♦ Notification No. 35/2021 – Central Tax has been issued by the CBIC notifying Central Goods and Services Tax (Eight Amendment) Rules, 2021. A brief summary of it is as under: ♦ With effect from a date to be notified, Rule 10A has been amended to prescribe that the bank details which is required to […]
Dear Readers, Kindly note that for below matters related to F Y 2020-21, the due date for filing the applicable GSTR of the September 2021 month, will be the last date to make any changes: Issue No. 1: Omission / change / mistake in your outward supply details (i.e. Sales Invoice / Credit Note / […]
Avoid common mistakes in filing your income tax return. Learn about the incomes that are often overlooked but should be included for accurate tax filing.
ITAT find that order u/s 263 passed by PCIT dwelled into the issue of re-computation of capital gains which is beyond the mandate of limited scrutiny issued by CBDT. Hence, directions of PCIT are beyond selection criteria of scope of scrutiny for instant year cannot be held to be legally valid.
CBIC has notified CGST (Eighth Amendment) Rules, 2021 to amend the existing CGST Rules, 2017, which shall come into force as on the date of its publication in the Official Gazette (except provided otherwise).
Income Tax Department carried out search and seizure operations on 23.09.2021 on two private Syndicate Financing groups based in Chennai. The search operation was carried out at 35 premises located in Chennai.
The primary analysis of data reveals that the assessee has made unaccounted purchase and sale of small polished diamonds of about Rs. 518 crore over the period.
Financial Year 2020-21 was a year of turmoil and total disruption of normal business for the Indian corporate and business world. While the first few months saw a complete standstill of business, the revival over the next few months was fast considering the damage caused in initial months. The Government of India, in order to […]
Bharat Electronics Limited Vs Commissioner of GST & Central Excise (Madras High Court) Section 120A grants only one opportunity to the petitioner to rectify the Form TRAN-1 and there is, in my view, no basis for such restriction. In this case, the last dates for filing of TRAN-1, and seeking revision of the same are […]
In the present case, the error is seen to be inadvertent, constituting a human error. The Revenue does not dispute this either. Moreover, the era of GST is nascent and I am of the view that a rigid view should not be taken in procedural matters such as the present one.
