Articles by Hemant Kumar Gupta

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MSME Classifications and Registration Requirements w.e.f. 01.07.2020

Posted by Hemant Kumar Gupta 09 January 2021 3013 Views

Ministry of Micro, Small and Medium Enterprises have come out with notification no. [F. No. 21(5)/2019-P&G/Policy (Pt-IV)] dated 26th June 2020, wherein new criteria of classification of enterprises and new registration procedures under MSMED Act,2006

Section 271AAD: Fair Interpretation and applicability

Posted by Hemant Kumar Gupta 26 April 2020 2370 Views

Section 271AAD is for a penalty on false entry, etc. in books of account.Under the Head "H. PREVENTING TAX ABUSE", explanation and need for insertion of Section 271AAD have been given.

Compliance related Relaxations under GST lockdown

Posted by Hemant Kumar Gupta 19 April 2020 4945 Views

Various GST relaxations have been given to the taxpayers amidst the outbreak. GST relaxations have been given in the form of extension of due dates and reduction in interest rates.

E-way Bill rules: Vehicle detention and confiscation procedures

Posted by Hemant Kumar Gupta 13 April 2020 3428 Views

Vehicle without e-way bills can be confiscated. Section 68 of the CGST Act, 2017 read with Section 129 of CGST Act, 2017 read with Rule 138B of CGST Rules, 2017 gives the right to the respective officer to intercept the vehicle and check the documents relating to goods being carried in the vehicle.