Notice in Form GST REG-03 for seeking clarification relating to GST Registration In case you have applied for GST registration, you may receive notice in form REG-03 seeking additional information / clarification / documents relating to application for GST registration. As per provision of GST law, GST officer examines the GST registration application filed by […]
Following are the important Final Accounts of Banking Companies as per Banking Regulation Act 1949 and its latest Amendments and Reserve Bank of India’s Circulars. 1. Balance Sheet 2. Profit and Loss Account Now, Banks need not follow Ind AS. The relevant position is as follows. On 1st April 2019 – Mandatory Basis — (as […]
Today in our series of comprehensive discussion about provisions under GST, we have the topic of amendments which can be made to the GST registration. In this article we shall be discussing not just the relevant section, i.e. Section 28 of the CGST Act,2017 “Amendment of registration”, but also Rule 19 of the CGST Rules, […]
वित्तीय वर्ष 2020-2021 के लिए जीएसटीआर 9 (GSTR 9) और जीएसटीआर 9सी (GSTR 9C) से संबंधित प्रश्न वित्तीय वर्ष 2020-21 के लिए वार्षिक रिटर्न GSTR 9 और GSTR 9C की नियत तारीख आने वाली है। इससे संबंधित अधिसूचना सं – 31/2021 – केन्द्रीय कर, तारीख 30, जुलाई 2021 द्वारा, कुछ बदलाव सूचित किए गए हैं। […]
RELEVANT STATUTORY PROVISIONS Section 69- Power to arrest (1) Where the Commissioner has reasons to believe that a person has committed any offence specified in clause (a) or clause (b) or clause (c) or clause (d) of sub-section (1) of section 132 which is punishable under clause (i) or (ii) of sub-section (1), or sub-section […]
If you are a young entrepreneur or a startup, we commend you. Building a business is one of the hardest things ever tried. This article will share some of the financial lessons usually young entrepreneurs get while starting a business. You won’t repeat some of the most common financial mistakes that many young entrepreneurs make. […]
In today’s article we are going to discuss the tax implications on self generated Goodwill when a proprietorship firm converts itself into a partnership firm. PROBLEM: Mr. A ( Chartered Accountant) is running a proprietorship firm and his firm is converted into a partnership by inducting his son as new partner on 31.03.2021 with 50% […]
Hon’ble Kerala High Court in the current application observed that the motor vehicle was detained only on the ground of not having E-way Bill. Under Rule 138(14)(a) of the KGST Rules the goods classifiable as used, personal and household effect are exempted from the requirement of E-way Bill.
Please refer to the case, Excise Appeal No.50646 of 2020 [SM] by the appellant, M/s. WMW Metal Fabrics Limited, requested the refund of the amount deposited in the PLA account which was not utilised to discharge the liability under the erstwhile Excise Act, the refund was denied as the time limit for the request to […]
Even after these years of GST, there is lot of scope of improvement in the GST regime. Though, the Government is introducing various amendments from time to time. Even then, the Government has yet to deal with the issues and implications. On the other hand, GST has also simplified the complexities of previous tax era. […]
