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Reference to DVO is mandatory for invoking Section 50C (2 )

December 29, 2017 6876 Views 0 comment Print

Impugned addition u/s.50C(2) of the Act mandates reference to DVO in case an assessee contests the jantri price in question to be higher than fair market value of the relevant capital asset.

Go Live of MAHAGST Website on 26-12-2017

December 29, 2017 9762 Views 1 comment Print

The Maharashtra GST Department (MGSTD) has been providing various electronic services and other related information to the taxpayers and the other stakeholders through its website mahavatgov.in.

Export Policy of Onions- Imposition of Minimum Export Price (MEP)

December 29, 2017 885 Views 0 comment Print

Export of all varieties of onions as described above will be allowed only on Letter of Credit (LC) subject to a Minimum Export Price (MEP) of US$ 850 F.O.B. per Metric Ton till 20.01.2018.

Addition for Unutilized Cenvat Credit in absence of income element is ubjustified

December 29, 2017 1596 Views 0 comment Print

Ahmedabad bench of Income Tax Appellate Tribunal (ITAT) comprising of Judicial Member S.S.Godara and Accountant Member Pramod Kumar has deleted the addition under the Income Tax Act in respect of unutilized CENVAT credit.

Notification No. 21/2017-Customs (N.T./CAA/DRI), Dated: 29.12.2017

December 29, 2017 1083 Views 0 comment Print

Notification No. 21/2017-Customs (N.T./CAA/DRI) In pursuance of notification No. 60/2015-Customs (N.T.), published vide G.S.R. 453(E), dated 4th June, 2015 in Gazette of India, Extraordinary, Part-II, section 3, sub-section (i), and as amended by notification No. 133/2015-Customs (N.T.), published vide number G.S.R. 916(E), dated 30th November, 2015

Notification No. 20/2017-Customs (N.T./CAA/DRI), Dated: 29.12.2017

December 29, 2017 966 Views 0 comment Print

Notification No. 20/2017-Customs (N.T./CAA/DRI) In pursuance of notification No. 60/2015-Customs (N.T.), published vide number G.S.R. 453(E), dated 4th June, 2015 in Gazette of India, Extraordinary, Part II, section 3, sub-section (i), and as amended by notification No. 133/2015-Customs (N.T.), published vide number G.S.R. 916(E), dated 30th November, 2015 in Gazette of India

TRAN-01 & Table 6A of Form GSTR-1 disabled wef 28.12.2017

December 28, 2017 8925 Views 5 comments Print

As per information received from GSTN, It is informed that links related to following forms, have been disabled on GST Portal w.e.f. 28.12.2017

25 New FAQs on GST replied by GOI on 28.12.2017

December 28, 2017 19620 Views 1 comment Print

Registered as Composition dealer in UP VAT & Now as Regular in GST regism, how to claim LTC on TAX PAID stock in hand as on appointed date.

MS Office software License Purchase Expense is Revenue Expense

December 28, 2017 20721 Views 0 comment Print

It is not in dispute that the assessee purchased MS Office software and used the same in its business. By purchasing MS Office software, the assessee has not become owner of the software. The ownership of MS Office software remained with Microsoft company.

Exposure Draft of Preface to Framework & Standards on Internal Audit

December 28, 2017 1077 Views 0 comment Print

EXPOSURE DRAFT PREFACE TO THE FRAMEWORK AND STANDARDS ON INTERNAL AUDIT* (Last date for comments- January 17, 2018) The Internal Audit Standards Board of The Institute of Chartered Accountants of India (ICAI) invites comments on proposed revision to the Preface to the Framework and Standards on Internal Audit. Comments are most helpful if they indicate […]

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