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Vivek Agarwal Fca, Cs, Llb

Latest Posts by Vivek Agarwal Fca, Cs, Llb

ITC reversal for Credit Notes in GSTR-3B – What if Net ITC is reported directly in GSTR-3B

May 14, 2022 105903 Views 3 comments Print

Explore the intricacies of ITC reversal for credit notes in GSTR-3B, especially when the recipient reports net ITC directly. Learn the legal contentions to defend against potential queries from the GST Department during audits. Understand key provisions like Section 34, Rule 73, and CBIC flyer for a comprehensive perspective on managing ITC in compliance with GST regulations.

GST Landmark Case Law: No Reversal of ITC in Respect of Loss of Inputs During a Manufacturing Process

June 24, 2021 12345 Views 0 comment Print

ARS Steels & Alloy International Pvt. Ltd. Vs State Tax Officer (Madras High Court) GST Landmark Case Law: Hon. Madras HC – Section – 17(5)(h) of CGST Act – No Reversal of ITC in Respect of Loss of Inputs During a Manufacturing Process The petitioners are engaged in the manufacture of MS Billets and Ingots. […]

GST Intelligence Department cannot resort to physical violence

November 10, 2020 3033 Views 1 comment Print

Officials belonging to GST Intelligence Department cannot resort to physical violence while conducting interrogation of Petitioners and their employees in connection with inquiry proceedings

Analysis of Form 3CA, Form 3CB and Form 3CD – Part 1

November 6, 2020 46137 Views 0 comment Print

Article is first part of series of articles in which Author will Analyse Form 3CA, Form 3CB and Form 3CD related to Tax Audit under Income Tax Act, 1961- 1. Form  3CA – Audit Report under Section 44AB in a case where the accounts of the business or profession of a person have been audited […]

Taxation of Capital Gains on Sale of Equity Shares- FAQs

November 5, 2020 91818 Views 6 comments Print

Taxation of Capital Gains on Sale of Equity Shares [SECTION 112A] TAX ON LONG TERM CAPITAL GAINS ON CERTAIN ASSETS  Q.1 What type of assets are covered? Ans:  an equity share in a company or a unit of an equity oriented fund or Q.2 What is the rate of tax under this section? Ans: A […]

Provisional attachment of Bank Account valid upto 1 year: Telangana HC

October 20, 2020 1812 Views 0 comment Print

Telangana High Court directs the bank to allow petitioner to operate bank account provisionally attached by Revenue. Provisional attachment order cannot continue after the expiry of one year. Continuation as such would be violative of Articles 14, 19(1)(g) and 300A of the Constitution of India and would be wholly without jurisdiction.

Section 194IA Purchase of Immovable Property from Resident- Analysis

December 28, 2019 10278 Views 2 comments Print

This article discuss Provisions and Scope of Section 194-IA, Payments covered, Who is Payer/Payee, Conditions to be satisfied for applicability of section 194-IA, Time of deduction of tax, Rates of TDS, Effect of non-furnishing of PAN on rate of tax, Certificate/statement for tax deducted at source, Furnishing of statements by tax deductor to department, Some […]

Upcoming due dates of GST Returns (Updated on 28.05.2018)

May 29, 2018 35364 Views 10 comments Print

In this Article Author compiled  Upcoming due dates for GST Returns.   Articles compiles due dates of GST Returns namely- GSTR-1, GSTR-6 , GSTR-3B, GST TRAN 2, GSTR-4, GSTR-3B and RFD-10. 31/05/2018 -GSTR-1 : Outward Supplies (April 2018) 31/05/2018 –  GSTR-6 Input Service Distributor (July 2017 to April 2018) 10/06/2018 –  GSTR-1: Outward Supplies  (May 2018) 20/06/2018 – GSTR-3B: […]

New ITR Forms – Changes Applicable for AY 2018-19

May 28, 2018 10668 Views 2 comments Print

1. Changes in ITR 1 Applicable for A.Y. 2018-19 This from has been made applicable only for resident individuals. Conditions: Income from salaries, one house property, other income and having total income up to Rs.50 lakhs and his total income should not include any income from betting, gambling, etc. There is a requirement to furnish a […]

Top 10 Points Of 23rd GST Council Meeting

November 11, 2017 6621 Views 1 comment Print

All businesses to file GSTR-1 and GSTR-3B till March 2018. GSTR-2 and GSTR-3 due dates will be notified soon. Changes in Composition Scheme – Composition scheme limit to be increased to Rs 1.5 crore (can be extended to Rs 2 crore later). – GST rate of 1% for manufacturers & traders – Composition tax of 1% on turnover of taxable goods (turnover of exempted goods to be excluded)

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