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Archive: 03 January 2023

Posts in 03 January 2023

Mismatch between GSTR 3B & GSTR 2A – HC permits filing of appeal beyond statutory time period

January 3, 2023 6222 Views 0 comment Print

The issue concerns the year 2019-2020. There was a mismatch between GSTR 3B and GSTR 2A. This was due to non filing of the returns by the suppliers of the goods. He purchased the goods during the period of 2019-20 from various suppliers to be used in its projects and the suppliers issued invoices bearing GGST and CGST Act. He made payments through the bank of those invoices.

Alleged GST Evasion: Rajasthan HC grants bail to accused

January 3, 2023 1281 Views 0 comment Print

It is contended by learned counsel for the petitioner that he has falsely been implicated in this case. Learned counsel submitted that there has been violation of mandatory provisions while effecting his arrest and its continuation as contained in the Act of 2017.

Matter not to be remanded back when all the materials on record are available

January 3, 2023 2886 Views 0 comment Print

HC set aside order passed by Commercial Tax Tribunal remanding the matter to the Assessing officer. Held that, the Tribunal was incorrect in remanding back the matter, when all the material was before it thus, it should have dealt with each of the material and decided the same.

Cancellation of registration without providing opportunity of hearing is cryptic in nature

January 3, 2023 1029 Views 0 comment Print

HC held that SCN and order for cancellation of GST Registration is not sustainable on the grounds that the order was passed without any personal hearing and thus, cryptic in nature. Further directed the Revenue Department to restore the GST registration of assessee.

TDS on Purchase/Sale of Residential Flat

January 3, 2023 71175 Views 7 comments Print

Navigate the tax landscape of residential flat transactions with insights into TDS implications on purchase and sale. Understand the intricacies, compliance procedures, and consequences of non-deduction. Stay informed about GST on under constructed flats and make informed decisions.

CBDT circulars/ instructions are binding on revenue

January 3, 2023 3888 Views 0 comment Print

ITAT Hyderabad held that CIT(A)/ NFAC failed to consider circular no. F.173/193/2019-ITA-1 dated 23.04.2019 and subsequent circular No.2/2020 vide F.No.197/55/2018-ITA-I dated 03.01.2020 which are issued by CBDT and the same is binding on the revenue authorities. Accordingly, matter restored.

Types of Companies under Companies Act, 2013 in India

January 3, 2023 22650 Views 0 comment Print

The term company does not have a purely technical or legal definition. It could be said to signify a grouping of people who share a common object or objects. People may associate themselves for a wide range of goals, including both materialistic and immaterial ones.

Introduction of IRRA Platform

January 3, 2023 1503 Views 0 comment Print

SEBI in its circular dated 30th December, 2022 introduced Investor Risk Reduction Access (IRRA) platform for the protection of interest of investors and to avoid   disruption of trading services provided by the Trading Member (TM).

Impressive Transformation of India’s Economy

January 3, 2023 1932 Views 0 comment Print

The Indian economy has achieved impressive growth & transformation over the years. Learn how this is preparing it for its $5 trillion goal by 2025. Keyphrase: Impressive Transformation of India’s Economy

Input Tax Credit Mismatch Now Solved

January 3, 2023 6882 Views 0 comment Print

Find out how the Commissioner CBICs Circular No. 183/15/2022-GST solved the Input Tax Credit Mismatch between GSTR1 & 2A for 2017-18 & 2018-19. Learn more!

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