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HC beautifully explains concept of Natural justice in GST Case

August 31, 2019 31209 Views 0 comment Print

It is true that the concept of natural justice is not very clear and therefore, it is not possible to define it; yet the principles of natural justice are accepted and enforced.

FDI in Telecom Services sector

August 30, 2019 6732 Views 0 comment Print

Telecommunications is one of the fastest growing industries in India that has undergone an innovative phase over the past few years and stands as the second largest telecommunications market in the world after China. It is due to liberalization policy that telecom sector could attract more FDI flows in private sector participation increased in total […]

GST Invoicing and all you need to know about it!

August 29, 2019 36615 Views 3 comments Print

When should you issue a GST Invoice? Certain people have confusion regarding timing of issuing GST invoice. Whether invoice should be issued first and then goods are to be supplied or goods are to be delivered first and then invoice should be issued? This confusion can be resolved when we take a close look at GST laws.

Non-Filers/Stop filers of Income Tax Returns to get Notices soon

August 29, 2019 27471 Views 2 comments Print

Criteria for generation of non filers: Any person holding valid PAN has not filed the return for the entered AY as well as for preceding 3 A.Y.s. Criteria for generation of stop filers: Any person holding valid PAN has not filed the return for the entered AY but filed the return for any of the preceding 3 A.Y.s.

Section 68 not applies to Swapping of shares

August 28, 2019 3144 Views 0 comment Print

This is a simple case of acquiring shares of certain companies from certain shareholders without paying any cash consideration and instead the consideration was settled through issuance of shares to the respective parties. That is, section 68 of I.T. Act, 1961 does not apply to cases of purchase of share assets and allotment of shares by the appellant when purchase and allotment are under a barter

Clarifications on filling-of ITR forms for Assessment Year 2019-20

August 27, 2019 32106 Views 3 comments Print

In ITR Form-2 and ITR Form-3, in Part-A General, at column (h), the taxpayer is required to state whether he was Director in a company at any time during the previous year. In case of an affirmative answer, the taxpayer is further required to disclose following information relating to each company in which he was a Director:-

Due date to furnish Form GSTR-9 /9A/9C extended to 30.11.2019

August 26, 2019 51189 Views 20 comments Print

The last date for furnishing of Annual Return in the FORM GSTR-9 / FORM GSTR-9A and Reconciliation Statement in FORM GSTR-9C for the financial year 2017-18 has been extended from 31st August, 2019 to 30th November, 2019. RoD Order No. 07/2019-CT dtd. 26.08.2019. Last date for Annual Returns- Last Date for filing of Annual returns […]

Extend due date for filing GSTR-9 and GSTR-9C to December

August 25, 2019 133947 Views 15 comments Print

Extend the due date for filing the GSTR-9 and GSTR-9C from August to December along with the filing of GTR-9C for the F.Y. 2018-19 so that all the compliances are made and the adjustments made in the following years gets reconciled at the same time.

“Dahi Handi” of GST Annual Return and GST Audit

August 25, 2019 19686 Views 3 comments Print

Arjun, for breaking the Dahi Handi taxpayers are required to overcome 10 difficulties i.e. 10 layer pyramid. These layers are as follows: To have a stable pyramid, a strong foundation is required. The biggest hurdle of forming this in GST is calculation of net liability through Annual return and Audit Report, as both the forms provides no information regarding it.

Solve technical issues and extend due date of GSRT 9 & GSTR 9C

August 22, 2019 55668 Views 8 comments Print

Rajasthan Tax Consultants’ Association has Requested for solving the technical issues of GSRT 9 & 9C and extension of due date for filing of GSTR 9 & conducting GST Audit & reporting in Reconciliation Statement in GSTR 9C. THE RAJASTHAN TAX CONSULTANTS’ ASSOCIATION KAR SALAHKAR BHAWAN B-145/B, KALYAN PATH, MANGAL MARG, BAPU NAGAR, JAIPUR-302015 PH.: […]

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