The period for furnishing of the report under sub-section (4) of section 286 by the constituent entity referred to in that sub-section shall be twelve months from the end of the reporting accounting year:
1) These Regulations may be called the Foreign Exchange Management (Borrowing and Lending) Regulations, 2018. ii) They shall come into force from the date of their publication in the Official Gazette.
Goods and Services Tax Collections The month-wise gross collection of Central Goods and Services Tax (CGST), State Goods and Services Tax (SGST), Integrated Goods and Services Tax (IGST) and Cess for FY 2017-18 and FY 2018-19 are as under: Month GST collection (in Rs. Crore) 2017-18 2018-19 April — 1,03,459 May […]
The autonomy for the Central Bank, within the framework of the Reserve Bank of India (RBI) Act, is an essential and accepted governance requirement. The Government asked RBI for a review of its Economic Capital Framework (ECF) adopted in 2016.
E-Returns Filed by the Individual Tax Payers There has been a growth in the number of e-Returns filed by the individual tax payers during the last four years. The number of income-tax returns filed and the annual growth rate during the last four financial years are as under: Financial Number of Income Tax Returns Growth […]
Suspected GST Evasion amounting to Rs. 12766.85 has come to the light till the month of November, 2018. An amount of Rs. 7909.96 Cr. has been recovered during the period April 2018 to November 2018. The State-Wise details of detection of GST Evasion cases and recovery are as under:
Debit note, even though not specifically indicated in rule 9(1), is an eligible document for availing CENVAT credit since the same is allowed by higher courts.CENVAT credit cannot be disallowed simply due to the reason that the service tax amount is mentioned with pen and is not pre-printed.
It emerges that the above Trust was earlier approved under section 35(1}(ii} of the Act which expired on 31.03.2006. Thereafter ,this entity, being not recognized for purpose of section 35(1)(ii) of the Act, is not eligible to raise donations for undertaking scientific research however, the Trust has raised substantial donations over the last six years on the basis of a forged certificate while the donors have irregularly claimed weighted deduction u/s. 35(1)(ii) of the Act on donations made to the Trust.
M/s Honda Motorcycle & Scooter Vs CCE & ST (CESTAT Delhi) Conclusion: Cenvat credit is allowable on service tax paid on rent of infrastructural facilities as common facilities availed by assessee on rent basis were in ‘relation to the manufacture of goods’ and an integral part of the overall activity of manufacturing. . Held: In […]
Explore Amit Acharya’s case at ITAT Ahmedabad involving unexplained cash credit and disputed capital gains. Understand the key findings and decisions.
