, Tax Updates From CS GAURAV KUMAR SHARMA (15th Nov 2017 ) ~ CS GAURAV SHARMA

November 15, 2017

Tax Updates From CS GAURAV KUMAR SHARMA (15th Nov 2017 )

Today Last date 15th November 2017 - DVAT submit details of closing stock held on 31st Mar & 30th June 2017

GST: Revised CGST Rate for restaurants & job work on handicraft goods notified vide Notification No. 46/2017-dated 14/11/2017. - CBEC amends notification to specify rate @ 2.5% for standalone restaurants and @9% for other restaurants, reduce rate of job work on handicraft goods @ 2.5%.

GST: CBEC amends notification no. 5/2017-Central tax (Rate) dated 28.06.2017 to give effect to 23rd GST council decisions regarding restriction of ITC on certain fabrics - Notification No. 44/2017

Case Study: Mere claim for rebate would not amount to furnishing inaccurate particulars: Madras High Court - Gopalratnam Santha Mosur Vs Income Tax Officer (Madras High Court)

Case Study: Expenditure on improvement of existing business is revenue expense - Spectrum Coal & Power Ltd. Vs ACIT (ITAT Mumbai)


Case Study: Recording of satisfaction U/s. 153C when AO of Appellant & Searched Person is common - Pr. CIT Vs. Instronics Ltd. (Delhi High Court)






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