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Archive: 25 November 2020

Posts in 25 November 2020

Kerala & West Bengal also chooses Option-1 to meet GST implementation shortfall

November 25, 2020 552 Views 0 comment Print

Governments of Kerala and West Bengal have communicated their acceptance of Option-1 to meet the revenue shortfall arising out of GST implementation.  The number of States who have chosen this option has gone up to 25. All the 3 Union Territories with Legislative Assembly (i.e. Delhi, Jammu & Kashmir and Puducherry) have also decided in favour of Option-1.

NCLT Benches re-constituted to attend regular hearing via Video Conference w.e.f. 1.12.2020

November 25, 2020 810 Views 0 comment Print

File No. 10/03/2020-NCLT NATIONAL COMPANY LAW TRIBUNAL 6th Floor, Block-3, CGO Complex, Lodhi Road, New Delhi- 110003 Dated: 25 November 2020 ORDER The NCLT Benches are hereby re-constituted as under to attend regular hearing through Video Conference w.e.f. 1.12.2020. The Benches shall hear the matters of respective jurisdiction as were hearing before lockdown (before 23rd […]

Detailed Analysis of TDS under Section 194-IA

November 25, 2020 15180 Views 1 comment Print

Section 194-IA is very familiar but tricky section to implement in real life. Though it is effected from year 2013, so many people are still unaware about many different things related to 194-IA and hence today I am writing this all inclusive article on Section 194-IA which will include everything from basic section, its compliance, […]

DG, GST arrests 3 in massive GST frauds of more than Rs 2350 crores

November 25, 2020 1437 Views 1 comment Print

The Mumbai Zonal Unit of the Directorate General of GST Intelligence, [DGGI-MZU], Central Board of Indirect Taxes & Customs (CBIC), today (November 25, 2020), arrested three persons for having indulged in massive frauds involving the availment & utilization, as well as passing on of ineligible Input Tax Credit (ITC) on the strength of bogus invoices. This has been stated in a press release issued by Seema Jere Bisht, Pr. Additional Director General, DGGI-MZU.

No rejection of books of account if no specific defect pointed out by AO

November 25, 2020 1635 Views 0 comment Print

Rejection of books of accounts under section 145(3) was not justified as once the books of accounts had been prepared/recasted, AO could not go back to the stage of survey proceedings  to contend that since no books of accounts were available at that point in time, he would not consider the books of accounts so recasted/prepared and furnished subsequently.

No detention of good for mere mismatch in Value in e-way bill

November 25, 2020 3468 Views 0 comment Print

P. H. Muhammad Kunju And Brothers Vs Assistant State Tax Officer (Kerala High Court) No detention on the ground that the value mentioned in delivery challan to job worker mis-matched with value mentioned in e-way bill from job worker In a case where the goods were detained during transit since there was a mismatch between […]

Section 11 exemption on donation by a charitable trust to others for utilization towards charitable objects.

November 25, 2020 4305 Views 0 comment Print

Inter-trust donations from one charitable trust to another for utilization by the donee trust for charitable purposes was proper application of income for charitable purposes in the hands of the donee trust and it would not affect the exemption claimed as application by the Donor trust.

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