CAclubindia Articles

Can a Certificate issued under CGST Rule 89(2)(m) by a CA, be made a basis, for Arrest u/s 69 read with section 132 of the CGST Act?

Mayank Mohanka 23 May 2022 at 13:32

The recent unfortunate development of the arrest of two CAs by the Officers of CGST, Gurugram Commissionerate, on 18.5.2022, on the ground of alleged issuance of false Certificate in fraudulent availment of ITC and consequent refunds of around Rs.15 crores

SC: No IGST on Ocean Freight under RCM for CIF Import

Bimal Jain 23 May 2022 at 11:18

The Hon'ble Supreme Court in Union of India & Anr. v. M/s Mohit Minerals Pvt. Ltd.[Civil Appeal No. 1390 of 2022 dated May 19, 2022] upheld the judgement given by the Hon'ble Gujarat High Court to hold that no IGST is payable on ocean freight under Reverse Charge Mechanism ("RCM") for Cost, insurance, and freight ("CIF") imports as Indian importer is liable to pay IGST

Exemption cannot be denied once granted by the competent Revenue Authority on components required for solar power generation

Bimal Jain 23 May 2022 at 08:45

Whether the Appellant is entitled to the benefit of the Exemption Notification for the galvanised solar structure cleared to solar power generating companies?

Decoding Section 115 BAB of Income Tax Act

Vaibhav Singh 22 May 2022 at 07:32

The government has introduced a favourable tax regime for new manufacturing companies. The Taxation Laws (Amendment) Ordinance, 2019 passed on 20 September 2019 has inserted Section 115BAB offering a low tax rate of 15% (plus surcharge and cess) to new manufacturing companies

Everything About LLP-11 (V3)

CS Divesh Goyal 21 May 2022 at 07:43

In this editorial author shall discuss, the provisions, process, criticalities of Web-form LLP-11 i.e. "LLP-11 is Annual Return of LLP. Due to change of MCA version from V2 portal to V3 Portal Now, LLP-11 form shall be Web Based form.

Age Old Question: Is CA Course Difficult?

Vishal Kudve 21 May 2022 at 07:43

This article addresses the age-old question - Is clearing CA difficult? Is CA tough? Is it very hard to study for CA? and what not…

Uncontrolled Systems And Procedures Of GST

CA Sudhir Halakhandi 20 May 2022 at 11:27

The revenue of GST is increasing continuously and for this the business, industry and government of India deserves congratulations but at the same time there is no reduction in the problems of tax payers and professionals and the government should now pay attention to them

Analysis of risk parameters of scrutiny of GST Returns as per SOP issued by CBIC

Ishan 20 May 2022 at 08:59

The Indicative list of Parameters introduced by CBIC vide Instruction No. 02/2022-GST dated 22.3.2022 in Standard Operating Procedure (SOP) for Scrutiny of returns u/s 61 of CGST Act read with Rule 99 of CGST Rules for F.Y. 2017-18 and F.Y. 2018-19 are enumerated hereunder:

All about Employees' Provident Fund

InstaFiling Team 20 May 2022 at 08:59

An important point to note here is that any organization that has a minimum of 20 employees is considered liable to give its employees the benefits of the EPF scheme.

All about Insider Trading

CA Ranganatha Achar K 19 May 2022 at 12:05

Illegal insider trading refers generally to buying or selling a security, in breach of a fiduciary duty or other relationship of trust and confidence, on the basis of material, non-public information about the security.