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Archive: 18 January 2021

Posts in 18 January 2021

Live Course on Appeal, Pleading & Drafting under GST by CA Sachin Jain

May 15, 2024 6996 Views 0 comment Print

oin us for an immersive live course led by renowned expert CA Sachin Jain, as we delve into the intricacies of appeal, pleading, and drafting under GST.

Petitioner cannot be made to suffer for No provision of restoration of GST registration in Software: HC

January 18, 2021 1635 Views 0 comment Print

Vidyut Majdoor Kalyan Samiti Vs State of U.P. (Allahabad High Court) The contention that there is no provision of restoration of a GST registration, once it has been cancelled borders on the absurd. In case, no provision for its restoration has been made in the software, the same is not the fault of the petitioner […]

e-invoicing under GST- Brief Overview

January 18, 2021 35049 Views 2 comments Print

E Invoicing is one of the biggest and positive update taken place under GST law like E Way Bill system in 2020. The invoicing practices are adopted by business houses are different from one another and government wants unified and equal approach in invoicing.

1 held by CGST Delhi officials for availing fake ITC of Rs 82.23 crore

January 18, 2021 750 Views 0 comment Print

In the ongoing drive against availment of inadmissible ITC, officers of Central Goods and Services Tax (CGST) Commissionerate, Delhi East unearthed a multi-layered network of fictitious firms being used to generate and pass on fake ITC.

12th GST compensation shortfall Instalment of Rs. 6000 cr released to States

January 18, 2021 315 Views 0 comment Print

12th Instalment of Rs. 6,000 crore released to the States as back to back loan to meet the GST compensation shortfall. A total amount of Rs. 72,000 crore released so far to all States and UTs with legislation. This is in addition to additional borrowing permission of Rs. 1,06,830 crore granted to the States.

TDS not deductible on Interest to Associate Members by Co-Op Credit Society

January 18, 2021 1434 Views 0 comment Print

We hold that the assessee is not liable to deduct tax at source from the interest payments made to Associate members as per sec.194A(3)(v) of the Act.

RoDTEP scheme come into operation from 01st January 2021

January 18, 2021 1632 Views 0 comment Print

As you are aware, the RoDTEP (Remission of Duties and Taxes on Exported Products) scheme has come into operation from  01st January, 2021. The scheme seeks to refund duties / taxes / levies at the Central / State and local levels, which have not already been exempted or remitted or given as credit.

Relaxations for Listed Companies in respect of General Meting through Virtual mode- Extended till 31.12.2021

January 18, 2021 3564 Views 0 comment Print

Relaxations for Listed Companies in respect of General Meting through Virtual mode- Extended till 31.12.2021 Securities and Exchange Board of India (SEBI) has issued circular no. SEBI/HO/CFD/CMD2/CIR /P/2021/11 dated January 15, 2021 regarding relaxation from compliance with certain provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 due to the CoVID -19 pandemic. SEBI vide Circular no. […]

Form CFSS-2020

January 18, 2021 7371 Views 3 comments Print

As you all aware due to Covid 19 pandemic MCA was launched new scheme called Companies Fresh Start Scheme (CFSS). Under CFSS scheme, 2020 defaulting companies has got the chance to file all its pending forms without any additional fees. CFSS scheme is valid from 01/04/2020 to 30/09/2020 which further extended upto 31/12/2020. Last date of CFSS […]

Practical Implementation of Rule 36(4) (5% ITC Rule) By GST Return Preparer

January 18, 2021 38478 Views 4 comments Print

Rule 36(4) of CGST Rules, 2017 inserted vide Notification No. 49/2019 dated 09th Oct, 2019 and it was made applicable w.e.f. 09th Oct, 2019. Enough hue and cry had taken place ever since application of this Rule came in existent. The issue was mainly due to quarterly GSTR-1 filers. According to my opinion very few taxpayers were following this rule till […]

Punjab One Time Settlement of Outstanding Dues, 2021

January 18, 2021 17505 Views 0 comment Print

(1) This scheme may be called the Punjab One Time Settlement of Outstanding Dues, 2021. (2) It extends to the whole of the State of Punjab. (3) It shall come into force on and with effect from the 15th January, 2021. (4) For assessments completed till 31st December, 2020, under the relevant Act, no application for settlement of dues under the said Scheme shall be entertained after 30th April, 2021.

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