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HC allows to pay GST (Inclusive of Interest & Late Fees) in instalments

October 12, 2020 4722 Views 0 comment Print

Malayalam Motors Pvt. Ltd. Vs Assistant State Tax Officer (Kerala High Court) The High court of Kerala permitted the petitioner to discharge the tax liability, inclusive of any interest and late fee thereon, in equal successive monthly installments. Please note Section 80 of the CGST Act, 2017 allows payment of tax due (other than the […]

GST Portal – 41 Common Errors & Suggested Solutions

October 10, 2020 330411 Views 17 comments Print

Dear Taxpayer, below is a useful compilation of common issues reported on GST portal and suggested solutions. You can search errors based on module/form. You may like to check these before approaching Help Desk. S. No. Error Code Error Category / Form Error Message Why this error comes? Suggested Solution 1 404- No documents found […]

Blocking of E-Way Bill generation facility after 15.10.2020

October 10, 2020 19209 Views 0 comment Print

1. In terms of Rule 138 E (b) of the CGST Rules, 2017, the E Way Bill generation facility of a person is liable to be restricted, in case the person fails to file their GSTR-3B returns, for a consecutive period of two months or more.

FAQs on SEBI (PIT) Regulations 2015

October 10, 2020 4632 Views 0 comment Print

Whether requirement of pre-clearance is applicable for exercise of employee stock options? Whether trading in ADRs and GDRs by employees of Indian companies who are foreign nationals is covered under provisions of PIT Regulations on code of conduct?

Undue Favour To Plaintiffs’: HC Seeks Explanation From District Judge

October 9, 2020 1578 Views 0 comment Print

State Bank of India Vs Neeraj Saluja and others (Punjab And Haryana High Court) High Court held that  It is not understandable as to why the District Judge/Appellate Court is adjourning the appeal despite the fact that the suit stands dismissed for non-prosecution on 29.11.2019 and the plaintiffs on both counts are seeking adjournments and […]

DGGI busts companies claiming fraudulent ITC & refund of Rs. 61 crore

October 9, 2020 543 Views 0 comment Print

An intelligence was developed by the officers of DGGI that few exporter companies were engaged in fraudulent availment of Input Tax Credit (ITC) on the invoices of non-existing and fictitious firms or such firms which apparently do not have any purchases themselves.

Export of Bangalore Rose & Krishnapuram Onions allowed till 31.03.2021

October 9, 2020 840 Views 0 comment Print

Export of Bangalore Rose Onions and Krishnapuram Onions (Serial Number 52, Chapter 7), upto quantity of 10,000 MT each, has been allowed for the period upto 31st March, 2021, with immediate effect.

AO cannot challenge or change method of valuation opted by assessee as per his whims & fancies

October 9, 2020 3534 Views 0 comment Print

Nabh Multitrade Pvt. Ltd. Vs ITO (ITAT Jaipur) There is no dispute that during previous year relevant to assessment year under consideration the assessee issued 37,500 equity shares of Rs. 10/- each for a price of Rs. 200/- each which includes the share premium of Rs. 190/- per share. To substantiate the value of equity […]

No reopening of Assessment after 4 Year if no failure of Assessee in disclosing relevant facts

October 9, 2020 2706 Views 0 comment Print

CIT Vs Sterling Tree Magnum India Ltd. (Madras High Court) Learned Tribunal has categorically held that there was no failure on the part of the assessee, but disclosed the relevant facts and therefore, merely on the basis of the audit objection or change of opinion and re-assessment under Sections 147 & 148 of the Income […]

SEBI (Issue and Listing of Debt Securities) (Amendment) Regulations, 2020

October 8, 2020 3171 Views 0 comment Print

1. These regulations may be called the Securities and Exchange Board of India (Issue and Listing of Debt Securities) (Amendment) Regulations, 2020. 2. They shall come into force on the date of their publication in the Official Gazette.

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