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. …
