Author: administrator
Facility for Cancellation of Provisional Registration by migrated taxpayers has been enhanced on the GST Portal. Now migrated taxpayers, who have made payments/issued invoice/filed other forms, will be stopped from cancelling their Provisional Registration. This enhancement will avoid inadvertent cancellations of registration by the Migrated Taxpayers. In case, …
CCIT responsible for CIT-A working and quality of orders. CIT-Appeals should abide by CBDT instructions for timely issue/dispatch of appellate orders. CBDT has stated that failure of the Chief Commissioners of Income Tax to conduct regular inspections of the CIT (Appeals) working under them or failure to keep a watch …
Income Tax Department has issued an advisory for payment of monthly rent over Rs. 50000/- ITD has cautioned individuals/HUFs (except those liable tax audit u/s 44AB(a) and (b), paying rent to a resident in excess of Rs. 50000/-. The ITD has advised such payers to deduct TDS @ 5% …
Refund of integrated tax paid on account of zero rated supplies-Flyer by NACIN With a view to sensitize the trade on the issue of IGST refund National Academy of Customs, Indirect Taxes & Narcotics (NACIN) Mumbai has developed a flyer on ‘Refund of integrated tax paid on account of …
Insolvency and Bankruptcy Board of India (IBBI) invites comments on draft IBBI (Mechanism for Issuing Regulations) Regulations, 2018. Comments may be e-mailed at feedback@ibbi.gov.in by 31st March, 2018, with subject line “Mechanism for Issuing Regulations”. The Insolvency and Bankruptcy Code, 2016 (Code) is a modern economic legislation. Section …
Penalty limitation period not gets extended if appeal is withdrawn by the Department. Appeal means an effective appeal and an appeal withdrawn is an appeal non est-High Court ABCAUS Case Law Citation: ABCAUS 2235 (2018) (03) HC The appellant assessee was aggrieved by the order of the ITAT …
Retrospective amendment in Foreign Contribution Regulation Act 2010-Who will be benefited? Political parties cannot receive contribution from any foreign source as defined under Clause (c) of Section 2 of the FCRA, 1976. Section 29 B of the Representation of the Peoples Act, 1951 also prohibits political parties from …
GSTR-5A late fee waiver notification rescinded. Now furnishing of Form GSTR-5A after due date shall attract prescribed late fee. Central Board of Excise and Customs (CBEC) vide Notification No. 6/2018-Central Tax New Delhi, the 23rd January, 2018 had waved the amount of late fee payable for failure to …
Revised E-way Bill Rules, Lasf date for GST TRAN-2 extended to 31st March, 2018. CGST Second Amendment Rules 2018 CBEC has notified Central Goods and Services Tax (Second Amendment) Rules, 2018 vide Notification No.12/2018 – Central Tax dated 7th March, 2018. The Notification has amended Central Goods and Services Tax Rules, …
Agreement with other Countries on Money Laundering Information. Indian Government has entered into agreements with over 130 countries including tax havens The Government of India has entered into Double Taxation Avoidance Agreements (DTAAs), Tax Information Exchange Agreements (TIEAs) and Multilateral Convention on Mutual Administrative Assistance in Tax Matters …
