ICAI proposes following Draft Regulations which provides that A Chartered Accountants has to appear and pass the Assessment if applying for membership after 3 years of clearing CA Finals or Members who have not renewed their membership for 3 years.
Videos on multiple topics of Outward supply and GST ITC for preparation & hand holding of GSTR 9/GSTR 9C for FY 2018-19. These videos are very important for basic understanding of taxpayers, professionals, etc. Speaker in the all the Videos is Learned CA Bimal Jain. Videos are on following for Topics- 1. Reconciliation of GST […]
A subsidy is an incentive given by the government to individuals or businesses in the form of cash, grants, or tax breaks that improve the supply of certain Goods and Services. With subsidies, consumers are able to access cheaper products and commodities. Markets that have positive externalities, which are extra benefits to society, tend to […]
The Indirect Tax Committee of ICAI have made following 4 representations to GST council on 10 September 2020 which relates to request for Extension of due date of Annual Returns in GSTR-9/GSTR-9A and GSTR-9C for the year 2018-19 by 3 months to December 31, 2020, request to Permit availment of input tax credit under GST […]
Fisheries and aquaculture are an important sources of food, nutrition, employment, and income in India. The sector provides livelihood to about 16 million fishers and fish farmers at the primary level and almost twice the number along the value chain. Looking at its potential and necessity to utilize for economic growth, Pradhan Mantri Matsya Sampada […]
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 […]
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.
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 […]
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, Painless & Faceless, for showcasing the perceived changed […]
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 […]
