"10 October 2020" Archive

Transit Checks of Goods & Conveyance under CGST Act 2017

This article covers provisions relating to inspection, seizure, and detection of goods and conveyances carrying the goods prescribed vide section 68, section 129 of CGST Act read with Rule 138 of CGST Rules 2017....

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HC Reject Bail Application against Offense of Creating Fake Firms & Claiming Fraudulent ITC

Commissioner, CGST, Delhi West Vs Amit Kumar Jain (Patiala House Court)

In the instant case, the petitioner is filing the petition for requesting to grant the bail against the offense committed under GST by creating fake firms and claiming such fraudulent input tax credit....

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GST Portal – 41 Common Errors & Suggested Solutions

Dear Taxpayer, below is a useful compilation of common issues reported on GST portal and suggested solutions. You can search errors based on module/form. You may like to check these before approaching Help Desk. S. No. Error Code Error Category / Form Error Message Why this error comes? Suggested Solution 1 404- No documents found [&helli...

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Unexplained jewellery: ITAT allows credit for 100 gms of jewellery to son of assessee

Parag Gupta Vs DCIT (ITAT Delhi)

Parag Gupta Vs DCIT (ITAT Delhi) The issue in the present ground is with respect to addition of Rs. 2,70,000/- on account of unexplained jewellery. It is the contention of the learned AR that if the correct quantity of jewellary (i.e. 671.53 gms is considered instead of 771.83 gms) and if the credit for jewellery […]...

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Income Tax Department conducts search in Ahmedabad

The Income Tax Department, based on credible intelligence, conducted a search & seizure action on 08.10.2020 at Ahmedabad in the case of a group engaged in the businesses of real estate, construction and land trading. Search was conducted at 27 premises, which included offices and residences of some associates also....

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Blocking of E-Way Bill generation facility after 15.10.2020

1. In terms of Rule 138 E (b) of the CGST Rules, 2017, the E Way Bill generation facility of a person is liable to be restricted, in case the person fails to file their GSTR-3B returns, for a consecutive period of two months or more....

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Learning How To Trade: Steps To Follow

There are millions of neophytes who try to invest their money in casinos each year, but in the end, they become poorer but wiser. When they decide to walk away, they will never have reached their full potential. That’s because the majority of them fail because of a common thing – not taking time to […]...

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GST: HC refuses to entertain writs as alternate remedy against attachment order was available

Neutron Steel Trading Pvt. Ltd. Vs Commissioner CGST (Delhi High Court)

Neutron Steel Trading Pvt. Ltd. Vs Commissioner CGST (Delhi High Court) Petitioners have a remedy against the order of attachment by way of filing objection under sub-rule (5) of rule 159 of the Central Goods and Services Tax Rules, 2017, this court would be reluctant to entertain these petitions under Article 226 of the Constitution [&he...

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Understanding TDS with Judicial Judgements

The Tax deducted at source (TDS) is covered under chapter XVII of the Income Tax Act, 1961. There are number of sections & subsections under which TDS has to be deducted but the important which are most used by the assessee are given below:...

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Capital Gains Exemption – Section 54EC

All categories of persons are eligible to avail exemption benefit under section 54EC of the Income Tax Act. Section 54EC exemption is available only towards the capital gain arisen on account of transfer of long term capital asset (being land or building or both)....

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