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Archive: 06 May 2023

Posts in 06 May 2023

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

May 15, 2024 6285 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.

Live Course on How to Reply to GST Notices & SCN & to Fake ITC Notices? – Last day to Register

May 15, 2024 19308 Views 0 comment Print

Join our live course to learn expert strategies for replying to GST notices, SCNs, and fake ITC notices. Understand litigation nuances, evidence insights, and practical tips for effective responses. Register now!

Who is required to file Income Tax Return (ITR)

May 6, 2023 57099 Views 2 comments Print

Discover who is required to file an Income Tax Return (ITR) and the mandatory criteria. Learn about the advantages of filing ITR, the due date, and the importance of compliance for various financial activities. Avoid late fees, tax notices, and ensure eligibility for loans, credit cards, and other financial transactions.

Benefit of Section 80 of TNGST not available in case tax dues are not paid

May 6, 2023 1623 Views 0 comment Print

Madras High Court held that the object of Section 80 of the Tamil Nadu Goods and Services Tax Act, 2017 (TNGST) is only to benefit an assessee who has been complaint in effecting payment of the admitted tax. Benefit of section 80 not available in case of amount due as per the liability self-assessed in any return.

Section 40A(3) not applies to cash payments deposited in bank account of payee

May 6, 2023 9840 Views 0 comment Print

ITAT Kolkata held that provisions of section 40A(3) of the Income Tax Act doesn’t apply to cash payments when ultimately the amount is deposited in the bank account of the payee.

Cryptogenic Device/Token’ (ProxKey & ProxKey PRO) fall under Tariff entry 8471 80 00

May 6, 2023 1038 Views 0 comment Print

In re Pagaria Infotech Ventures LLP (CAAR Mumbai) M/s. Pagaria Infotech Ventures LLP (hereinafter referred to as ‘the applicant’, in short) filed an application for advance ruling before the Customs Authority for Advance Rulings, Mumbai (CAAR, in short). The said application was received in the secretariat of the CAAR, Mumbai on 26.12.2022, along with its […]

MSME scenario in India

May 6, 2023 1509 Views 1 comment Print

Explore the MSME scenario in India with insights on employment, exports, and financing trends. Learn about the digitization impact, cross-border financing, and ECGC services for exporters. Gain valuable insights into the evolving MSME landscape.

Statutory Audit of Banks

May 6, 2023 15243 Views 2 comments Print

Explore the importance of Statutory Audit in the banking sector, covering risk-based internal audits, statutory auditors roles, and the audit process for advances, revenue items, expenses, and provisions. Ensure transparency and compliance for a healthy financial system.

Mistake of Department in generating e-way bill – HC grants stay till next date of hearing

May 6, 2023 1137 Views 0 comment Print

Vectus Industries Limited Vs Chif Commissioner (Rajasthan High Court) Heard Mr. Pankaj Ghiya, learned counsel appearing for the petitioner, Mr. M.S. Singhvi, learned Advocate General for the State Authorities and Mr. R.D. Rastogi, Additional Solicitor General appearing for Union of India upon whom the copy of the writ petition was served on the direction of […]

GSTAT not functional: Rajasthan HC grants stay on GST demand subject to payment of 20% tax

May 6, 2023 2985 Views 0 comment Print

The submission of learned counsel for the petitioner is that while filing the appeal, the petitioner had already deposited 10% of the disputed tax amount and that in view of Section 112 of the RGST Act, if he deposits further 10% of the disputed tax amount while filing the appeal before the appellate authority i.e. the tribunal, the depositing of remaining amount shall stand automatically stayed.

ICAI President’s Message – May 2023

May 6, 2023 1365 Views 0 comment Print

Dear Professional Colleagues, As, I reflect over the recent developments and emerging trends shaping the future of the profession, I understand that one of our profession’s main premise is about building better future and supporting economic progress of society. As professionals, our role is to facilitate the development of society by effectively linking various aspects […]

Linkage of Section 44AA, 44AD, 44ADA and 44AB

May 6, 2023 12294 Views 0 comment Print

Understand the linkage between Sections 44AA, 44AD, 44ADA, and 44AB in the Income Tax Act. Explore the distinctions, turnover criteria, and compliance requirements for businesses and professionals. Stay informed to ensure proper compliance with tax regulations.

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