While quashing the detention order the Madurai Bench of Madras High Court ruled that if an invoice, bill of supply, delivery challan, or bill of entry and a valid e-way bill in physical or electronic form for verification are available, then no action may be initiated. It was remarked by the bench of Justice S.Srimathy that the respondent department issued the notice carried the inspection on the identical day and passed the order on the identical day. Under the mentioned provisions the respondent’s department would required to allot the time…
Tag: Form
Mehbooba Mufti urges Amit Shah to form panel of representatives from both sides of LoC | India News
PDP chief Mehbooba Mufti on Saturday called for forming a panel of representatives of people from both sides of the LoC in Jammu and Kashmir to discuss the region’s issues. Speaking at the 25th foundation day function of the People’s Democratic Party (PDP), Mehbooba appealed to Union Home Minister Amit Shah to form a committee of 20 representatives on each side. “Amit Shah says he will bring back that Kashmir (Pakistan-occupied Kashmir) even as you tell us Muslims to go to Pakistan,” she said. “But I have a request for…
CBIC Dept. Updates Table 6.1 of GST Return Form 3B for Adjustments Prior Negative Liability
To include the ‘Adjustment of negative liability of previous tax period’ for Reverse Charge and supplies under Section 9(5) of GST Act and other than Reverse Charge and supplies made under Section 9(5) of GST, the Central Board of Indirect Taxes and Customs (CBIC) has revised Table 6.1 of the GSTR 3B. From a new table, the former one was substituted. Section 9(5) of the GST statute mentions the services proposed by the E-commerce operators. The government has informed the amendment, though the effective date has not been announced till…
HC Emphasizes Need to Record Reasons in GST INS-01 Form Before Initiating Search U/S 67
On May 20, 2024, in the case of Excellentvision Technical Academy Pvt. Ltd. v. State of U.P. [Writ Tax No. 554 of 2023, the Allahabad High Court highlights the need for the Revenue Department to record reasons in INS-01 before initiating search proceedings under Section 67 of the Central Goods and Services Tax (CGST) Act, 2017. It has been ruled by the Hon’ble Allahabad High Court that where the Revenue Department loses to place the actual reasons to trust as needed u/s 67 of the CGST, 2017 before executing the…
nw Condonation for delay in filing Form 10-IC for 20-21
[ad_1] Condonation for delay in filing Form 10-IC for assessment year 2020-21 Concessional rate of tax at 22% Finally, a big relief for domestic companies, who had opted for a concessional rate of tax of 22% for assessment year 2020-21, but did not file Form 10-IC on or before the due date of filing return of income I forgot CBDT vide circular number 6/2022 dated March 17, 2022 condoned the delay in filing Form 10-IC for the assessment year 2020-21 under section 119(2)(b) of the Income Tax Act, 1961 .…
Filing of ROC Form CSR-2 on Reporting on CSR
[ad_1] MCA Form CSR-2 on Reporting on Corporate Social Responsibility MCA has released a new Form CSR-2 for Reporting on Corporate Social Responsibility to be reported annually along with Form AOC-4 starting from FY 2021 needed. Because the amendment in AOC-4 has not been implemented for FY 20-21, it will be filed separately by 31-03-2022. , Post Filing of ROC Form CSR-2 on Reporting on CSR first appeared Rajput Jain & Associates – Chartered Accountant in Delhi, [ad_2] Source link
Merely on Form 26AS Sale Consideration cannot be Determined
[ad_1] Fact and Issue of the case This appeal by the assessee is directed against order of the CIT(A) dated 28.2.2018. The assessee has raised following grounds of appeal: “The impugned Appellate order dated 28-02-2018 passed by the Learned CIT(A), Bangalore, is opposed to law, facts and circumstances of the case in so far as it is prejudicial to the interest of Assessee. The Ld. CIT(A) has erred in adjudicating the Appeal in the Status of -Individual” as against the Status of “HUF” without appreciating the facts that the Appellant…
CBDT amends Income Tax Rule 2F and Rule 8B and issues new Form No. 5B and 5BA
[ad_1] GSR 275(E).—In exercise of the powers conferred by clause (48) of section 2 and clause (47) of section 10 read with section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the Income-tax Rules, 1962 To further amend the following rules, namely:- Short title and commencement. , (1) These rules may be called income-tax (8.)th Amendment) Rules, 2022. (2) They shall come into force from the date of their publication in the Official Gazette. In the Income-tax Rules, 1962 (hereinafter referred…
GST: Form 1st April 2022 Issuance of provisional attachment orders and its restoration on BO system.
[ad_1] The provisional attachment action prescribed under section 83 of the GST Act(s) is a safeguard measure to safeguard the revenue during the pendency of the proceedings. It freezes the attached properties thereby preventing the taxpayer from disposing of them and against this background, the act of temporary attachment assumes prime importance in protecting the interests of the revenue. The provisions of section 83(1) have been amended and expanded with effect from 01.01.2022 wherein the specified sections covered earlier have been replaced with full relevant chapters of the GST Act(s).…