CBIC fixes 32 Defects for Taxpayers on GST Portal as on 20.12.2019 which includes defect related to Adjudication, All Modules, Assessment & Adjudication, Assessment- Reply to SCN in cases of penalty, Assessment, Form ITC 04, New Return – Preparation of GST ANX 1 Online, Payment, Refund, Registration – Search Taxpayer, Registration- Adding a foreign Promoter, […]
Paragraph 2.79D of Handbook of Procedures of FTP 2015-20 has been amended to lay down the procedure for export of SCOMET item(s) imported for demo/display/exhibition/ tenders/RFP/RFQ/NIT purposes in the country. In addition, the undertaking by an applicant firm seeking authorisation for export of indigenous/imported SCOMET item(s) for demo/display/exhibition etc. abroad [Para 2.79D(A)] has also been modified including provision of bringing back item(s) within 90 days after the event.
It has been noticed that proposals involving foreign visit/ deputation for meetings, conferences, training, workshops etc., are being received/submitted in a casual manner without due diligence with reference to subject matter, time and manner of submission. Therefore, a need has been felt to streamline the procedure for preparing and processing the proposal for foreign deputation to maintain quality, consistency and uniformity.
CBIC extends the due date for furnishing of return in FORM GSTR-3B for registered persons in Assam, Manipur, Meghalaya or Tripura for the month of November, 2019 vide Notification No. 77/2019 – Central Tax Dated: 26th December, 2019. Government of India Ministry of Finance (Department of Revenue) Central Board of Indirect Taxes and Customs Notification […]
SEBI notifies Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) (Sixth Amendment) Regulations, 2019 vide Notification No. SEBI/LAD-NRO/GN/2019/47 dated 26th December, 2019. SECURITIES AND EXCHANGE BOARD OF INDIA NOTIFICATION Mumbai, the 26th December, 2019 SECURITIES AND EXCHANGE BOARD OF INDIA (ISSUE OF CAPITAL AND DISCLOSURE REQUIREMENTS) (SIXTH AMENDMENT) REGULATIONS, 2019 No. […]
The dwelling units measuring less than 60 sq.mtrs. will qualify as low cost houses. They are eligible for the concessional rate of 12% (8% GST after deducting value of land)under Entry (v) (da) of Notification No. 11/2017 Central Tax (Rate) dated 28.6.2017 as amended by Notification No. 1/2018-Central Tax (Rate) dated 25.01.2018 with effect from 25.01.2018 on such units.
The author states that the present world order is dominated by a conflict between two ideologies and their proponents: globalisation and local sovereignty. Globalists advocate borderless commerce, homogeneous world culture, and a rules-based world order (political globalisation).
Shaurya Enterprises Vs State of U.P. (Allahabad High Court) It has been observed that till March 31, 2018 it was not mandatory to download the e-way bill from the official website and the said requirement was effective from 1st April, 2018. In this case the e-way bill which was downloaded and submitted on 10.12.2017 at […]
Usha Exports Vs ACIT (Bombay High Court) The first contention raised by Dr. Shivram regarding the absence of statement regarding petitioner’s failure in the reasons is correct. The reasons supplied along with the impugned notice, which are reproduced above, contain no assertion there was any failure of the petitioner to disclose fully and truly all […]
After considering audited balance-sheet, opening cash balance and closing cash balance, AO had not doubted closing cash balance of cash as on 31-3-2011. Also, assessee had pointed out that over all cash balance had remained the same. Thus, lesser opening cash balance as on 1-4-2002 did not call for any addition during the year under consideration as no unexplained cash was introduced in books of account.
