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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
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
Streamlining export data to include District level details in Shipping Bills
To, All Principal Chief Commissioners/ Chief Commissioners of Customs/ Customs (Preventive), All Principal Chief Commissioners/ Chief Commissioners of Customs & Central tax, All Principal Commissioners/ Commissioners of Customs/ Customs (Preventive), All Principal Commissioners/ Commissioners of Customs & Central tax, Madam/Sir, Subject: ‘Streamlining export data to
THE DIRECT TAX VIVAD SE VISHWAS BILL, 2020
THE DIRECT TAX VIVAD SE VISHWAS BILL, 2020 1. Short title. This Act may be called the Direct Tax Vivad se Vishwas Act, 2020. 2. Definitions. (1) In this Act, unless the context otherwise requires,— (a)”appellant” means the person or the income-tax authority or both
GST ON RENT A CAB
GST ON RENT A CAB Vide Notification 22/2019 dated 30.09.2019 Rent a cab become under RCM where Any person other than a body corporate, paying central tax at the rate of 5% on renting of motor vehicles with a limited input tax credit. But
file GSTR 9 and 9C without late fees till 12th Feb: Rajasthan high court
BIG Relief Direction to file GSTR 9 and 9C without late fees till 12th Feb by Hon’ble Rajasthan High Court in PIL filed by TBA, JODHPUR vs UOl In PIL No 1805/2020 Adv. Sanjay Jhanwar, Adv Rahul Lakhwani and Adv Prateek Gattani appearing for the
BUDGET 2020-21-The ` Maya’ jugglery’ for middle class.
BUDGET 2020-21-The ` Maya’ jugglery’ for the middle class. A record-breaking two hours and forty-five minutes of speech bettering her own last year`s record by half an hour by FM was the hight point of the budget this time. However, there were far fewer
GST Applicability on the supply of Ancillary Services in relation to the supply of Electricity
Case covered: Southern Power Distribution Company of AP Ltd. Facts of the case: 1. Applicant engaged in the distribution of electricity to consumers and also in the transmission of electricity from sub-stations and also make ancillary supplies such as connection, reconnection, supervision of the
CA Rachit AgarwalFeb 5, 2020E-Invoice under GST
E-Invoice under GST In Common parlance, the concept of E-invoicing (Electronic invoicing) is the exchange of the invoice document between a supplier and a buyer in an integrated electronic format. This is slightly different from the current Digital Invoice which is shared in a PDF/
OUTPUT OUTCOME FRAMEWORK 2020-21
OUTPUT OUTCOME FRAMEWORK 2020-21 (MAJOR CENTRAL SECTOR & CENTRALLY SPONSORED SCHEMES) Preface Major Expenditure Reforms have been undertaken by the Government over the last few years. This not only includes simplification of appraisal and approval processes, but also structural changes in the process of
UNION BUDGET 2020 Customs
UNION BUDGET 2020 Customs NEW Section 28DA FOR Free Trade Agreement (FTAs) ➢ A New Chapter VAA ( a new section 28DA) introduced to provide for enabling provisions for administering the preferential tariff treatment regime under Trade Agreements. ➢ The proposed new section seeks
Indirect Tax (GST) proposals in The Finance Bill, 2020
Indirect Tax (GST) proposals in The Finance Bill, 2020 Download the copy:
CMA Susanta Kumar SahaFeb 4, 2020