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Transitional credit: SOP by Commissioner
To, The Principal Chief Commissioners/Chief Commissioners of Central Tax Madam/Sir, Sub- Transitional Credit- Ensuring uniformity in the procedure to be followed by the field formations for examining and forwarding the representations of the taxpayers to GSTN on issues pertaining to technical glitches on the common
GSTN portal update:The format of GST ITC-04 amended vide Notification No. 39/2018 is updated on portal
The format of GST ITC-04 amended vide Notification No. 39/2018 is updated on portal To furnish details of goods/ capital goods sent to a job worker and received back or supplied from the premises of the job worker. The format of GST ITC-04, as amended
Madras HC allows Benefit of DEPB/Duty Drawback under Import-Export Policy in case of 100% EOUs
Case covered: The Central Board of Excise and Customs Versus M/s.K.G.Denim Limited Prayer: Appeals filed under Clause 15 of the Letters Patent Act, praying to set aside the common order dated 14.11.2017 passed by this Court in W.P.Nos.11645 to 11648 of 2003. Common Judgment: Having
Amendments to CGST Act 2017 as brought in by Finance Bill 2020
Amendments to CGST Act 2017 as brought in by Finance Bill 2020 All the amendments mentioned below are effective from the date to be notified. 1. Insertion in Section 2(114) of CGST Act 2017: Definition of Union Territory “Union territory” means the territory of—
Exemption for goods reimported into India.
Notification No. 45/2017 – Customs G.S.R. (E).-In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962) the Central Government, on being satisfied that it is necessary for the public interest so to do, hereby
NO TAX & PENALTY U/S 129 OF GST FOR NON-GENERATION OF E-WAY BILL
NO TAX & PENALTY U/S 129 OF GST FOR NON-GENERATION OF E-WAY BILL Whether non-generation / non-carrying of E-way bill 01 is a contravention of the GST Act or Rules? In pursuance of such non-carrying of the E-way bill, goods and conveyance are liable
The government has filed an SLP against the order of Rajasthan high court.
The government has filed an SLP against the order of Rajasthan high court. The ruling extended the date of GSTR 9 & 9C filing without late fees up to 12th Feb. Earlier Rajasthan high court ordered filing of 9 & 9C without a late
Two important cases of Income-tax
CASE-I Case covered: Pr. Commissioner of Income Tax -1 .. Appellant Versus M/s. Ami Industries (India) P Ltd .. Respondent Facts of the case: This appeal under Section 260A of the Income Tax Act, 1961 (“the
Valuation of second-hand machinery: Circular No. 07/2020
To, All Principal Chief Commissioners/Chief Commissioners of Customs, Principal Directors General/Directors General of Customs, Principal Commissioners/Commissioner of Customs. Madam/Sir, Subject: Valuation of second-hand machinery – for Customs Representations have been received from trade regarding Circular No. 25/2015 – Customs dated 15th October 2015 on the
Best Analysis of Union Budget – 2020
Bird’s Eye View of Finance Bill, 2020 Old law: A citizen of India or PIO, who is outside India and comes to India on a visit is treated as resident in India if his stay during the PY is 182 days or more. New law: Shall be
Increase in Tax Audit Limit will not have much impact
1) The increase in Tax Audit threshold to Rs 5 Crores from Rs 1 Crores u/s 44 AB will not have much of impact as the GST audit limit is Still Rs. 2 Crores. 2) There is no amendment in Section 44 AD that
Tax Liability on Issue of Gift Vouchers.
Case covered: Kalyan Jewellers India Ltd Issue Involved: Tax Liability on Issue of Gift Vouchers. Applicant Contention: 1. KJIL, as part of sales promotion, introduced the facility of issuing different types of Pre-Paid Instruments (hereinafter referred to as PPI’s). These PPIs are generally called