Notification No. 12/2019 — Central Tax– Seeks to prescribe the due dates for furnishing of FORM GSTR-1 for those taxpayers with aggregate turnover of more than Rs. 1.5 crores for the months of April, May and June, 2019. Last Date for GSTR-1- The time limit for furnishing the details of outward supplies in FORM GSTR-1 […]
Notification No. 11/2019 – Central Tax– Seeks to prescribe the due dates for furnishing of FORM GSTR-1 for those taxpayers with aggregate turnover upto Rs. 1.5 crores for the months of April, May and June, 2019. Special procedure for Statement of outward supplies ( GSTR-1) for Small taxpayers-Time Period for filing GSTR-1 for Registered persons […]
Notification No. 10/2019-Central Tax dated 7th March, 2019 Threshold limit for registration (For those engaged in exclusive supply of goods Enhanced to Rs. 40 lacs – Except persons engaged in making intra-State supplies in the States of Arunachal Pradesh, Manipur, Meghalaya, Mizoram, Nagaland, Puducherry, Sikkim, Telangana, Tripura, Uttarakhand – Except persons required to take compulsory […]
Notification No. 2/2019-Central Tax (Rate) To give composition scheme for supplier of services with a tax rate of 6% having annual turn over in preceding year upto Rs 50 lakhs.
To give exemption from registration for any person engaged in exclusive supply of goods and whose aggregate turnover in the financial year does not exceed Rs 40 lakh vide Notification No. 2/2019- Union Territory Tax Dated 7th March, 2019. Government of India Ministry of Finance (Department of Revenue) Notification No. 2/2019- Union Territory Tax New […]
It has been noticed that there are several promotional schemes which are offered by taxable persons to increase sales volume and to attract new customers for their products. Some of these schemes have been examined and clarification on the aspects of taxability, valuation, availability or otherwise of Input Tax Credit in the hands of the supplier in relation to the said schemes are detailed hereunder:
CBIC notifies composition scheme for supplier of services with a tax rate of 6% having annual turn over in preceding year upto Rs 50 lakhs vide Notification No. 2/2019- Union Territory Tax (Rate) dated 7th March, 2019.
According to statistics by the Institute of Chartered Accountants of India (ICAI), over 50% of chartered accountants who were surveyed feel that technologies like big data and artificial intelligence are going to change the course of the profession in the coming years. However, one in every two also shared that the costs involved in procuring […]
Mere execution of power of attorney could not be considered to be transfer of property. For transfer of property, assessee had to enter into an agreement for sale either by himself or through power of attorney agent and also hand over the physical possession of the property as contemplated under Section 53A of Transfer of Property Act.
evisional order passed by the Principal Commissioner in case of Anil Kapoor Film Co. Pvt. Ltd was upheld as AO had not made enquiries/verification, to satisfy himself with respect to creditworthiness of the lender and genuineness of the transactions before framing the assessment.
