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Pre login Features on GST portal : Explained by GSTN जीएसटी पोर्टल पर पूर्व लॉगिन विशेषताएं

By | December 13, 2018

Pre login Features on GST portal : Explained by GSTN जीएसटी पोर्टल पर पूर्व लॉगिन विशेषताएं Related Post GST Portal : Free Study Material www.gst.gov.in login portal for GST in India What GST Practitioner can do on GST Portal ? GST News Part 248 [Video ] New Functions on GST Portal -Explained by GSTN on… Read More »

Prosecutions and Punishments under Income Tax Law of India

By | December 12, 2018

PROSECUTIONS AND PUNISHMENT UNDER THE INCOME-TAX LAW [As amended by Finance Act, 2018]  Apart from penalty for various defaults, the Income-tax Act also contains provisions for launching prosecution proceedings against the taxpayers for various offences. In this part you can gain knowledge about the various provisions relating to prosecution which can be launched under the… Read More »

TDS on Rent of Property : Section 194IB: FAQs : Form 26QC & Form 16C

By | December 12, 2018

TDS on Rent Section 194IB of Income Tax Act What is TDS on Rent? The Finance Act, 2017 has introduced section 194-IB providing that Tenant of a property making monthly rent payment exceeding Rs 50, 000 is required to deduct tax at the rate of 5% from the rent payable to a resident landlord. Who… Read More »

TDS on Interest , Professional Fees , royalty under Income Tax [FA 2018]

By | December 12, 2018

Tax deducted at source from interest other than interest on securities (Section-194A), from fees for professional services/technical services/royalty (Section-194J) and from interest on securities (section 193) [As amended by Finance Act, 2018] For quick and efficient collection of taxes, the Income-tax Law has incorporated a system of deduction of tax at the point of generation… Read More »

TDS Rates for AY 2019-20 (FY 2018-19) : As amended by Finance Act 2018

By | December 12, 2018

TDS Rates for AY 2019-20 (FY 2018-19) [ TDS Rates for AY 2019-20 (FY 2018-19) As amended by Finance Act, 2018  / Rates for tax deduction at source ] [For Assessment year 2019-20] Particulars TDS Rates (in %) 1. In the case of a person other than a company 1.1 where the person is resident in… Read More »

How to determine ITC on Capital Goods under GST

By | December 10, 2018

Determination and apportionment of input tax credit in respect of capital goods (Critical analysis of Rule 43 of Central Goods and Services Tax Rules, 2017 Input tax credit (‘the ITC’) is the backbone of GST. On a perusal of section 73 and and74 will reveal that wrong availment of ITC is being treated as violation,… Read More »

DSC ( Digital Signature Certificate ) Registration Process on GST Portal

By | December 10, 2018

How to register  DCS on GST Portal Register DSC Access GST Portal through www.gst.gov.in. Enter User Name, Password and Captcha in respective boxes Click on Continue Related Post FAQs ON DIGITAL SIGNATURE CERTIFICATE (DSC) Digital Signature Certificate ( DSC ) for GST ? Precautions Digital Signature Certificate (DSC) Ready Reckoner -Book 2017 ; FCA Rahul… Read More »

Depreciation allowable on public roads by treating as buildings : SC

By | December 8, 2018

SUPREME COURT OF INDIA Principal Commissioner of Income Tax v. GVK Jaipur Expressway Ltd. ROHINTON FALI NARIMAN AND NAVIN SINHA, JJ. SPECIAL LEAVE PETITION (CIVIL) DIARY NO. 32340/2018 OCTOBER  5, 2018 K. Radhakrishnan, Sr. Adv., D.L. Chidananda, Rohit Rao, Ms. Harshita Bhatnagar, Advs. and Mrs. Anil Katiyar, AOR for the Petitioner. ORDER   1. Delay condoned. 2. The Special Leave Petition is dismissed. ANNEX [2018]… Read More »

Goods couldn’t be seized if e-way bill generated before seizure order: HC

By | December 7, 2018

HIGH COURT OF ALLAHABAD Axpress Logistics India (P.) Ltd. v. Union of India KRISHNA MURARI AND ASHOK KUMAR, JJ. WRIT TAX NO. 602 OF 2018 APRIL  9, 2018 Aloke Kumar for the Petitioner. ORDER 1. Heard Shri Aloke Kumar, learned counsel for the petitioner, Shri Anant Kumar Tiwari for respondent No. 1 and Shri C.B. Tripathi, learned Standing Counsel… Read More »

How to file reply to Revision Order Proceedings on GST Portal

By | November 28, 2018

Reply to Revision Order Proceedings under GST FAQs > Following-up and Taking Action in Revision Order Proceedings 1. What are Revision Order Proceedings and when are they conducted? Revision Order Proceedings are related to proceedings conducted by a Revisional Authority (RA) to revise an impugned adjudicating Order, originally issued to the taxpayer by an Adjudicating… Read More »

GST Audit Checklist : User Guide on GST Audit

By | November 25, 2018

GST Audit Checklist we have compiled GST Audit Checklist Area wise working / checklist for annual return and GST audit in respect of  GST Registration, Invoicing Documentation, Goods Sent To Job Work, Supply of Goods & Services,  Time Of Supply, Input Tax Credit, Input Tax Service Distributor,  Classification Of Goods & Services,  GST Returns, GST Collections… Read More »

How to reply notice for mismatch in GST RETURN ?

By | November 22, 2018

Notice for mismatch in GST RETURN GST officers have started issuing notice for mismatch in GST returns and discrepancy in GST returns Mismatch in GST RETURN Taxable persons  would have started getting notices from GST department officer seeking explanation for the discrepancies observed in GST returns after making scrutiny of returns. Normally department is seeking… Read More »

ISA AT December 2018 Application Form by ICAI : Download

By | November 20, 2018

APPLICATION FORM THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA Information Systems Audit Course Assessment Test, December, 2018 (Timings of Examination : From 9.00 A.M. to 1.00 P.M. (IST) (Please fill in the form carefully as per instructions enclosed.) Download ISA AT December 2018 Application Form :Click here

No GST on e procurement transaction fee collected on behalf of ITE&C : AAR

By | November 16, 2018

Whether the e procurement transaction fee collected on behalf of ITE&C department results in supply of goods or services or both, within the meaning of supply as defined law. Whether the tax liability arises on e procurement transaction fee collected on behalf of ITE&C department. Held It is supply as defined in SGST Act 2017… Read More »

How to File GST Appeal with Commissioner (Appeal)

By | November 12, 2018

How to File GST Appeal with CIT (Appeal) How to file GST Appeal Video Tutorial by CA Satbir Singh GST Appeal Can be Filed with  Appellate Authority : First appeal before ‘Appellate Authority’.Appellate Authority will be departmental officer. ( Commissioner (appeals) . As per Section 2(8) of CGST Act 2017 “Appellate Authority” means an authority appointed… Read More »

ICSI GST Newsletter issued till Date : Compilation

By | November 12, 2018

ICSI GST Newsletter Compilation of GST Newsletter issued by Institute of Company Secretaries of India ICSI GST Newsletter December 2018 ICSI GST Newsletter November 2018 ICSI GST Newsletter October 2018  ICSI GST Newsletter September 2018 ICSI GST Newsletter July 2018 :  ICSI GST Newsletter June 2018 ICSI GST Newsletter May 2018

GSTR 7A : GST TDS Certificate : FAQs and User Manual

By | November 12, 2018

GSTR 7A FAQs and User Manual Video Lecture on GST TDS Certificate in Hindi by CA Satbir Singh FAQs > GSTR-7A 1. What is Form GSTR-7A? Form GSTR-7A is a system generated TDS Certificate which is generated once deductor furnishes a return in Form GSTR-7 on the GST Portal and the deductee accepts the details uploaded… Read More »

26th GST Council Meeting : Agenda and Minutes : Download

By | November 7, 2018

26th GST Council Meeting : Agenda and Minutes : Download 26th GST Council Meeting held on 10th March 2018 at Vigyan Bhawan, New Delhi. Agenda of 26th GST Council Meeting Agenda of 26th GST Council meeting includes Detailed Agenda Note – 26th GSTCM  Additional Agenda Items – 26th GSTCM  Table Agenda – Agenda Item 14(iv) Detailed Agenda… Read More »

Companies Amendment Ordinance 2018 : Download /Print

By | November 3, 2018

Companies Amendment Ordinance 2018 Companies Amendment Ordinance 2018 promulgated by President of India on 02.11.2018 to further amend the Companies Act 2013. It come into force at once The President of India has promulgated an Ordinance to further amend the Companies Act, 2013 in exercise of the powers conferred by clause (1) of article 123 of the… Read More »

No evidence of profiteering from GST by Amway : National Anti-Profiteering authority

By | October 31, 2018

Application filed by applicant requesting for action against respondent for alleged violation of provisions of section 171 on ground that respondent had not passed on benefit of reduction in GST rates from 28 per cent to 18 per cent on selected items to its customers/Amway Business Owners would not be maintainable as there was no… Read More »

Manual GST Refunds : Standard Operating Procedure

By | October 31, 2018

Manual GST Refunds GST Refund Process Flow Chart Introduction: Refund module is currently not operational on the common portal of the GSTN causing delay in filing and processing of application for refund electronically. Manual filing of applications/documents/forms pertaining to refund claims has been prescribed to overcome this difficulty and, such applications shall also be processed… Read More »

20% demand can’t be directed to pay during pendency of stay application: Bombay HC

By | October 28, 2018

If that demand is under dispute and is subject to the appellate proceedings, then, the right of appeal vested in the petitioner/assessee by virtue of the Statute should not be rendered illusory and nugatory. That right can very well be defeated by such communication from the Revenue/Department as is impugned before us. That would mean… Read More »

Single GST Audit or for Each GSTIN ? Explained

By | October 28, 2018

Single GST Audit or for Each GSTIN Whether GST audit will be conducted for each GSTN or PAN India Single audit will be conducted. In other words, GSTR 9C need to be filed for each GST registration or single GSTR-9C will be filed covering all registrations? Answer : one GSTR 9C for each GSTR-9  Annual return in form … Read More »

ICSI new Helpdesk

By | October 17, 2018

Institute of Companies Secretaries of India Kind Attention!! As a part of implementing a monitored environment all have been advised to use http://support.icsi.edu only. Phone numbers as mentioned below have been REMOVED from service to make the initiative of monitored environment a success. ICSI Sampark 8824401155 ICSI call center 0120-3314111,0120- 6204999 Academic Helpdesk 0120-6267777 All… Read More »

How to File Appeal against GST Registration Order :FAQ and User Manual

By | October 17, 2018

Filing an Appeal against Registration Order  :FAQ and User Manual FAQs 1. Who can file an appeal to the Appellate Authority? Any taxpayer or an unregistered person aggrieved by any decision or order passed against him (with respect to Registration, amendment or cancellation etc.) by an adjudicating authority, may appeal to the Appellate Authority, within… Read More »

New GST News 13.10.2018

By | October 13, 2018

New GST News 13.10.2018 [ Join online GST Course by CA Satbir Singh ] New GST News Free GST Online Course [ Videos ] by CA Satbir Singh GST on Traders : Free Book by ICAI : Download GST Practitioners Question Bank with Quick Exam Guide : Taxmann Sept 2018 GST Practitioners Exam Alert :… Read More »

TDS on Rent -Complete Guide

By | October 7, 2018

TDS on Rent TDS on Rent -Section 194IB w.e.f 01.06.2017 Read Section 194IB -TDS on Rent w.e.f 01.06.2017 in case of Individual and HUF not liable for Audit TDS on Rent -Section 194I Conditions to be satisfied for applicability of TDS on Rent [section 194-I ]  For applicability of TDS on Rent -section 194-I, following conditions… Read More »

Late Fees & Penalty for delay in filing TDS/TCS Statements under Income Tax

By | October 7, 2018

LATE FILING FEES AND PENALTY FOR FAILURE TO FURNISH/DELAY IN FURNISHING THE TDS/TCS STATEMENTS [As amended by Finance Act, 2018] Before understanding the penalty provisions for failure to furnish the statement of Tax Deducted at Source or statement of Tax Collected as Source (i.e. commonly known a TDS/TCS return) we shall first have a look at… Read More »

Central Excise duty on petrol & diesel reduced by Rs 1.5 per litre w.e.f 5.10.2018 : Notification No 21/2018-Central Excise

By | October 5, 2018

Notification No 21/2018-Central Excise Central Excise duty on petrol and diesel is reduced by Rs 1.5 per litre w.e.f 5.10.2018 [TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)] GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) Notification No. 21/2018-Central Excise New Delhi, the 4th October, 2018 G.S.R.… Read More »

High Level Committee Constituted on Corporate Social Responsibility of Companies

By | September 28, 2018

Ministry of Corporate Affairs High Level Committee Constituted on Corporate Social Responsibility A High Level Committee on Corporate Social Responsibility – 2018 (HLC-2018) has been constituted under the Chairmanship of Shri. Injeti Srinivas, Secretary, Ministry of Corporate Affairs (MCA) to review the existing framework and guide and formulate the roadmap for a coherent policy on… Read More »

Mandatory UDIN for Chartered Accountants Certificate w.e.f 01.01.2019

By | September 27, 2018

Mandatory UDIN for Chartered Accountants Certificate w.e.f 01.01.2019 ANNOUNCEMENT by ICAI on 26.09.2018 Unique Document Identification Number (UDIN) It has been noticed that financial documents/ certificates attested by third person misrepresenting themselves as CA Members are misleading the Authorities and stakeholder. ICAI is also receiving number of complaints of forged signatures. To curb the malpractices,… Read More »

Notification No 67/2018 Customs : First Schedule of Customs Tariff Act 1975 amended

By | September 27, 2018

seeking to ammend First Schedule of Customs Tariff Act, 1975. [TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)] GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) Notification No. 67/2018–Customs New Delhi, the 26th September, 2018 G.S.R. (E).-WHEREAS the Central Government on being satisfied that the import duty… Read More »

ICSI Guidance on Diligence Report on Governance for Banks : Exposure Draft

By | September 26, 2018

ICSI Guidance on Diligence Report on Governance for Banks The Reserve Bank of India vide Circular DBOD.No.BP.BC.110/08.12.001/2008-09 dated February 10, 2009, mandated a due diligence for lending under consortium arrangement / Multiple Banking Arrangement. In terms of para 2(iii) of the above Circular, in order to strengthen the information sharing system among banks in respect of… Read More »