GST liability in case of Transfer of Business Section 108 of Model GST law of India covered Liability in case of transfer of business Transfer of Business Where any person liable to pay tax, transfers his business in whole or part, by sale, gift, lease, leave and license, hire, or in any other manner, then… Read More »
Liability of guardians, trustees etc under GST Section 112 of Model GST Law covers the Liability of guardians, trustees etc Where the business in respect of which any tax is payable is carried on by any guardian / trustee / agent of a minor or other incapacitated person on behalf of and for the benefit of… Read More »
Liability of Company in liquidation under GST In case where a company, being a taxable person goes into liquidation or is being wound up and there are unpaid tax dues determined before or after such liquidation, every person who was a director of the company during the period for which the tax was due, shall… Read More »
Liability of Partners of the Firm under GST All the partners of any firm shall jointly and severally liable for payment of any tax, interest or penalty. Firm or partner shall intimate the retirement of any partner to the Commissioner by a notice in writing. Liability to pay tax, interest or penalty up to the… Read More »
Interrogation Investigation: Issuance of Summons and Recording of Statement 1. Introduction: 1.1 Investigation means search for material and facts in order to find out whether or not an offence has been committed. Establishing an offence depends entirely on effective and meticulous investigation. Customs authorities are empowered to investigate offences under the Customs Act and allied… Read More »
Concept of Call Book in Indirect Taxes Abbreviations Used ATN: Action Taken Note C &AG: Comptroller and Auditor General CBEC: Central Board of Excise and Customs CERA: Central Excise Revenue Audit CESTAT: Customs, Excise and Service Tax Appellate Tribunal CRA: Customs Revenue Audit. DARPG: Department of Administrative Reforms and Public Grievances LAR: Local Audit Report… Read More »
Brief Facts of the Case:- Assessing Officer,passed Order on 15.3.2016 .On 16.3.2016, the assessee filed application for settlement before the Settlement Commission at Mumbai. Whether the order of assessment would be deemed to be pending for purpose of maintainability of settlement application just because such order was not dispatched or served? Held For the purpose… Read More »
SUPREME COURT OF INDIA Union of India v. Indusind Bank Ltd. C. NAGAPPAN AND R.F.NARIMAN, JJ. CIVIL APPEAL NOS. 9087-9089 OF 2016 SEPTEMBER 15, 2016 Ms. Manita Verma, Vibhu Shankar Mishra, R.K. Rathore, Arvind Kumar, Raj Bahadur Yadav, M.K. Maroria, Ms.Shruti Srivastava and Shreekant N. Terdal, Advs. for the Petitioner. Pranab Kumar Mullick, Mrs.… Read More »
Held According to both the assessees, their brothers were residing in the house owned by them and while selling the house in order to get vacant possession, payment of Rs. 21 lakhs was made by Shri Nanubhai Keshavlal Chokshi, HUF in his case, and Rs. 31 lakhs in the case of Shri Lallubhai Keshavlal Chokshi,… Read More »
Handbook on Internal Auditing Handbook on Internal Auditing : Description & Features Publisher: Bharat Law House; 2016 edition (2016) Language: English Guidance on Internal Financial controls over Financial reporting u/s 143(3) (i) of the Companies Act, 2013 • Audit Risk and enterprise Risk Management [ERM] • Internal Audit and Corporate Governance • Internal Audit Questionnaires… Read More »