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No penalty on additional income admitted though there was no evidence

September 23, 2020 1905 Views 0 comment Print

ACIT Vs Deccan Jewellers Pvt. Ltd. (ITAT Visakhapatnam) We find from the orders of the lower authorities that the basis for additional income was only estimation but not supported by any evidence. Even the department failed to substantiate the industry average of purification loss with authenticated documentary evidences. The assessee submitted that the additional income […]

Blocking of the e-credit ledger – Mismatch of GSTR-2A and 3B

September 23, 2020 7677 Views 0 comment Print

Goyal Iron And Steel Traders Vs Assistant Commissioner Palam Division CGST Delhi South & Ors. (Delhi High Court) High Court directed to decide the matter by way of a reasoned order where the electronic credit ledger was blocked citing a mismatch in the Input Tax Credit claimed in GSTR-3B and that appearing in GSTR-2A. High COurt held that […]

Extend time limit of statutory Company Law compliances

September 22, 2020 37122 Views 2 comments Print

Representation on technical glitches on MCA Web-portal & Request for extension in the time limit on submission of various statutory compliances by CA Social Affiliation (CASA) to Smt Nirmala Sitaraman, Hon. Finance Minister of India, Govt of India. CA Social Affiliation (CASA) Serving CA Profession since 2010 CASA/MCA/20-21/04   Dated 21st September 2020 To Smt Nirmala […]

CBI Registers a Case Against CGST Commissioner for Disproportionate Assets Allegations

September 22, 2020 1044 Views 0 comment Print

The Central Bureau of Investigation has registered a case against the then Commissioner of Customs, Marmagoa, Goa on the allegations of possessing Disproportionate Assets to the tune of Rs.1,39,34,906/- (approx).

Amendment in MEIS Schedule with effect fronm 01.01.2020

September 22, 2020 3114 Views 0 comment Print

Certain amendments have been made in the MEIS schedule Table 2 of Appendix 313 to harmonize it with the Notification no. 38 dated 01.01.2020 and the changes in the Finance (No. 2/ Act. 2019. Fifth Schedule as notified by CHIC.

Track & Trace system Implementation for export of Pharma & drug extended upto 01.04.2021

September 22, 2020 945 Views 0 comment Print

The date for implementation of Track and Trace system for export of drug formulations with respect to maintaining the Parent-Child relationship in packaging levels and its uploading on Central Portal has been extended upto 01.04.2021 for both SSI and non SSI manufactured drugs.

GST-Inverted duty structure- Section 54 not violates Article 14- HC

September 21, 2020 14865 Views 0 comment Print

1) Section 54(3)(ii) does not infringe Article 14. (2) Refund is a statutory right and the extension of the benefit of refund only to the unutilised credit that accumulates on account of the rate of tax on input goods being higher than the rate of tax on output supplies by excluding unutilised input tax credit that accumulated on account of input services is a valid classification and a valid exercise of legislative power.

Anti-dumping duty on imports of Measuring Tapes from China- Reg.

September 21, 2020 1935 Views 0 comment Print

Case No. AC-06 /2020- Initiation of anti-circumvention investigation concerning alleged circumvention of anti-dumping duty imposed on imports of Measuring Tapes from China PR.

Allocation of MBBS/BDS Seats from Central Pool for spouse & children of terrorist victims

September 21, 2020 948 Views 0 comment Print

Guidelines issued by Ministry of Health and Family Welfare for allocation of Central Pool MBBS/BDS seats for spouse and children of civilian victims of terrorist for the academic year 2020-21.

GST payable on Penal Interest/Penalty collected by foreman to chit

September 21, 2020 4011 Views 0 comment Print

In re Ushabala Chits Private Limited (GST AAAR Andhra Pradesh) For the record, it may be noted that under Section 15(2)(d), the said interest or late fee or penalty for delayed payment of any consideration is for any supply. It is not necessary that it flows out of a ‘taxable supply’. Further the word “consideration” […]

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