Remedies Against Abuse of Power By Income Tax Authorities Discretion Meaning • All statutory authorities have been vested with discretion in order to carry out the functions assigned to them under the Act. This discretion has to be exercised reasonably and for the purpose for
Quarterly Return Monthly Payment Scheme (QRMP) – New Facelift Volume: 2 A. Exordium The Central Board of Indirect Taxes & Customs (CBIC) vide Circular No. 143/13/2020-GST dated 10th November 2020 introduced Quarterly Return Filing and Monthly Payment of Taxes (QRMP) scheme under Goods and Services
Practical FAQ’s under GST Chapter 1 Supply and Levy Supply Q1. Whether the development of land under the Joint Development Agreement (JDA) constitutes a supply under GST? Ans. Development of Land: Land development is the act of altering the landscape in many ways from the
Important changes as per Notification No. 94/2020-CT dated 22-12-2020 Applicable from 1 January 2021 The registration Time limit for approval of GST Registration increased ⎯ The time for system-based registration has been modified from 3 days to 7 days. Now the grant registration would be
GST Amendments Notified on 22.12.2020 The Government has via Notification no. 94/2020-Central tax dated 22nd December 2020 made the following changes in CGST Rules, 2017: Restriction on use of amount available in Electronic Credit Ledger New Rule 86B has been inserted which restricts the use
Handbook on Returns and Payments under GST 1. Introduction ‘Remember to celebrate milestones as you prepare for the road ahead.’ And yes, it would be inappropriate if we don’t recall the most illustrious date 1st July 2017 – the date on which the most fancied
Handbook on Liability to Pay in Certain Cases under GST 1. Introduction India has adopted a dual GST model which means that both Central and State Governments will levy tax under GST. Where any default is made in the payment of any of these taxes,
Handbook on Finalisation of Accounts with GST Perspective: ICAI Chapter 1 Introduction 1.0 Finalisation of Accounts The term ‘Finalisation of Accounts’ refers to the process of planning and control of activities relating to the preparation of the Financial Statements of a business entity. There must
Case Covered: M/s. Jayachandran Alloys (P) Ltd. Versus The Superintendent of GST and Central Excise Facts of the Case: The petitioner is an Assessee before the respondent authorities, in terms of the provisions of the Central Goods and Services Tax Act, 2017, (in short ‘CGST
Case Covered: GGS Infrastructure Private Limited Versus Commissioner of CGST & Central Excise Facts of the Case: By filing this petition under Article 226 of the Constitution of India, the petitioner has sought the following reliefs:- (I) To set aside and quash the order in
