CBIC Clarification on GST refund related issues. Deemed Export Supply, Calculation of Adjusted Total Turnover, relaxation for filing refund claim Circular No. 147/03//2021-GST CBEC-20/23/03/2020-GSTGovernment of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Indirect Taxes and CustomsGST Policy Wing New Delhi, Dated the 12th March, 2021 To, The Principal Chief …

CBDT amends statement of financial transaction (SFT) to include information relating to capital gains, dividend income, and interest income MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES) Notification No. 16/2021 New Delhi, the 12th March, 2021 G.S.R 175(E).—In exercise of the powers conferred by section 285BA read …

Earlier cash withdrawal can be explained as source for subsequent bank deposit of cash, provided there are no evidence to show that those withdrawals could not be available to as a source for subsequent deposits. ABCAUS Case Law CitationABCAUS 3471 (2021) (03) ITAT In the instant case, the …

ITAT remanded invocation of Section 115BBE denying set off of current year loss against income assessed u/s 68. ABCAUS Case Law CitationABCAUS 3470 (2021) (03) ITAT Important case law relied referred:Sumati Dayal v. CIT reported in (1995) 214 ITR 801(SC)CIT v. Durga Prasad More (1971) 82 ITR 540 …

ICAI further extends Condonation Scheme to regularize UDINs till 31.03.2021 Extension of Condonation Scheme to regularize UDINs The Condonation Scheme to regularize UDINs was announced by the ICAI by announcement dated 28th December 2020. As per the said scheme, the documents signed between 1st Feb.2019 till 31st Dec. …

CBDT clarifies Instruction on issue of notice u/s 148 for instances considered as potential cases F. No.225/40/2021/ITA-IIGovernment of India Ministry of Finance Department of RevenueCentral Board of Direct Taxes New Delhi, the  12th March,2021 All Principal Chief Commissioners of Income-tax Madam/Sir, Subject: Instructions regarding selection of cases for …