Hi sir/madam
How to differentiate between under reporting and misreporting of income?
My understanding on this as follow;
When recorded income is less than the actual income then it turns to be under reported income and later it will go for a test of misreporting u/s 270A(9)(a) to 270A(9)(f), if such under reported income satisfy any one of the limb under 27A(9) then it shall tuned to be under reporting of income due to misreporting of income and penalty shall be 200% of the tax liability.
If such under reported income does not satisfy 270A(9) than it will be under reporting of income by standalone accordingly penalty shall be 50% of the tax liability provided recorded income is less than actual income.

So finally we can say that ;
recorded income < actual income = URI and it will go for a test of misreporting u/s 270A(9), if non of the limb get attracted from 270A(9)(a) to 270A(9)(f) then it will be under reporting of income and penalty shall be 50% of tax payable.

Is this my view is correct? if not please correct me ASAP

Thank you in advance

ON 23.01.2020, GUJRAT HIGH COURT GIVEN DECISION REGARDING GST ON IMPORT OCEAN FREIGHT IN THE CASE OF –MOHIT MINERALS V/S UNION OF INDIA. ON 23.01.2020. HON. HIGH COURT DECLARED THAT NOTIFICATION NO.8/2017 INTEGRATED TAX ( RATE ) DT.28.06.17 & THE ENTRY NO.10 OF NOTIFICATION NO.10/2017 , INTEGRATED TAX ( RATE ) ARE BY ULTRA VIRES.

MR. NIRZAR DESAI THE LEARNED STANDING COUNSEL APPEARING FOR THE UNION OF INDIA ,MADE A REQUEST TO STAY THE OPERATION ,IMPLEMENTATION, & EXECUTION OF THE JUDGMENT.
HAVING TAKEN THE VIEW THAT THE IMPUGEND NOTIFICATION & THE ENTRY NO.10 THERE IN ARE ULTRA VIRES THE IGST ACT 2017. THE HON. GUJRAT HIGH COURT
DECLINE TO STAY THE OPERATION OF JUDGMENT,

HON.JUDGE- 1) J.R.PARDIWALA
2) A.G. RAO

DATE-: 23.01.2020

MY QUESTION IS RCM GST ON IMPORT OCEAN FREIGHT IS IS TO BE PAY OR NOT PAY

PLEASE GIVE EXACT ANSWER.


REGARDS

RAJKUMAR GUTTI

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