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Archive: 11 March 2021

Posts in 11 March 2021

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

May 15, 2024 6267 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.

Live Course on How to Reply to GST Notices & SCN & to Fake ITC Notices? – Last day to Register

May 15, 2024 19290 Views 0 comment Print

Join our live course to learn expert strategies for replying to GST notices, SCNs, and fake ITC notices. Understand litigation nuances, evidence insights, and practical tips for effective responses. Register now!

Reinstate Audit Provisions Under GST Laws

March 11, 2021 25746 Views 3 comments Print

One of the changes proposed in the budget vide Section 101 & 102 of the Finance Act. 2021 is deletion of sub-section (5) of Section 35 of the CGST Act 2017 and substitution of Section 44 of the CGST Act 2017. Before this amendment was proposed, it was mandatory for every registered person whose Aggregate turnover exceeded Rs. 2 Crores in a financial year to get his accounts audited as specified under Section 35(5) of the CGST Act 2017 and furnish a Reconciliation Statement (GSTR-9C) duly certified by a Practicing Chartered Accountant or Cost Accountant. However as per proposed amendment as mentioned above, going forward this Reconciliation statement is expected to be self-certified by the registered person, thereby obliterating the requirement of certification on the veracity of the same by practicing Chartered Accountants or Cost Accountants.

CBDT notifies Head-quarter of PCIT/CIT (Central), Guwahati wef 03.01.2020

March 11, 2021 1131 Views 0 comment Print

MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) Notification No. 14/2021-Income Tax New Delhi, the 11th March, 2021 S.O. 1160(E).—In exercise of the powers conferred by sub-sections (1) and (2) of Section 120 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following amendment […]

Time period for claiming refund of excess Service Tax paid under TRAN-1, to be counted from date of it’s reversal

March 11, 2021 4716 Views 0 comment Print

CESTAT Ahmedabad, set aside the order passed by the Commissioner (Appeals) rejecting the refund claim of excess paid Service Tax of INR 1,61,203/- on the ground of time barred. Held that, the time period for claiming the excess Service Tax paid under GST TRAN-1 is to be counted from date of its reversal. Hence, the same is not time barred.

Legal Proceedings under Goods and Services Tax

March 11, 2021 7731 Views 2 comments Print

Section 69 read with Section 132: Provision pertaining to arrest under the CGST Act, 2017 Penal provisions always attract in case of violation of Provisions and Rules framed in an Act. GST Act is no exception to this statement,Section 69 read with Section 132 of the GST Act,2017 and rules made thereunder deals with provision […]

Bail Granted to accused arrested for availing ineligible ITC of Rs. 9 Crore

March 11, 2021 2631 Views 0 comment Print

The Hon’ble Bombay High Court in Sunil Kumar Jha and Akshay Chhabra v. Union of India & Ors. [Writ Petition (ST) No. 5484 of 2021 & Writ Petition (ST) No. 5486 of 2021, decided on March 11, 2021] granted bail to the accused arrested under Section 69 of the Central Goods and Services Tax Act, […]

No Section 234E interest on TDS returns filed prior to 1.6.2015

March 11, 2021 1659 Views 0 comment Print

Ram Niwas Agarwal Vs ITO (ITAT Bangalore) It is not in dispute that if the ratio laid down by the Hon’ble Karnataka High Court in the case of Fateeraj Singhvi (supra) is applied then the levy of interest u/s.234-E of the Act would be illegal for returns of TDS in respect of the period prior […]

17 States implement One Nation One Ration Card system

March 11, 2021 2661 Views 0 comment Print

Seventeen (17) States have successfully operationalised One Nation One Ration Card system with Uttarakhand being the latest State to complete the reform.

Addition for Non-Bonafide change in revenue recognition method justified

March 11, 2021 594 Views 0 comment Print

UL India Pvt. Ltd. Vs DCIT (ITAT Bangalore) The next issue relates to the addition made rejecting the claim of change in method of revenue recognition. The Ld A.R fairly admitted that this issue has been decided against the assessee by the co-ordinate bench in AY 2009-10 (referred supra). We notice that this issue has […]

IBBI extends validity of Educational Course Guidelines

March 11, 2021 471 Views 0 comment Print

IBBI extends the validity of the Insolvency and Bankruptcy Board of India (Online Delivery of Educational Course and Continuing Professional Education by Insolvency Professional Agencies and Registered Valuers Organisations) Guidelines, 2020 till 30th September, 2021.

All about e-Invoicing under the GST Law

March 11, 2021 8070 Views 3 comments Print

Roadmap for e-Invoicing was laid down with approval of GST Council in its 37th meeting and issue of notification by the Government bearing number 68/2019 CT to 72/2019 CT in December 2019. Due to Global pandemic, implementation of e-Invoicing deferred from April 2020 to October 2020. One of the myths among traders is that e-invoice […]

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