Daily Archives: December 19, 2018

Pay GST on subscription & membership fee received for social welfare activities : AAR

By | December 19, 2018

“Charitable Activity” under GST is clearly defined under clause 2(r) of Notification No 12/2017-CT (Rate) dated 28.06.2017. The activities undertaken by the Applicant do not conform entirely to the definition. At best, the activities undertaken by the Applicant may be broadly defined as social welfare activities Such activity by an entity is an “adventure” and… Read More »

ITC of IGST paid on ‘bill to ship to’ model admissible : AAR

By | December 19, 2018

Whether ITC of IGST paid ‘bill to ship to’ model admissible to the applicant? Held Yes Rajasthan AAR UMAX Packing (A unit of UMA olymers Ltd.) RAJ/AAR/2018-19/23 dt:02.11.18 Download Ruling Click here Related Post Bill to Ship to under GST and Eway Bill : Analysis Bill To Ship To issues of Eway Bill Clarified by… Read More »

Stamp Papers do not have expiry date : Supreme Court Judgment

By | December 19, 2018

In the case of Thiruvengada Pillai Vs. Navaneethammal and Anr. Supreme Court (Writ Petition (Civil) No. 290 of 2001) dated 9.02.2008 held that the stamp papers do not have any expiry period. Supreme Court held that the Indian Stamp Act, 1899 nowhere prescribes any expiry date for use of a stamp paper. Section 54 merely provides that a person possessing a stamp… Read More »

Section 43B of Income Tax Act (updated) : Certain deductions to be only on actual payment.

By | December 19, 2018

Section – 43B Income-tax Act, 1961-2018 [Refer Also Section 43B disallowance under Income Tax Act ] Certain deductions to be only on actual payment. 43B. Notwithstanding anything contained in any other provision of this Act, a deduction otherwise allowable under this Act in respect of— (a)  any sum payable by the assessee by way of tax, duty,… Read More »

GSTN started sharing Mismatch data with tax authorities

By | December 19, 2018

GSTN started sharing Mismatch data with tax authorities GSTN has started work on BI & Analytics. Different scenarios of BI (Business Intelligence) have been identified on which work is going on such as Persona based Analysis, Predictive Analysis, Fraud/Anomaly Detection, Statistical Scoring, 360 degree view taxpayers, Circular Trading & Network Analysis etc. Further, GSTN has… Read More »

Bank statement is not books of accounts, sum credited is not unexplained cash credit : ITAT

By | December 19, 2018

Bank statement is not considered as books of accounts. Therefore, any sum found credited in the bank passbook cannot be treated as an unexplained cash credit. IN THE ITAT AHMEDABAD BENCH ‘C’ Smt. Ramilaben B. Patel v. Income Tax Officer MAHAVIR PRASAD, JUDICIAL MEMBER AND WASEEM AHMED, ACCOUNTANT MEMBER IT APPEAL NO. 3393 (AHD.) OF 2014… Read More »

Development of new return filing system by GSTN

By | December 19, 2018

Ministry of Finance Development of new return filing system by GSTN Posted On: 18 DEC 2018 GSTN will focus on the development of new return filing, further improving the user interface, and Business Intelligence and Analytics. While the new return is yet to be notified, GSTN has started development of the components in which major… Read More »

Category: GST

CAG Empanelment for 2019-20 for Chartered Accountant firms/LLPs

By | December 19, 2018

CAG Empanelment of Chartered Accountant firms/LLPs for the year 2019-2020. Online application available on CAG website from 1st January 2019 to 15 February 2019. OFFICE OF THE COMPTROLLER AND AUDITOR GENERAL OF INDIA 9, DEEN DAYAL UPADHYAYA MARG, NEW DELHI – 110 124 CAG Empanelment of Chartered Accountant firms/LLPs for the year 2019-2020 Notification Online Applications… Read More »

6 cases When Income Tax Notice is Invalid

By | December 19, 2018

When Income Tax Notice is Invalid Notice in name of deceased is invalid , No time limit for legal heirs to intimate death of assessee to Income Tax Department : MADRAS HC Reassessment Not Valid if Income Tax Notice not issued on officially notified address : CHHATTISGARH HC Income Tax Notice u/s 143(2) invalid as… Read More »