Home Highlights August 2012 Year 2012 This

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1. Online submission of Tax Rate Wise Stock held on 31st day of March - Circular

2. Goods and services Tax - Rates of Tax for goods and Services - Schedule wise and item wise

3. 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

4. Form CSR-2 shall be filed separately on or before 31st March, 2024 (for the financial year 2022-2023) - Companies (Accounts) Second Amendment Rules, 2023 - Notification

5. The assessee paid all the interest during the year, which was not payable on 31st March, 2007 no disallowance u/s 40(a)(ia) - AT

6. Non-deduction of TDS - Section 40(a)(ia) is applicable only amount payable as on 31st March of year - AT

7. Gross NPAs of Public Sector Banks Stood at Rs.71,047 Crore as on 31st March,2011.

8. Penalty u/s 271(1)(c) - undervaluation of value of closing stock of diamond by applying average rates - the closing stock of this assessment year would become the...

9. Undervaluation of stock - it is a revenue neutral issue because whatever addition is being made in the closing stock, it will be opening stock in the next year. If the...

10. Undervaluation of closing stock - CENVAT benefit was not available to the assessee therefore enhancement in the value of closing stock on account of CENVAT was not warranted - AT