Person arrested in Ghotkapor for cheating Clients not a Chartered Accountant: ICAI
Read more at: http://www.taxscan.in/ghotkapor-chartered-accountant-icai/29765/
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ICAI Submitted representation for permitting availment of ITC under GST of FY 17-18 till 31st December 2018 : Considering the practical difficulties being faced by the trade and industry in availing input tax credit under the GST laws from 20th October, 2018.
Check GSTR 2A: Whether any Expenses or purchase remain to be allocated for GST like bank charges, Flight Exp. Whether any purchase still to be remain entered. Reconcile the balance of all creditor up to 2017-18 to account the differences in balances.
E-Way bill: The new option has been introduced wherein the consignment of one e-way bill has to be moved in multiple vehicles, after moving to trans shipment place.
SEBI is considering seeking powers from the government to intercept calls and electronic communications of those suspected of serious economic offences like insider trading.
RBI issued guidelines for interoperability of e-wallets, which will allow transfer of money from one wallet to another. While the RBI, in its master direction in December 2017, had said it would enable full interoperability, the industry was awaiting the final rules.
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Trader arrested in Karnataka for GST Evasion of 42 Crore
Read more at: http://www.taxscan.in/arrested-karnataka-gst-evasion/29770/
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# GST: The composition taxpayers shall not furnish the data in S.N.4A of Table 4 of Form GSTR-4. The required changes in the CGST Rules, 2017 would be notified shortly.
# GST: Demand of service tax after migration to GST Regime is protected by the savings clause provided u/s 174(2)(e) of GST Act, 2017 - Laxmi Narayan Sahu & Ors Vs UoI. (2018 (10) TMI 904 - Gauhati HC).
# IT: Valuation of the closing stock "At cost" which is changed to "At cost or market value whichever is less‟ is more prudent - Change in the method of valuation of stock allowed – ACIT Vs Leasemen FinVest India Pvt. Ltd. (2018 (10) TMI 931 - ITAT Delhi).
# IT: Deduction u/s 54F - Capital gain arising from depreciable assets is long term capital gain for the purpose of claiming exemption under Section 54F/54E – ITO Vs Smt. Jaya Deepak Bhavnani (2018 (10) TMI 928 - ITAT Mumbai).
TMI:taxmanagementindia.com
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NFRA: ICAI writes to Govt expressing Disappointment
Read more at: http://www.taxscan.in/nfra-icai-disappointment/29782/
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AAA UP held that no GST is payable in case plot has been allotted for a lease of 30 years or more for industrial or infrastructure or financial business by State Industrial Development corporation or by undertaking or by an entity if Central Government or State Goverment or Undertaking in which 50% or more ownership is held by Central Government or State Goverment or UT. Yamuna Expressway Industrial Development Authority 2018(17)GSTL 50.
AAA Maharashtra has held that in case of contract for supply of service and in that contract if the supply of goods does not exceed 25% of the total value such contract, it shall be treated as contract for supply of services and shall be exempt from levy of GST by virtue of Notification No 20 dt. 25.1.2018. khilari Infrastructure P Ltd 2018(17) GSTL 65
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ITAT Mumbai has held that signing the investment management agreement by an asset management company (AMC) is enough to claim deduction for revenue expenses even if the scheme is yet to commence.
GST composition scheme Assessee need not file details of purchases made from their vendors at the time of filing quarterly return GSTR-4. Finance ministry said there have been doubts regarding the manner of filing the quarterly return by composition dealers in Form GSTR-4 in the absence of auto-population of the details of inward supplies received from registered suppliers.
GST: Event Management support services provided in one state to a registered person in other state would be treated as interstate supply of services.
ICSI Submitted Representation with MCA for Extension of last date of filing Annual Return under Companies Act, 2013.
IBBI vide its circular dated 17th October, 2018 has directed that "with effect from 1st February, 2019, no insolvency professional shall appoint a person other than a registered valuer to conduct any valuation under the Code or any of the regulations made thereunder.
NCLAT in its judgement dated 18th Sept, 2018 has ruled that the Insolvency and Bankruptcy Code, 2016 cannot be made applicable to ‘financial service providers’ including ‘non-banking financial institutions’ and MFI’s banks, which have been kept outside the purview of the Code.
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GST: Tax Dept files FIR against Trader for evading Rs. 50 Cr
Read more at: http://www.taxscan.in/gst-tax-fir-trader-evading/29791/
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#Column : Cross Charge and GST Implications writes Adv.G.Natarajan
Read more at: http://www.taxscan.in/cross-charge-gst-implicatcions/29786/
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Gujarat HC Stays Service Tax Audit Post-GST Rollout [Read Order]
Read more at: http://www.taxscan.in/gujarat-hc-stays-service-tax-audit-post-gst-rollout-read-order/29794/
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Haryana to form GST Appellate Tribunal
Read more at: http://www.taxscan.in/haryana-to-form-gst-appellate-tribunal/29797/
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GST applicable to Advance Amount Received for Sale of Villas after Issue of Occupancy Certificate by Local Panchayat: AAR [Read Order]
Read more at: http://www.taxscan.in/gst-advance-amount-received-sale-villas-issue-occupancy-certificate-local-panchayat-aar/29820/
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Event Management Support Services provided in Goa to a Registered Person in Maharashtra subject to Integrated GST: AAR [Read Order]
Read more at: http://www.taxscan.in/event-management-support-services-provided-goa-registered-person-maharashtra-subject-integrated-gst-aar/29809/
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Sec 80P Deduction not available to a Co-operative Society having an Area of Operation in more than One Taluk: ITAT [Read Order]
Read more at: http://www.taxscan.in/sec-80p-deduction-not-available-to-a-co-operative-society-having-an-area-of-operation-in-more-than-one-taluk-itat/29807/
