Posted On:  3 weeks ago


Top 9 landmark cases and judgments that brought a change in India

Vodafone was embroiled in a $2.5 billion tax dispute over its purchase of Hutchison Essar Telecom services in April 2007.  The transaction involved purchase of assets of an Indian Company, and therefore the transaction, or part thereof was liable to be taxed in India as per the allegations of tax department. Vodafone Group entered India in 2007 through a subsidiary based in the Netherlands, which acquired Hutchison Telecommunications International Ltd’s

article author Dharmesh Jain

Posted On:  3 weeks ago


How to ensure that rent you paid is not claimed as fake by IT Department? And get proper HRA exemption

Recently in 2017 March, ITAT Mumbai Bench did not allow HRA exemption claim stating it as based on sham rent payments supported only by rent receipts from mother without paying actual rent. In the view of above decision many salaried employee who are claiming HRA by paying to their parents, relative and friends have to know proper rule under which HRA can be claimed and what all documents are required, including legal judgments supporting the claim. The article give you a detail guidelines so that you can claim proper HRA as per the rules and have adequate documents to support your claim. There is nothing in the law to stop the taxpayer from renting premises from parents and relative and claiming the HRA benefit for such rental payment.

article author CA Chirag Chauhan

Posted On:  3 weeks ago


Your PAN number will be Invalid and you will not able to file tax return, if not linked to Aadhaar card by 1 July 2017

How smartly the government has used Aadhaar to reduce corruption from direct benefit transfer for LPG in which the subsidy on LPG cylinders will be credited directly to consumers' Aadhaar-linked bank accounts, KYC verification process to recently launching “Aadhaar Pay” on 14th April 2017, a payment system which will enable people to carry out bank transactions just by using their thumb impressions. While the law had empowered the Centre to mandate use of Aadhaar in most of the center funded schemes, since then the corruption level has significantly reduce. In recent Finance Act 2017 government has mandated use of Aadhaar for filing returns and linking of all existing PAN Number with Aadhaar Number.

article author CA Chirag Chauhan

Posted On:  3 weeks ago


FAQs on Transitional Provisions under Goods and Service Tax

A registered person, other than a person opting to pay tax under composition scheme, shall be entitled to take credit in his electronic credit ledger the amount of CENVAT (or VAT credit) credit carried forward in the return of the last period before the appointed day, subject to the conditions stated therein. (Section 140(1) of the CGST/SGST Act)

article author One Roof Consultant

Posted On:  3 weeks ago


FAQs on Frontend Business Process on GST Portal

Goods and Services Tax Network (GSTN) is a not-for-profit, non-government company promoted jointly by the Central and State Governments, which will provide shared IT infrastructure and services to both central and state governments including tax payers and other stakeholders. The Frontend services of Registration, Returns, Payments, etc. to all taxpayers will be provided by GSTN. It will be the interface between the government and the taxpayers.

article author One Roof Consultant

Posted On:  3 weeks ago


Overview of IGST under Goods and Service Tax

A supply of goods and/or services in the course of inter-State trade or commerce means any supply where the location of the supplier and the place of supply are in different States, two different union territory or in a state and union territory Further import of goods and services, supplies to SEZ units or developer, or any supply that is not an intra state supply. (Section 7 of the IGST Act).

article author One Roof Consultant

Posted On:  3 weeks ago


FAQs on GST Offences & Penalties, Prosecution & Compounding under Goods and service tax

If any person transports any goods or stores any such goods while in transit without the documents prescribed under the Act (i.e. invoice and a declaration) or supplies or stores any goods that have not been recorded in the books or accounts maintained by him, then such goods shall be liable for detention along with any vehicle on which they are being transported.

article author One Roof Consultant

Posted On:  3 weeks ago


FAQs on Inspection, Search, Seizure and Arrest under GST

As per law dictionary and as noted in different judicial pronouncements, the term ‘search’, in simple language, denotes an action of a government machinery to go, look through or examine carefully a place, area, person, object etc. in order to find something concealed or for the purpose of discovering evidence of a crime. The search of a person or vehicle or premises etc. can only be done under proper and valid authority of law

article author One Roof Consultant

Posted On:  3 weeks ago


FAQs on Advance Ruling under Goods and Service Tax

Appellate authority for advance ruling (AAAR), shall be constituted under the SGST Act or UTGST Act and such AAAR shall be deemed to be the Appellate Authority under the CGST Act in respect of the respective state or Union Territory. An applicant, or the jurisdictional officer, if aggrieved by any advance ruling, may appeal to the Appellate Authority.

article author One Roof Consultant

Posted On:  3 weeks ago


FAQs on Appeals, Review and Revision in GST

Section 2(99) of the Act defines “Revisional Authority” as an authority appointed or authorised under this Act for revision of decision or orders referred to in section 108. Section 108 of the Act authorises such “revisional authority” to call for and examine any order passed by his subordinates and in case he considers the order of the lower authority to be erroneous in so far as it is prejudicial to revenue and is illegal or improper or has not taken into account certain material facts, whether available at the time of issuance of the said order or not or in consequence of an observation by the Comptroller and Auditor General of India, he may, if necessary, he can revise the order after giving opportunity of being heard to the notice

article author One Roof Consultant

Posted On:  3 weeks ago


FAQs on Refunds under Goods and Service Tax (GST)

“Refund” includes (a) any balance amount in the electronic cash ledger so claimed in the returns, (b) any un utiized input tax credit in respect of (i) zero rated supplies made without payment of tax or, (ii) where the credit has accumulated on account of rate of tax on inputs being higher than the rate of tax on output supplies (other than nil rated or fully exempt supplies), (c) tax paid by specialized agency of United Nations or any Multilateral Financial Institution and Organization notified under the United Nations (Privileges and Immunities) Act, 1947, Consulate or Embassy of foreign countries on any inward supply

article author One Roof Consultant

Posted On:  3 weeks ago


FAQs on Assessment and Audit under GST

As a taxpayer has to pay tax on self-assessment basis, a request for paying tax on provisional basis has to come from the taxpayer which will then have to be permitted by the proper officer. In other words, no tax officer can suo-moto order payment of tax on provisional basis. This is governed by section 60 of CGST/SGST Act. Tax can be paid on a provisional basis only after the proper officer has permitted it through an order passed by him. For this purpose, the taxable person has to make a written request to the proper officer, giving reasons for payment of tax on a provisional basis. Such a request can be made by the taxable person only in such cases where he is unable to determine

article author One Roof Consultant

Posted On:  3 weeks ago


FAQs on Input Tax Credit under Goods and Service Tax

Ans. Input tax means the central tax (CGST), State tax (SGST), integrated tax (IGST) or Union territory tax (UTGST) charged on supply of goods or services or both made to a registered person. It also includes tax paid on reverse charge basis and integrated tax goods and services tax charged on import of goods. It does not include tax paid under composition levy.

article author One Roof Consultant

Posted On:  3 weeks ago


FAQs on Job Work under Goods and Service Tax

Ans. Input tax means the central tax (CGST), State tax (SGST), integrated tax (IGST) or Union territory tax (UTGST) charged on supply of goods or services or both made to a registered person. It also includes tax paid on reverse charge basis and integrated tax goods and services tax charged on import of goods. It does not include tax paid under composition levy.

article author One Roof Consultant

Posted On:  3 weeks ago


FAQs on Overview of Goods and Services Tax (GST)

It is a destination based tax on consumption of goods and services. It is proposed to be levied at all stages right from manufacture up to final consumption with credit of taxes paid at previous stages available as setoff. In a nutshell, only value addition will be taxed and burden of tax is to be borne by the final consumer

article author One Roof Consultant

Posted On:  3 weeks ago


FAQs on Registration under Goods and Service Tax

As per Section 22 of the CGST/SGST Act 2017, every supplier (including his agent) who makes a taxable supply i.e. supply of goods and / or services which are leviable to tax under GST law, and his aggregate turn over in a financial year exceeds the threshold limit of twenty lakh rupees shall be liable to register himself in the State or the Union territory of Delhi or Puducherry from where he makes the taxable supply.

article author One Roof Consultant

Posted On:  3 weeks ago


FAQS on Meaning and Scope of Supply under GST

The taxable event under GST shall be the supply of goods or services or both made for consideration in the course or furtherance of business. The taxable events under the existing indirect tax laws such as manufacture, sale, or provision of services shall stand subsumed in the taxable event known as ‘supply:

article author One Roof Consultant

Posted On:  3 weeks ago


FAQs on Levy of and Exemption from Tax under GST

Article 246A of the Constitution, which was introduced by the Constitution (101st Amendment) Act,2016 confers concurrent powers to both, Parliament and State Legislatures to make laws with respect to GST i. e. central tax (CGST) and state tax (SGST) or union territory tax (UTGST). However, clause 2 of Article 246A read with Article 269A provides exclusive power to the Parliament to legislate with respect to inter-State trade or commerce i.e.integrated tax (IGST).

article author One Roof Consultant

Posted On:  1 month ago


Guidelines for waiver of interest charged under section 201(1A) (i) of the Income-tax Act, 1961

In exercise of the powers conferred under clause (a) of sub-section (2) of section 119 of Income-tax Act , 1961 (the Act), Central Board of Direct Taxes (the Board), hereby directs that the Chief Commissioner of Income-tax and Director General of Income-tax may reduce or waive interest charged under section 201(1A)(i) of the Act in the classes of cases specified in paragraph 2 of this Order for the period and to the extent the Chief Commissioner of Income-tax/ Director General of Income-tax may deem fit.

article author One Roof Consultant

Posted On:  1 month ago


Extension and strengthening of the facility of Aadhaar Seeding Services by EPFO offices for KYC Seeding

In pursuance to the policy of the Government of India, of optimum use of information technology for efficient service delivery and widening the reach of EPF benefits, appropriate guidelines have been issued from this once for installation and operatonalisation of proper infrastructure in the field offices of ERR) to help and facilitate our subscribers/members to be onboard and take benefits of the current digitization of the service delivery system which will result in better and smooth deliver” of the benefits to the intended target groups

article author One Roof Consultant