GSTR 9 and GSTR 9C for FY 2018-19 – Current problems in the GST Annual returns forms
As we all know that the GST professionals have just concluded the mammoth task of finalising and filing the GST Annual returns and GST Audit...
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GSTR 1 date for July 2017 to November 2019 extended to 17th January 2020
The GST council in its 38th meeting has recommended that the late fee waiver for the GSTR 1 for the period between July 2017 to...
Limit for appointment of Company Secretary has been increased from Rs. 5 Crores to Rs. 10 Crores
The Ministry of Corporate Affairs (MCA) has issued the notification on 03rd January 2020 in which the following changes have been introduced, which are as...
Extension of Form BEN-1 and BEN-2
The Ministry of Corporate Affairs (MCA) has extended the last date of filing of Form BEN-1 and BEN-2 from 31st December 2019 to 31st March...
ITR 1 and ITR 4 notified for the AY 2020-21
In a surprising move by the Income Tax Department, the ITR 1 and ITR 4 have been notified for the AY 2020-21. This is the...
Circular No. 130/49/2019-GST – Reverse Charge Mechanism (RCM) on renting of motor vehicles
On 31st December 2019, the Central Board of Indirect Taxes and Customs has issued the Notification no. 29/2019-Central tax rate regarding the RCM on renting...
Notification no. 29/2019-Central Tax Rate – Leviability of RCM on renting of motor vehicle services
On 31st December 2019, the Central Board of Indirect Taxes and Customs (CBIC) has issued the Notification no. 29/2019-Central Tax Rate for the leviability of...
Notification no. 28/2019-Central Tax Rate – Exemption of upfront fee payable for long term lease of industrial / financial infrastructure plots by an entity having 20% or more ownership of Central or State Government
To give effect to the recommendations of the 38th GST Council Meeting, the Central Board of Indirect Taxes and Customs (CBIC) has issued the Notification...
Notification no. 27/2019 – Central Tax (Rate) – Increase in rate of woven and non woven bags and sacks of polyethylene or polypropylene strips used for packing of goods
On 30th December 2019, the Central Board of Indirect Taxes and Customs has issued the notification in which the rates of the following items have...
PAN AADHAR linking extended by 3 month
On 30th December 2019, the Central Board of Direct Taxes (CBDT) has extended the due date of linking of PAN with AADHAR from 31st December...
Rupay enabled Debit card and UPI notified as prescribed mode of payment under section 269SU
With effect from 1st January 2020, every person carrying on business, if his total sales, turnover or gross receipts, as the case may be, in...
Circular No. 129/48/2019-GST – Standard Operating Procedure in case of non-filers of returns
On 24th December 2019, the Central Board of Indirect Taxes and Customs (CBIC) has issued the circular no. 129/48/2019 regarding the Standard Operating Procedure for...
Circular No. 128/47/2019-Quoting of Document Identification Number (DIN) on the communications issued by Officers of CBIC
On 23rd December 2019, the Central Board of Indirect Taxes and Customs has issued the circular no. 128/47/2019-GST regarding the generating and quoting of Document...
Recommendations and decisions of 38th GST council meeting
On 18th December 2019, the 38th GST council meeting is held in which the following recommendations and decisions are being taken by the GST council...
Notications for applicability of E-invoicing
On 13th December 2019, the Central Board of Indirect Taxes and Customs (CBIC) has notified notifications no. 68/2019, 69/2019, 70/2019 and 71/2019 regarding the applicability...
Where the assesse has made the FDR out of borrowed funds, the interest on such FDRs cannot be added back by invoking the provisions of section 57(iii) of the Income Tax Act, 1961 – ITAT Delhi
Crux : Where the assesse has made the FDR out of borrowed funds, the interest on such FDRs cannot be added back by invoking the...
Where the additions and disallowances are deleted by the higher authorities, there is no basis for levying penalty u/s 271(1)(c) of the Act – ITAT Delhi
Crux : Where the additions and disallowances are deleted by the higher authorities, there is no basis for levying penalty u/s 271(1)(c) of the...
All about voluntary striking off the name of Company from Register of Companies
In the current scenario, there are certain companies which are inoperative or not working from the date of the incorporation and are lying idol without...
Where no satisfaction note in the searched persons proceeding recorded separately, the jurisdiction assumed u/s 153C in the case of the assessee is not in accordance with provisions of section 153C – ITAT Delhi
[docxpresso file=”https://taxcharcha.com/wp-content/uploads/2019/12/ITAT-Delhi-1-2.odt” comments=”true” SVG=”true”] To download the complete order, click here ITA No.1720-Del-2015-ACIT vs. Gracious Project Pvt. ltd....
Where the order is passed ex parte making an addition of Rs. 6 Lacs, the case is remanded back to CIT(A) directing it to provide final opportunity of being heard to the assessee
[docxpresso file=”https://taxcharcha.com/wp-content/uploads/2019/12/ITAT-Delhi-1-1.odt” comments=”true” SVG=”true”]...
Where the notice issued u/s 271(1)(c) read with section 274 of the act does not specify whether the penalty is for concealment of income or for furnishing of inaccurate particulars of income, the same is bad in law and no penalty can be levied.
[docxpresso file=”https://taxcharcha.com/wp-content/uploads/2019/12/ITAT-Mumbai_1.odt” comments=”true” SVG=”true”]...
Analysis of Rule 36(4) – Additional 20% ITC
On 9th October 2019, a notification has been issued by the CBIC regarding the introduction of Rule 36(4) which says about the provisional availment of...
CBDT notifies Form 26QD and Form 16D for TDS under section 194M
The Central Board of Direct Taxes (CBDT) has notified the Form 26QD and Form 16D for the TDS deduction and deposition under section 194M vide...
Circular No. 125/44/2019-GST – Clarification regarding fully electronic refund process through Form GST RFD 01 and single disbursement
The CBIC has issued the clarification regarding the fully electronic refund process and single disbursement of the refund. In the circular, the complete process of...
Circular No. 124/43/2019 – Clarification regarding filing of optional Annual returns under GST
On 18-11-2019, the CBIC has issued the clarification regarding the optional filing of Annual returns of the taxable persons whose turnover do not exceed Rs....
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