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Additional Income cannot be treated as undisclosed merely for admission during search

October 18, 2017 1653 Views 0 comment Print

Merely for the reason that the assessee had admitted additional income in the course of search for taxation, it cannot be said that such admitted income was undisclosed income within the meaning of ‘undisclosed income’ provided in Explanation to section 271AAA of the Act to impose the penalty.

GSTR-1: How to create & Submit Outward Supplies Return

October 18, 2017 8637 Views 0 comment Print

To create, submit and file details for the inward supplies in the GSTR-1, perform the following steps: 1. Login and Navigate to GSTR-1 page

List of audit cases for internal audit in ITBA (Audit module)- reg

October 18, 2017 1182 Views 0 comment Print

The list of audit able cases for the period 1st April to 31st August, 2017 of the current financial year has been made available in ITBA now. These cases are arranged in descending order of Audit Potential Index (API) in accordance with Board’s Instruction No. 6 of 2017 dated 21/07/2017. the CsIT. (Audit) will be able to view the list of audit able cases in the “List of Internal audit cases” screen of the Audit module.

GST Refund of deemed exports supply can be claimed by either recipient or supplier

October 18, 2017 11697 Views 1 comment Print

Provided also that in respect of supplies regarded as deemed exports, the application may be filed by, -(a) the recipient of deemed export supplies; or (b) the supplier of deemed export supplies in cases where the recipient does not avail of input tax credit on such supplies and furnishes an undertaking to the effect that the supplier may claim the refund

MGST: Evidences required to be produced by the supplier of deemed exports

October 18, 2017 702 Views 0 comment Print

Acknowledgment by the jurisdictional Tax officer of the Advance Authorization holder or Export Promotion Capital Goods Authoritative holder, as the case may be, that the said deemed export supplies have been received by the said Advance Authorization or Export Promotion Capital Goods Authorization holder, or a copy of the tax invoice under which such supplies have been made by the supplier, duly signed by the recipient Export Oriented Unit that said deemed export supplies have been received by it.

CIPAM-DIPP Launches Logo and Tagline Contest for Geographical Indications of India

October 18, 2017 507 Views 0 comment Print

The Cell for IPR Promotions & Management (CIPAM) under the aegis of the Department of Industrial Policy Promotion (DIPP), Ministry of Commerce and Industry, has launched a logo and tagline/slogan contest for Geographical Indications (GIs) of India on MyGov.in website.

MGST: List of supplier of Goods treated as deemed exports

October 18, 2017 1326 Views 0 comment Print

Government of Maharashtra, on the recommendations of the Council, hereby notifies the supplies of goods listed in column (2) of the Table below as deemed exports, namely :—

Rate of exchange of conversion of foreign currency WEF 19.10.2017

October 18, 2017 876 Views 0 comment Print

CBEC hereby determines rate of exchange of conversion of each of foreign currencies into Indian currency or vice versa with effect from 19th October, 2017

Procedure for insertion of New Director Name from back end

October 17, 2017 16743 Views 0 comment Print

Request letter signed by the Promoters/shareholders of the company explaining the facts and requesting for insertion of at least one director through back end of the MCA portal with the following attachments.

5 Recent FAQs on GSTR 3B, late fee for August 2017 & E-way bill

October 17, 2017 14802 Views 4 comments Print

Question 1: Do I still need to file other returns if I have filed GSTR- 3B? Answer: Yes Question 2. I was not able to file GSTR- 3B within the prescribed date. Can I do it now? Answer: Yes, but with payment of applicable interest and late fee. Late fee has been waived for the […]

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