Accounts and Records – Statutory Provisions Section 35 – Accounts and other records Section 36 – Period of retention of accounts and records Rules 56 – Maintenance of accounts by registered persons Rule 57 – Generation and maintenance of electronic records Rule 58 – Records
Show Cause notice “Tax laws are the most imaginative fiction being written today. Audi Alteram Partem It is a time-tested principle of natural justice i.e. Audi alteram partem meaning ‘let the other side be heard’ that no person can be adjudged guilty without being given
[In Part I, we had a brief look at the 4 (four) conditions prescribed in clauses (a) to (d) of S. 16(2) of the CGST Act, 2017 which are in force as of the date and which a taxpayer is required to fulfill so
Case Covered: Uttar Pradesh Power Transmission Corporation Ltd. Versus CG Power And Industrial Solutions Limited Facts of the Case: This Special Leave Petition, under Article 136 of the Constitution of India, filed by the Petitioner, hereinafter referred to as the UPPTCL, is against a final
Circular No. 10/2021 F. NO. 225/49/2021/ITA-II Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi, Dated 25th May 2021 Subject: Clarification regarding the limitation time for filing of appeals before the CIT(Appeals) under the Income-tax Act, 1961 (the
To, The Principal Chief Commissioners / Chief Commissioners of Central Tax Madam / Sir, Subject: Guidelines regarding cancellation of Registration under Rule 22 (3) of CGST Rules, 2017- Reg. Kind attention is invited to Rule 22 (3) of CGST Rules, 2017 regarding the procedure
MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 24th May 2021 G.S.R. 338 (E).— In exercise of the powers conferred by section 50B read with section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board
The Code on Wages, 2019 subsumes Four Labour Laws, i.e. Payment Of Wages Act 1936, Minimum Wages Act 1948, Payment Of Bonus Act 1965 And Equal Remuneration Act 1976. This Code contains some important provisions which have far-reaching implications. These provisions are discussed herein.
Case Covered: M/s Golden Mesh Industries Vs. Assistant Commissioner State Tax Issue: Whether the best judgement order can be passed without stating by which method the principal amount arrived at the best of their knowledge? Whether penalty can be levied without mentioning under which section
Case Covered: Roshni Sana Jaiswal Vs. Commissioner of central taxes GST Delhi Issue: Whether bank account of a director of the company can be provisionally attached where proceeding u/s 67 of the act was initiated against the company and not against the director? Brief Facts
