"16 September 2020" Archive

Refund on Inverted Tax Rate Structure-Anomaly Persists!!

INTRODUCTION: Under the Central Goods and Services Tax Act, 2017 normally, the refund provisions under Section 54 of the Act applies in the following cases :- 1. Zero Rated Supplies (Exports to a country outside India & Supplies to SEZ). 2. Inverted Tax Rate Structure. “Inverted Tax Rate Structure” means a situation when there is ...

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Request to extend due date of GSTR 9 & 9C for F.Y. 2018-19

Ae would like to humbly request your honour to kindly extend the due date of filing GSTR 9 and GSTR-9C for the Financial year 2018-19. ...

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Equalisation Levy 2.0 – Non-payment of tax by major tech giants

Equalisation Levy is a form of direct tax. The primary issue with such type of unconventional taxing is lack of payment getaways and methods, for this reason the payment is withheld at the time of payment by the service recipient....

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Is Income Tax is tax on income or tax on turnover ????

Most of taxpayers under Income tax act, 1961 afraid to file appeal against additions made by assessing officers due to fear of departmental procedures/penalty/bar/attachment in  the thought process of normal taxpayers. however, most of cases  seen  where department made disallowance of expenditure even if payment made through  electro...

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Cost recovery from employees – Whether taxable & ITC implications

1. An employer may be providing certain facilities (e.g. transportation, canteen, etc.) to its employees as part of the employment contract. For the sake of maintaining accountability, the employer may also be recovering a certain portion of the cost incurred from the salaries payable to the said employees. Now the following issues will a...

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Alternative Disput Resolution and Arbitration

A dispute arises as soon as a person is born and this carries out throughout his life. A small child has a dispute with his parent with regards to his choice of food he eats, games he plays. Dispute can arise between parties where they have common interest in a thing but they have different of opinion on the method of fulfilling that inte...

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22 queries & solutions relating to GSTR-9 for 2018-2019

1. Whether the figures of supply made during 2017-18 but disclosed and tax paid in 2018-19 will be reported under the Table 4 of 2018-2019? While preparing the GSTR-9 for 2017-18, the said amount of under reporting must have been shown in Table 10 of the GSTR-9 of 2017-18. Table 4 of GSTR-9 of 2018-19 […]...

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Section 10AA Deduction on Enhanced Income Earned through APA

ACIT Vs EYGBS India Pvt. Ltd. (ITAT Bangalore)

whether the 1st proviso of section 92C(4) is triggered when the income computation for deduction u/s 10AA is enhanced only in the computation of income and no such entries are made in the books of account?...

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No Coercive Action by DGGI Without a Weeks Prior Notice: Delhi HC

Directorate General of GST Intelligence Vs Mukesh Garg (Delhi High Court)

No Coercive Action by DGGI against Respondent Without a Weeks Prior Notice: Delhi HC...

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Impact of Measures Announced In Response To Spread of Covid-19 On Corporate Compliances

Impact of Measures Announced In Response To The Spread of Covid-19 On Corporate Compliances In response to the spread of the Covid-19 virus, various business support measures have been put in place by Central Government, State Governments, RBI, SEBI, Ministry of Corporate Affairs (MCA), ICSI and ROC. The purpose of this document is to pre...

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March 2021