tax Credit of the writ applicant. We would also […]...

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GST e-invoice/IRN System- FAQs

What is e-invoicing? ‘e-invoicing’ means the invoice shall be prepared after obtaining an Invoice Reference Number (IRN) by uploading specified particulars (in FORM GST INV-01) on the notified Invoice Registration Portals (IRP)....

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GST E-Invoice System- Highlights with FAQs

Taxpayers whose aggregate turnover during the financial year 2019-20 exceeds Rupees five hundred crore (Rs. 500 crore) are required to upload the Invoice details on the Government Invoice Registration Portal (IRP) w.e.f. 01st October 2020 Join us to know how to + Register the Invoice + Generate IRN for the supplies + Upload in e-Invoice [...

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Faceless Assessments – A Paradigm Shift towards Digital & Anonymous Tax Administration!!

1.1 Faceless assessments: A Paradigm Shift towards Digital & Anonymous Tax Administration!! Well Yes Friends, FACELESS ASSESSMENTS have become a REALITY now… Our Hon’ble PM Sh. Narendra Modi has launched a new platform for Transparent Taxation for ‘Honouring the Honest Taxpayers’, coining three new terms viz. Seamless, Painles...

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ST refund of tax paid on advance for which service not rendered due to merger cannot be denied

Lancor Holdings Limited Vs The Commissioner of G.S.T. and Central Excise (CESTAT Chennai)

Lancor Holdings Limited Vs The Commissioner of G.S.T. and Central Excise (CESTAT Chennai) There is no dispute as to the eligibility or otherwise for refund except the claim being rejected as barred by limitation. There is also no dispute that both the service provider and the service recipient having merged into a single entity, there [&h...

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Cestat referred issue of ST reverses charge on salary of seconded employee’s to Larger Bench

M/s Canon India Pvt Ltd Vs Commissioner, Goods & Service Tax (CESTAT Chandigarh)

M/s Canon India Pvt Ltd Vs Commissioner, Goods & Service Tax (CESTAT Chandigarh) The issue involved in the present case is in respect of levy of service tax on the amounts paid as salary to expats under the taxable category of Manpower Supply Services. With effect from 01.07.2012, the law as introduced by the way […]...

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Income tax TCS provisions applicable from 01st Oct 2020

Quick view on the New income tax provisions applicable from 01st Oct 2020. As all aware of the Amendment  made in the  section 206C in the budget 2020 by inserting subsections. 1. insertion of subsection – 206(1G) 2. insertion of subsection – 206(1H) insertion of subsection – 206(1G)  Section read as follows  (I) after sub-secti...

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FAQs on recent Amendments in Indian Stamp Act, 1899

Frequently Asked Questions (FAQs) on Indian Stamp Act, 1899 Amendments and Rules made thereunder Q.1 Why amendments in the Indian Stamp Act, 1899 have been made? Answer: The amendments have been carried out with respect to securities market transactions. The present system of collection of stamp duty on securities market transactions has ...

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September 2020