Notice under Section 74 can not be issued just mentioning of mismatch in GST Returns Facts of the case GST officer raised demand under section 74 because There is mismatch between GSTR-3B and GSTR 2A, A summary of show-cause notice as issued in Form GST DRC-01 in terms of Rule 142(1) of the JGST Rules,… Read More »
Password For Conso File downloaded from Taces TDS Password For Conso File is ‘TAN_<Request Number>’ (e.g. ABCD12345E_67890). Request Number should be of the request submitted for Conso File
Ministry of Finance Issuance of calendar for Sovereign Gold Bond Scheme 2021-22 Posted On: 21 OCT 2021 The Government of India, in consultation withthe Reserve Bank of India, has decided to issue Sovereign Gold Bonds. The Sovereign Gold Bonds will be issuedin fourtranches fromOctober 2021 to March 2022 as per the calendar specified below: S.No.… Read More »
Income Tax Refund can not be adjusted by Assessing officer without intimation : High Court Facts of the Case Income Tax department sought to adjust refund granted to assessee for assessment year 2019-20 against demands for assessment years 2015-16 and 2016-17, Petitioner already filed appeal against outstanding demand of AY 2015-16 and 2016-17 and deposited… Read More »
Password to open Justification Report download from traces Password to unzip Justification Report is ‘JR_<TAN>_<Form Type>_<Quarter>_<FY>’, e.g., JR_AAAAA1235A_24Q_Q3_2010-11.
Section 44AD Income Tax I Presumtive Taxation Scheme & ITR 4 I Complete Knowledge CA Satbir Singh In this video you will learn about Setion 44AD of Income tax act . Income tax Act provides presumptive income scheme for small taxpayers to lower compliance cost. In this scheme only specified Percentage ( 8% or… Read More »
Availability of Input Tax Credit (ITC) for FY 2020-21 17/10/2021 1.As per Section 16(4) of CGST Act, 2017, no taxpayer shall take input tax credit in respect records (invoices and debit notes) for supply of goods or services (or both) for Financial Year 2020-21 after the due date of furnishing the return for the month… Read More »
Income-tax Department’s searches in NCR, Haryana & WB reveal large scale under-invoicing of imports Posted On: 16 OCT 2021 The Income Tax Department carried out search and seizure operations on an importer and trader of laptops, mobile phones and peripheral parts. The search operations commenced on 10.10.2021 and were spread across the National Capital Region, Haryana… Read More »
Income Tax Department’s searches in Maharashtra reveal unaccounted income of over Rs. 184 crore Posted On: 15 OCT 2021 The Income Tax Department carried out search and seizure operations on two real estate business groups of Mumbai and certain individuals/ entities associated with them. The search operations commenced on 07.10.2021 and have been carried out at about 70 premises… Read More »
New order on GST Summon , no need to appear personally : High Court Facts of the Case The precise contention of the learned counsel for the petitioner is that while appearing in response to a notice under Section 70 of the Central Goods and Services Tax Act, 2017 (for short the CGST Act), Section… Read More »