Month: September 2017
No Concealment penalty u/s 271(1)(c) for income surrendered during survey if income was disclosed in return which was filed within due date-Allahabad High Court ABCAUS Case Law Citation: ABCAUS 2077 (2017) (09) HC The Substantial Question of Law framed/urged for determination: “(I) Whether the ITAT was justified …
Extension of time limit for submitting Form GST TRAN-1 to 31st October 2017 F. No. 349/58/2017-GST Government of India Ministry of Finance Department of Revenue Central Board of Excise and Customs *** New Delhi, the 18th September, 2017 Order No. 02/2017-GST Subject: Extension of time limit for submitting …
CBEC instruction to file SLP against stay of tax collection under GST by the orders of High Courts irrespective of fact that matter is still pending before High Court F.No.275/11/2017-CX.8A Ministry of Finance Department of Revenue Central Board of Excise & Customs (Legal Cell) ******** ‘C’ Wing, 5th …
Disproportionate increase in expenses in relation to turnover can not be reason in itself for making adhoc disallowance without cogent material – ITAT ABCAUS Case Law Citation: ABCAUS 2076 (2017) (09) ITAT Assessment Year : 2012-13 Brief Facts of the Case: The Petitioner assessee had claimed certain expenses. …
Income Tax Officer is bound to furnish reasons for re-opening u/s 147 which should already be on record, prior to issuance of notice u/s 148 of the Income Tax Act, 1961 – High Court ABCAUS Case Law Citation: ABCAUS 2075 (2017) (09) HC The Challenge/Grievance: The petitioner …
Global Crude oil price of Indian Basket was Rs. 21.99 per Liter on 15.09.2017 The hike in Petrol Prices has become the latest issue questioning the Government. Today, the Biju Janata Dal (BJD) has also called a strike in Odisha over petrol and diesel prices. Media has claimed that …
GST Practitioners-A Guide by CBEC. Eligibility Criteria for becoming GST practitioner. Activities and Conditions for GST Practitioner GST Practitioners Section 48 of the CGST Act provides for the authorisation of an eligible person to act as approved GST practitioner. A registered person may authorise an approved GST practitioner …
Meaning and Scope of Supply under GST. Supplies in the course or furtherance of business only qualify as supply under GST The Meaning and Scope of Supply under GST The taxable event in GST is supply of goods or services or both. Various taxable events like manufacture, sale, …
Tax Invoice and other such instruments in GST. Serial number of invoices issued shall be furnished electronically through the Common Portal in Form GSTR-1 Tax Invoice and other such instruments in GST Introduction Generally speaking, an invoice is a commercial instrument issued by a seller to a buyer. …
Refunds Mechanism under GST-A Guide by CBEC. Every claim has to be filed online in a standardised form which will be acknowledged (if complete in all aspects) in 14 days. Refunds Mechanism under GST Introduction Timely refund mechanism is essential in tax administration, as it facilitates trade through the release …
