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Calendar - September Events

 
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1

September 6

Central Excise

Monthly - Electronic payment of Central Excise Duties for the previous month - G.A.R.-7 Challan

Form: GAR - 7 See: Rule 8(1)

Central Excise Rules, 2017


2

September 7

Income Tax

Last date of submission of declaration i.e., for no TCS u/s 206C(1A) obtained from manufacturer to the Commissioner/Chief Commissioner of Income Tax as the case may be.

Form: Form No. 27C See: Rule 37C


3

September 7

Income Tax

Submission of copy of declaration forms received from deductee by the deductor for non deduction of TDS under section 197A before the Chief Commissioner or Commissioner

Form: Form 15G and Form 15H See: Rule 29C


4

September 7

Income Tax

Monthly payment of TDS on all types of payments (Except in the case where amounted is credited in the Month of March 31)

Form: Challan Form ITNS 281 See: Rule 30(2)


5

September 7

Income Tax

Monthly payment of TCS u/s 206C (other than government assessee)

Form: Challan Form ITNS 281 See: Rule 37CA


6

September 7

Income Tax

Payment on transfer of certain immovable property other than agricultural land

Form: Form No.26QB See: Rule 30 (2A)


7

September 10

Central Excise

Monthly Return - Last Date for filing of Return of Central Excise and Cenvat Credit for the previous month for 100% EOU units

Form: ER - 2 See: Rule 23(3)

Central Excise Rules, 2017


8

September 10

Central Excise

Monthly Return - Last Date for filing of Return of Central Excise and Cenvat Credit for the previous month For non SSI Units

Form: ER - 1 See: Rule 12(1)

Central Excise Rules, 2017


9

September 13

GST

ISD - Return for input service distributor

Form: GSTR - 6 See: Rule 65 - Section 20

Every Input Service Distributor


10

September 15

Income Tax

Advance Income Tax in case of company

Form: ITNS - 280 See: Chapter XVII Part C


11

September 15

Income Tax

Advance Income Tax in case of non-corporate assessee.

Form: ITNS - 280 See: Chapter XVII Part C


12

September 15

PF ESI

Monthly - Payment of Provident Fund Contribution for the previous month (plus grace period of 5 days)

In case of delay, interest will be charged from 16th day.


13

September 15

PF ESI

Monthly - EPF - Return of Employees qualifying for membership to the EPF for the first time during previous month.


14

September 15

PF ESI

Monthly - EPF - Return of member leaving service during the previous month


15

September 15

PF ESI

Exempted establishment - EPS/ EDLIS - Monthly Return of members joining service during the previous month.


16

September 15

PF ESI

Exempted extablishment - EPS/EDLIS - Monthly Return of Members Leaving Service During the previous Month


17

September 16

PF ESI

Monthly - Payment of ESI Contribution for the previous month (plus grace period of 5 days)


18

September 20

GST

OIDAR - Details of supplies of online information and database access or retrieval services by a person located outside India made to non-taxable persons in India

Form: GSTR - 5A See: Rule 64 - Section 14

Every registered person providing online information and data base access or retrieval services from a place outside India to a person in India other than a registered person


19

September 20

GST

Details of Outward Supplies and inward supplies where Date time limit for furnishing GSTR-1 and GSTR-2 extended - Monthly Return

Form: GSTR - 3B See: Rule 61 - Section 37 - Section 38


20

September 25

PF ESI

Monthly - Consolidated Statement of dues and remittance under EPF Scheme, 1952, EPS 1995 and Employees' Deposit Linked Insurance Scheme, 1976 of the previous month to which the dues relate.


21

September 30

Income Tax

Deposit of Income Tax - Self-assessment tax

Form: ITNS - 280 See: Section 140A


22

September 30

Income Tax

Due date of filing return in case of assessee whose accounts are required to be audited, or working partnerof a firm whose accounts are required to be audited, or Companies

See: Section 139


 
 
 
 
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Highlight: Notification regarding GST rate for branded cereal, pulses and flour

News: Notification regarding GST rate for branded cereal, pulses and flour

Highlight: Anti-dumping duty on import of bus/truck tyres from China

Highlight: Cabinet approves Extension of time period of the Scheme "Special Industry Initiative for J&K" (Sll J&K) - Udaan

Highlight: Non-payment of service tax - maintenance and repair charges - appellants had knowingly and deliberately shown the repair charges as job work charges to mislead about their taxability - demand confirmed.

Highlight: BAS - execution of the project of smart card for vehicle registration – implementing the SOC-VRC project - The fact that the Government has outsourced some part of the work and paid certain consideration for such outsourced work, does not make the activity subject to service tax.

Forum: Input tax credit

Forum: Cess paid instead of SGST

Forum: Excise duty credit on finished stock at additional place of business.

Circular: Amendments in Hand Book of Procedures 2015-20 –reg.

News: Cabinet approves Extension of time period of the Scheme "Special Industry Initiative for J&K" (Sll J&K) - Udaan

Highlight: Constitution of National Anti-profiteering Authority (NAA) under GST-reg. - Trade Notice

Highlight: Amendments in Hand Book of Procedures 2015-20 –reg. - Various amendments are made in Chapter-4 of Hand Book of Procedures 2015-2020.

Forum: GST rates on mobile recharge business

Circular: Constitution of National Anti-profiteering Authority (NAA) under GST-reg.

Forum: import purchase

Highlight: Sharing of expenses - BAS - promotion of business of group companies - sharing of expenditure for common facilities cannot be treated as service by one to another in such arrangement.

News: RBI Reference Rate for US $

Forum: 3B mistake

Article: Credit of unsold stock [Section 140(3)] - Actual Credit as well as Notional Credit - Part-I - GST Transitional provisions

Circular: Certain Clarifications sought on Construction Services provided in the Real Estate Sector – reg.

News: Anti-dumping duty on import of bus/truck tyres from China

News: Fast-track GST refund, else ₹ 65K cr may be stuck: Exporters

Highlight: It is open to the Settlement Commission to use best judgment in arrival of the figure. Nonetheless it has to explain the manner in which the best judgment figure has been arrived at by the Settlement Commission - HC

Highlight: Deemed dividend u/s 2(22)(e) - advances given to societies - in the absence of legal right of the assessee in the said society the amount advanced cannot be treated as deemed income.

Highlight: When electrical installations are treated as plant and machinery the depreciation has to be allowed @ 25% as per provisions contained u/s 32

TMI Note: Capital Gain - transfer of right in the land or transfer of land itself - addition u/s 50C - Harassment to the honest tax payers

Highlight: Option to avail composition scheme under GST by electronically filing an intimation in FORM GST CMP-02 and FORM GST ITC-03 upto 30-9-2017 - See Rule 3(3A)

TMI Note: Does ICDS apply for the purposes of computing exemption u/s 11 to 13.

Highlight: Voluntary Reporting of Estimated Current Income and Advance Tax Liability - CBDT issues draft notification

TMI Note: Certain ICDS provisions are inconsistent with judicial precedents. Whether these judicial precedents would prevail over ICDS.

Highlight: Provisions of ICDS shall prevail w.e.f. AY 2017-18 to the transactional issues dealt therein over earlier judicial pronouncements.

Notification: Levy of anti dumping duty on New/unused pneumatic radial tyres with or without tubes and/or flap of rubber (including tubeless tyres) having normal rim dia code above 16 originating in, or exported from China PR

News: Voluntary Reporting of Estimated Current Income and Advance Tax Liability

TMI Note: In case of conflict between ICDS and other specific provisions of the Income-tax rules, 1962 governing taxation of income like rules 9A, 9B etc. of the Rules, which provisions shall prevail.

TMI Note: Does ICDS apply to computation of Minimum Alternate Tax (MAT) u/s 115JB of the Act or Alternate Minimum Tax (AMT) u/s 115JC of the Act.

TMI Note: Where a term has not been defined under ICDS, nor under the Act, but has different interpretations given to it by the courts in tax cases, and in ICAI Accounting Standards, which interpretation would prevail while interpreting ICDS.

TMI Note: Whether the provisions of ICDS apply to a non-resident who claims the benefit of a double taxation avoidance agreement (DTAA).

TMI Note: In case any of the ICDS provisions is contrary to a circular or press release issued by the CBDT, which would prevail over the other.

TMI Note: ICDS-I requires disclosure of significant accounting policies and other ICDS requires specific disclosures. Where is the taxpayer required to make such disclosures specified in ICDS.

Notification: Income Computation and Disclosure Standards (ICDS) - New ICDS to be effective from AY 2017-18

News: RBI Reference Rate for US $

Highlight: GST - Detention of goods under transport - discrepancy in documents - the statutory provisions provide a mechanism for adjudication following detention of goods including for the provisional release thereof pending adjudication - HC

Highlight: Reassessment - first few paragraphs of the assessment order dealt with objections and disposed of accordingly - Unfortunately, the manner in which the AO has decided the issue is wholly unsustainable in law - HC

Highlight: Business expenditure u/s 37 - liquidated damage - breach of contract terms - Expenditure was not incurred for any purpose which is an offence or which is prohibited by law - cannot be disallowed - HC

Highlight: Valuation - inclusion of reimbursement of expenses - managing participation of clients in certain mela, fairs, promotional activities etc. - They are liable to service tax on the gross amount received - They cannot restrict their tax liability to only agency commission

Highlight: TDS liability - ITAT confirmed the liability - We do not see how it is possible for us to uphold the order of the Tribunal and when it purports to decide two Appeals of the Revenue by single paragraph conclusion - HC

Highlight: Reopening of assessment - sufficiency of material available with the AO to form a belief that income chargeable to tax had escaped assessment - bogus purchases - seller refused to respond - notice would not be interfered with - HC

Highlight: Exemption u/s 11 - education activities - transport and hostel facilities surplus cannot be considered as business income of the assessee society

News: Draft Notification for insertion of new rule 39A in the Income-tax Rules, 1962 – comments and suggestions-reg.



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