In Finance Act, 2020 Government came with section 194N ‘Payment of certain amounts in cash’, Applicable from 01st July, 2020, which states that : Every person, being,— (i) a banking company to which the Banking Regulation Act, 1949 (10 of 1949) applies (including any bank or banking institution referred to in section 51 of that […]
Supreme Court (SC) Judgment dated 8.3.2021 on Limitation period─Analysis & Impact on Transitional Credit – In the wake of Covid-19 pandemic Looking to the onset of COVID-19 pandemic and various measures taken by the Govt. to curb COVID-19, from time to time, the Hon’ble Supreme Court took suo motu Cognizance for Extension of Limitation, in […]
Standard Operating Procedures (SOPs) are the documented processes that an organization has consisting of a step-by-step instructions to help the employees within its organization to carry out its routine operations and to achieve efficiency, quality output & uniformity of performance while reducing miscommunication and time.
1. The airline industry is a product of the Aviation Industry – Did you know that the airline industry and the aviation industry are not the same? The airline industry generally has four business models. Full-service carriers, low-cost carriers, charter airlines, and cargo airlines. Whereas, the aviation industry includes aircraft manufacturers, research organizations, regulators, and […]
Roadmap to E-Invoicing for B2B Suppliers Notification No. 13/2020 dated 21st Mar 2020 ♣ E-Invoicing made mandatory for Registered Person having Aggregate Turnover more than 100 crore rupees in a year. ♣ Turnover of current F.Y. shall be consider. ♣ Provision shall come into effect from 1st Oct 2020. Notification No. 60/2020 dated 30th Jul […]
DCIT Vs Dough Makers India Pvt. Ltd (NAA) It was alleged that Respondent No. 1 supplying restaurant service has increased the base prices of his products and has not passed on the benefit of reduction in the GST rate from 18% to 5% w.e.f. 15.11.2017, affected vide Notification No. 46/2017-Central Tax (Rate) dated 14.11.2017 by […]
Compulsory/148/Set aside cases – where the assessee has not responded to the notices in last 30 days. However, the cases where emails are not present (cases without digital footprint) may not be marked as they would be handled by different procedure.
The ‘potential cases’ at Point no.1(iii) mean the cases flagged by the Directorate of Income-tax (Systems) subsequent to 04.03.2021. It is further clarified that the NMS cases flagged earlier will get subsumed in the new list.
Rajasthan Government notifies the manner for the verification of deposit of tax (GST) for the purpose of allowing the Input Tax Credit (ITC) for demands pertaining to assessments years upto 2017-18, where the demands have been created for want of verification of Input Tax Credit claimed by a dealer. GOVERNMENT OF RAJASTHAN COMMERCIAL TAXES DEPARTMENT […]
Dispatch of the appeal by assessee on 02.12.2019 was within the extended period of limitation of one month and, therefore, without considering the prayer for condonation of delay of assessee, respondent No.1 ought not to have rejected the appeal as being time barred by taking the ground that he had no jurisdiction to condone the delay beyond the extended limitation period of one month.
