APPEALS UNDER GST Sponsored Book BUY Appeals against adjudication order GST Model Law, 2016 makes provisions in respect of appeals against orders passed by adjudicating authority. The CGST law makes provisions of first appeal before ‘First Appellate Authority’ and second appeal before ‘National Goods and Service Tax Appellate Tribunal’ (Appellate Tribunal). In CGST, as per… Read More »
OFFENCES AND PENALTIES UNDER GST Sponsored Book BUY Offences under GST Law Following are offences under GST Law. Penalties can be imposed by departmental authorities to person committing the specified offence. As per clause 66(1) of Model GST Law, 2016, Where a taxable person who — (i) supplies any goods and/or services without issue of… Read More »
Employees’ Provident Fund Organisation Bhavishya Nidhi Bhawan,14- Bhikaji Cama Place, New Delhi -110066 No. C-Ex/32(1)/15/BR/SRO/MUZ/CE/EZ/10249 dated 05/09/2016 To All Addl. Central P.F. Commissioners (Zones) , All Regional P. F. Commissioners , Regional Offices/Sub-Regional Offices. Subject: Verification of Closed Exempted/Relaxed Establishments- Regarding. Sir, Please refer to the subject cited above. Recently a reference was received from… Read More »
REFUND IN GST Sponsored Book BUY Refund of tax and interest under GST Any person claiming refund of any tax and interest, if any, paid on such tax or any other amount paid by him, may make an application in that regard to the proper officer of IGST/CGST/SGST before the expiry of two years from… Read More »
GST in renewables: Consultation is the need of the hour India recently passed the Constitutional Amendment Bill 2014, also known as the GST (Goods and Services Tax) Bill. The 122nd amendment to the Indian Constitution is the first step that the country is taking towards simplifying the taxation regimen. The GST, once implemented, will be… Read More »
HIGH COURT OF CALCUTTA Director of Income-tax, (International Taxation), Kolkatta v. ATN International Ltd. GIRISH CHANDRA GUPTA AND ARINDAM SINHA, JJ. IT APPEAL NO. 734 OF 2008 JULY 29, 2016 M.P. Agarwal and Mrs. Anwara Quereshi, Advocates for the Appellant. J.P. Khaitan, Sr. Advocate, Pranit Bag, M.S. Tiwari and A.K. Sukla, Advocates for the Respondent.… Read More »
DEMANDS AND RECOVERY UNDER GST BUY Demands for tax short paid or not paid or erroneously refunded ( Clause 51 of Model GST Law) Since tax is payable on self assessment basis, it is possible that the taxable person may not have correctly paid the tax or may not have paid the tax at all.… Read More »
Special Investigation Team (SIT) on Black Money asks RBI to develop institutional mechanism to track illicit financial flows out of country in light of identified gaps in the regulatory framework. Chairman, Special Investigation Team (SIT) on Black Money, appointed by the Hon’ble Supreme Court, in a letter dated 11.08.2016, to Governor, RBI has impressed upon… Read More »
Date : Sep 05, 2016 Dr. Urjit R. Patel assumed charge as the twenty-fourth Governor of the Reserve Bank of India effective September 4, 2016 after serving as Deputy Governor since January 2013. He was re-appointed as Deputy Governor on January 11, 2016 after completion of his first three-year term of office. Among his assignments… Read More »
Income Declaration Scheme 2016 – Government issues Clarifications in the form of Sixth Set of Frequently Asked Questions (FAQs) The Income Declaration Scheme, 2016 (the Scheme) provides an opportunity to persons who have not paid full taxes in the past to come forward and declare their undisclosed income and assets. The Scheme has come into… Read More »