(1) This Act may be called the Bilateral Netting of Qualified Financial Contracts Act, 2020. (2) It shall come into force on such date as the Central Government may, by notification in the Official Gazette, appoint, and different dates may be appointed for different provisions of this Act.
Representation seeking extension of due date for furnishing GSTR9 and GSTR9C for FY 2018-19 by KSCAA. It is requested to extend the due date for filing Annual Return GSTR9 and Reconciliation Statement GSTR9C for FY 2018-19 by at least 3 more months i.e. until 31st December, 2020 KARNATAKA STATE CHARTERED ACCOUNTANTS ASSOCIATION (R) Since 1957 […]
Endorsement of Kimberley Process (KP) Certificates issued by valid Kimberley Process (KP) Certificate Issuing Authority in the case of errors of minor nature i.e typographical errors or errors apparent on the face of records can be allowed subject to endorsement by Gem & Jewellery EPC as per the Standard Operating Procedure (SOP) which is annexed […]
Import under all HS codes of Chapters 72, 73 and 86 of ITC (HS), 2017 shall now require compulsory registration under the Steel Import Monitoring System (SIMS). Notification No. 33/2015-2020 dated: 28th September, 2020. MINISTRY OF COMMERCE AND INDUSTRY (Department of Commerce) (DIRECTORATE GENERAL OF FOREIGN TRADE) Notification No. 33/2015-2020 New Delhi, the 28th September, […]
Shri Bhuwan Goyal Vs DCIT (ITAT Chandigarh) Landmark Chandigarh ITAT order on Section 115BBE on investment made out of undisclosed business income held not to fall in Section 69 & 115BBE (AY 17-18). In the present case it is not in dispute that the assessee surrenderd the income of Rs. 3.64 Crores in the statement […]
In re Kumaran Oil Mill (GST AAR Tamilnadu) Whether proportionate claim of input tax credit for procurement of capital goods can be made for power generation business? The applicant is eligible for Proportionate claim of Input Tax Credit as per Section 17(2) of the CGST/TNGST Act read with Rule 42/Rule 43 of CGST/TNGST Rules 2017 […]
In re ST Engineering Electrnics Limited (GST AAR Tamilnadu) Whether rate of tax at 6% CGST, available to Composite supply of works contract as defined in clause(119) of section 2 of the Central Goods and Services Tax Act, 2017 provided by way of construction, erection, commissioning, or installation of original works pertaining to Metro, vide- […]
Exordium The issue that whether or not ‘Education Cess’ is allowable as deduction under the Income-tax Act, 1961 (‘the Act’) is debatable for a while now. Of late this issue has been decided in favour of the taxpayers by many Tribunals and High Courts. This article succinctly discusses this issue through provisions of the Act […]
The ACES-GST Application is an in-house effective tool for monitoring of productivity and revenue collection through its Dashboards. Saransh Dashboards’ available under Saksham monitors Log-in by the GST officers into the application.
Recovery of assets of defaulter member and recovery of funds from debit balance clients of defaulter member for meeting the obligations of clients / Stock Exchange / Clearing Corporation
