"April, 2021" Archive

Is Post Facto GST Registration Cancellation Affects ITC already claimed?

In this article, we will discuss about the scenario where Input Tax Credit denied to the bona-fide purchasing dealer owing to the default on the part of the selling dealer. Nowadays, the GST officers has started issuing notice demanding reversal of Input Tax Credit availed on purchase made from Registered Tax payers (RTPs) whose registrat...

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ICSE (Class X) 2021 Examinations cancelled by CISCE

Council For The Indian School Certificate Examinations has issued a Press release on 19th April 2021 and said that Given the present worsening situation of the Covid- 19 Pandemic in the country, the CISCE has decided to CANCEL the ICSE (Class X) 2021. The status of the ISC (Class XII) 2021 Examination remains the same, […]...

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Union Government takes Steps to boost supply of Oxygen to Hospitals

Ministry of Health and Family Welfare Union Government takes Steps to boost supply of Oxygen to Hospitals Industrial Oxygen limited to 9 Industries Special ‘Oxygen Express’ Trains to run through Green Corridors for Transport of Liquid Medical Oxygen Posted On: 18 APR 2021 The country has been facing an unprecedented surge in the new d...

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Paytm Money cannot charge fees from AMC whose direct plan they are selling

Guideline No. SEBI/H0/1MD/DF1/0W/P/2021/000008743/1 09/04/2021

Currently Paytm Money Limited (PML) does not charge advisory or execution fees, and intends to avail of reimbursement of the service related out-of-pocket expenses such as KYC, PG, technology hosting. platform maintenance etc. form Asset Management Companies (AMC) whose direct plans they are selling, as PML is bearing the cost that the AM...

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MHA Letter to States to Prohibit Supply of Oxygen to Industry

Notification No. 40.6/2020-DM-1(A)/ Pt (2) 18/04/2021

It has recommended to prohibit the supply of Oxygen for industrial purposes by manufacturers and suppliers forthwith from 22.04.2021 till further orders, with the exception of nine specified industries....

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HC Slams UP Government for Poor Covid-19 Infrastructure & Management

In-Re Inhuman Condition At Quarantine Centres And For Providing Better Treatment To Corona Positive Vs State of U.P. (Allahabad High Court)

In-Re Inhuman Condition At Quarantine Centres And For Providing Better Treatment To Corona Positive Vs State of U.P. (Allahabad High Court) Economy, economy and economy is the only tune that the government is all the time harping upon, but bread and butter if you take to a person who needs oxygen and medication, it will be […]...

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Non-Payment of GST – ITC availed by Buyer- HC Quashes notice to Buyer as seller not questioned

D.Y. Beathel Enterprises Vs State Tax Officer (Data Cell) (Madras High Court)

D.Y. Beathel Enterprises Vs State Tax Officer (Data Cell) (Madras High Court) Section 16 of CGST Act, 2017 provides that Input Tax Credit (ITC) could be availed by the buyer if GST is paid by the seller. Thus, in case of non-payment of GST, who should be questioned, the seller or the buyer? It can […]...

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Have You Missed Action on Intimation Notice Received – E- Campaign?

1. Have you received an e-mail or SMS from Income Tax Department on March 29 / 30 March 2021 related to the Income-tax return (ITR) filed for the financial year 2019-20 and missed the response by the due date i.e., 31st March 2021? 2. THE MESSAGE READS LIKE THIS: “The Income Tax Department has received […]...

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CARO 2020 – Unfold Practical Aspects

UNFOLD CARO 2020, COMPANIES ACT, 2013 PART 1 – CLAUSES 3(i) to 3(iii) {As empowered to the Central Govt. under Section 143(11) of Companies Act, 2013 with the consultation “National Financial Reporting Authority” (NFAR)} When I started my carrier as ‘Practicing Chartered Accountant’ then reporting under Companies (Audito...

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Shri Piyush Goyal launches Startup India Seed Fund Scheme

Minister says the Startup India Seed Fund Scheme will Secure seed funding, Inspire innovation, Support transformative ideas, Facilitate implementation, and Start startup revolution;...

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