Navi Mumbai CGST Commissionerate busts Rs. 70 Crores Fake GST Input Tax Credit (ITC) Racket The officers of Navi Mumbai CGST Commissionerate of Mumbai Zone have busted a fake GST Input Tax Credit racket involving GST of Rs 70 Crores. This network, which involves more than 14 business entities had issued bogus invoices more than […]
The ABBFF will examine all cases of total amount involving Rs.3.00 Crore and up to Rs.50.00 Crore also, which are classified as Fraud and reported to RBI by PSBs and in case of PSFIs, fraud declared, on or after 06.01.2022.
The percentage cession of the sum insured on each General Insurance Policy to be reinsured with the Indian Re-insurer(s) shall be 4% (four percent) in respect of insurance attaching during the financial year beginning from 1st April, 2022 to 31st March, 2023, except the terrorism premium and premium ceded to Nuclear pool, wherein it would be made ‘NIL’. The entire Obligatory Cession is to be placed with General Insurance Corporation of India (GIC Re) only.
In our considered view, the date of allotment is relevant for the purpose of computing holding period and not the date of registration of conveyance deed as held by the Hon’ble Jurisdictional High Court of Delhi in the case of K. Ramakrishnan 48 com 55
Rajya Sabha Member CA N. D. Gupta has requested MS. Nirmala Sitharaman, Union Minister of Finance to extend Tax Audit filing date for Assessment Year 2021-22. He requested to extend the date of filing Tax Audit report u/s. 44AB of Income Tax Act 1961 to another date based on advise from NITI AAYOG/Health Ministry. Extension in […]
Niyant Heritage Hotels [P] Ltd Vs I.T.O (ITAT Delhi) There Is no dispute that the assessee is running a resort at Raj Niwas Palace, Dholpur. It Is also not In dispute that being a tourist place, the occupancy is not throughout the year but only in seasons favourable to the tourists. Therefore, basis the revenue […]
Request for Extension of the specified date of filing the Tax Audit Report and other forms falling due on or before 15th January 2022 submitted with Hon’ble Union Minister of Finance by Chandigarh Chartered Accountants Taxation Association (CCATAX). CCATAX requested FM to extend the time limit / due date of filing of Income Tax audit […]
Tax Bar Association, Jodhpur has made a Request for extension of due date of Tax Audit Report and Other Reports for a month. Relevant Text of their representation is as follows:- TAX BAR ASSOCIATION JODHPUR (Rajasthan) Date: 07th January, 2022 To, Hon’ble Finance Minister. Ministry of Finance New Delhi Hon’ble Madam, Greetings of the Day! […]
Adroit Pharmachem Private Limited Vs Commissioner of Central Excise & ST (CESTAT Ahmedabad) Revenue submits that after 01.04.2011, construction service was excluded from the definition of ‘Input Service’ therefore, the appellant is not entitled for Cenvat credit. Appellant has already existing factory and in the said factory, Effluent Treatment Plant was installed for which they […]
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