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Archive: August, 2021

Posts in August, 2021

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

May 15, 2024 6471 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.

Date for filing application for revocation of cancellation of GST registration extended

August 31, 2021 3249 Views 0 comment Print

Where the due date of filing of application for revocation of cancellation of registration falls between 1st March, 2020 to 31st August, 2021, the time limit for filing of application for revocation of cancellation of registration is extended to 30th September, 2021.

Transitional Credit allowed on ground of technical glitch in GSTN

August 31, 2021 1359 Views 0 comment Print

Activities of GST are technology driven where the taxpayer has to go through various instructions to migrate, especially in the initial stage. Therefore, it becomes improbable to expect the transition to be smooth as claimed by the Revenue.

GSTR 3B notified as specified return under Section 39 w.e.f. 01-01-2021

August 31, 2021 16599 Views 1 comment Print

GSTR -3B has been notified as a return as specified for Section 39 of CGST Act, 2017 w.e.f. 01-01-2021 The Central Goods and Service Act, 2017 (CGST Act, 2017) prescribed three returns i.e. FORM GSTR-1 (for outward supplies) u/s 37 of CGST Act, 2017 [Rule 59(1)], FORM GSTR-2 (for inward supplies) u/s 38 of CGST […]

Exposure Draft of revised AS 36, Impairment of Assets,

August 31, 2021 498 Views 0 comment Print

Exposure Draft of revised AS 36, Impairment of Assets, has been issued by the ASB for comments with the last date being September 30, 2021,

Interplay of section 36 & section 43B [Employee Contribution]

August 31, 2021 6189 Views 0 comment Print

1. Controversy in the past a. Before the amendment in Finance Act 2021, various taxpayers claimed the deduction of employee’s contribution deposited after the due date specified in relevant act but before the due date specified in section 139(1) of the Income-tax Act. b. If tax audit is also applicable on the taxpayer, then the […]

High Court deprecates the “Illness Slip” Device

August 31, 2021 2748 Views 0 comment Print

It is common practice in the District Courts and the High Court for the advocates to pass  “‘Illness Slip’ and the matter is usually passed over by the Courts. It is likely that the advocate may be unwell but there is also likelihood that the ‘illness slip’ is just a device/ruse employed by the said advocate to circumvent hearing/further proceedings of the Court.

Supreme Court modifies High Court’s Order by granting appropriate authority to issue fresh SCN

August 31, 2021 2049 Views 0 comment Print

State of Jharkhand & Ors. Vs Bihar Sponge Iron Ltd. (Supreme Court) Current appeal has been filed against the Order SLP(C)No. 14956 of 2020 dated October 23, 2019 by the Hon’ble Jharkhand HIgh Court (Jharkhand HC) which quashed the Show Cause Notice (SCN) on the grounds of it violating Section 70(5)(b)  of  Jharkhand Value Added […]

Disallowing finance charges, which were allowed in earlier years, needs re-consideration – Matter remanded back to AO

August 31, 2021 1113 Views 0 comment Print

Southern Hills Developers Pvt. Ltd. Vs DCIT (Karnataka High Court) Facts- The Assessing Officer during assessment proceedings noted that the assessee has shown sales on the basis of the recognition of revenue from a project which was jointly executed with a partner. The Assessing Officer opined that finance charges claimed by the assessee were not […]

DRI officers cannot issue show cause notices under Section 28(4) of Customs Act, 1962: SC

August 31, 2021 6969 Views 0 comment Print

Commissioner of Customs Vs Agarwal Metals And Alloys (Supreme Court) The present appeal has been filed by Commissioner of Customs, Kandla (Appellant) against the Order in Customs Appeal No. 11756 of 2019 dated February 13, 2020 by the Hon’ble CESTAT, Ahmedabad  which held that demands confirmed by the Appellant, confiscation of goods and penalties imposed […]

How to maximise your tax saving by choosing the right insurance policy for yourself & family?

August 31, 2021 3768 Views 0 comment Print

The point of getting insurance is that it is the highest form of assurance. Insurance is a binding agreement between the insurer and the insured that gives the insured access to the best form of care, depending on the policy purchased.

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