GSTR 3B Filing & 10% ITC Restrictions Rule 36 CGST I 20% ITC Rule I CA Satbir Singh Refer Rule – 36 CGST Rule 2017 Documentary requirements and conditions for claiming input tax credit
Section 165A Equalisation levy on e-commerce supply of services. AMENDMENTS TO THE FINANCE ACT, 2016 by Finance act 2020 from 01.04.2020 (ii) in section 164,— (A) after clause (c), the following clause shall be inserted, namely:— ‘(ca) “e-commerce operator” means a non-resident who owns, operates or manages digital or electronic facility or platform for online… Read More »
HC remanded matter to decide genuineness of exp. claimed as demurrages for delay in execution of projects HIGH COURT Estate v. Assistant Commissioner of Income-tax, Circle-1, Bangalore ALOK ARADHE AND RAVI V. HOSMANI IT APPEAL NO.34 OF 2010 JANUARY 10, 2020 A. Shankar and M. Lava, Advs. for the Appellant. K.V. Aravind and Dilip, Advs. for the Respondent. JUDGMENT Alok Aradhe, J. – Mr. A.… Read More »
No reassessment to treat unpaid loan as notional income under section 56 : HC It is clearly discernable that the AO has accepted genuineness of the loan transaction. The reasons are completely silent as to how, and on what basis, material or evidence, the AO has come to the conclusion that the loan transaction was… Read More »
GST Authorities can not seal godown until it had reasons to believe that goods stored were liable for confiscation HIGH COURT OF GUJARAT Anopsinh Kiritsinh Sarvaiya v. State of Gujarat J.B. PARDIWALA AND BHARGAV D. KARIA, JJ. R/SPECIAL CIVIL APPLICATION NO. 2705 OF 2020 FEBRUARY 6, 2020 Ms. Vaibhavi K. Parikh, for the Petitioner. Chintan Dave, Asstt. Government Pleader, for… Read More »
GSTR 4 Filing FY 2019-20 For Composition Taxpayer I CA Satbir Singh GSTR 4 Filing FY 2019-20 For Composition Taxpayer is mandatory. GSTR 4 has to be filed by Composition Taxpayer opting Section 10 of CGST act and paying Tax (3% CGST and 3% SGST) under Notification No. 02/2019-CT (Rate Video Explanation on GSTR 4… Read More »
Immediate Release of Income Tax Refund upto Rs 5 Lakh, GST and Custom Refund IT Department to release all pending income tax refunds up to Rs 5 lakhs immediately ; Around 14 lakh taxpayers to benefit All GST & CUSTOM refunds also to be released ; to provide benefit to around 1 lakh business entities… Read More »
No GST exemption because of Deemed University status as it is not Governmental Authority, : AAR The applicant has contended, vide the application, that there is an error apparent on the face of the record. Applicant has submitted that it has incorrectly been observed from the submission made by the applicant that Visvesvaraya National Institute of Technology… Read More »
N0 bail in GST if Taxpayer issued Fake Invoices There are serious allegations against the petitioner that fake invoices of approximately Rs. 931 crores involving GST of approximately Rs. 127 crores without movement of goods have been issued and input tax credit has been availed. HIGH COURT OF PUNJAB AND HARYANA Sanjay Dhingra v. Director… Read More »
No Attachment of Bank Accounts of Taxpayer in GST if supplier is not traceable During the pendency of any proceedings under section 62 (assessment of non-filers of returns) or section 63 (assessment of unregistered persons) or section 64 (summary assessment) or section 67 (inspection, search and seizure) or section 73 (determination of tax not paid… Read More »