In the case of Satya Nand Jha vs Union of India Honourable Supreme Court Upheld the Judgment of Jharkhand High Court and upheld the constitutional validity of Section 35F of the Central Excise Act, 1944.
There had been waves of changes since beginning of calendar year 2016 in Rules followed by Finance Act, 2016 and now further reinforced by the Finance Act, 2017. In fact, every business person is trying to adjust to the new law in Direct Taxes at the earliest, without loss of time, so as to be in GST-ready mode wef 01/07/2017, as per the present roadmap .
Migration into GST of a person having only VAT Registration: In such a case, he will be provided the Provisional ID and Password for getting migration into GST by the commercial tax department of his state.
Finance Act, 2017, preceded by demonetization, has proved to be a night-mare for businesspersons especially those of Tiny and SME Sector. Now, there are a number of disincentives in shape of taxes alongwith penalties, which have to be known by every businessman and layman while conducting day to day cash dealings.
Nowadays on Social Media a Revised Format of Form 3D is circulating which is applicable from 01.04.2017 and few raised the query that when the same was released as there is no recent notification on the same. In this respect we would like to brought to your notice that the from 3D as applicable from […]
Implementation Guide on Auditor’s Report under Rule 11(d) of Companies (Audit and Auditors) Amendment Rules, 2017 and Amendment to Schedule III to Companies Act, 2013 issued by the Auditing and Assurance Standards Board
GST rule on E-Way requires furnishing of information relating to any goods worth more than Rs. 50,000 whether they intend to move within the state or Inter-state.
The high risk categories identified include businesses claiming cash sales as the source of cash deposits which is found to be excessive compared to their past profile or industry norms; large cash deposits made by government or PSU employees; persons who have undertaken high value purchases; persons who have used shell entities for layering of funds; and where no responses were received.
Huge cash deposits in Specified Bank Notes (SBNs) were made during demonetization period in various newly opened Benami Accounts in Bank of Maharashtra and money was rotated between said accounts as well as to other entities and finally transferred to another account through RTGS
Our attention has been drawn to the media reports regarding the raids conducted by the Enforcement Directorate on the offices of the Chartered Accountants in New Delhi, who were alleged to be involved in the money laundering and hawala like transactions through shell companies.
