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Clean Transactions, Cleaner Economy, Go Cashless, Go Clean

March 1, 2019 1503 Views 0 comment Print

DON’T √ Accept cash of Rs.  2,00,000 or more in aggregate from a single person in a day or for one or more transactions relating to one event or occasion. √ Receive or repay Rs.  20,000 or more in cash for transfer of Immovable Property. √ Pay more than Rs.  10,000 in cash relating to […]

Suo motu contempt proceeding against CIT / PCIT refund ‘Army Officer’ not granted within 30 days: HC

February 28, 2019 2616 Views 0 comment Print

Respondent CIT/PCIT directed to refund the entire amount of income tax they have recovered, which was an exempted amount and which the petitioner Army Officer has paid in respect of his disability pension.

AAAR members differ on classification of tea bag manufacturing service

February 28, 2019 810 Views 0 comment Print

In re Joint Commissioner (in-situ), Ballygunge Division, Kolkata South CGST & CX Commissionerate (GST AAAR West Bengal) What should be the classification of tea bag manufacturing service. As the members of the West Bengal Appellate Authority for Advance ruling differ on the classification of the service supplied by the Respondent to M/s Hindusthan Unilever Ltd.. […]

Panel to overhaul Direct Tax law seeks 3 months extension

February 28, 2019 1197 Views 0 comment Print

The term of the Task Force is extended by three months, i.e., the Task Force shall now be required to submit its report by 31 .05.2019.

Link your PAN with your Bank Account- No Refund if A/c not linked

February 28, 2019 27126 Views 5 comments Print

Link your PAN with your Bank Account… Get your refund directly, swiftly and securely in your bank account Income Tax Department will Issue only e-refunds from 01.03.2019 Refunds will be given only to bank accounts (savings/current/cash/OD) which are linked with PAN. To check if your bank account is linked with your PAN, login to e-filing portal, go […]

NAA found builder Guilty of profiteering for not passing ITC benefit

February 27, 2019 1527 Views 1 comment Print

Shri Ashok Khatri Vs M/s S3 Infra Reality Pvt Ltd (NAA) From the documents placed on record and the DGAP’s report it is evident that the Respondent has sold 780 units out of 816 residential units, out of which for 29 units there was no consideration paid after introduction of GST, hence the profiteered amount […]

Unconscionability As A Ground To Avoid Agreement

February 27, 2019 14511 Views 0 comment Print

There are various grounds for avoiding an Agreement like Ambiguity, conflicting terms, vague timeline etc. Unconscionability is one such ground on which an agreement can be avoided. Unconscionable contracts are those contracts which are heavily inclined towards one party and impose unfair, harsh conditions on the other party.

CBDT Revises Corporate Tax collection Targets for FY 2018-19

February 27, 2019 927 Views 0 comment Print

Revision of the target for collection of Corporation Tax from Rs.6,21,000 Crore to Rs. 6,71,000 Crore under Revised Estimates (RE), the region-wise revised targets for Corporation Tax fixed on the basis of current trends of growth and revenue potential of the regions, are as under: –

Sea Cargo Manifest and Transhipment (Amendment) Regulations, 2019

February 27, 2019 4074 Views 0 comment Print

These regulations may be called the Sea Cargo Manifest and Transhipment (Amendment) Regulations, 2019. They shall come into force on the date of their publication in the Official Gazette.

Advance Ruling and Appeal Mechanism in GST Law for Maharashtra

February 27, 2019 2835 Views 0 comment Print

Ref:- The Central Goods and Services Tax Act, 2017 The Integrated Goods and Services Tax, 2017 The Goods and Services Tax (Compensation to States) Act, 2017 The Maharashtra Goods and Services Tax Act, 2017 Introduction to Advance Ruling and Appeal Mechanism in GST Law for Maharashtra: An Advance Ruling helps the applicant in planning his […]

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