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AAR not allowed to answer on place of supply

February 25, 2020 1380 Views 0 comment Print

In re Shalini Manish Mittal (GST AAR Maharashtra) Issue- Whether online or telephonic educational coaching from India for corporate, individuals or any other entities residing required outside India is subject to GST and if so under which category is it taxed and section/notification covered for the same Held- On perusal of the provision of section […]

BCAS Post- Budget Memorandum on Direct Tax Laws 2020-2021

February 25, 2020 4167 Views 1 comment Print

Introduction of the new tax regime under section 115 BAC of the Income Tax Act, 1961, with an objective to simplify the tax procedures, abolition of the Dividend Distribution Tax, Scope of Business Connection, Tax treatment of Provident Fund, Capital Gains etc.

Physical Submission of Audit Report in Form 704 for FY 2018-19

February 24, 2020 6291 Views 0 comment Print

The last date for electronic uploading of form e-704, for the financial year 2018-19, is 28th February, 2020 and the last date for submission of above documents is 09th March, 2020.

HC rejects Bail application of alleged GST evader accused of running bogus business

February 23, 2020 2019 Views 0 comment Print

It has come on record that the applicant’s firm was found indulging in running business from bogus address and a huge transaction is shown to have been done without there is any such big transaction reflected from the account of the firm.

Transportation of goods to and from India through a foreign Territory

February 21, 2020 3033 Views 0 comment Print

The transportation of goods from one part of India to another through a foreign territory was hitherto covered by the Transportation of Goods (Through Foreign Territory) Regulations, 1965. Such movements were however uncommon and the regulations were not effectively used due to absence of bilateral arrangements with neighbouring countries.

Solve GST problems faced by Trade, Industry & Tax Professionals- Request to FM

February 21, 2020 2382 Views 0 comment Print

Association Of Tax Practitioners,  Ernakulam has made a representation on GST problems faced by Trade and Industry and Tax Professionals. They raised the issues which includes the following- 1. Unable to login due to site showing capacity of 150000 already logged in at all the times. 2. Unable to save data to portal and site […]

Risk Vs Uncertainty: Supervision, Governance & Skin-in-the-Game

February 21, 2020 1017 Views 0 comment Print

The concept of Risk is distinct from the concept of Uncertainty. The former relates to that which can be predicted, measured or quantified whereas the latter relates to ‘unknown unknowns’ and ‘known unknowables’ where outcomes and probability distributions cannot be meaningfully defined.

TMA- Hard copy of applications for claiming assistance allowed

February 21, 2020 879 Views 0 comment Print

One-time relaxation for submission of hard copy of applications for claiming assistance under ‘Transport and Marketing Assistance (TMA) for Specified Agriculture Products’ Scheme.

Sunset Review of Anti-Dumping Investigation concerning imports of ‘Sheet Glass’

February 21, 2020 3603 Views 0 comment Print

Sunset Review of Anti-Dumping Investigation concerning imports of ‘Sheet Glass’ originating in or exported from People’s Republic of China.

IGST: CBIC notifies rate of GST on supply of lottery

February 21, 2020 960 Views 0 comment Print

Seeks to amend notification No. 1/2017- Integrated Tax (Rate) dated 28.06.2017 so as to notify rate of GST on supply of lottery. GOVERNMENT OF INDIA MINISTRY OF FINANCE (Department of Revenue) Notification No. 1/2020-Integrated Tax (Rate) New Delhi, the 21st February, 2020 G.S.R. 135(E).– In exercise of the powers conferred by sub-section (1) of section […]

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