Voice of CA

26.05.2021 - Voice of CA presents Useful Updates

Wednesday, May 26, 2021

I. Today's Headlines:

i) Taxpayer entitled to relief on time limits which is more beneficial; CBDT clarifies following SC’s order

ii) CBDT notifies procedure for withdrawing pending application before SetCom

iii) CBDT notifies rule for computation of FMV of Capital Assets for section 50B

iv) CBIC issued guidelines for GST officers regarding cancellation of registration

v) DGFT prescribes procedure for online transfer and paperless issuance of DFIA scrips

II. Useful Aticle:

[Contribution by : CA. Manoj Kumar Anand Ji]

i) Pre-Packaged Insolvency Resolution Process under IBC 2016:- A unique mechanism for MSMEs

(Please click for detail)

III. Useful Updates on GST:

[Contribution by : CA. Bimal Jain Ji]

i) Methodology adopted under best judgment assessment order without following any principle is arbitrary

ii) Exemption cannot be denied merely on account of delay in furnishing Audit Report

iii) IGST on import of oxygen concentrators as gift for personal use is unconstitutional0

IV. Useful Updates on GST:

[Contribution by : CA. Rajat Mohan Ji]

Synopsis of all changes in GST is given below for your quick reference:

i) GST litigation support communique Series (Part-VI)

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Thanks & Regards

CA. Sanjay Kumar Agarwal
Founder - Voice of CA
M. No. 91 98110 80342
Former Central Council Member
(2009 - 2018)

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