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Archive: 28 October 2020

Posts in 28 October 2020

FAQs on Login, DSC Registration, E-Sign and EVC on GST Portal

October 28, 2020 45135 Views 3 comments Print

I have completed all the steps for the first-time login and I have been directed to a new credentials page. What should I do? You need to create your username and password to login to the GST Portal. For subsequent logins, you will use the username created now.

NCLT admits plea for insolvency process initiation against personal guarantor

October 28, 2020 3312 Views 0 comment Print

From the report there does not appear any request of the Resolution Professional for issuance of the instructions for the purpose of conducting negotiations between the debtor and creditors for arriving at the repayment plan. Therefore, based on the reasons recorded in the report submitted by the Resolution Professional

GST Problems – What our Government Should do Now

October 28, 2020 14508 Views 15 comments Print

By extending the dates of GST and tax audit, the government has given clear indication that the government is not only sensitive about the real problems of taxpayers at this time but is also taking timely action. See, these dates had to be extended later because the covid-19 pandemic has not ended yet but there […]

IP to ensure reasonable fees & appoint professionals only on need basis

October 28, 2020 1515 Views 0 comment Print

In the matter of Mr. Vijay Kumar Garg, Insolvency Professional- This order to be read with the Order of Disciplinary Committee dated 08 June, 2020 After considering the representations made by the D&P, oral and written submissions made during personal hearing and in the light aforesaid findings, this DC opines as follows. (i) It is […]

Cenvat credit eligible on outward transportation from factory gate to customer’s place

October 28, 2020 1563 Views 0 comment Print

Commr. of Central Excise Vs Anmol Biscuits Ltd. (CESTAT Kolkata) Hon’ble Supreme Court in the case of CCEx.,Belgaum Vs. Vasavadatta Cements Ltd. : 2018 (11) GSTL 3 (SC) held that that the assessee is legally eligible to avail credit on outward transportation availed from place of removal upto a certain point, whether it is a […]

Rule 6(3) of CCR, 2004 not applies to supply of dutiable good under SFIS Scheme

October 28, 2020 603 Views 0 comment Print

Sudhir Power Ltd. Unit-III Vs CCE & ST- Jammu and Kashmir (CESTAT Chandigarh) It is a fact on record that the appellant is manufacturing DG sets and enclosures which are dutiable under Chapter 85 of CETA 1985. The appellant is also clearing goods to the buyers under SFIS Scheme duty free in terms of the […]

Impact of Decisions of European Court of Justice on Concept of Composite Supply In India

October 28, 2020 3168 Views 0 comment Print

Composite supply under GST is a topic that is worth discussing considering the plethora of Advance Rulings that we have had ever since introduction of GST. Many of these advance rulings on the concept in question have also been contradictory leading to differing opinions on the subject.

Updated Due Date Chart of Income Tax Compliance

October 28, 2020 83451 Views 7 comments Print

Due to COVID-19 pandemic and challenges faced by taxpayers, the Government has extended due dates for Filing of Income Tax Return For A.Y. 2020-21, Filing of Income Tax Return Assessment Year 2019-20, Fling of Tax Audit Report for AY 2020-21, Filing of Transfer Pricing Audit for AY 2020-21 and for Filing of Other Audit Reports […]

Prosecution can be launched before Income Tax Assessment completion : HC

October 28, 2020 5049 Views 0 comment Print

Prosecution proceedings were separate and distinct from the assessment or re­assessment proceedings. There was no requirement under the Act that the assessment proceedings should be completed before launching prosecution. HC refused to quash prosecution for the compounding of offense under Section 276C(1) of Income Tax Act.

Tax Audit under Section 44AB- ICAI Checklist (Download)

October 28, 2020 79626 Views 0 comment Print

Approach To Tax Audit Under Section 44AB Of The Income Tax Act, 1961 (Checklist) This document is a joint effort of the Direct Taxes Committee and the Taxation Audit Quality Review Board of ICAI. This checklist is designed to assist the members in enhancing the quality of tax audit under section 44AB of the Income […]

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