1. GST registration can be cancelled or suspended under CGST Rules, 2017 21A at the discretion of the tax officer in certain cases; 2. Changes in Rule 36(4) of CGST Rules, 2017 from 1st January, 2021- recipients can claim provisional Input Tax Credit (ITC) in GSTR-3B to the extent of 5% instead of earlier 10% of the total ITC available in GSTR-2B for the month;
महान ग्रीक दार्शनिक हेराक्लिटस का एक कथन है – ‘परिवर्तन इस दुनिया में एकमात्र स्थायी चीज है’। परिवर्तन होना तय है । भले ही यह जीवन का कोई अप्रत्याशित मोड़ हो या ब्रह्मांड की सामान्य घटना से जुड़ा हो। जीएसटी कानून में भी हम परिवर्तन पिछले तीन वर्षो से लगातार देख रहे है। हम सब […]
When a statutory form is created by law for redressal of grievance, a writ petition should not be entertained ignoring the statutory dispensation. Therefore, assessee had not only have efficacious remedy, rather alternative remedy under the GST Act, and therefore, the present petition was not maintainable.
In my considered opinion, disallowance of 12.5% of the bogus purchase as reduced by the gross profit already disclosed by the assessee would meet the end of justice. It does not need to be reiterated that if the gross profit already shown is more than 12.5%, no disallowance is required.
As announced in the Statement on Developmental and Regulatory Policies as part of the Sixth Bi-monthly Monetary Policy Statement for 2019-20 dated February 06, 2020, the Reserve Bank of India has constructed a composite Digital Payments Index (DPI) to capture the extent of digitisation of payments across the country.
Dinesh Salecha Vs DCIT (ITAT Mumbai) It was expounded that in case of assessments which have attained finality no addition under section 153A can be done without seized incrementing material. We are aware that in these cases earlier assessments were not done u/s 143(3). In our considered opinion, the Hon’ble Jurisdictional High Court has never […]
PCI Limited Vs ACIT (ITAT Delhi) The Assessing Officer made the addition of Rs.73,69,830/-qua Transfer Pricing Adjustment on account of providing corporate guarantee by the Assessee to its overseas associated enterprises companies, namely, PCI Asia Pacific Pvt. Ltd. and PCI Middle East FZE by treating the interest rate of 1.3% based on average fees charged […]
AO had recorded incorrect, wrong and non-existing reasons for reopening of the assessment and also failed to verify the information received by him before recording the reasons for reopening of the assessment. Thus, there was clearly non-application of mind on the part of AO to initiate the re-assessment proceedings. Thus, the reopening of assessment could not be sustained in Law.
Union Education Minister announces the dates of CBSE Board examinations- 2021. Class 10th and 12th Board Examinations to be held from 4th May 2021 to 10th June, 2021 – Shri Ramesh Pokhriyal ‘Nishank’. Results of Class 10th and 12th Board Examinations to be declared by 15th July, 2021 – Shri Ramesh Pokhriyal ‘Nishank’ Practical exams of Class 12th to start from 1st March, 2021 – Shri Ramesh Pokhriyal ‘Nishank’
The Income Tax Department carried out search and seizure action on two Kolkata based Groups engaged in manufacturing & trading of Steel, trading of marbles & stones, food grains etc.
