Prakash Pandharinath Bakre Vs PCIT (ITAT Jaipur) Benefit under section 54 is available to an individual who has transferred a long term capital asset being a ‘residential House Property’ and the assessee has either purchased one residential house in India within a period of one year before or two years after the date of transfer […]
As notified vide Notification No 94/2020 – the amendment in Rule 21A of GST Rules, 2017 came to effect to enable the GST officers can now suspend a GST Registration with immediate effect if they found significant anomalies in GSTR3B Returns. A detailed SOP (Standard Operating Procedure) in this regard was issued by CBIC on […]
Extension of the Last Date for submission of application for Empanelment of Chartered Accountants firms/LLPs with O/o C&AG for the year 2021-22
Vishnu Prasad Vs DCIT (ITAT Jaipur) In the case of the assessee, (i) the identity of Shri Hanuman remains undisputed, as the summons issued by the AO was duly served upon him, (ii) genuineness of the transaction is also proved (from books of accounts) beyond doubt, as amount paid as advance to him, duly appeared […]
Yes! You read it right. This article makes an attempt to analyze the Code on Wages (Code) and the impact of the same on take home salary- The Code on Wages has been introduced aiming to streamline and simplify the existing labour laws. It was passed by parliament in 2019. The Code will subsume the […]
The Income Tax Department carried out search and survey operations on a group based in Mumbai on 08.02.2021. This group is mainly engaged in the business of manufacturing of Gutkha, Pan masala and allied substances, besides having operations in hospitality sector. The searches were carried out across many locations in India and concluded on 13.02.2021.
Learned Counsel pointed out that there are 28 contracts in respect of which demand has been made. Learned Counsel stated that they have paid the service tax in respect of Serial Number 14 and 20 of the said list and these are not disputed. Learned Counsel pointed out that they are entitled to get the benefit of the mega Exemption Notification No. 25/2012-ST dated 20 June, 2012. He pointed out that Serial Number 12(d), Serial Number 13(a) and Serial Number 14(a) of the said notification cover all the contracts that they have undertaken as these contracts are in respect of the canals, roads and railways etc. He pointed out that the availability of exemption under Serial Number 13(a) and 14(a) could not be taken up before Commissioner due to lack of proper representation by the Advocate. He pointed out that they are entitled to these benefits but the Commissioner‟s order only examine the benefits with respect to Serial Number 12(d) of the said notification. He pointed out that in order to get a proper redressel, the matter needs to be sent back to Commissioner for fresh adjudication for examining the relief under all the related entries of the mega Notification No. 25/2012-ST dated 20 June, 2012.
Indias overall exports (Merchandise and Services combined) in April-January2020-21* are estimated to be USD 396.60Billion, exhibiting a negative growth of (-) 10.63per cent over the same period last year. Overall imports in April-January 2020-21* are estimated to be USD 398.47Billion, exhibiting a negative growth of (-) 22.80per cent over the same period last year.
It’s now three months since the drive against the fraudulent use of fake GST invoices was launched in the second week of November, 2020. As on 13th February, 2021, the department has made 3046 cases and unearthed about 9294 fake GSTINs in just these 3 months.
♦ What does charitable activity mean under GST Act? The Goods and Services Act also specifies the criteria to be called a charitable activity. They are: I. Public Health by Way of: (A) Care or Counselling of Terminally Ill Persons or Persons with Severe Physical or Mental Disability; Persons Afflicted with HIV or AIDS; Persons […]
