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Archive: November, 2020

Posts in November, 2020

Physical verification report in Form GST REG-30

November 9, 2020 43958 Views 1 comment Print

Form GST REG-30 is a verification report submitted/ uploaded by the proper officer detailing the physical verification conducted of the place of business of the person under Goods and Services Tax (GST). The present article explains the provisions relating to filing of a report in Form GST REG-30 and details covered in Form GST REG-30. […]

DTPA submits 33 Income Tax Pre Budget Suggestions for 2021

November 9, 2020 7140 Views 0 comment Print

At the outset we convey your honour our Congratulations on introducing Faceless Assessment and Faceless Appeal Schemes and also introducing new Taxpayers Charter. Direct Taxes Vivad Se Vishwas Scheme is also a commendable step to reduce litigations. We assure your honour of our full support in the implementation of the same.

Risk adjustment / Benchmarking of international transactions- ITAT Remands case back to AO

November 9, 2020 1047 Views 0 comment Print

GCO Technologies Centre Private Ltd. Vs ITO (ITAT Mumbai) We have deliberated at length on the aforesaid issue under consideration and are unable to persuade ourselves to subscribe to the projection of the aforesaid comparable company viz. M/s Cather Consultancy Services Pvt. Ltd by the assessee as a profit making company during the financial year […]

ITAT Allowed Deduction of Municipal Taxes on Area Not Leased Out

November 9, 2020 2721 Views 0 comment Print

Dream Motels (P) Ltd. Vs ITO (ITAT Mumbai) The issue under consideration is whether treating municipal taxes paid is considered as a part of rent liable to be taxed u/s 23 of the act? ITAT states that, upon due consideration of factual matrix, the crystal-clear position that emerges is the fact that as per the […]

HC Again Rejects Petition by CA seeking to direct Institute of Cost Accountants to use acronym ‘ICOAI’ instead of ‘ICAI’

November 9, 2020 1437 Views 0 comment Print

The issue under consideration is whether the petition filed by the CA for seeking to direct the Institute of Cost Accountants of India to use the acronym ICOAI instead of ICAI will be sustain by the High Court?

Compliances for Listed Companies with Respect to Companies Came Under the Ambit of IBC, 2016

November 9, 2020 9411 Views 0 comment Print

The Companies which are listed on stock exchanges has to mandatorily comply with the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations 2018 or SEBI (LODR). These companies needs to comply with the Quarterly/half yearly/annual and general compliances under SEBI Listing Regulations (LODR), which are as follows: QUARTERLY COMPLIANCES: Regulation 13(3): […]

Due date of Emergency Credit Line Guarantee Scheme extended till 30.11.2020

November 9, 2020 1305 Views 2 comments Print

The Government of India recently had extended the Emergency Credit Line Guarantee Scheme (ECLGS) by a month till 30th November 2020, as the scheme had thus far failed towards meeting the target of Rs 3 lakh crore. The scheme has been launched as part of the Atma Nirbhar Bharat Abhiyan package, which was announced by the Finance Minister […]

Homebuyers can now approach both Consumer Court & RERA for delay in Real estate Projects

November 9, 2020 7017 Views 1 comment Print

The Supreme Court of India has recently held that the homebuyers who after buying houses have not got possession of their flats within the fixed contract time period, will now are free to approach the consumer forum for compensation from the builder for delaying in the handing over possession of their houses, in spite of the enactment […]

AAR allowed withdrawal of ruling application as relevant Venture was over

November 9, 2020 666 Views 0 comment Print

In the reference 5th cited, M/s. Savitri Ashirvaad Buildtech Limited, have informed through mail, that the Venture is over and they don’t need the ruling.  Hence the dealer has withdrawn the advance Ruling Application.

Supply of Mud Engineering Services, chemicals and additives are neither composite & nor Bundled Supply

November 9, 2020 945 Views 0 comment Print

In re Halliburton Offshore Services Inc. (Oil India) (GST AAAR Andhra Pradesh) The issue at hand for discussion is whether the supply of mud engineering services and supply of imported mud chemicals and additives provided on consumption basis by the applicant under the contract qualify as composite supply or not. Before embarking upon the question, […]

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