Deferment of Reporting under clause 30C and clause 44 of Tax Audit Report

The Central Board of Direct Txe has vide Circular No.10 /2020 dated 24th April, 2020 stated that in view of the prevailing situation due to COVID-19 pandemic across the country, the reporting under clause 30C and clause 44 of the Tax Audit Report shall be kept in abeyance till 31 st March, 2021.

Section 44AB of the Income-tax Act, 1961 (‘the Act’) read with Rule 6G of the Income-Tax Rules, 1962 (‘the Rules’) requires specified persons to furnish the Tax Audit Report along with the prescribed particulars in Form No. 3CD. The existing Form No. 3CD was amended vide notification no. GSR 666(E) dated 20th July, 2018 with effect from 20th August, 2018. 

Let us understand the Clause 30C and Clause 44 of the Tax Audit Report.

Coercive Recovery of taxes etc during Corona Virus crisis

UOI vs. P. D. Sunny (Supreme Court)

Coercive Recovery of taxes etc during Corona Virus crisis: The orders of the Allahabad & Kerala High Courts directing the authorities to defer coercive recovery of taxes is stayed in view of the stand of the Government that the Government is fully conscious of the prevailing situation and would itself evolve a proper mechanism to assuage concerns and hardships of every one 

There shall be ex-parte ad-interim stay of the impugned judgment and order(s) passed in the aforesaid writ petitions and of further proceedings before the High Court(s), in view of the stand taken by the Government of India through learned Solicitor General, before us, that the Government is fully conscious of the prevailing situation and would itself evolve a proper mechanism to assuage concerns and hardships of every one 

Implementation of blocking facility of ITC by the GST authorities

CIRCULAR F. NO. 587/CE/167/POL/2019/11219-11269 DATED 13-1-2020

Attention is drawn to the provisions of Rule 86A(1)(a) of the Central Goods and Services Tax Rules, 2017 which empowers the CGST officers to block input tax credit (ITC) under certain circumstances.

Labourer gets Income Tax demand notice of Rs 1.05 crore! Do this if you also get

labourer in Maharashtra recently got a shock of his life when the Income Tax department sent him a notice to pay Rs 1.05 crore as income tax for the assessment year 2017-18 to the government. News agency ANI reported that daily wage labourer Bhausaheb Ahire had received an income tax notice, asking him to pay Rs 1,05,83,564 as income tax for assessment year 2017-18. The notice said that Ahire had an undisclosed amount of Rs 21,00,000 and Rs 56,81,000 as other deposits in his bank account. Shocked with the notice, Ahire told the news agency, “Ï am a labourer who gets work only once or twice a week. I earn my livelihood that way. I have not seen even Rs 1 lakh in my life, how can I pay Rs 1.95 crore? This is fraudulence. Action should be taken.”
https://www.financialexpress.com/money/income-tax/how-to-respond-to-wrong-income-tax-demand-notice-step-by-step-guide-labourer-rs-1-05-crore/1827294/lite/

Is GST liable on hiring charge of vehicle from one GTA to another GTA

The applicant being a Goods Transport Agency (GTA) wants to be registered under GST. It has sought an advance ruling to determine whether it can provide vehicles used for transportation of goods on hire basis to another GTA?