ITC on Lease Hold Land Payment Q: Can we avail ITC on lease hold land payment made upront for 20 years, and to be capitalized in books. Author Opinion : Yes you can avail ITC on Lease Hold Land Payment if it is in relation to business , even if it is capitalised . ‘The… Read More »
Since the petitioner is a registered company and the purchaser is a Government of India Enterprise, this Court finds it proper and appropriate to protect the interest of parties to pass the following orders:— 1. The goods are directed to be released on furnishing an indemnity bond to the extent of the value of tax… Read More »
AUTHORITY FOR ADVANCE RULINGS, MADHYA PRADESH Sasan Power Ltd., In re RAJIV AGRAWAL AND MANOJ KUMAR CHOUBEY, MEMBER ADVANCE RULING NO. 1 OF 2018 JUNE 6, 2018 Gopal Mundra, Ravi Ghiyani and Mrs. Laxmi Vyas for the Applicant. ORDER 1. Brief facts of the case 1.1 M/s. Sasan Power Ltd., Sasan (hereinafter referred to as “the Applicant”), are engaged in the business of… Read More »
Pradhan Mantri MUDRA Yojana Pradhan Mantri MUDRA Yojana (PMMY) is a scheme launched by the Hon’ble Prime Minister on April 8, 2015 for providing loans up to Rs10 lakh to the non-corporate, non-farm small/micro enterprises. These loans are classified as MUDRA loans under PMMY and cater to specific stages of growth of a micro entrepreneur.… Read More »
GSTR 3B Late Fee GSTR 3B Late fee has been waived for some months and reduced for some months by Govt. here are the compilation of Relevant Notifications on GSTR 3B late fee. What is the late Fees for not filing GSTR 3B on due dates ? GSTR 3B Late Fees for July 2017 to September… Read More »
E-Way Bill System Forthcoming changes/improvements in E-Way Bill System Explained in Hindi by CA Satbir Singh After studying the suggestions and feedbacks of the stakeholders of the e-way bill system, it has been decided to add the following changes/improvements in the e-way bill system to help the tax payers in complying with the GST processes and… Read More »
GST Annual return for Composition Scheme Dealer CBIC has notified GST Annual return (GSTR 9A ) for Composition Scheme Dealer by Notification No 39/2018 Central Tax Dated 4 th September, 2018 : CGST Eighth Amendment Rules 2018
Documents details to claim GST Input Tax Credit : Amendment Before Amendment : Documents to Claim GST Input Tax Credit Rule 36 CGST Rules 2017 :Documentary requirements and conditions for claiming input tax credit ………. (2) Input tax credit shall be availed by a registered person only if all the applicable particulars as specified in… Read More »
Amendments to Reserve Bank of India (Note Refund) Rules, 2009 RBI/2018-19/46 DCM (NE) No.657/08.07.18/2018-19 September 7, 2018 The Chairman and Managing Director / The Managing Director/ The Chief Executive Officer All Banks Madam / Dear Sir, Amendments to Reserve Bank of India (Note Refund) Rules, 2009 Please refer to the Reserve Bank of India (Note Refund)… Read More »
Whether any penalty is payable, if the self-assessed tax or any amount collected as tax is not remitted? Yes. Penalty shall be leviable under section 73(11) , where the self-assessed tax or any amount collected as tax is not paid within 30 days from the due date of payment of such tax. Quantum of penalty… Read More »