Key decisions at the 32nd GST Council Meet

Penalty for Concealment or inaccurate furnishing of return replaced by misreporting or under reporting of income

No Penalty is imposable if addition is on account of disallowance of section 40A(2)(b).

Applicability of TDS U/s 195 on Payment of commission to non-resident who have No operations in India

Information to Taxpayers on new releases on GST Portal, as on 09/01/2019

Validity of assessment u/s 153A without notice under section 143(2)

Error due to wrong advice on the part of counsel can grant immunity from penal provision

Unlike section 271(1)(c), Immunity from new penalty u/s 270A is subject to riders

If Assessee cannot establish that projections are reliable estimate achievable with reasonable certainty then the DCF method is not workable: Bangalore ITAT

Links of all GST notification (with subject therein) issued on 31-12-2018 by CBIC

GSTC’s 32nd Meeting started under Chairmanship of the Hon’ble Finance Minister Shri Arun Jaitley ! Key decisions expected !!

Assessee seeking immunity u/s 270AA shall not preclude from contesting the same issue in earlier assessment year

ITAT remands convertible preference shares valuation for taxation u/s. 56(2)(viib) by determining ‘true’ nature of shares

Vat audit date extended up to 28th feb (Maharashtra)

“Short overview on Removal of Difficulty Orders” from Order No. 2/2018 to Order No. 4/2018 & analysis of few recent GST notifications 67/2018 to 79/2018

GST- CONCEPT AND STATUS: Publication by CBIC

Method of valuation of stock consistently followed by assessee and accepted by AO in preceding years, cannot be changed by AO without any substantial reason: ITAT

FAQ ON Form No. E704