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SAG Infotech once again comes up with the latest features in the Genius tax management software package including extra reporting tools. Summarized Consolidated Reports The first and the latest features one would find out when opening the Genius tax filing software dashboard and clicking on the main ‘Gen Income tax‘ tab after which there will […]
In the wake of the second Covid-19, the Income Tax Department has stretched the deadlines for various Income Tax compliance and provided relief also in certain cases. Here is the list of the income tax compliances (updates) Here we have provided complete notifications related to the Income Tax and TDS provisions as per the official […]
In a recent ruling passed by The Income Tax Appellate Tribunal (ITAT), Mumbai bench it was held that income tax cannot be levied on forex gains that arise against repayment of an interest-free loan by relatives. While carrying the scrutiny of the income tax return that had been filed by the assessee, the Assessing Officer […]
The Central Board of Indirect Taxes and Customs (CBIC) has circulated the ‘advisory’ regarding the implementation/execution of PMT-03 for re-crediting the Input Tax Credit (ITC) that has been approved as a refund. The Board has Highlighted the following Notification: “Notice bearing number16/2020-Central Tax dated March 23, 2020, through which sub-rule4 A has been added in […]
The Karnataka Authority of Advance Ruling passed an order that no GST shall be levied on the rent received from the ‘Backward Classes Welfare Department, Government of Karnataka’. The reason attributed for the aforesaid precedent is that the hostel (rented to the ‘Backward Classes Welfare Department, Government of Karnataka’) is working for the welfare of […]
The Goods and Service Tax Network (GSTN) has enabled the option to authenticate the e-KYC or upload Aadhaar Card documents on the GST Portal This informational GSTN portal keeps each and every data that provides the helpful guide about services, registration process, tutorials, GST practitioner guide, payment guide, challan creation and much more” of Partner/ […]
The Karnataka AAR held that 18% GST is relevant on erection & commissioning of lifts or escalators for domestic use. The applicant is the owner of M/s BG Elevators and Escalators Private Limited is an enrolled private ltd company that performs trading and erection and commissioning of lifts and elevators for domestic and commercial use. […]
The Allahabad high court held that the GST dept to provide the suggestion to the union government for building the appellate tribunal in Allahabad and for 4 states benches Ghaziabad, Lucknow, Varanasi, and Agra in Uttar Pradesh. The two judges S P Kesarwani and Justice Y K Srivastava said to the central and to the […]
The Kerala High court ruled that the decided order is now being passed which is in Form GST ASMT-13 in which form GST DRC-07 is the only report. The applicant Hash constructions ask the petitioner order passed through the joint commissioner and plead beneath the central goods and services tax act through the refusing the […]