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Archive: 09 March 2021

Posts in 09 March 2021

HC directs GSTN to allow petitioner to rectify GSTR-3B return

March 9, 2021 23961 Views 0 comment Print

To issue any direction to the respondents by which a registered person can edit any error if occurred during submitting/offsetting the ITC and before filing of the GSTR-3b return

TDS on Cash Withdrawal above Rs. 20 lakh

March 9, 2021 35313 Views 1 comment Print

Deduction of TDS in respect of aggregate Cash Withdrawal above Rs. 20 lakh by an account holder of National (Small) Savings Schemes for non ITR filer under section 194N of I.T. Act 1961.

Burden of proof on accused to rebut the presumption that cheques was not issued for discharge of any debt or liability.

March 9, 2021 5937 Views 0 comment Print

Since there was no response by the appellant at any stage either when the cheques were issued, or after the presentation to its banker, or after the legal notices were served informing the appellant that both the cheques on being presented to its banker were returned with a note that it could not be honoured because of “insufficient funds”  and there was no evidence to rebut the presumption that the cheques were issued for consideration, therefore, the High Court had not committed any error in recording the finding of guilt of the appellant and convicting her for an offence being committed under Section 138 under its impugned judgment.

Orissa HC admits Writ Petition against Faceless Appeal Scheme

March 9, 2021 11418 Views 1 comment Print

Hon’ble Orissa High Court Admitted the Writ Petition Filed By CTBA against Faceless Appeal Scheme The Cuttack Tax Bar Association (Life Member of AIFTP) filed the Writ Petition against the Notification of Union Government for Faceless Appeal Scheme bearing W.P.(C) No.33457 of 2020, which was listed for hearing in the Court of Hon’ble Chief Justice […]

Section 10A, 10AA deductions not allowable on Income from other sources

March 9, 2021 7872 Views 0 comment Print

Amount of income which qualifies for deduction is the profits of the business of the undertaking and not any income earned by assessee de hors the business of the undertaking. If the relevant items of income are held to be falling under the head `Income from other sources’, the same will not qualify for deduction under sectio 10A, 10AA.

Selection of Core Business on GSTN Portal

March 9, 2021 14781 Views 9 comments Print

Selection of Core Business Selection on GSTN Portal for Registered Taxpayers – Recently GSTN has introduced a facility to identify core business activity from one of the below options – A. Manufacturer B. Trader C. Service Provider and Others One may choose any ONE of the aforesaid activity based on below criterion – Meaning of […]

Purchase and Sales Return Under GST

March 9, 2021 263934 Views 26 comments Print

1. The Purchase & sales returns are common in day-to-day business transactions. This concept is treated in a slightly different manner under GST Act 2017. 2. Purchase Return: The purchase return is the return of the goods by the customer to the seller. From the GST perspective, it is a return by the recipient to […]

Income Tax Dept searches leading bullion trader in Tamil Nadu

March 9, 2021 921 Views 0 comment Print

The Income Tax Department carried out searches on 04.03.2021 in the case of two Chennai based groups, one of which is a leading bullion trader in Tamil Nadu and the other is one of the biggest jewellery retailers in South India. The search operation was carried out at 27 premises located in Chennai, Mumbai, Coimbatore, Madurai, Trichy, Trissur, Nellore, Jaipur and Indore.

More than 81% account holders are Women under Stand Up India Scheme

March 9, 2021 1386 Views 0 comment Print

Ministry of Finance, in the past seven years has launched various Schemes which have special provisions for empowerment of women. These Schemes have financially empowered women to lead a better life and chase their dreams of being an entrepreneur.

Maximum Penalty of Rs. 1000 for Minor clerical error in E-way Bill

March 9, 2021 6024 Views 0 comment Print

Tirpthamoyee Aluminium Products Vs State of Tripura (High Court Tripura) According to the petitioner, due to a clerical error the distance from the place of origin to the ultimate destination i.e. from Howrah to Agartala, was shown as 470 Kms. instead of actual distance which was 1470 Kms. The petitioner would point out that as per […]

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