The article contains how the refund of amount paid during investigation may be claimed on the basis of High Court Judgment M/s BUNDL TECHNOLOGIES PRIVATE LIMITED Vs THE UNION OF INDIA AND ANR. I hope the article will be helpful to the readers. Under this article I would like to analysis the case when the […]
ICSI request MCA to consider the extension of Last date of filing e-forms AOC-4, AOC-4 (XBRL) and MGT-7 without additional fees for such companies till 31st December, 2021.
INTRODUCTION Section 44AB was introduced in the Income-tax Act, 1961, by the Finance Act, 1984. This section provides for audit of accounts of assesses having total sales, turnover or gross receipts exceeding the specified limits of Rs. 40 lakhs for business and Rs. 10 lakhs for profession. New Rule 6G, inserted in the Income-tax Rules, […]
ICAI has issued 22 Notifications Dated 22nd October 2021 by which it has Taken action against 22 Chartered Accountants for Violation of Code of Ethics and for Professional Misconduct. In one case ICAI has Taken against a member and member has been ordered to pay a fine of Rs. 1000/- for each case of audit […]
GST Department has made it’s stand crystal clear that a tax payer has to strictly comply with provisions of Section 16(2)(c) of CGST Act, 2017 and GST Portal itself will ensure that such ITC is reflected as ITC not available to tax payers.
ICAI submitted its Suggestions on GST Portal related to Significant changes in GSTR-1, GSTR-2A, GSTR-2B and GSTR-3B Returns & Integration, Recent changes in Registration and Refund, available Functionalities and New Functionalities & Tools required. Suggestions on GST Portal August 2021 GST & Indirect Taxes Committee THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA NEW DELHI INTRODUCTION […]
The GSTR-1 and GSTR-3B for the Month of September that are to be filed in October holds an importance as it is assumed to be the last date for making entries/amendments for the previous financial year. Now the important question is that what’s the due date for making amendments is for GSTR-1 and claiming ITC […]
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 […]
Over 2 crore Income Tax Returns filed on the e-Filing portal of the Income Tax Department The e-filing portal of the Income Tax Department (www.incometax.gov.in) has marked receipt of more than 2 crore Income Tax returns as on 13th October 2021. The new portal was launched on 7th June, 2021 and in the initial period taxpayers had reported glitches and difficulties […]
1. Tax wrongfully collected and Paid under wrong head > Section 77 of the CGST Act 2017 provides that if the registered taxpayer has paid CGST and SGST/UTGST, as the case may be on a transaction considered by him to be intra-state supply, but which was subsequently held to be inter- state supply, would get […]
