"02 March 2021" Archive

View e-Way Bill Blocking/Un-Blocking History

Advisory No: 03/2021 02/03/2021

A feature to view the e-Way bill blocking/un-blocking history of a tax payer is developed and is being rolled out. The feature is enabled at Pan India Level. It has the following interfaces to search the e-Way bill history of a tax payer....

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HUF: An entity that emerges as a result of customary Law

01/01/1970

Hindu Undivided Family (HUF) : An entity that emerges as a result of customary Law There are different entities which have separate legal existence some of them emerges naturally (like Humans), some of them emerges as a result of incorporation or in simple words registration under any statue (like Companies and Registered Firms) but there...

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Permanent Account Number : Banker’s Perspective

01/01/1970

In this write up I have tried to compile – provisions related with PAN under Income Tax Act, 1961 (Section 139A & 139AA and 272B), Income Tax Rules (Rule 114) and FAQs on PAN issued by Income Tax Department. For further clarity on the topic these are the references. Why PAN  PAN is the need […]...

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Section-59 Self Assessment Under GST

01/01/1970

Assessment Under GST Section-59 Self Assessment Overview -GST was introduced on 01st July 2017, It has been around 3.5 years, since its beginning every taxpayer had option for self assessment to rectify for any mistake or error done while complying with the provisions of GST Act & Rule made there under as per section-59 Self Assessme...

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QRMP Scheme – A Half Baked Remedy

01/01/1970

Quarterly Returns with Monthly Payment (QRMP) Scheme The Central Board of Indirect Taxes & Customs (CBIC) introduced Quarterly Return Filing and Monthly Payment of Taxes (QRMP) scheme under Goods and Services Tax (GST) to help the taxpayers having turnover less than Rs. 5 crores. The QRMP scheme allows the taxpayers to file GSTR-3B on...

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Career Opportunities for Young CS on Contract Basis for ROC work

01/01/1970

In continuation to the earlier advertisement and in accordance with the understanding between the ICSI and Ministry of Corporate Affairs for deployment of Resources on contract by ICSI at the 'Central Registration Centre' for processing of Company 'Name Availability' (RUN) and 'Incorporation' (SPICE) forms, the ICSI invites applications f...

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Delhi East CGST Officials arrest man for ITC fraud of Rs 38.91 crore

01/01/1970

In the ongoing drive to counter the menace of fake billing operators, information from analytics tool NETRA (Network Exploration Tool for Revenue Augmentation), was developed by the officers of Central Goods and Service Tax (CGST) Commissionerate, Delhi East to unearth a network of fictitious firms used to generate and pass on fake Input...

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Collection of revenue is primary objective of GST law & arrest is only incidental to achieve this objective

01/01/1970

In a recent order dated 15.02.2021, Hon’ble Bombay High Court, in the case of Daulat Samirmal Mehta v. Union of India, W.P. No. 471 of 2021 has passed an important order on power to make arrest under Section 69 of the Central Goods and Services Tax Act, 2017 (CGST Act, 2017). As per the facts […]...

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GST: HC allows opportunity of personal hearing

Asiatic Clinical Research Pvt. Ltd. Vs Union of India (Karnataka High Court)01/01/1970

Asiatic Clinical Research Pvt. Ltd. Vs Union of India (Karnataka High Court) HC held that Taking note that an opportunity of personal hearing was not availed, in the interest of justice, it would be appropriate if the petitioner is afforded an opportunity of personal hearing to substantiate the detailed replies made, as per the acknowledg...

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Basic understanding on GST implications in Joint Development Project with Excel Template

01/01/1970

From 01.04.2019 the effective rate of GST applicable on construction of residential apartments by promoters in a real estate project are Sl No. Description Effective Rate of GST ( After deduction of Value of Land ) 1 Affordable Residential apartments 1% on total consideration (Without ITC ) 2 Other than Affordable Residential apartment...

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