In the wake of steep rising cases of COVID in the State of Maharashtra here is no doubt that citizens should be protected from corona virus. But the most pertinent question arises whether total lockdown of trade and business is the only and practical solution to curb increasing cases of Covid pandemic.
We are of the opinion that this step of Maharashtra Government may be followed by other States independently which may hamper the trade to a great extent because large quantities of trade is based on inter-state transactions and different rules in different states will cripple the economy and the trade particularly the inter-state and intra-state trade. We estimate a business loss of about Rs. One lakh crore in a month in Maharashtra.
New Functionalities made available for Taxpayers on GST Portal in March, 2021 1 – Registration 1. Assignment of new applications of registration, in certain cases, with same PAN and in same State/ UT New registration applications of the applicants, whose previous application for registration were either rejected by Tax Officer or whose GSTIN was cancelled […]
In addition to other functions, Turant Suvidha Kendra (TSK) at Nhava Sheva will act as Facilitation Helpdesk for any grievance related to clearances of the B/E filed in the port.
COMMISSIONER OF INCOME TAX (CIT) V. Mrs. ANNAMMA ALEXANDER AND Ors. Decided by the High Court of Kerala. CITATION: 1991 191 ITR 551 Ker 13 March, 1991 FACTS OF THE CASE: Mrs. Annamma Alexander is the original assessee in this case who is the legal heir of late Mr. Alexander. After the death of Mrs. […]
What is e-invoicing? ‘e-invoicing’ means the invoice shall be prepared after obtaining an Invoice Reference Number (IRN) by uploading specified particulars (in FORM GST INV-01) on the notified Invoice Registration Portals (IRP).
Auto-population of e-invoice details into GSTR-1 1. For the month of March, 2021, the auto-population of e-invoices into GSTR-1 (of March, 2021) is still in progress and is likely to take some more time. Hence, notified taxpayers who are reporting e-invoices, are hereby advised not to wait for the complete auto-population, and instead proceed with […]
Sh. Mukesh Mittal Vs ITO (ITAT Delhi) The assessment order clearly shows that the AO has merely reproduced the modus operandi of the entry providers who booked bogus long term capital gains through penny stock companies. The show cause notice dated 2.12.2016 issued by the AO during the assessment proceedings and the findings of the […]
The Special Judge for CBI cases, Delhi has sentenced S/Sh Ashutosh Verma then Deputy Director (Investigation) Income Tax, Delhi; Suresh Nanda (private person) and Bipin Shah (Chartered Accountant), all to undergo one year Rigorous Imprisonment with fine of Rs. one lakh each in a CBI case.
In re Bharat Earth Movers Limited (GST AAR Karnataka) Whether the supplies made by Cost Centres C,D, E and G are independent supplies of goods and services (as applicable) or composite supply with principal supply of goods? The supplies made by the applicant under Cost Centres C, D, E and G form a composite supply […]
