๐— ๐˜‚๐—บ๐—ฏ๐—ฎ๐—ถ ๐—œ๐—ง๐—”๐—ง: ๐—ฆ๐—พ๐˜‚๐—ฎ๐—ฟ๐—ถ๐—ป๐—ด ๐—ผ๐—ณ๐—ณ ๐—น๐—ผ๐—ฎ๐—ป ๐˜๐—ฟ๐—ฎ๐—ป๐˜€๐—ฎ๐—ฐ๐˜๐—ถ๐—ผ๐—ป ๐—ฑ๐—ผ๐—ฒ๐˜€ ๐—ป๐—ผ๐˜ ๐—ถ๐—ป๐˜ƒ๐—ถ๐˜๐—ฒ ๐—ฝ๐—ฒ๐—ป๐—ฎ๐—น๐˜๐˜† ๐˜‚๐—ป๐—ฑ๐—ฒ๐—ฟ ๐—ฆ.๐Ÿฎ๐Ÿณ๐Ÿญ๐—— / ๐Ÿฎ๐Ÿณ๐Ÿญ๐—˜

S.269SS and S.269T mandate that transactions in the nature of acceptance/repayment of loan/ deposit etc should be done through account payee cheque or account payee bank draft or use of electronic clearing system through a bank account. Non-adherence of provisions of S.269SS or S.269T invites penalty u/s 271D & E, respectively. However, S.273B provides a safe harbor if such default is because of a reasonable cause.

In its recent judgment Mumbai ITAT has observed, ๐˜„๐—ต๐—ฒ๐—ฟ๐—ฒ๐—ถ๐—ป ๐—น๐—ผ๐—ฎ๐—ป ๐˜๐—ฟ๐—ฎ๐—ป๐˜€๐—ฎ๐—ฐ๐˜๐—ถ๐—ผ๐—ป๐˜€ ๐—ฎ๐—ฟ๐—ฒ ๐˜€๐—พ๐˜‚๐—ฎ๐—ฟ๐—ฒ๐—ฑ ๐—ผ๐—ณ๐—ณ ๐—ฏ๐˜† ๐—ท๐—ผ๐˜‚๐—ฟ๐—ป๐—ฎ๐—น ๐—ฒ๐—ป๐˜๐—ฟ๐—ถ๐—ฒ๐˜€ ๐—ถ๐—ป ๐—ฎ ๐—ฏ๐—ฎ๐—ฐ๐—ธ๐—ฑ๐—ฟ๐—ผ๐—ฝ ๐—ผ๐—ณ ๐—ด๐—ฒ๐—ป๐˜‚๐—ถ๐—ป๐—ฒ ๐—ฏ๐˜‚๐˜€๐—ถ๐—ป๐—ฒ๐˜€๐˜€ ๐˜๐—ฟ๐—ฎ๐—ป๐˜€๐—ฎ๐—ฐ๐˜๐—ถ๐—ผ๐—ป๐˜€, ๐—ถ๐˜ ๐˜„๐—ผ๐˜‚๐—น๐—ฑ ๐—ฏ๐—ฒ ๐˜€๐—ฎ๐—ณ๐—ฒ ๐˜๐—ผ ๐—ฐ๐—ผ๐—ป๐—ฐ๐—น๐˜‚๐—ฑ๐—ฒ ๐˜๐—ต๐—ฎ๐˜ ๐˜๐—ต๐—ฒ๐˜€๐—ฒ ๐—ฒ๐—ป๐˜๐—ฟ๐—ถ๐—ฒ๐˜€ ๐˜„๐—ฒ๐—ฟ๐—ฒ ๐—ฝ๐—ฎ๐˜€๐˜€๐—ฒ๐—ฑ ๐—ผ๐˜‚๐˜ ๐—ผ๐—ณ ๐—ฏ๐˜‚๐˜€๐—ถ๐—ป๐—ฒ๐˜€๐˜€ ๐—ฐ๐—ผ๐—ป๐˜€๐˜๐—ฟ๐—ฎ๐—ถ๐—ป๐˜๐˜€, ๐—ฒ๐˜…๐—ถ๐—ด๐—ฒ๐—ป๐—ฐ๐—ถ๐—ฒ๐˜€ ๐—ฎ๐—ป๐—ฑ ๐—ฎ๐—ฑ๐—บ๐—ถ๐—ป๐—ถ๐˜€๐˜๐—ฟ๐—ฎ๐˜๐—ถ๐˜ƒ๐—ฒ ๐—ฐ๐—ผ๐—ป๐˜ƒ๐—ฒ๐—ป๐—ถ๐—ฒ๐—ป๐—ฐ๐—ฒ. Such business constraints, exigencies, and administrative convenience ๐˜„๐—ผ๐˜‚๐—น๐—ฑ ๐—ฐ๐—ผ๐—ป๐˜€๐˜๐—ถ๐˜๐˜‚๐˜๐—ฒ ๐—ฟ๐—ฒ๐—ฎ๐˜€๐—ผ๐—ป๐—ฎ๐—ฏ๐—น๐—ฒ ๐—ฐ๐—ฎ๐˜‚๐˜€๐—ฒ ๐˜„๐—ถ๐˜๐—ต๐—ถ๐—ป ๐˜๐—ต๐—ฒ ๐—บ๐—ฒ๐—ฎ๐—ป๐—ถ๐—ป๐—ด ๐—ผ๐—ณ ๐—ฆ.๐Ÿฎ๐Ÿณ๐Ÿฏ๐—• ๐—ผ๐—ณ ๐˜๐—ต๐—ฒ ๐—”๐—ฐ๐˜ ๐—ฎ๐—ป๐—ฑ ๐—ฝ๐—ฒ๐—ป๐—ฎ๐—น๐˜๐˜† ๐˜„๐—ผ๐˜‚๐—น๐—ฑ ๐—ป๐—ผ๐˜ ๐—ฏ๐—ฒ ๐—ฎ๐—ฝ๐—ฝ๐—น๐—ถ๐—ฐ๐—ฎ๐—ฏ๐—น๐—ฒ ๐—ถ๐—ป ๐˜€๐—พ๐˜‚๐—ฎ๐—ฟ๐—ถ๐—ป๐—ด ๐—ผ๐—ณ ๐˜๐—ฟ๐—ฎ๐—ป๐˜€๐—ฎ๐—ฐ๐˜๐—ถ๐—ผ๐—ป๐˜€.

[ ๐— /๐˜€. ๐— ๐—ฎ๐—ฐ๐—ฟ๐—ผ๐˜๐—ฒ๐—ฐ๐—ต ๐——๐—ฒ๐˜ƒ๐—ฒ๐—น๐—ผ๐—ฝ๐—ฒ๐—ฟ๐˜€ ๐—Ÿ๐˜๐—ฑ., ๐—œ๐—ง๐—” ๐—ก๐—ผ.๐Ÿฏ๐Ÿฌ๐Ÿฐ๐Ÿต & ๐Ÿฐ๐Ÿฌ๐Ÿฑ๐Ÿฐ /๐— ๐˜‚๐—บ/๐Ÿฎ๐Ÿฌ๐Ÿญ๐Ÿต]

Indian Stock Market Performance in 2021 โ€“ Investment Planning, Retirement Planning, Estate Planning & Tax Planning

Investment Planning, Retirement Planning, Estate Planning & Tax Planning โ€“ Indian Stock Market Performance in 2021 โ€“ Throwback

Contact us for Investment Planning, Retirement Planning, Estate Planning & Tax Planning. We have designed a 22 steps model to suggest to you the best possible funds to invest. Also, we review your funds periodically to determine if any alteration is required. Contact Us.

  • โฆ Performance of Indices in 2020.
  • โฆ Top Stocks in Nifty 50 โ€“ Top Gainers & Losers in 2020.
  • โฆ Top Gainer and Loser in Nifty Mid Cap and Small Cap.

Only ITC Reflecting in GSTR-2B (GST Returns) can be claimed from 01-01-2022.

First: โ€“ Section 16(2)(aa) notified from 1 Jan 2022

(aa) the details of the invoice or debit note referred to in clause (a) have been furnished by the supplier in the statement of outward supplies and such details have been communicated to the recipient of such invoice or debit note in the manner specified under section 37.

It means from 1 Jan 2022 Input available only as when as come in GSTR-2B

Effects of New Sub-clause 16(2)(aa)
โ€ข ITC cannot be availed beyond GSTR-2B.
โ€ข No concept of Provisional Credit.
โ€ข If GSTR-1 is filled by the supplier beyond the cutoff date, then ITC will not be available in the same month.

In simple language, we can claim only that amount of ITC in GST Returns, which is reflected in GSTR-2B.

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