Author: administrator

GST Exempted Services and Services with lower GST rates from 25th January 2018  

President to award Appreciation Certificate to 44 Officers of CBEC for Specially Distinguished Record of Service. The certificates to be awarded on the occasion of Republic Day 2018 Every year, the officers and staff of the Central Board of Excise & Customs (CBEC) Department are considered for grant of Presidential …

CBDT Compounding of offences Guidelines not illegal or arbitrary. Principle of proportionality also not apply as fee is paid to avoid punishment for a criminal offence-High Court Chapter XXII of the Income Tax Act, 1961 (the Act) deals with Offences and Prosecution. Section 279(2) provides that any offence …

Central Goods and Services Tax Rules, 2017 has been amended by the Central Goods and Services Tax (Amendment) Rules, 2018 by Notification No. 3/2018-Central Tax dated 23rd January, 2018. with effect from 1st February, 2018, for the existing rule 138, new rule 138 shall be substituted as under: Rule 138 …

Government has amended the Central Goods and Services Tax Rules, 2017 by the Central Goods and Services Tax (Amendment) Rules, 2018 by Notification No. 3/2018-Central Tax dated 23rd January, 2018. A new Rule 31A has been inserted for determination of value of supply in case of lottery, betting, …

Additions made due to typing error in Form 3CD is not legally permissible where auditor of the assessee inadvertent committed mistake mentioning wrong amount of profit-ITAT ABCAUS Case Law Citation: ABCAUS 2176 (2018) (01) ITAT The Challenge/Grievance: The assessee was aggrieved by the order of the CIT(A) confirming …

The Income Tax Department has issued an advisory/warning for cash transactions in excess of prescribed limits.  DO NOT ACCEPT cash of Rs. 2,00,000/- or more in aggregate from a single person in a day or for one or more transactions relating to one event or occasion. DO NOT …

Assessee cannot be penalized for non response or non attendance by creditors in response to notice when all details regarding creditors were furnished discharging the onus. If some enquiry was not completed by AO, the CIT(A) could have also undertaken necessary exercise-ITAT ABCAUS Case Law Citation: ABCAUS 2175 …

No requirement to file Form-10B at the time of registration u/s 12AA. Audit Report in Form 10B is to be filed along with return of income. Rejection application for Registration saying that mere recital of objects or activities without cogent or corroborative evidence not sufficient was wrong when …

Educational qualification and age limit for TRP relaxed, incentive increased, non-refundable deposit made compulsory as per Return Preparer (Amendment) Scheme, 2018   Government of India has designed the Tax Return Preparer Scheme (TRP Scheme) to assist small and medium taxpayers in preparation of their return of income and other …