About 91% of eligible large Taxpayers filed Annual GST Return and 92% eligible large taxpayers filed the Reconciliation Statement (GSTR-9C) by 12th Feb 2020 – 91.3% of eligible large taxpayers filed annual return (GSTR-9) by 12th Feb 2020. – 92.3% filed reconciliation statement (GSTR-9C) by 12th Feb 2020. -Total 42.03 Lakhs regular taxpayers filed GSTR-9 […]
CBIC has issued a Series of Tweet on 15th February 2020 and justified interest calculation on delayed GST payment on the basis of gross tax liability. Excerpt of Tweets is as follows:- There are some discussions in social media w.r.t. interest calculation on delayed GST payments post a few media reports regarding Rs. 46000 Cr […]
Since unutilized credit in the MODVAT scheme without incurring the liability could not be treated as sum actually paid by assessee under section 43B hence the unutilized credit under MODVAT scheme did not qualify for a deduction.
When a retiring partner took only money towards the value of his share on retirement and when there was no distribution of capital asset/ assets going to the partners, there was no transfer of capital asset and consequently no profits or gains was chargeable u/s. 45 (4).
Commissioner of Central Excise And Service Tax Vs Pipavav Shipyard Limited (Gujarat High Court) Conclusion: Fabrication of various cranes which were embedded to earth could be treated as excisable goods within the meaning of Capital Goods defined in Cenvat Credit Rules, 2004 and the Cenvat Credit availed of Inputs/Capital Goods like HR Plates, MS Flats, […]
The Institute of Chartered Accountants of India (ICAI) elected its new President CA. Atul Kumar Gupta & Vice-President CA. Nihar Niranjan Jambusaria on February 12, 2020. The new President & Vice-President addressed the media & interacted with them on February 13, 2020 at New Delhi. During the interaction, the President shared the following initiatives undertaken […]
Aditya Gupta Vs. Union of India (Rajasthan High Court, Jaipur Bench) Petitioner has filed this petition under Section 439 Code of Criminal Procedure, 1973 seeking regular bail in File No. DGGI/JZU/INU/GST/02/18-19 filed by the Directorate General of GST Intelligence, Jaipur Zonal Unit for offences under Sections 132(1), (b), (c), (f), (h), (j) and (k) read […]
In order to further increase digital collection of user fee via FASTag at NH fee plazas, National Highways Authority of India (NHAI) has decided to waive off the FASTag cost of Rs.100/- for NHAI FASTag between 15th and 29th February, 2020. Road users can visit any authorised physical point-of-sale locations with a valid Registration Certificate […]
Facts related to filing of Annual Return (GSTR-9 & 9C) for the year 2017-18 (Status as on 12th Feb 2020) Category No. of Taxpayers % age Taxpayers who are mandated to file GSTR-9 12.42 lakhs -‑ Out of 12.42 lakhs, taxpayers who have filed GSTR-3B & GSTR 1 9.98 lakhs 80.3% Out of 9.98 lakhs, […]
ICAI elects New Torchbearers – CA. Atul Kumar Gupta elected as President, & CA. Nihar Niranjan Jambusaria as Vice-President of ICAI for the year 2020-21. CA. Atul Kumar Gupta, President ICAI- 2020-21 A man with astute intellect and quick understanding and sharp vision, CA. Atul Kumar Gupta has been elected as President of The Institute […]
