GST and Income Tax Updates

New TDS and TCS Rates from 14.05.2020 for FY 2020-21

What is TDS on Contractor I Income Tax and GST I CA Satbir Singh

Big Change in Income Tax TDS I Applicability I From FY 2020-21 I CA Satbir Singh

CBDT Deferred New Registration procedure for Charitable and certain entities till Ist Oct 2020

Circular No 11/2020 Dated 08.05.2020 : NRI Status for FY 2019-20 Clarification by CBIC

TRAN 1 upload / Rectification allowed till 30.06.2020 I CA Satbir Singh

GSTR 3B Rectification allowed after filing I CA Satbir Singh

Notification No. 5/2020-Central Excise : Govt. has increased Special Additional Excise Duty & Road and Infrastructure Cess on petrol & diesel

Notification No. 6/2020-Central Excise : Govt. has increased Special Additional Excise Duty & Road and Infrastructure Cess on petrol & diesel

Export Date Extension for lower GST to Merchant Exporter

Circular No 138/08/2020 GST : Issues Clarified due to COVID 19

5 New GST Notifications issued on 5th May 2020 I CA Satbir Singh

GST Annual Return Date Extended FY 2018-19 Notification I CA Satbir Singh

Breaking News I E-way Bill Validity Date Extended I Notification I CA Satbir Singh

Income Tax Rates AY 2021-22

ICAI Advisory on Communication with Retiring Auditor through E-mail 

ICAI Advisory on Mentioning Fees in Advertisements issued by Members

GST Reporting Deferred in Tax Audit : Circular No.10/2020

CBIC guidelines for Personal Hearings through video conferencing

E-mails for facilitating faster Income Tax refund can not be misconstrued as harassment: CBDT

Extension of facility for SB005 error correction in Customs EDI system for Shipping Bills with date upto 31.12.2019

New Tax on Online Sale of Goods and Services I CA Satbir Singh

Advisory for Bank Branch Auditors- 2019-20 by ICAI

Tax on Saving Bank Accounts I CA Satbir Singh

Section 80G deduction for PM Care Fund based on Certificate issued by Employer : CBDT

New GST Circular Clarifications I Contract Cancelled I Refund I TDS I LUT I CA Satbir Singh

IT Dept released Over 10.2 lakh Refunds worth Rs 4,250 crore

Revised Guidelines of MHA for Lockdown from 15.04.2020

Change of Date of Birth of EPF/ESI Members

MCA Clarifications on CSR expenditure for COVID 19

Download 197 Certificate for Section 194M

20 Expenses & Investments Tracked by Income Tax Dept I High Value Transactions I CA Satbir Singh

CGST Rules, 2017 as amended up to 03.04.2020

GST Latest Articles and Analysis

GST Portal Alert for GSTR 6 (Input Service Distributor)

New GST Rule to link Aadhaar with GSTIN I GST Registration I Cancellation of GST

New GST Due Dates I Interest I Late Fees I ITC I Feb 2020 to May 2020

GSTR 8 Last Date for March 2020 , April 2020 & May 2020 I CA Satbir Singh

GSTR 7 Last Date for March 2020, April 2020 & May 2020 I CA Satbir Singh

COVID 19 :cash withdrawal from PF permitted : Notification

Govt gives relief for repayment of Loan and EMI I Interest I Working Capital I CA Satbir Singh

Extension of rebate in taxes on Export of Garments and made-ups approved by Cabinet

Latest GST Notifications

Notification No 42/2020 Central Tax : GSTR 3B Date Extension for K & K and Ladakh

Notification No. 41/2020 Central Tax : Date extended for GST Annual Return FY 2018-19

Notification No 40/2020 Central Tax : E way bill Validity Extension if generated before 24th March 2020

Notification No 39/2020 Central Tax : GST Registration by Insolvency Professional Resolution

Notification No 38/2020 Central Tax : GSTR 3B filing by SMS

Circular No 137/07/2020 GST Provisions Clarified

Instruction No 2/1/2020 GST : Pending GST Refund immediate processing

Notification No 30/2020 Central Tax CGST (Fourth Amendment) Rules 2020

New GST Notifications and Circulars 03.04.2020

Circular No 136/06/2020 GST : Notifications Clarifications

Latest  GST Judgments

Detained vehicle and goods to be released on payment of tax : HC

File Application for GST TRAN-1 committed errors with Nodal Officer : HC

Kerala Tax on Paper Lotteries Act, 2005 is unconstitutional & invalid: HC

After job work finished goods were not exported but cleared to a DTA, No contravention of EXIM Policy : SC

NO Detention of Goods unless Intention is to Evade Tax in GST :HC

GST Margin Scheme on Second hand jewellery purchased from unregistered person :AAR

Taxpayer released on Bail if Imported Goods not re-exported and time period not expired : HC

TRAN 1 can be filed within 3 years as per Limitation Act till 30-6-2020: Delhi HC

FIR for lodged for bogus tax invoices will not be quashed : HC

Withdrawal Advance Ruling application allowed if Agreement cancelled : AAR

GSTR 3B Rectification allowed in the month in which error occurred : HC

Incentives granted before GST withdrawn after GST, Writ Petition dismissed as , no plea of promissory estoppel was maintainable : HC

Denying Refund is illegal if holded for cross verification of payment made : HC

Reduction in Incentive Scheme by Govt by Subsequent Notification not covered by promissory estoppel: SC

Service Tax records can be asked even after GST Regime : HC

Coercive action can be taken against taxpayer in GST if he failed to appear against summons : HC:

GST Officer to consider Refund of IGST paid on Export but not filled in shipping bills: HC

IGST on importer on Ocean Freight are ultra vires to the IGST Act : HC

GST on Compensation paid to parties if agreement could not materialize : AAR

Notice issued to Govt on Unsuccessful upload of Annual GST Return : HC

Refund IGST paid on ocean freight is allowed : HC

Circular No 132/2/2020 – GST Appeal Time and non-constitution of Appellate Tribunal

GSTR9C Filing Exemption to Foreign Airlines : Notification 09/2020– Central Tax

10 Key Outcomes from 39th GST Council Meeting

Income Tax Article and Analysis

New Income Tax Due Dates I March 2020 I April 2020 I May 2020 I Ordinance 2020 I CA Satbir Singh

Income Tax Notifications and Circulars

Immediate Release of Income Tax Refund upto Rs 5 Lakh

Finance Act 2020 Download Notification

Donate to PM Cares Fund to fight Covid 19 : PM Appeal

Form 15G/15H filing Date Extended for FY 2020-21 : CBDT

Income Tax Authority for Country-by-Country Report notified

Income Tax Judgments

60% Depreciation allowed on Set Top Boxes : ITAT

Amount collected for Building Development Fund from students is capital receipt , not taxable : ITAT

Interest Exp disallowed if Sales to sister concern and amount not realized : HC

No Dis allowance u/s 40(a) of Surcharge on sales tax and turnover tax as it is not a ‘fee or charge’ : HC

SLP dismissed due to Low Tax Effect : SC

No additions u/s 68 on basis of search on third party, if AO has not conducted any independent enquiry : ITAT

AO can not make disallowances if it was not part of Remand proceedings : HC

No addition u/s 153A if incriminating material not found in search : ITAT

Before 01.10.2009 Sec 50C not applicable if properties were sold otherwise than by registered sale deed : ITAT

Sec 10A to exclude Foreign travel exp for providing services outside India : ITAT

No Tax u/s 41 on Waiver of loan by Govt : HC

ITAT can rectify order even after 6 months : ITAT

No disallowance u/r 8D if Investment made from Interest free Surplus funds : ITAT

Reassessment notice valid as parent company outside India made huge Investment in Its Indian Company : HC

Payment made for Long lasting source of material is capital Expenditure :

Pending rectification application to be considered by CIT(A) as AO started recovery proceedings :HC

Addition justified for Late deposit of employee’s contribution towards PF and ESI : HC

Sec 10A to exclude Foreign travel exp for providing services outside India : ITAT

No Interest u/s 234A/B/C if winding up order against Financialy weak company : HC

Premises purchased for benefits of all family members, suit can’t be rejected outrightly u/s 4(3) of unamended Benami Act

No Tax on Accrued Interest on Govt grant received for house construction of Police Officers : HC

No Addition u/s 69B based on Stamp Duty Value : HC

Sec 10A Deduction will exclude Foreign travel exp. incurred for providing services outside India : ITAT

SLP dismissed due to having low tax effect : SC

No Tax Exemption if mutual concern principal not existing : SC

No Sec 68 Addition of Partners Capital Contribution in Partnership Firm : HC

No Sec 68 Addition for purchases from Unregistered person if identity proved in penalty proceedings : SC

No coercive action against taxpayer if writ filed challenging Black Money Act : HC

Penalty enviable for accepting Cash Deposit exceeding Rs 20000 : HC 

Bogus Donation made to claim deduction , matter rightly remanded back to Assessing Officer : HC

Sec 142A can’t be applied for FMV of land without tangible reason to reject value declared by Taxpayer : ITAT

Direct Tax Dispute Resolution Scheme 2016 Relief not allowed after delay of 3 years : HC

No Revision u/s 263 if barred by limitation Period : HC

AO to check whether society had license to do banking business for Section 80P Claim : ITAT

Notice given after Recovery proceedings is not Valid : HC

No Revision u/s 263 if AO conducted required enquiry : ITAT

Loan to director is not deemed divided if money Lending is one of object of company : HC

File ITR in Paper Form as E-filing not allowing set off of Losses : HC

Stay on 20% of Demand allowed on deposit of Rs 2 Lakh only : HC

Loan to director is not deemed divided if money Lending is one of object of company : HC

New claim can be filed in Return for deduction u/s 153A : HC

MAT Losses can be Carried Forward without 8 year restriction : HC

No Addition of undisclosed income if corroborative evidence not available : HC

Section 80-IA deduction will start as per option of Taxpayer, not from first year of commencement of operations :HC

Income Tax Refund can’t be withheld because of Scrutiny Notice : HC

Additional Income can be disclosed before settlement Commission : HC

Exemption can’t be denied merely because profits generated by Assessee during Chartitable Activities : SLP dismissed

For Section 80I and 80HH deduction allowed for Interest due to Late Payment from Debtor : HC

No Revision u/s 263 if AO applied his mind on the issues :ITAT

Tax in Separate Heads if Salary & Commission received by Employee from employer : ITAT

Section 14A : AO has to record dissatisfaction on suo motu disallowance by Assessee before applying Rule 8D : HC

Additions of undisclosed income can not be made on presumption without corroborative evidence : HC

Separate Satisfaction Note not required u/s 153C if Assessing Officer is same : SC

If Incriminating material not found during search Sec 153A can not be invoked : ITAT

Taxpayer can claim Interest on delayed payment of Interest on refund u/s 244A :HC

Companies Act

ICAI FAQs on LLP Settlement Scheme 2020

ICAI FAQs on the Companies Fresh Start Scheme 2020

COID 19 : All companies & LLP to File CAR on 23.03.2020

CARO 2020 Applicability Date Extended

Other Notifications

EPF Scheme to allow withdrawal of non-refundable advance