Internal Control System Review Checklist of GST Officer

By | July 16, 2019

QUESTIONNARE FOR REVIEW OF INTERNAL CONTROL SYSTEM AND WALK THROUGH. PURCHASES – INWARD SUPPLIES 1. Whether all purchases are centralised or de-centralised. If all purchases are authorised by few key persons like owner or Managing Director etc, it may require in-depth study of purchases. 2. Whether all the purchases are made only by issue of… Read More »

Category: GST

Corrigendum to Circular No. 102/21/2019 GST

By | July 15, 2019

Corrigendum to Circular No. 102/21/2019-GST CBEC/20/16/4/2018-GST Government of India Ministry of Finance Department of Revenue Central Board of Indirect Taxes and Customs GST Policy Wing New Delhi, Dated the 15th July, 2019 To, The Principal Chief Commissioners/ Chief Commissioners/ Principal Commissioners/ Commissioners of Central Tax (All) The Principal Director Generals/ Director Generals (All) Madam/Sir, Subject:… Read More »

Category: GST

Section 269SU Income Tax : Acceptance of payment through prescribed electronic modes. 

By | July 14, 2019

Section 269SU Income Tax : Acceptance of payment through prescribed electronic modes. Clause 59 of Finance Bill 2019 59. After section 269ST of the Income-tax Act, the following section shall be inserted with effect from the 1st day of November, 2019, namely:— Acceptance of payment through prescribed electronic modes.  “269SU. Every person, carrying on business,… Read More »

Penalty Increased for Misquoting of Aadhaar or PAN number from 01.09.2019 :Section 272B income tax

By | July 14, 2019

Section 272B after Amendment by Finance Bill 2019 w.e.f 01.09.2019 Penalty for failure to comply with the provisions of section 139A. 272B. (1) If a person fails to comply with the provisions of section 139A, the Assessing Officer may direct that such person shall pay, by way of penalty, a sum of ten thousand rupees. (2) If a… Read More »

Delay in Filing of TDS due to sudden Resignation of Accountant is ‘Sufficient Cause’: ITAT

By | July 14, 2019

Delay in Filing of TDS due to sudden Resignation of Accountant is ‘Sufficient Cause’: ITAT Sudip Roy Chowdhury vs. JCIT, TDS Case No. – 1890/Kol/2018 Date – 12.06.2019 Fact of the Case  In the present case the assessee is the sole proprietor of a partnership firm.  The income tax department has initiated proceedings… Read More »