Addition u/s 41(1) made on the ground of untraceable creditors-the liability had not ceased or any advantage was taken. High Court upheld deletion made by ITAT ABCAUS Case Law Citation: ABCAUS 2240 (2018) (03) HC The Revenue was aggrieved by the order of the Income Tax Appellate Tribunal …

Cenvat credit on inputs lost during storage upheld by High Court as the Revenue in a similar case was not successful before the Supreme Court   ABCAUS Case Law Citation: ABCAUS 2239 (2018) (03) HC The Excise Department had preferred the instant appeal before the High Court under Section …

Recommendations regarding Data Analytics made during the 26th meeting of the GST Council  In the 26th meeting held here today , the GST Council has been apprised of the fact that CBEC and GSTN have started detailed data analytics across a number of data sets available with them. The …

Recommendations regarding E-way Bill made during  meeting of the GST Council  In the 26th meeting held here today , the GST Council has recommended the introduction of e-way bill for inter-State movement of goods across the country from 01st April 2018. For intra-State movement of goods, e-way bill system …

GST Reverse charge mechanism deferred till 30.06.2018 as per recommendations made in 26th meeting of the GST Council. Highlights of the decisions taken   I. Return filing System The present system of filing of GSTR 3B and GSTR 1 is extended for another three months i.e., April to June, …

26th Meeting of the GST Council meets & decides Extension of tax exemptions for exporters for six months  Sending a strong positive signal to the exporting community, the GST Council in its 26thmeeting held here today decided to extend the available tax exemptions on imported goods for a …