Levy of tax - non-banking financial services - sundry creditors ...

GST

April 19, 2024

Levy of tax - non-banking financial services - sundry creditors - GSTR-9C reconciliation statement - The Court found that treating total trade receivables as taxable turnover was erroneous, especially when the issue of non-payment to sundry creditors was raised. It was reasoned that only trade payables, not receivables, should have been considered for tax liability. The impugned order was set aside on this issue, and it was remanded for reconsideration.

View Source

← Previous Next →

Levy of tax - non-banking financial services - sundry creditors ...

GST

April 19, 2024

You may also like:

Due date for furnishing of annual returns in FORM GSTR-9, FORM GSTR-9A and reconciliation statement in FORM GSTR-9C for the FY 2017-2018 extended till 30.06.2019.

Removal of difficulty order regarding extension of due date for filing of Annual return (in FORMs GSTR-9, GSTR-9A and GSTR-9C) for FY 2017-18 till 31st March, 2019

GST Annual Returns - Due date for filing FORM GSTR-9, FORM GSTR-9A and FORM GSTR-9C extended till 31.3.2019

Seeks to extend the due date for furnishing of FORM GSTR 9/9C for FY 2018-19 till 30th September, 2020. - Notification

Last date for furnishing of Annual Return in the FORM GSTR-9 / FORM GSTR-9A and Reconciliation Statement in the FORM GSTR-9C for the Financial Year 2017-18 extended till...

Ad-hoc disallowance of 20% of the creditor value – there is no provision in the Act to disallow 20% out of sundry creditors. - AT

Non-Banking Financial Company (NBFC) categorization - Amendment made in sec 43B and 43D to substitute the words, “a deposit taking non-banking financial company or...

External Commercial Borrowings (ECB) Policy – Non-Banking Financial Company – Infrastructure Finance Companies (NBFC-IFCs) - Circular

Demand of late fee u/s 47(1) of the CGST / SGST Act - delay in filing of returns - Amnesty Scheme - GST portal does not support payment of late fee for late filing...

Admission of section 7 application - financial debt or not - The Tribunal affirmed that the disbursal of ₹5 crores to the corporate debtor by the financial...

Quick Updates: