Steps to generate E- Way Bill on E- Way Bill Portal

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. Continue reading

Posted in GST |

ITAT Relief on Domestic Transfer Pricing

Bangalore ITAT in Texport Overseas P. Ltd. v. DCIT[1] has held that the amendment with respect to restriction in scope of Domestic Transfer Pricing (TP) by Finance Act, 2017 is deemed to be omitted from its inception.

Continue reading

Posted in Transfer pricing |

CBDT Lays down process for intimating taxpayers & seeking response on proposed adjustments us 143(1)(a)(vi)

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. Continue reading

Posted in Direct Tax |

Fable Of Valuation

“Price is what we pay, value is what we get” – Warren Buffet

“Flipkart valuation slashed to $5.37 Bn by investor Fidelity” – Economic Times

“Reliance Industries Ltd. (RIL) became the most-valued Indian company to trade at a market value of INR 4.57 trillion” – Live Mint

“Everstone backed S Chand seeks $360 mn valuation” – VCCircle Continue reading

Posted in Regulatory |

Step by Step Guide for Filing GST TRAN-2 Form Online

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> Continue reading

Posted in GST |