CAclubindia Articles

Process of Formation & Registered Gratuity Trust

Posted by Rajesh Kumar 05 January 2022 8892 Views

Steps for Formation of Gratuity Trust

Genesis of Revision order of CIT U/s 264 of IT Act 1961

Posted by CA, CPA (USA) Shikhar Garg 05 January 2022 8887 Views

Section 264 of the Income Tax Act provides, Powers to the Commissioner of Income Tax (CIT) to exercise the order in favour of the assessee.

8 Easy Ways to Prepare for Your Personal Financial Crisis

Posted by Shree 04 January 2022 4788 Views

As personal financial catastrophes are almost always unpredictable, one must consider getting prepared for the same beforehand. This will lessen its impact and reduce uncertainty and stress. In this regard, individuals can follow the aforementioned pointers and plan better.

Deferred the decision to change the rates in textiles from 5% to 12% w.e.f. January 01, 2022

Posted by Bimal Jain 04 January 2022 3249 Views

The GST Council had taken a laudable decision to defer hike in GST rate on textiles from 5% to 12% w.e.f January 1, 2022 as it will give much-needed impetus and support to textile sector

Blocking of filing of GSTR 1 if GSTR 3B is pending

Posted by Rohit Kumar Singh 04 January 2022 6259 Views

GSTN portal has implemented Rule-59(6) of the CGST Rules, 2017 with immediate effect. As per Notification No. 35/2021 - Central Tax dated 24th September 2021, clause (a) of the sub-rule (6) of Rule 59 of CGST Rules, 2017 was amended.

Important changes in GST w.e.f 1st January 2022

Posted by Rohit Kumar Singh 04 January 2022 15519 Views

Central Government has brought into effect the provisions of Finance Act, 2021 effective from 1st January, 2022. In the Budget of 2021-22, changes in Finance Bill,2021 were proposed to make changes in CGST Act, 2017.

Supersession of Facelesss Appeal Scheme 2020

Posted by Aman Gupta 03 January 2022 6267 Views

CBDT vide Notification No. 139/2021/F. No. 370142/66/2021-TPL dated 28.12.2021 substituted the Faceless Appeal Scheme, 2020 ("old scheme") with Faceless Appeal Scheme, 2021 ("new scheme").

File GSTR-1 in time to avoid litigations in GST

Posted by CA Umesh Sharma 03 January 2022 10226 Views

If supplier does not file GSTR-1 timely and correct it can affect the business relationship adversely and the recipient can also recover interest from supplier as recipient cannot claim ITC of the same.

Writ jurisdiction of high court against repudiation of life insurance claim

Posted by FCS Deepak Pratap Singh 03 January 2022 2399 Views

The Hight Courts and the Apex Court of India has given vide power of supervisory role and to hear and decide cases based on some specific criteria. These courts generally do not interfere the normal proceedings of Quasi-Judicial Authorities and Tribunals or other forums.