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Sunil Modgill
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Happily married and love my life partner..please no hangout for me..please if I am posting some thing on g+ that does not mean it is me ..I
Happily married and love my life partner..please no hangout for me..please if I am posting some thing on g+ that does not mean it is me ..I

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PENALTY FOR E-WAY BILL 😊

● Section 122- Penalty

》Where a taxable person who transports any taxable goods without the cover of documents as may bespecified in this behalf;
{even when part B of EWB is not filled}

》he shall be liable to pay a penalty of -

Ten thousand rupees
or
an amount equivalent to the taxevaded
(whichever is higher.)

● Rule-138A.

》 Documents and devices to be carried by a person-in-charge of a conveyance.

(1) The person in charge
of a conveyance shall carry—
(a) the invoice or bill of supply or delivery challan, as the case may be; and

(b) a copy of the e-way bill or the e-way bill number, either physically or mapped to a Radio Frequency Identification Device embedded.
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UPDATES😊

1) No need for COMPOSITION SUPPLIERS to furnish data of INWARD SUPPLIES from registered persons (4A of Table 4 of GSTR-4) under GST. Press Release Ministry of Finance dated 17.4.18.

2) Case Study- Consultancy charges Incurred for making investment are allowable - Pr. CIT Vs. Sintex Industries Ltd. (Gujarat High Court)

3) MCA - It is proposed to amend Companies (Registration Offices and Fees) Rules 2014 to levy additional fee @Rs.100 per day for filings under Section 92 (Annual Return) or 137 (Annual Financial Statement) of the Companies Act, 2013. Once notified, the additional fee @Rs.100 per day (beyond the normal date of filing) shall become payable in respect of 23AC, 23ACA, 23AC XBRL, 23ACA XBRL, 20B, 21A, MGT-7, AOC-4, AOC-4 XBRL and AOC-4 CFS.

4) Due Date:
■18-04-2018 -Due date of GSTR-4 (filed by Composite dealer) for the period of Jan to March 2018

■20-04-2018 -GSTR-3B (GST Monthly Summery) for the Month of March 2018

5) UPS along with the battery cannot be held as naturally bundled but to be considered as Mixed Supply within the meaning of Sec-2(74) of the GST Act, as they are supplied under a single contract at a combined single price – AAR in Switching Avo Electro Power Ltd.

6) CBDT invites comments on draft notification proposing amendment to Rule 44E, Form 34C, 34D and 34DA as per BEPS Action 5, for improving transparency in tax rulings on Permanent Establishment (PE).

7) A&CA It is a cardinal principle of the Arbitration and Conciliation Act (A&CA) that the parties are free to decide the number of arbitrators, provided, it is an odd number, as well as the procedure for appointing them – IBI Consultancy India Pvt. Ltd. Vs, DSC Ltd. (2018 (4) TMI 781 - SC).

8) No penal proceedings have been initiated against the assessee, when he was alive. Assessment has not been done in the hands of the legal representatives and therefore, Section 159 of the Income Tax Act, cannot be applied to the legal representative – CIT Vs. Late Dr. K.C.G. Verghese (2018 (4) TMI 801 - Madras HC).

9) As derivative transactions being separate from trading in shares, Exp. to Sec-73 of Income Tax Act, will not be applicable to such transactions and hence, the loss incurred by the assessee in derivative transactions through recognised stock exchange has to be set off against other business income as per provisions of the Act – CIT Vs. Sri Vasavi Gold & Bullion Pvt. Ltd. (2018 (4) TMI 802 - Madras HC).
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CLARIFICATION IN FORM GSTR-4😊

Doubts are being raised about the manner of filing the quarterly return by composition dealers in FORM GSTR-4.

In particular, there is a doubt with respect to the instruction at Sl. No. 10 appended to the said FORM which reads as below:

For the tax periods July, 2017 to September, 2017 and October, 2017 to December, 2017, serial 4A of Table 4 shall NOT be furnished.

In this regard, it is hereby clarified that since auto-population of the details of the inward supplies including supplies on which tax is to be paid on reverse charge is not taking place; taxpayers who have opted to pay tax under the composition levy shall not furnish the data in serial number 4A of Table 4 of FORM GSTR-4 for the tax periods January, 2018 to March, 2018 and subsequent tax periods.
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करूँ तेरा ज़िक्र या,,
अहसासों में रहने दूँ,,
करूँ तुझे महसूस या,,
धड़कन में बहने दूँ ,,
तुझे लफ्जों में करूँ बयां या “इबादत” में रहने दूँ !!
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