Dewan P N Chopra & Co.

CBIC issues clarification vide Press release dated 23rd April 2018 on issues regarding “Bill to Ship To” transactions for E-way bill. It clarified that one e-way bill is required to be generated either by supplier or person who ordered the goods as per the prescribed procedure. For More Info, Visit at: http://dpncindia.com/blog/only-one-e-way-bill-in-bill-to-ship-to-supplies-clarifies-finance-ministry/

Facility to apply for Advance Ruling has been enabled on GST Portal. This form will enable an applicant to make an application, for obtaining advance ruling on the GST Portal and make required payment of fees. For More Info, Visit at: http://dpncindia.com/blog/new-features-added-on-gst-portal/

Apart from drop in housing sales, the article briefly mentions the impact of RERA on Real Estate sector. Top five salient features of RERA are provided below for readers’ reference. For More Info, Visit at: http://dpncindia.com/blog/housing-sales-down-40-per-cent-in-2017-from-201314-levels/

In the 26th meeting held on March 10, 2018, the GST Council has recommended the introduction of e-way bill for inter-State movement of goods across the country from 01st April 2018. For intra-State movement of goods, e-way bill system will be introduced w.e.f. a date to be announced in a phased manner but not later than 01st June, 2018.

The GST council in its 26th meeting chaired by Mr. Arun Jaitley on March 10, 2018 deliberated upon following issues:- The current system of filing of GSTR-3B and GSTR-1 has been extended till June 2018. The simplification of the return filing process is under consideration.

In the case of M/s INTERCONTINENTAL CONSULTANTS AND TECHNOCRATS PVT. LTD.SC rules on applicability of service tax on reimbursable expenditure incurred by service provider, in terms of Section 67 of Finance Act r/w Rule 5 of Service Tax (Determination of Value) Rules 2006. For More Info, Visit at: http://dpncindia.com/blog/sc-no-service-tax-on-reimbursable-expenditure-prior-to-may-2015-rule-5-beyond-statute/

Fill either CGST or SGST/UGST amount, other tax will get auto filled. You can now save the Form on confirming details filled in the Table. You can fill balance details later. Preview Form or download it for cross verifying saved details in any table(s) anytime. For More Info, Visit at: http://dpncindia.com/blog/filing-gstr-3b-is-now-made-more-user-friendly/

In a ruling in favor of the construction industry, a two-judge bench of the Supreme Court, held that service tax cannot be levied on the value of goods/material supplied free of cost by a service recipient during construction. For More Info, Visit at: http://dpncindia.com/blog/no-service-tax-on-foc-material-supplied-by-service-recipient-for-construction-rules-supreme-court/

Post Budget Interactive Session on Implications of Union Budget 2018, on Tuesday, 6th Feb.2018, at Jacaranda, Indian Habitat Centre, Lodhi Road, New Delhi. For more info, visit us at - https://www.facebook.com/events/1887733894570814/

The 25th GST Council Meeting was held at New Delhi on the 18th of January 2018. In addition to relaxation of GST rules and regulations, GST rates have also be reduced for various goods and services.

Prerequisite for generating an e-way bill: a) Registration on the EWB portal. b) The Invoice/ Bill/ Challan related to the consignment of goods must be in hand. c) If transport is by road – Transporter ID or the Vehicle number. d) If transport is by rail, air, or ship – Transporter ID, Transport document number, and date on the document. Step 1: Login to e-way bill system. Enter the Username, password and Captcha code, Click on ‘Login’. Read more at - http://dpncindia.com/blog/steps-to-generate-e-way-bill-on-e-way-bill-portal/

This appeal is preferred by the assessee against the order of AO passed consequent to the direction of the DRP, inter alia, on following grounds :The order of the Deputy Commissioner of lncome Tax js against law and facts and circumstances of the case. Read more at - http://dpncindia.com/blog/itat-relief-on-domestic-transfer-pricing/

CBDT lays down process & scenario(s) for seeking response of taxpayers to proposed adjustments u/s 143(1)(a)(vi) for addition of income appearing in Form 26AS or Form 16 or 16A which is not included in computing income in ITR. Read more at - http://dpncindia.com/blog/cbdt-lays-down-process-for-intimating-taxpayers-seeking-response-on-proposed-adjustments-us-1431avi/

Every day we come across various news articles with plethora of cases describing the mark up and mark down of business valuations. But what is valuation and why do we need it? To know more, visit us at - http://dpncindia.com/blog/fable-of-valuation/

Dewan P.N. Chopra & Co. - A leading tax advisory & tax consulting firm in Delhi NCR. We offer services for international & domestic tax, goods and service tax and income tax consultants in Delhi, India. Also, a renowned Chartered Accountant firm in India.

Prequisite: TRAN-2 can be filed only if TRAN-1 and GSTR-3B of the relevant tax period is filed. Step- 1 Navigate to the TRAN-2 page of the desired tax period after logging in, Select < Financial Year> and < Month> Step- 2 Table-4 of TRAN-2 would be enabled if records were declared in Table-7(a) (7B) of TRAN-1 and Table-5 would be enabled if records were declared in Table-7(d) of TRAN-1.

Selling a business is not just a usual transaction, it requires a very formal and concrete approach when it comes to selecting the most qualified buyer for the business. After all, the business is an outcome of years of collective efforts and endless hard work.

Taxpayers opting for quarterly filing of return will have to select the last month of the quarter from the drop down menu. However, for the month of July 2017, GSTR-1 has to be filed separately by all taxpayers, as option to file quarterly returns is applicable for returns from August 2017 onwards.

Dewan P. N. Chopra & Co., Chartered Accountants takes its genesis from the firm Dewan P N Chopra, Advocate, Supreme Court of India, that was constituted over seven decades ago. The firm was headed the late Dewan P N Chopra, who was one of the leading Tax Consultants of India. Know more at - https://www.slideshare.net/dpncindia/dewan-p-n-chopra-co-chartered-accountant-firm-in-india/dpncindia/dewan-p-n-chopra-co-chartered-accountant-firm-in-india

As complexity of valuation models increase, it becomes difficult to understand not only by the user, but many times by its creator too. The aim of this article is to provide a five point approach that will help new entrants of business valuation shift the burden of organizing from their brains to the excel sheet.

Government issues clarification on delay in grant of refunds pertaining to IGST paid on exported goods and similarly ITC on exports. According to Govt., errors by exporters while filing their returns such as incorrect shipping bill number in GSTR-1, mismatch of invoice number and IGST amount paid, and wrong bank account are the main reasons for delay in grant of refunds, or rejection thereof. Know more at - http://dpncindia.com/blog/government-ask-exporters-to-file-table-6a-of-gstr-1-correctly-for-quick-refunds/

It’s always better to get all your tax or finance related issues sorted under a single roof. Dewan P.N. Chopra & Co. comprises of a team of experts having varied experience in the industry. Know more about them at: http://dpncindia.com/post-budget-interactive-session-implications-of-union-budget-2016/tax-law-firms-in-delhi

If inadvertently, GST has been paid under the wrong head like IGST instead of CGST / SGST, the remedy available to the assessee is to seek refund of the amount wrongly paid. Recently, a functionality has been provided to the taxpayers on GST Portal to claim Refund of Excess amount in their Electronic Cash ledger.

In an immediate follow up action of last week’s Cabinet approval for creation of the posts of Chairman and Technical Members of the National Anti-profiteering Authority under GST, the Government today issued orders appointing senior IAS officer Shri B.N. Sharma, as the first Chairman of this apex Authority in the rank of Secretary to Government of India.

Finance Act, 2016 had amended Section 92D of the Income-tax Act, 1961 (‘the Act’) and introduced Section 286 to provide certain requirements regarding keeping, maintaining and furnishing information & documents in relation to International groups and its constituent entities. Such information reporting is termed as “Master File” and ‘Country-by-Country report (CbCR)”