In order to follow the government directives pertaining to attendance and to also ensure that no assessment is barred by limitation, all the officers are instructed to pass the assessment orders on the SAP system and where it is not possible to pass assessment orders on system, in such cases the assessment orders may be passed manually outside the SAP system.
Authority has contended that since there is no payment of VAT, the transaction is not a deemed sale. However, we are of the view that there may be cases where even though there is a deemed sale, but the particular transaction may not attract sales tax/VAT.
With a view to provide some degree of relief to the borrowers whose operations are impacted by Covid 19, it is decided by the Bank to make available additional credit facilities to the eligible existing borrowers by way of ad-hoc facilities i.e COVID 19 EMERGENCY CREDIT LINE (CECL) to tide over the current crisis situation. CECL will be in force upto 30.06.2020.
Inordinate delay in filing of MAs is not a fit case for condonation, more so, because there is no specific provision in the realm of section 254(2) of the Act to provide for such condonation of delay in case of MAs.
CBDT has released Direct Tax Vivad Se Vishwas Rules 2020 vide Notification No. 18/2020-Income Tax Dated- 18/03/2020 and also released following forms- FORM-1- Form for filing declaration, Form-2 – Undertaking Under Sub-Section (5) Of Section 4 Of The Direct Tax Vivad Se Vishwas Act, 2020 (3 Of 2020), Form-3- Form For Certificate Under Sub-Section (1) Of […]
JHARKHAND COMMERCIAL TAXES BAR ASSOCIATION March 19, 2020 To, Hon’ble Finance Minister Government of Jharkhand Ranchi. Sub : Practical difficulties in day to day affairs Respected Sir, Our Association was formed in the year 1965 with the purpose of providing assistance and educate its Members practicing in Indirect taxes field. Time and again representations have […]
A major part of the Taxpayers would not be having a turnover of Rs. 5 Crore. So if the threshold limit of filling GSTR 9C is increased up to Rs. 5 crores, then a large amount of taxpayers would escape from requirement of certification of business transaction. Lesser number of Taxpayer would imply less collection of tax and hence loss of revenue to the Government.
Time limit stipulated under Rule 117 of the Rules is not ultra vires of the Act. This Rule is traceable to the power conferred under section 164(2) of the Act. The time limit stipulated in Rule 117 is in consonance with the transitional nature of the enactment, and it is neither arbitrary nor unreasonable.
Government in the Ministry of Corporate Affairs has relaxed the rules with respect to meetings of Board and dispensed with the necessity of holding physical meetings on matters relating to approval of financial statement, board report, restructuring etc. upto 30th June, 2020. We are also examining any other relaxations under the Companies Act, 2013. that may be necessitated on account of COLD-19.
The Applicant claims that it administers certain plant-based medications for the treatment of osteoarthritis and disorders of similar nature. The medicaments are not supplied standalone, but ancillary to the supply of health care service. lt is a composite supply of health care service called ‘phytotherapy’. Applicant further submits that ‘phytotherapy’ is a treatment based on the ayurvedic system of medicine
