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In the case that the Input Tax Credit claimed in GSTR-3B and GSTR-2A are inconsistent, the format of the certificate is necessary to demonstrate the validity of the supply made. The Central Board of Indirect Taxes and Customs (CBIC) had made it clear that the GST department can request a certificate from a Chartered Accountant […]
The Chhattisgarh Authority for Advance Ruling (AAR) ruled that the supply of vaccines over the counter through a separate pharmacy run by a hospital is subject to GST. Anju Parakh, the petitioner, requested a preliminary judgment about the application of Goods and Services Tax to vaccinations administered by doctors at their clinic (OPD). The applicant […]
A Simple Description of the SDMT IDE Debugging Feature SDMT provides a unique IDE debugging facility while running a web application without restarting the application. Also, SDMT can again start debugging the code from the beginning. Here, SDMT also shows the example that if we change the value in the variable, that particular change is […]
Dealers cannot be forced to carry forward Input Tax Credit (ITC) from the current system to the Goods and Services Tax (GST) Regime if they opt to claim a refund instead, according to a recent ruling by a single bench of the Madras High Court. On behalf of the revenue, Amirta Dinakaran said that the […]
In a ruling, the Himachal Pradesh High Court ruled that a delay of 1 day raises hyper-technical reasons for rejecting an appeal for restoration of GST registration. According to the division bench of Justice Tarlok Singh Chauhan and Justice Virender Singh, the appellate authority took an extremely technical and academic view, which is grossly violating […]
Simple Definition of a Trial Balance A ledger is created when many entries are made in different accounts. Trial balance is the presentation of all the ledger balances on a particular date in a single worksheet. It can be understood by the following: System of Dual Entry – The recording of two consecutive, equal, and […]
The Delhi Bench of the Income Tax Appellate Tribunal permitted the capital gain exemption under section 54 of the Income Tax Act on the basis of the amount identical to the capital gains that would be utilised for the acquisition of the new house. The two-member bench of Yogesh Kumar US (Judicial Member) and Dr. […]
Individuals seek methods to reduce their income taxes. The illegal income tax savings would be drawn into the light. But the national government gives various ways to diminish taxes. All are counted under statutory compliance and are available for every assessee. The Income Tax Act of 1962 comprises various procedures which permit assessees to diminish […]
The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) stated that the causes would have been recorded for opening the assessment again and is to be read since the same was recorded via the Assessing Officer and could not be increased. The Assessing Officer, with a total income of Rs. 9,81,60,144 has fled assessment, […]
