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Announcement for ICAI Exams
Announcement for ICAI Exams The Institute of Chartered Accountants of India [Set up by an Act of Parliament] Post Box No.7112, ICAI BHAWAN, Indraprastha Marg New Delhi – 110002 15th June 2020 Important Announcement During the last few days, we have received the mixed expression
Cost Inflation Index For FY 2020-21 Notified
Ministry of Finance (Department of Revenue) (Central Board of Direct Taxes) Notification New Delhi, the 12th June 2020 Income-Tax S.O.1879(E).- In exercise of powers conferred by clause (v) of the Explanation to Section 48 of the Income Tax Act, 1961 (43 of 1961), the Central
New Delhi Television Ltd. Vs. Deputy Commissioner of Income Tax
A. What it is about? In a major relief to media company New Delhi Television Ltd (NDTV), the Supreme Court on 03.04.2020 allowed its appeal to quash the notice issued by the Income Tax Department seeking to re-open it income assessment for the financial
CA Udit SwamiJun 13, 2020Bombay HC in the case of Principal Commissioner of Income Tax Versus Alag Securities Pvt. Ltd.
Case Covered: Principal Commissioner of Income Tax Versus Alag Securities Pvt. Ltd. Facts of the case: This appeal under Section 260-A of the Income Tax Act, 1961 (briefly ‘the Act’ hereinafter) has been preferred by the Revenue assailing the order dated 18.11.2016 passed by the
Basics of Returns under GST
Basics of Returns under GST This presentation is on the Basics of Returns under GST. It is drafted by CA Venugopal Gella. This presentation covers the basic details regarding various returns and their legal provisions, such as: GSTR 1 is a Monthly/Quarterly Return that should be
CA Venu Gopal GellaJun 12, 2020Whether Property Can be Provisionally Attached U/s 83 of CGST Act, 2017 by State Tax Officer Who Has Been Authorized To Conduct Raid at Premises of Assessee.
Whether Property Can be Provisionally Attached U/s 83 of CGST Act, 2017 by State Tax Officer Who Has Been Authorized To Conduct Raid at Premises of Assessee. VALERIUS INDUSTRIES VS UNION OF INDIA PETITIONER: VALERIUS INDUSTRIES RESPONDENT: UNION OF INDIA Facts of the case: The
Quasi-Judicial Authorities Must Record Reasons While Passing Order
Quasi-Judicial Authorities Must Record Reasons While Passing Order 1: Siemens Engineering and Manufacturing Co. of India Ltd. v. The Union of India MANU/SC/0211/1976: AIR 1976 SC 1785, the SC held that it is far too well settled that an authority who is in making an
Advocate Pradeep KumarJun 12, 2020Blocking of Electronic Credit Ledger
Blocking of Electronic Credit Ledger Blocking of the Credit Ledger as the term clarifies that the Credit Ledger has been Blocked. In other words, the assessee being refrain to make the payment of the output tax from the credit of the input tax on goods
CA Rachit AgarwalJun 12, 2020Critical Issues of GST
Critical Issues of GST This presentation is on the Critical Issues of GST. It is drafted by Advocate PK Mittal. This presentation covers the various issues in GST and various judgements in this regard. Coverage: Definitions Issues Judgements Definitions Covered: Section 7 of CGST Act,
Advocate Pradeep KumarJun 12, 2020Waiver of GSTR 3b late fees: Conditions apply
What GST council recommended for the Waiver of GSTR 3b late fees GST council agreed for a waiver of GSTR 3b late fees. Today GST council recommended for relief from GSTR 3b late fees. It is a long issue. Many taxpayers were aggrieved from the huge
CA Shafaly GirdharwalJun 12, 2020GST Insight on Recent Notifications and Circulars
Notifications issued as on 9th June 2020 1. Notification 45/2020 dated 9th June 2020 The transition procedure prescribed by CBIC to ascertain tax period, to transfer ITC and taxes for persons whose place of business was in the erstwhile Union Territory of Daman and Diu
CA Udit SwamiJun 11, 2020GST on Directors Remuneration: Circular No: 140/10/2020
What will be the liability under GST on Directors Remuneration It is one of the complicated issues of GST. Recent AAR’s made it even more complex. AAR in case of Clay craft rejected it as a part of schedule III. GST on Directors Remuneration is clarified