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Archive: 12 May 2022

Posts in 12 May 2022

Rajiv Kumar appointed as new Chief Election Commissioner

May 12, 2022 231 Views 0 comment Print

In pursuance of clause (2) of article 324 of the Constitution, the President is pleased to appoint Shri Rajiv Kumar as the Chief Election Commissioner with effect from the 15th May, 2022.

Treatment of the Expesnes of Non-Operative Mines/Plants

May 12, 2022 834 Views 0 comment Print

Explore the complexities of handling expenses for non-operative mines/plants. Dive into a case study on the absorption, reconciliation, and reporting of costs for temporarily or permanently closed mining operations. Navigate the challenges of maintaining accurate financial and cost statements.

Section 148 Notices: Steps to follow in cases impacted by SC decisions

May 12, 2022 6459 Views 0 comment Print

ITBA Step–by–Step Document No. 1 w.r.t. CBDT Instruction No. 1 of 2022Dated 12.05.2022 Steps to be followed in ITBA for the cases impacted by Hon’ble Supreme Court decision dated 04.05.2022 in the case of Union of India vs. Ashish Agarwal Dated 12.05.2022 NOTE: The AOs/ITBA users should refer to Instruction No. 1 of 2022 dated […]

TDS on Payment by E-Commerce Operator To E-Commerce Participant

May 12, 2022 9588 Views 1 comment Print

Demystify TDS on payments by E-Commerce Operators to participants with Section 194-O. Understand the nature, deductor responsibilities, time of deduction, rates, and exemptions. Stay compliant and navigate the complexities of E-Commerce transactions

Reassessment procedure for Section 148 notices after SC verdict

May 12, 2022 30312 Views 1 comment Print

Understanding the reassessment procedure for Section 148 notices after the Supreme Court’s verdict in Union of India Vs. Ashish Agrawal.

Availability of ITC – Conversion form Composition to Regular Scheme

May 12, 2022 25869 Views 0 comment Print

Understanding the implications of converting from the composition scheme to the regular scheme under GST. Learn about the availability of ITC and how it affects your tax payments.

DRI seizes 62 kg Heroin with estimated worth of Rs. 434 crore

May 12, 2022 534 Views 0 comment Print

DRI has unearthed yet another novel modus operandi and affected seizure of 62 kg Heroin on 10.05.2022 after interdicting an air cargo consignment. This is one of the biggest seizures of Heroin till date through courier/ cargo/ air passenger modes in India.

Discussion on Notice from Cost Audit Department

May 12, 2022 1677 Views 0 comment Print

Get insights into the provision and applicability of Cost Audit and Cost Auditor on Companies. Understand the reasons behind receiving a Notice from the Cost Department.

GST Returns Scrutiny Manual

May 12, 2022 50343 Views 2 comments Print

Haryana GST Returns Scrutiny Manual standardize and streamline the procedural aspect with regards to the scrutiny of GST returns as per section 61 of the HGST Act, 2017. GST Returns Scrutiny Manual also envisages the subsequent actions as per section 73/74 of the HGST Act, 2017 if needed to be undertaken, for demand and recovery. GST […]

Request to clarify on SC judgement on Section 148 notices

May 12, 2022 6864 Views 0 comment Print

Income Tax Gazetted Officers’ Association requested CBDT to issue Clarification in respect of the judgement of Hon’ble Supreme Court in the case of  Union of India Vs Ashish Agarwal ,Civil Appeal No. 3005/2022, Dated: 04/05/2022  in the matter of notices u/s 148 issued between 01-04-2021 to 30-06-2021 under the pre amended provisions Income Tax Gazetted Officers’ […]

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