1. SC accepted the submission of Government which has stated that (i) The Union government has extended the deadline for Aadhaar linkage with all schemes of its Ministries/Departments until 31 March 2018; (ii) As far as Aadhaar linkage with bank accounts is concerned, for existing bank accounts, the last date for the completion of the process may be extended to 31 March 2018;
Vacancy for the post of Credit Control Manager for A Company Based in Mumbai involved in Manufacturing and Trading of Goods. Candidates should be either CA, CS, CMA or MBA finance with 15 to 20 Years of working experience.
During CASS Cycle 2016, some of the returns of income which earlier were treated as defective as per provision of section 139(9) of Income Tax Act, 1961 (‘Act’) either for the reason that the taxes as per the return were not paid or for any other reason specified therein were also selected for scrutiny.
The Institute has come across certain messages that are being aired in social media that some persons have approached to the Court of Law seeking direction to the Institute for making provisions for reservation in the Chartered Accountancy course.
Under the provisions of recently introduced section 139AA of the Income-tax Act, 1961 (the Act), with effect from 01.07.2017, all taxpayers having Aadhaar Number or Enrolment Number are required to link the same with Permanent Account Number (PAN).
GST law, as drafted and legislated, is not free from the interpretational hassles. Taxpayers have started challenging various provisions of GST laws and rules framed there under before various High Courts and about 50 petitions have been filed so far.
The article lays a study into as should Amortization of Tools, Dies, Moulds, Patterns etc. costs be added in the value of finished goods for GST purpose. Example of automobile industry can be taken, the manufacturing of an automobile (say ‘a Car’) is highly complex process and is usually found split among multiple tiers. The […]
Arjuna, due to technical issues taxpayers have paid wrong amount to the government. Sometimes they pay excess amount. In that case i.e Amount is paid in excess of actually payable to the Government’s treasury, then we will get ITC for that in next tax period. But if there is no liability to set off the ITC, then that amount will be refunded to the taxpayer.
Because of the first time requirement of paying IGST on transfer of goods from one state to another state even within the same company, there was an additional cash flow of IGST in the first 3 months. As and when the final transaction of these goods takes place, the credit for IGST is being utilized for payment of SGST and CGST and therefore, the inflow of new taxes is low;
Question No. 1: I am restaurant owner and also have supply of some other services worth Rs. 1 lakh. Am I eligible for Composition scheme ? Answer: No. Please refer to Section 10 of CGST Act. Question No. 2: Challan for Job work in farm ITC-04 needs to be filed by 25th of next quarter. […]
