After considering the Instruction of Gujarat High Court in the case of All India Gujarat Federation of Tax Consultants Vs. Union of India CBDT has rejected the request for further extension of due dates for filing of Audit Report under section 44AB of the Income tax Act . CBDT said that The clue dates for […]
You’ve likely heard that investing is an excellent way to grow your wealth, get out of debt and even build your savings. The problem, however, is determining which type of investing route you take. For many, trading is a style of investment that is quite intriguing. Rather than simply buying a stock and holding it […]
Fourteenth Amendment to CGST Rule, 2020 The CBIC has issued Notification 94/2020-Central Tax on 22.12.2020 whereby the CGST Rules, 2017 were further amended vide Fourteenth Amendment. This brings in many changes in provisions of GST Registration, Cancellation, Provisional ITC claim, GSTR-1 blocking, E-way bill validity, etc, which are briefly summarized below: Aadhaar authentication for Registration […]
A. e-TDS/TCS RPU version 3.5 for Statement(s) from FY 2007-08 onwards is released (01/01/2021). Key Features – Return Preparation Utility (RPU) version 3.5 1. Addition of Section code 1940 for Form 26Q:- 1940 – TDS on e-Commerce transactions This section will be applicable for regular and correction statements pertaining to FY 2020-21 for quarter 3 […]
Present writ petition has been filed seeking a declaration that Sections 69 and 132 of the CGST Act, 2017 are arbitrary, unreasonable and being beyond the legislative competence of the Parliament are ultra vires the Constitution. Held by High COurt This Court has refused to pass any interim order holding that it is not inclined […]
ICAI request FM to consider further extension(s) of various due dates under Income-tax Act, 1961 especially Tax Audit Reports (TAR) and related returns and Income Tax Return (ITR) Forms for AY 2020-21. text of their representation is as follows:- ICAI/DTC/2020-21/Rep-31 To Chairman, Central Board of Direct Taxes, Ministry of Finance, Government of India, North Block, […]
Kunal Bahl Vs State of Karnataka (Karnataka High Court) In E-commerce transactions the jurisdiction to try offences will lie with a Court where the accused has its Head Office, Branch Office or other offices. 1. The order of Cognisance dated 8.6.2020 is not in compliance with the requirement of Section 191(1)( a) of the Cr.P.C […]
Invoice Furnishing Facility (IFF) is a facility provided to quarterly taxpayers to file their details of outward supplies in first two months of the quarter. Article contains FAQs on How to Furnish Documents in Invoice Furnishing Facility (IFF) under QRMP Scheme & Manual on Furnishing Documents in Invoice Furnishing Facility (IFF) under QRMP Scheme. A. […]
We are happy to inform you that while continuously working towards new initiatives for promotion of professional services across the globe, the Committee has achieved a new milestone by launching a new publication – ‘Accounting Process Outsourcing’ – An Insight on Major Economies at the Virtual International Conference held from 17th December 2020 to 19th December 2020
Provisions of erstwhile section 14AA of the Central Excise Act, 1944, Section 72 of the Finance Act, 1994 and current Section 66 of the Central Goods and Service Tax Act, 2017 provides for conduct of special audit of registered persons under Central Excise, Service Tax and GST Laws by practicing-Chartered Accountants or Cost Accountants.
