E-Way Bill Provisions Challenged in Gujarat High Court: Issues notice to Centre and State [Read Petition & Order]
Read more at: http://www.taxscan.in/e-way-bill-provisions-challenged-gujarat-high-court-issues-notice-centre-state/31350/
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NCLAT : In Peoples General Hospital Pvt. Ltd. vs. Alliance Industries Limited & Ors.
NCLT does not have the power to review its own order.
Read full case law at : https://dasgovernance.com/2018/12/08/nclat-in-peoples-general-hospital-pvt-ltd-vs-alliance-industries-limited-ors/
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Petition denying Relief to Importers: Gujarat High Court asks response from Govt
Read more at: http://www.taxscan.in/petition-importers-gujarat-high-court/31345/
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# CBIC has issued a Press Release to inform that due date of GSTR-9/9A/9C has been extended till MARCH 31, 2019
# CBIC has issued a press release on effective tax rate on sale of complex, building, flat etc. in Pre-GST and Post-GST Regime dated 08.12.2018.
# CBIC notifies revised All Industry Duty Drawback Rates Schedule applicable w.e.f. 19 Dec. 2018, vide Notification No. 95/2018 Customs (NT) dt. 6 Dec. 2018
# GST : FAQs on Form GSTR-9C
http://idtc.icai.org/publications.php
# GST : Due date of filing TDS returns under GST laws for the Oct-Dec period till Jan 31, 2019
# ICAI : Exposure Draft of Guidance Note on Reports in Company Prospectuses (Revised 2018) issued by the Auditing and Assurance Standards Board
https://resource.cdn.icai.org/53011aasb42510.pdf
# Upcoming Due Date
11-12-2018- Due date for filing GSTR -1 for the month of November 2018 for taxpayers with Annual Aggregate turnover More than 1.50 Crore
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👉🏻ICAI accuses 3 top audit firms of professional misconduct for IL&FS crisis
(The names listed by the ICAI include three top-notch audit firms - Deloitte Haskins & Sells, BSR & Associates LLP and SR Batliboi.)
👇🏻 👇🏻 👇🏻
https://goo.gl/5HgssV
👉🏻No TDS on interest income up to Rs 50,000 in case of senior citizens - CBDT
(CBDT has said that it has been brought to its notice that in case of senior citizens, some TDS deductors and banks are deducting TDS despite the amount of income not exceeding Rs 50,000 in a FY)
👇🏻 👇🏻 👇🏻
https://goo.gl/HqTkVK
👉🏻GST - Effective tax rate on complex, building, flat etc
(Ministry of Finance said that housing projects in the affordable segment or any other housing scheme of state Govt will attract GST of 8%.)
👇🏻 👇🏻 👇🏻
https://goo.gl/qa9n61
👉🏻IBBI invites online applications to act as IRP and Liquidator
(Expression of Interest to be in the Panel under Insolvency Professionals to act as Interim Resolution Professionals and Liquidators (Recommendation) (Second) Guidelines, 2018)
👇🏻 👇🏻 👇🏻
https://goo.gl/QDyYWL
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GST Portal updates Website Policy: Prohibits Scrapping
Read more at: http://www.taxscan.in/gst-portal-website-policy-scrapping/31359/
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CBI files Charge sheet against Income Tax Officer in a Bribery Case
Read more at: http://www.taxscan.in/cbi-income-tax-officer-bribery/31357/
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GST not leviable on Sale of Flats with Completion Certificates: Govt
Read more at: http://www.taxscan.in/gst-sale-flats-completion-certificates/31348/
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CBDT Notifies Applicability of S. 115JG on Conversion of Indian Branch of Foreign Bank into Indian Subsidiary Company [Read Notification]
Read more at: http://www.taxscan.in/cbdt-notifies-applicability-of-s-115jg-on-conversion-of-indian-branch-of-foreign-bank-into-indian-subsidiary-company/31376/
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# ICAI Election 2018: Voting for the 24th Central Council and 23rd Regional Councils has been concluded on 08.12.18. The counting of votes for Northern Region to begin at 10 AM on 19 DEC 2018 at ICAI Bhawan, A-29, Sector-62, Noida-201309.
# GST Annual Returns: CBIC has decided to EXTEND the Due date for filing of Form GSTR-9, Form GSTR-9A and Form GSTR-9C to 31 MAR 2019, Notification is expected soon.
# CBDT notifies NO deduction of TDS u/s 194A in case of Senior Citizens for an amount upto Rs.50,000 – N.N.06/2018, dt.06.12.18.
# IT: Assessee was entitled to make additional grounds / claims in the assessment proceedings u/s 153A, though the same were not made in the earlier assessment proceedings u/s.143 of the act - Universal Medicare Pvt. Ltd. Vs DCIT, CC (2018 (12) TMI 406 - ITAT Mumbai).
# IT: Imposition of penalty u/s 271(c) for failure to deduct TDS, is not a criminal liability, but is only a civil liability and therefore, bad motive on the part of the assessee is not essential to be proved – CIT (TDS) Vs Eurotech Maritime Academy Pvt. Ltd. (2018 (12) TMI 215 - Kerala HC).
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NAA holds J&J Distributor Guilty of not passing GST Benefits [Read Order]
Read more at: http://www.taxscan.in/naa-jj-distributor-guilty-gst-benefits/31388/
Govt widens Tax Exemption Limit for National Pension Scheme
Read more at: http://www.taxscan.in/govt-widens-tax-exemption-limit-national-pension-scheme/31409/
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👉CBDT notifies the Applicability of provisions of Unabsorbed Depreciation Set Off/ Carry Forward of Losses, Tax Credit under section 115JG of the Income Tax Act, 1961 for Conversion of Indian Branch of Foreign Bank into Indian Subsidiary Company
👉The Provisional Figures of Direct Tax Collections up to November 2018 show that gross collections are at Rs. 6.75 Lakh Crore which is 15.7% higher than the gross collections for the corresponding period of last year
👉Big Win for INDIA: UK's Westminster Magistrates' Court orders extradition of Vijay Mallya to India. The matter of extradition of Vijay Mallya to India has now been referred to the UK's secretary of state.
👉SEBI is considering steps to strengthen the framework for Debenture Trustees, including raising Minimum Net Worth requirement for registration of such entities and introducing E-Voting provision to obtain consent of the unitholders
👉NSE imposes Fines & issues notices to IL&FS Group firms, Videocon Industries, Unitech & others, for Non-Compliance with Listing Norms
👉SBI plans to raise up to $1.25 billion (around Rs 9,069 crore) by issuing bonds in Foreign Currency
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# GST : 3 New Functionality on Advance Ruling, GST Refund & GST APL-01 now available on GST Portal
# IGST Refund : HC allows modifications in GSTR-1 & GSTR-3B - Star Rays Vs Union of India (Bombay High Court)
# DISA AT Exam : The Question/answer Database for DISA/CISA Exam (Covering 700 plus QA) - https://www.casango.org/qa_for_disa/
# Due Date 15 -12- 2018 – Deposit of IIIrd instalment of Advance tax for FY 2018-19.