Business Concept’s Daily E-News Letter- 24-09-2021

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1. Issuance of scns in time bound manner- Regarding

GST / September 24, 2021

Instructions w.r.t. issuance of Show Cause Notices

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2. GST compensation cess – will it become a permanent feature?

GST / September 24, 2021

A promise was made to compensate loss of revenue due to introduction of GST that may be suffered by the states, considering the tax collection of 2015-16 as the base year and an assured growth of tax collection year on year at 14% for the next five years which ends on June 30, 2022. A …

GST compensation cess – will it become a permanent feature?Read More »

3. A Time to introspect: On Centre-State Dialogue and GST

GST / September 24, 2021

At its first physical meeting during the pandemic, the GST Council approved a flurry of changes. Concessional tax rates on vital COVID-19 equipment such as oxygen concentrators will lapse on September 30, while the lower rates on medicines were extended till December. Whatever the pace of vaccination, there are no signs the virus and its variants …

A Time to introspect: On Centre-State Dialogue and GSTRead More »

4. GST is applicable on freelancers if they meet certain criteria laid down under the tax laws

GST / September 24, 2021

If you are a salaried employee, you do not have to pay goods and services tax (GST). But if you are a freelancer—lawyer, architect, designer, developer, sales professional, etc.— you have to pay GST in certain cases. “Under current GST laws, any person supplying taxable services must be registered in the state from where he/ she is …

GST is applicable on freelancers if they meet certain criteria laid down under the tax lawsRead More »

5. ITC Fraud in GST- Press release Haryana State GST-Intelligence unit

Press release on arrest of Vijay Garg (M/s Shree Shyam Traders) by HGST-IU for ITC fraud in GST.

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1. Income tax portal is in much better shape: Infosys

INCOME TAX / September 24, 2021

After coming under intense scrutiny for technical glitches in the income tax e-filing portal, Infosys has addressed some of the concerns. The company on Thursday said that over 1.5 crore returns have been filed till date. It said over three crore taxpayers have successfully completed various transactions on the portal. It said that in September, more than …

Income tax portal is in much better shape: InfosysRead More »


CIT Has Rejected the Appeals Without Hearing the Assessee, So We are Giving Opportunity of Being Heard to the Assessee: ITAT Agra

In the case of Smt. Poonam Shivhare vs A.C.I.T., ITAT Agra has held that Having carefully examined the order of the CIT(A) in the aforesaid cases, we find that the CIT(A) has rejected the appeals without hearing the assessee, although, he has discussed the issue on merits. In the light of these facts, we are of the view that CIT(A) has heard the assessee. We, therefore, set aside the order of the CIT(A) and restore the matter back to his file with the direction to adjudicate these appeals afresh on merit after affording opportunity of being heard to the assessee. The assessee is directed to cooperate in the fresh proceeding before the CIT(A).

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1. NFRA Issues Audit Quality Review Report

MCA Press Release dt. 23/09/2021: NFRA issues Audit Quality Review (AQR) report of statutory audit of IL&FS Transportation Networks Limited (ITNL) for FY 2017-18 The National Financial Reporting Authority (NFRA)…

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Extension of AGM

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3. Partnership Deed Format- Word and PDF

FORMAT OF DRAFT PARTNERSHIP DEED in India This Deed of Partnership is executed on this the ………day of ………, 20……. by and amongst:- …………………….. S/o  ………………………..R/o ……………………………………..  (hereinafter referred to…

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