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Article 73 of the Central Goods and Services Tax Act grants authority to authorized officers for the assessment of tax liability, interest, and penalties. Despite the initial three-year timeframe, subsequent amendments and notifications have prolonged deadlines, giving rise to discussions and legal controversies.  The inclusion of Section 168A in the 2020 amendment provides the government with the ability to extend limits in cases of force majeure. Nevertheless, challenges arise from the retrospective application and interpretations of the term "force majeure," contributing to complexities and disputes, as evidenced by recent legal cases. Research in Detail Section 73 of the Central Goods and Services Tax Act confers authority upon the designated officer to assess tax liability, interest, and penalties. Subsection (10) initially sets three years for issuing orders, yet this temporal limitation has been subject to amendments via GST notifications .  For instance,  the orig...

E Form MGT-7 and E Form MGT-7 A are essential filings necessary for all companies, regardless of size—be it a small company, other than a small company, or an OPC. These forms, namely MGT-7 and MGT-7 A, mandate companies to submit annual returns, shareholding specifics, and other relevant details. Compliance involves adhering to the rules and guidelines outlined by the MCA while furnishing these forms. Why do you opt for Gen CompLaw with XBRL Software for E-form MGT 7 Filing? The Gen Complaw with ROC Filing software stands as a leader in its field, proving highly efficient in facilitating the preparation of ROC e-forms, XBRL submissions, Resolutions, Minutes, Registers, and various MIS reports. Developed by SAG Infotech, this product ensures timely and error-free "XBRL" e-filings. Its effectiveness extends to aiding statutory compliances under the Companies Act, 2013, including the maintenance of fixed assets registers. With its ability to deliver faster responses in shorter...

The departmental audit involves reviewing departmental accounts to ensure correct tax payments, proper utilization of Input Tax Credit (ITC), avoiding excessive refund claims, etc. With the looming deadline for issuing show cause notices for the period of July 2017 to March 2018, the department has intensified its audit activities, aiming to finalize audits, raise audit points, and issue notices promptly. Hence, registered individuals must understand and adhere to effective practices to facilitate a smooth departmental audit. Though it might seem improbable, achieving a seamless departmental audit is plausible. Here are some recommended practices for handling departmental audits. Appropriate Provision Under the CGST Act Section 65 of the CGST Act furnishes that the commissioner or any officer authorized by him can perform an audit of any registered person. The audit can either be performed at the place of business of the registered person or the officer of the departmental officer. The...