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New Form INC 22A (eForm ACTIVE) – Late Fees Rs. 10000- FAQs

February 22, 2019 84144 Views 15 comments Print

MCA introduces new e-form INC 22A – also known as e-Form ACTIVE (Active Company Tagging Identities and Verification) by issuing Companies (Incorporation) Amendment Rules, 2019. Let us have a quick analysis of the newly amended Rule. 1) e-form INC 22A (Active) Applicable to? The eForm INC 22A is applicable to every Company Incorporated on or […]

Summary of CGST Circulars No. 89 to 91 dated 18th February 2019

February 21, 2019 30972 Views 8 comments Print

I. Circular No. 89/08/2019-GST dated 18.02.2019 ♥ After observing that the majority of tax payers are not reporting details in Table 3.2 of GSTR-3B, the circular has been issued  to clarify that the tax payers has to fill the details of supplies to unregistered dealers mandatorily in table 3.2 of GSTR-3B and also in table […]

Can a tax payer claim both HRA and home loan benefits?

February 20, 2019 28656 Views 2 comments Print

There is a huge confusion in the minds of taxpayers about whether the tax benefits in respect of House Rent Allowance (HRA)  and the benefits attached with a home loan be claimed in the sqme year. This article intends to clear the doubts in this regard.

ITC ineligible – Changes w.e.f 1st Feb ’19

February 20, 2019 192108 Views 42 comments Print

This article is prepared considering the changes in ITC eligibility under GST which are effective from 01.02.2019. The changes in credit restrictions is a product of ambiguity and scope of various interpretations of the law. The aim was to bring in clarity, and ensure common man is not burdened with the law. An analysis on […]

Analysis of 3 GST Circulars issued by CBIC on 18th February 2019

February 19, 2019 41388 Views 6 comments Print

Key highlights of the Circulars issued by GST Policy Wing, CBIC on 18th February 2019 : The GST Policy wing of CBIC has issued 3 circulars today clarifying 3 issues – 1. Requirement of disclosing details of Inter-State Supplies made to Unregistered Persons in return GSTR 3B and GSTR 1 2. Disclosing Place of Supply […]

Separate GST Registration for Multiple Places of Business within State or UT

February 17, 2019 99750 Views 7 comments Print

NEW PROVISIONS RELATING TO THE SEPARATE REGISTRATION FOR MULTIPLE PLACES OF BUSINESS WITHIN THE STATE OR UNION TERRITORY  Section 25 of the CGST Act, 2017 contains the registration provisions and as per section 25 (2) of the CGST Act, 2017 the person shall be granted a single registration in a State or Union territory. The proviso to […]

Reverse Charge Mechanism amendments effective from 01.02.2019

February 16, 2019 124731 Views 13 comments Print

The provisions of section 9 (4) of the CGST Act, 2017 deals with the applicability of reverse charge mechanism, wherein, the goods or services or both is being procured by the registered person from the unregistered person.

Amendment in GST Input Tax Credit Utilisation rules wef 01.02.2019

February 15, 2019 93498 Views 13 comments Print

there are various rules / provisions affecting utilization of input tax credit which has been amended and the said amendments relating to the rules / provisions affecting utilization of input tax credit is being highlighted in the present article.

All about Cash receipt exceeding Rs 2,00,000 under Income Tax Act

February 13, 2019 212343 Views 19 comments Print

There are various provision inserted via Finances Act to put a limit on Cash Transaction for a check on Black Money and Tax Theft, below are the following provision applicable to Assesses (Liable for Audit u/s 44 AB of the Act) SECTION 269ST PROVISION OF SECTION 269ST: No person shall receive an amount of two lakh rupees or more— […]

Beware! Interest in GST is not in Public Interest!

February 11, 2019 19887 Views 12 comments Print

Arjun (Fictional Character): Krishna, What debate is undergoing on GST interest? Krishna (Fictional Character): Arjuna, Under Sec 50, interest is levied in GST. Hyderabad GST Commissionerate has issued standing order on 4th   February, 2019. It lead to argument between taxpayer and government. Arjun: Krishna, When is interest levied under GST and who is liable to […]