we are of the opinion that share applicant entities are paper entities created by some individuals for providing entries to the persons including the assessee, not having tax paid capital for promoting their ventures. As the entries of credit are appearing in the books of the assessee, it was the onus of the assessee to… Read More »
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 »
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 »
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 »
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 »
In Finance Act 2019 finance minister of India has announced that no tax will be paid on Total Income up to Rs. 5 lakhs. There is misconception that the income tax slabs have been increased for FY 2019-20 (AY 2020-21) , whereas As per Finance act 2019, rate of the income tax are same .… Read More »
Impact if wrong HSN Code in Eway Bill Video Analysis by CA Satbir Singh in Hindi what is the impact if wrong HSN Code entered at time of making eway bill & mistake is realized after 24 hours . How to fix problems . Answer : GST Rates of Goods depends on HSN codes. If wrong HSN code… Read More »
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 »
New GST Registration limits from 1.04.2019 जीएसटी रजिस्ट्रेशन के लिए नए नियम लागु
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 »