Daily Archives: March 22, 2019

GST on Interest on short term loan charged by Del Credere Agent : AAR Ruling

By | March 22, 2019

APPELLATE AUTHORITY FOR ADVANCE RULING, GUJARAT Shreenath Polyplast (P.) Ltd., In reAJAY JAIN, MEMBER ADVANCE RULING (APPEAL) NO. GUJ/GAAAR/APPEAL/2018/2 JULY  24, 2018  Bhavesh S. Lakhani and Pravin Dhandhariya, CA for the Applicant. Dr. Prasad Varwantkar for the Respondent. RULING (AJAY JAIN, MEMBER )   M/s. Shreenath Polyplast Pvt. Ltd. raised the following questions for advance ruling – “Whether an amount charged as… Read More »

Rate of Exchange of conversion of Foreign Currencies notified w.e.f 21.03.2019

By | March 22, 2019

Ministry of Finance Rate of Exchange of conversion of the Foreign Currencies notified Posted On: 22 MAR 2019 1:17PM by PIB Delhi In exercise of the powers conferred by Section 14 of the Customs Act, 1962 (52 of 1962), and in supersession of the notification of the Central Board of Indirect Taxes and Customs (CBIC) No.21/2019-CUSTOMS (N.T.),… Read More »

Can you pay Tax & Penalty from ITC Ledger for non-generation of Eway Bill

By | March 22, 2019

Can you pay Tax & Penalty from ITC Ledger for non-generation of Eway Bill ई-वे बिल की पेनल्टी Refer Eway Bill : Free Video Lectures and Study Material Circular No 41/15/2018 GST Dated 13th April, 2018 (h) Where the owner of the goods or any person authorized by him comes forward to make the payment… Read More »

Notice can not be issued in name of dead person to reopen assessment : HC

By | March 22, 2019

HIGH COURT OF BOMBAY Sumit Balkrishna Gupta v. Assistant Commissioner of Income-tax, Circle 16(2), Mumbai*AKIL KURESHI AND M.S. SANKLECHA, JJ. WRIT PETITION NO. 3569 OF 2018 FEBRUARY  15, 2019  Satish Mody and Ms. Aasifa Khan for the Petitioner. Suresh Kumar for the Respondent. JUDGMENT 1. At the request of the parties, this petition is taken up for final disposal at this stage. 2. This… Read More »

‘HUDCO’ Notified for TDS exemption u/s 194A of Income Tax

By | March 22, 2019

MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 20th March, 2019 No. 26/2019 S.O. 1399(E).—In exercise of the powers conferred by sub-clause (f) of clause (iii) of sub-section (3) of section 194A of the Income-tax Act, the Central Government hereby notifies the Housing and Urban Development Corporation Ltd.… Read More »

Changes in GST Effective From 1st April 2019

By | March 22, 2019

Changes in GST Effective From 1st April 2019 Article discusses changes in 1. GST Provisions related to Threshold Limit for Registration in case of goods , Services and ZBOth Goods & Services 2. Changes in GST Composition Scheme 3. Supply with or without consideration – treated as supply under GST, Changes in TCS Provisions and… Read More »

TDS on Year End Provisions

By | March 22, 2019

TDS on Year End Provisions Here are the Relevant Judgments on TDS on year end Provisions under Income tax Apply TDS u/s 194J on provision for Audit Fees :ITAT Chennai No TDS liability on Provisions at year end if payee not identifiable : ITAT No TDS on GST Paid / Payable on Services if Shown Seprarately… Read More »