This Act may be called the Goods and Services Tax (Compensation to States) Amendment Act, 2017. (2) It shall be deemed to have come into force on the 2nd day of September, 2017.
Can a manufacturer who was not registered in excise take credit of goods on which he doesn’t have duty paying documents i.e. Can he take deemed transitional credit?
Commission records admonition for illegally insisting on Aadhar Card etc. to prove citizenship, identity and address, and also demanding proof of citizenship. Denial of information for lack of Aadhaar card will be a serious breach of right, which was guaranteed by the RTI Act
Sri Sachindra Nath Kayal Vs. ITO (ITAT Kolkata) It undisputed fact that assessee has earned LTCG which was not offered to tax. It is also undisputed that the disclosure of the same made in balance-sheet of the assessee. Thus, we note that non- offering of LTCG to the tax was not deliberate. It was out […]
Reference is invited to various meetings held with DFS and APY-SP with reference to Aadhaar seeding and authentication in Atal Pension Yojana Accounts. The latest meeting was held as on 28-11-2017 wherein officials of Punjab National Bank, Punjab and Sind Bank. Bank of Baroda and Oriental Bank of Commerce had participated.
The Income Tax Appellate Tribunal in its recent order ruled that no additions can be made since interest has accrued to the assessee but has not been realized.
Article explains Process flow and steps involved for Updating Mobile Number & Email of Authorized Signatory on GST portal www.gst.gov.in of Registered Taxpayer.
Where the assessee had earned interest on advance paid to contractors during pre- commencement period was found to be ‘inextricably linked’ to the setting up of the plant of the assessee and hence was held to be a capital receipt which was permitted to be set off against pre- operative expenses.
Law on how revenue should be recognized by a developer of property under the percentage completion method in the light of Accounting Standards AS-1, AS-7 & AS-9, the Guidance Note on Accounting for Real Estate Transactions issued by the ICAI and several judgements on the issue explained
A.O. disallowed the payment of commission made by the assessee to the above said two doctors namely (i) Dr. Ramanbhai S. Patel Rs. 17,52,130/- and (ii) Dr. Ratilal G. Patel Rs. 23,87,001/- totaling to Rs. 41,39,131/- and added to the total income u/s. 37(1) of the Act.
