"14 October 2021" Archive

Over 2 crore Income Tax Returns filed on e-Filing portal

Over 2 crore Income Tax Returns filed on the e-Filing portal of the Income Tax Department The e-filing portal of the Income Tax Department (www.incometax.gov.in) has marked receipt of more than 2 crore Income Tax returns as on 13th October 2021. The new portal was launched on 7th June, 2021 and in the initial period taxpayers had re...

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Posted Under: Income Tax | ,

Delhi GST Commissioner authorises Senior & Junior Assistant to carry out physical verification of business

F. 111/573/DT&T/ESH/GSTI/2021 14/10/2021

Commission, GST confer upon Senior Assistant and Junior Assistant, working in the Department of Trade and Taxes, the power to undertake physical verification of the place of business of a person before the grant of registration or due to any other reason after the grant of registration, as assigned by the Proper Officer....

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SEZ entitled to refund under GST

Platinum Holdings Pvt. Ltd. v. Additional Commissioner of (GST Madras High Court)

Section 54 of the CGST Act to 'any person' and would include the SEZ as well and accordingly, it shall be entitled to claim the refund of erroneously remitted tax....

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Depreciation allowable on home-theatre used for business purpose

DCIT Vs Tally Solutions Pvt. Ltd. (ITAT Bangalore)

Claim of depreciation on the home-theatre used for the business purpose is allowable in law - In absence of nexus between the borrowed funds and outstanding amount of the sister-concern, addition is not sustainable....

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E-way Bill not necessary for transporting personal effects including motor vehicles

Hon’ble Kerala High Court in the current application observed that the motor vehicle was detained only on the ground of not having E-way Bill. Under Rule 138(14)(a) of the KGST Rules the goods classifiable as used, personal and household effect are exempted from the requirement of E-way Bill....

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Posted Under: Income Tax |

Whether deposits made to GST E-Cash Ledger can be considered as discharge of liability?

Please refer to the case, Excise Appeal No.50646 of 2020 [SM] by the appellant, M/s. WMW Metal Fabrics Limited, requested the refund of the amount deposited in the PLA account which was not utilised to discharge the liability under the erstwhile Excise Act, the refund was denied as the time limit for the request to […]...

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Posted Under: Income Tax |

GST effect on Residential Properties

Even after these years of GST, there is lot of scope of improvement in the GST regime. Though, the Government is introducing various amendments from time to time. Even then, the Government has yet to deal with the issues and implications. On the other hand, GST has also simplified the complexities of previous tax era. […]...

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Posted Under: Income Tax |

Verification of Marks of CS Examination- June, 2021

ICSI: The on-line facility for applying for Verification of Marks will be operative from Thursday, the 14th October, 2021 from 00:01 hrs till Wednesday, the 3rd November, 2021 up to 24:00 hrs....

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Posted Under: Income Tax |

ICSI- Procedure for Marks Verification & Inspection/Supply of Answer Books

ATTENTION STUDENTS! PROVIDING INSPECTION OR SUPPLY OF CERTIFIED COPY (IES) OF ANSWER BOOK(S) OF CS EXAMINATIONS – JUNE, 2021 The Institute has been providing the facility of Inspection or Supply of Certified Copies of Answer Book(s) to the candidates on their request as per Guidelines, Rules and Procedures framed by the Institute in thi...

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Posted Under: Income Tax |

ICSI Enrolment Guidelines for December, 2021 Examination

Foundation Programme Examination for December, 2021 Session will be held on 3rd and 4th January, 2022 in anywhere mode through remote proctoring. For detailed time table please refer website of the Institute www.icsi.edu...

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Posted Under: Income Tax |

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