Monthly Archives: August 2018

No Expenses disallowance for non-deduction of TDS if bills not received :GUJARAT HC

By | August 31, 2018

No TDS was deducted on expenses provisions as the same was contingent liability and the bills were not issued which were issued subsequently and on that the TDS was deducted as and when the final bills were received. HIGH COURT OF GUJARAT Principal Commissioner of Income-tax-4, Ahmedabad v. Sanghi Infrastructure Ltd. M.R. SHAH AND A.Y. KOGJE, JJ.… Read More »

QR card of India Post Payment Bank (IPPB)

By | August 31, 2018

QR card of India Post Payment Bank IPPB QR card redefines the way banking is done. It provides a unique, secure and convenient way to access your account without the hassle of remembering your account number. You do not need to remember your PIN/Password, as transactions can be initiated by using biometric authentication. You can… Read More »

How to open Current Account with India Post Payment Bank (IPPB)

By | August 31, 2018

Current Account with India Post Payment Bank (IPPB) Current Account IPPB offers the facility of a Current Account to the small merchants/ kirana stores and individual businessmen. This account is a prerequisite for carrying out and expanding business. IPPB’s Current Account gets you started on the road to digital transactions for your business needs. Along… Read More »

How to open Basic Savings Account with India Post Payment Bank (IPPB)

By | August 31, 2018

Basic Savings Account with India Post Payment Bank (IPPB) Basic Savings Account This savings account has all the features and benefits offered by the Regular Savings Account (except that it allows only four cash withdrawals in a month). The aim of the basic savings account is to provide primary banking services at a very nominal charge.… Read More »

www.ippbonline.com : Official website of India Post Payment Bank

By | August 31, 2018

Official website of India Post Payment Bank Official website of India Post Payment Bank is www.ippbonline.com  Related Post India Post Payments Bank : Download Documents IPP Bank Death Claim Form with Nomination  IPP Bank Death Claim Form Without Nomination IPP Bank Letter Of Indemnity :(with respect to payment of balance in the deceased constituents  without production… Read More »

India Post Payments Bank : Download Documents

By | August 31, 2018

India Post Payments Bank How to open Regular Savings Account with India Post Payment Bank (IPPB) How to open Digital Savings Account with India Post Payments Bank (IPPB) How to open Basic Savings Account with India Post Payment Bank (IPPB) How to open Current Account with India Post Payment Bank (IPPB) Doorstep Banking by India… Read More »

IPP Bank Letter Of Indemnity : Download : India Post Payments Bank

By | August 31, 2018

IPP Bank Letter Of Indemnity ( Letter of indemnity with respect to payment of balance in the deceased constituents  without production of legal representations ) Download IPP Bank Letter Of Indemnity Related Post IPP Bank Death Claim Form with Nomination  IPP Bank Death Claim Form Without Nomination India Post Payments Bank Helpline Number India Post Payments… Read More »

GST Electronic Credit Ledger Utilization Process

By | August 31, 2018

Electronic Credit Ledger : Utilization Process How can the credit available in the Electronic Credit Ledger be utilized?  Can a taxpayer utilize the credit available in one major head to pay tax liability under any other major head? The amount available in the Electronic Credit Ledger can be utilized for paying off tax liabilities as… Read More »

PMT 07 : GST Payment Related Grievances : FAQ and User Manual

By | August 31, 2018

Filing Payment Related Grievances (PMT-07) FAQs on Filing Payment Related Grievances (PMT-07) 1. For which issues can I raise a grievance? Grievance can be raised ( on GST Portal)  in case of following issues:  Amount debited from the bank account, Cash Ledger not updated NeFT/RTGS related issues Please do not raise a grievance under the… Read More »

GST Cash Invoice Limit

By | August 31, 2018

GST Cash Invoice Limit No Limit for GST Cash Invoice There is no limit prescribed for Issue of Cash Invoice under GST Act . Thus Tax Invoice / Bill of supply can be issued under GST for any Value but one has to keep in mind the Provisions of Income Tax Act of India. Cash… Read More »

How to Submit Request for Rectification of Income Tax Return

By | August 31, 2018

 Submit Request for Rectification of ITR To submit Request for Rectification, please follow the below steps: Login to e-Filing website with User ID, Password, Date of Birth/ Date of Incorporation and Captcha. Go to My Account and click on “Rectification Request”. Enter PAN, Assessment Year, and Communication Reference Number in the Latest order (either u/s 143(1) or u/s… Read More »

What are Credit Notes in GST return ?

By | August 31, 2018

What are Credit Notes? Credit Note is a document issued against an invoice in cases where invoice was issued at a value higher than the actual value of goods and/or services provided or the invoice value is reduced due to post supply negotiations. This may also happen when the goods supplied are returned by the… Read More »

Category: GST

What are Debit Notes in GST Return ?

By | August 31, 2018

What are Debit Notes under GST ? A Debit Note is a document issued against an invoice in cases where the original invoice was issued at a value lower than the actual value of goods and/or services provided. It can also be issued in case of post supply price negotiations. The difference amount is accounted… Read More »

Category: GST

UTGST (Amendment) Act 2018 : Download

By | August 30, 2018

The Union Territory Goods and Services Tax (Amendment) Act, 2018 MINISTRY OF LAW AND JUSTICE (Legislative Department) New Delhi, the 30th August, 2018/Bhadrapada 8, 1940 (Saka) The following Act of Parliament received the assent of the President on the 29th August, 2018, and is hereby published for general information:— THE UNION TERRITORY GOODS AND SERVICES TAX… Read More »

IGST (Amendment) Act 2018 : Download

By | August 30, 2018

The Integrated Goods and Services Tax (Amendment) Act, 2018. MINISTRY OF LAW AND JUSTICE (Legislative Department) New Delhi, the 30th August, 2018/Bhadrapada 8, 1940 (Saka) The following Act of Parliament received the assent of the President on the 29th August, 2018, and is hereby published for general information:— THE INTEGRATED GOODS AND SERVICES TAX (AMENDMENT)… Read More »

CGST (Amendment) Act 2018 : Download /Print

By | August 30, 2018

Central Goods and Services Tax (Amendment) Act, 2018 Central Goods and Services Tax (Amendment) Act, 2018 The following Act of Parliament received the assent of the President on the 29th August, 2018, and is hereby published for general information:— THE CENTRAL GOODS AND SERVICES TAX (AMENDMENT) ACT, 2018 (NO. 31 OF 2018) An Act further… Read More »

Category: GST

UAN Generation without Aadhaar for residents of Assam, Meghalaya & Nagaland : EPFO Instructions

By | August 29, 2018

Hence, a provision has been made available in the Unified Portal in the Establishment login for generation of UAN without Aadhaar for employees resident in Assam, Meghalaya and Nagaland states. It is being allowed initially for a period of 3 months from 24/08/20 18 to 23/11/2018. EMPLOYEES’ PROVIDENT FUND ORGANISAT ION MINISTRY OF LABOUR &… Read More »

2% increase in Dearness Allowance for Center Govt Employee w.e.f 01.07.2018

By | August 29, 2018

Cabinet Cabinet approves additional 2 percent Dearness Allowance (DA) for Central Government employees and Dearness Relief (DR) to pensioners w.e.f. 1st July, 2018 Posted On: 29 AUG 2018 1:05PM by PIB Delhi The Union Cabinet, chaired by the Prime Minister Shri Narendra Modihas approved to release an additional instalment of Dearness Allowance (DA) to Central… Read More »

ICAI Draft Quick Insight on GST – Entertainment Industry, Hospitality Industry, Construction & Infrastructure Industry and Textile Industry

By | August 29, 2018

ICAI Draft Quick Insight on GST – Draft Quick Insight on GST – Entertainment Industry, Hospitality Industry, Construction & Infrastructure Industry and Textile Industry Draft Quick Insight on GST – Entertainment Industry Click here  Draft Quick Insight on GST – Hospitality Industry Click here  Draft Quick Insight on GST – Construction & Infrastructure Industry Click… Read More »

Category: GST

ITR date extended for Kerala for AY 2018-19 :CBDT Order

By | August 29, 2018

Extension of due date for filing Income-tax return by assessees in Kerala from 31st August, 2018 to 15th September, 2018. CBDT Order u/s 119 F.No.  225/242/2018/ITA.II Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes (ITA.II Division) North-Block, New Delhi, the 2nd  August, 2018 Order under Section 119 of the… Read More »

GST on Employee Reimbursements Expenses

By | August 29, 2018

GST on Employee Reimbursements Expenses Reimbursement of expenses for supplies received by employees from registered dealers : The expenditure is in the nature of business cost incurred for the furtherance of business, employer shall be eligible to avail of the Input Tax Credit (ITC) of the GST paid by employee, at the time of receipt of… Read More »

Category: GST

New GST News 28.08.18

By | August 28, 2018

New GST News 28.08.18 [ Join online GST Course by CA Satbir Singh ] New GST News New Books for GST , Income Tax & Law Practice (Till Aug 2018) ICAI GST E Newsletter July 2018 GST Video Tutorials GST Applicability if material shortage in transit Will GST apply if Buyer and Sellers in Foreign… Read More »

Category: GST

Do’s and Don’ts of ATM transactions

By | August 28, 2018

Do’s and Don’ts of ATM transactions Do’s Conduct your ATM transactions in complete privacy, never let anyone see you entering your Personal Identification Number (ATM Password) After completion of transaction ensure that welcome screen is displayed on ATM screen Ensure your current mobile number is registered with the bank so that you can get alerts… Read More »

Regulations for Drones announced by Government

By | August 28, 2018

Press Information Bureau Government of India Ministry of Civil Aviation 27 AUG 2018 7:37PM by PIB Delhi Government announces Regulations for Drones Drones are a technology platform which has wide-ranging applications from photography to agriculture, from infrastructure asset maintenance to insurance. Drones range in size from very small and those that can carry multiple kilograms… Read More »

ICAI GST E Newsletter July 2018

By | August 28, 2018

ICAI GST E Newsletter July 2018 Download ICAI GST E Newsletter July 2018 Click here Related Post ICAI GST E- Newsletter June 2018 ICAI GST E-Newsletter – May 2018 ICAI GST E-Newsletter -April, 2018  ICAI GST E-Newsletter –March 2018 ICAI GST E-Newsletter – Febraury 2018 ICAI GST E-Newsletter-January 2018 ICAI GST E-newsletter – December 2017 ICAI… Read More »

Judicial Pronouncements under Insolvency & Bankruptcy Code 2016 : by ICAI

By | August 28, 2018

Publication on Judicial Pronouncements under Insolvency and Bankruptcy Code, 2016 Series 1 , by Insolvency and Bankruptcy Laws Group, CLCGC, ICAI – (27-08-2018) Publication on Judicial Pronouncements under Insolvency and Bankruptcy Code, 2016 Series 1 , by Insolvency and Bankruptcy Laws Group, CLCGC, ICAI – Download : Click here

ICAI Valuation Standards 2018 : Download /Print

By | August 28, 2018

ICAI Valuation Standards 2018 Recognising the need to have the consistent, uniform and transparent valuation policies and harmonise the diverse practices in use in India, the Council of the Institute of Chartered Accountants of India (ICAI) at its 375th meeting has issued the Valuation Standards which are 1st of its kind in India. With a… Read More »

 GST Applicability if material shortage in transit

By | August 27, 2018

 GST Applicability if material shortage in transit Video Tutorial Explanation by CA Satbir Singh in Hindi Transporter account is debited for deficiency in providing transportation service like material shortage in transit and debit Note is issued to tranporter. In this case supplier does not issue credit note. Whether these types of debit notes are liable to… Read More »

Will GST apply if Buyer and Sellers in Foreign Country but Commission paid in India

By | August 27, 2018

Buyer and Sellers in Foreign Country but Commission paid in India we are online business website and residing in India. My website is accessed by foreign buyer and seller (not indian buyer/seller). Payment is directly made by foreign buyer to foreign seller through “paypall” who after retaining his services fees remit to seller. we are receiving… Read More »

Category: GST

Reassessment invalid if not proved that advance received was undisclosed income : ITAT

By | August 27, 2018

mere fact that the assessee had received this advance does not imply, or even suggest, that it constitutes an income which has escaped assessment. IN THE ITAT DELHI BENCH ‘A’ Anil Laul v. Income-tax Officer, Ward 38 (1), New Delhi PRAMOD KUMAR, ACCOUNTANT MEMBER AND SUDHANSHU SRIVASTAVA, JUDICIAL MEMBER IT APPEAL NO. 566 (DELHI) OF 2011… Read More »