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Section 263 CIT cannot direct AO to decide issue afresh to make rowing enquiry

May 24, 2019 1176 Views 0 comment Print

Pr. CIT has proceeded to revise the scrutiny assessment order and directing the AO to decide the issue afresh i.e. for making rowing enquiry which is not permissible u/s.263 of the Act.

GST on Services of printing or reproducing contents of customers

May 24, 2019 24321 Views 0 comment Print

Whether the activity of merely printing or reproducing the content given by the photographers / retail customers on pen drive, CD, memory card or any other storage media will be classifiable under Service Code 998912 or 998386?

GST payable on Security Services to University imparting graduation courses

May 24, 2019 12630 Views 0 comment Print

In re Security and Intelligence Services (India) Ltd. (GST AAR Maharastra) We find that the applicant has been given the status of a Deemed University by the University Grants Commission. The UGC was formally established 1956 as a statutory body of the Government of India through an Act of Parliament for the coordination, determination and […]

Breakwater cannot considered to be plant or machinery

May 24, 2019 2106 Views 0 comment Print

The applicant has agreed that the breakwater is an immovable property. To find whether they are eligible to avail ITC of tax paid on the construction of such breakwater we need to find whether the same can be considered to be ‘Plant and Machinery’.

Voluntary Retention Route for Foreign Portfolio Investors investment

May 24, 2019 960 Views 0 comment Print

The Reserve Bank, in consultation with the Government of India and Securities and Exchange Board of India (SEBI), introduces a separate channel, called the ‘Voluntary Retention Route’ (VRR), to enable FPIs to invest in debt markets in India. Broadly, investments through the Route will be free of the macro-prudential

Fake GST Invoice- HC denies Anticipatory bail

May 24, 2019 1686 Views 0 comment Print

Mahendra Kumar Singhi Vs Commissioner of State Tax (High Court of Madras) Section 132 of the Act will apply with all force the moment an invoice or a bill is issued without, movement of goods or Input Tax Credit has been wrongly availed. In the present caser the preliminary investigation reveals that the entities have […]

HC orders release of goods as appellant already deposited tax & penalty

May 23, 2019 843 Views 0 comment Print

Considering the fact that the petitioner has already deposited tax and penalty under section 129 of the IGST Act, by way of ad-interim relief, the respondents are directed to forthwith release Truck No.HR-55-J-2944 along with the goods contained therein.

Penalty cannot levied on suo motu income declared in revised return 

May 23, 2019 1923 Views 0 comment Print

Pr. CIT Vs Sterlite Opportunities and Ventures Ltd. (Bombay High Court) revised return filed under Section 139(5) of the Act, was valid return of income filed by the Respondent on its own and not on the basis of any investigation/ discovery done by the department of inaccurate particulars in the original return of income. Thus, […]

Empanelment with Indian Bank for Concurrent & Stock Audit

May 22, 2019 43416 Views 10 comments Print

Indian Bank Date: 18.05.2019 Empanelment of Concurrent Audit & Stock Audit √ Indian Bank conducts process for Empanelment of Concurrent Auditors once in a year. Indian Bank invites applications in the prescribed format only from the practicing firms of Chartered Accountants of India, who are willing to have their firm empanelled as Concurrent Auditor & […]

MCA notifies Form PAS-6 Reconciliation of Share Capital Audit Report

May 22, 2019 47526 Views 0 comment Print

Companies (Prospectus and Allotment of Securities) Third Amendment Rules, 2019  MCA notifies Form PAS – 6- Reconciliation of Share Capital Audit Report (Half-yearly) Pursuant to sub-rule (8) of rule 9A Companies (Prospectus and Allotment of Securities Rules, 2014. (All information shall be furnished for the hall year ended 30th September and 31st March in every financial […]

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