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CBIC instructions for recovery of interest on net cash tax liability under GST F. No. CBEC- 20/01/08/2019-GSTGovernment of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Indirect Taxes and CustomsGST Policy Wing Room No. 159A,North Block, New Delhi, Dated: 18th September, 2020 To,The Principal Chief Commissioners/Chief Commissioners/Principal Commissioners/Commissioners of Central …
CBIC has amended Bill of Entry Forms I, II & III The Bill of Entry (Forms) (Amendment) Regulations 2020 The Bill of Entry to be presented by an importer of any goods for home consumption or for warehousing or for ex-bond clearance for home consumption shall be in …
Notice u/s 148 for cash deposit after preliminary enquiry was valid as assessee was a non-filer and failed to respond ABCAUS Case Law Citation ABCAUS 3397 (2020) (09) ITAT Important case law relied upon by the parties: Vinod Commodities Ltd. Vs. ACIT (2019) 182 DTR 49 (Jodh) Sh. …
Guidelines-Income Tax compulsory selection of returns for Complete Scrutiny during Financial Year 2020-21 & conduct of assessment proceedings Guidelines-Income Tax compulsory Complete Scrutiny FY 2020-21 F.No.225/126/2020/ITA-IIGovernment of India Ministry of Finance Department of RevenueCentral Board of Direct Taxes (ITA-II division) North Block, New Delhi, the 17th September, 2020 …
Revision u/s 263 to exclude issues settled in Vivad se Vishvas Scheme 2020. ITAT directs AO not to consider capital gains from penny stock while passing fresh order ABCAUS Case Law CitationABCAUS 3396 (2020) (09) ITAT Important case law relied upon by the parties:Price Water House vs ACIT …
GST e-invoice System – FAQs A.E-invoice -Basics: 1. What is ‘e-invoicing’? As per Rule 48(4) of CGST Rules, notified class of registered persons have to prepare invoice by uploading specified particulars of invoice (in FORM GST INV-01) on Invoic e Registration Portal (IRP) and obtain an Invoice Reference …
CA making application for ICAI membership/restoration of name after a period of three years from passing final exam/removal of name to pass Assessment THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA NOTIFICATION New Delhi, the 14th September, 2020 No.1-CA(7)/195/2020.—The following draft of certain regulations further …
Violation of provisions of Company Law by Companies and action taken by MCA. Today, Union Minister of State for Finance & Corporate Affairs, in response to a written question in the Lok Sabha informed about the action taken by the MCA on companies that have violated the provisions …
Enabling on e-invoice GST portal. Taxpayers required to prepare invoice in terms of Rule 48(4) of CGST Rules may request for enablement. Enabling on e-invoice GST portal – GSTN Advisory Certain taxpayers are required to prepare gst e-invoice in terms of Rule 48(4) of CGST Rules (e-invoicing). As …
Banks to automate Income Recognition, Asset Classification & Provisioning processes Reserve Bank of India (RBI), in order to ensure the completeness and integrity of the automated Asset Classification (classification of advances/ investments as NPA/NPI and their upgradation), Provisioning calculation and Income Recognition processes, has advised banks to put …
