Saturday, March 31, 2018

Condonation of Delay Scheme, 2O18 extended by MCA till 30th April, 2018

 MCA has extended through General Circular No. 16 l2Ol7 dated 29/12/2017 the due date of the Condonation of Delay Scheme, 2018 upto 30th April, 2018.

Friday, March 30, 2018

DVAT - Filing of Objection and Appeal for Demands & Penalty

In case of a DVAT assessee who defaults in filing DVAT return or furnishes incorrect information in the DVAT return in the opinion of assessing officer, then commisioner may assess or reassess the tax due by the assessee after recording the reasons in writing for doing so for & levy interest and penalty there upon.

I. WHEN OBJECTION CAN BE FILED: Where the assessee disagrees with the Order of Assessing Officer which enhances the tax liability of the assessee then such assessee may file a Objection against such order with the appropriate VAT Authority*

Form For Filing An Objection: Objection to DVAT AO’s order shall be filed in Form 38.

The jurisdiction of authority with whom Objection is to be made shall be fixed by the commissioner on the basis of territorial or pecuniary i.e. monetary limits as may be deemed appropriate.

Reference to Form 38: While filling Form 38 first information that has to be filled by the assessee is the authority, to be determined as above with whom Objection is to be filed.

Three copies Form 38 along witn hard copies of documents as mentioned above shall also be submitted to DVAT authority after online filing of Form 38 with requisite annexures.

A copy of Form 38 along with required annexures shall be submitted to the AO against whose order objection is filed.

IC. TIME LIMITS FOR FILING OBJECTION UNDER DVAT: An objection can be filed within 2 months from the date on which notice of assessment is served on the assessee.  Where the assesse wants to file objection after thje expiry of stipulated period of 2 montsh from the date on which notice of assessment is served, then assessee has to file Form DVAT 39 indicating therein reasons for delay in making such objection.

ID. POWERS TO ADMIT ADDITIONAL EVIDENCE:  If fresh evidence is sought to produced before the commisioner which has no been produced before lower authorities then, a memorandum clearly stating reasons that why such evidence was not presented before VAT authority against whose order objection is being preferred.

IE. SIGNING OF FORM 38: Form 38 shall be signed by the assessee making such objection or his agent i.e. person duly authorised by him in this behalf (POA Holder) and shall be presented to the authority by the assessee himself or his authorised representative.

IF. ISSUE OF ACKNOWLEDGEMENT & ALLOTMENT OF DATE OF HEARING: Authority shall issue an acknowledgement of objection received to the person filing objection specifying the date of personal hearing.


The commissioner shall conduct the proceeding of the objection filed by examining:

III. Hearings for Objections Filed

a) Person making objection shall be given reasonable opportunity of being heard by the authority unless he expressly waives the personal hearing.

b) Objector shall not be allowed to argue on any ground which is not mentioned in the objection unless authority is satisfied that omission of such ground was not willful or unreasonable.


Decision of the Commisioner or VAT Authority deciding the objection shall be intimated in Form DVAT-40.


a. Within 3 months : Objection shall be decided by the commissioner within three months of submission of objection.

b. Extension by 2 more months : Commissioner shall continue consider the appeal for a further period of two months if the commissioner notifies the assessee in writing.


a. Notice to make decision If the commissioner does not pass an order within the time limits specified above then the assessee who filed the objection may serve a notice in writing on the commissioner requiring him to make a decision within 15 days of such notice.

In case of failure of commissioner to make a decision within 15 days of receipt of such notice then Objection filed shall be deemed to have been allowed by the commissioner.


1) Login as a dealer at DVAT site.

2) Click on Objection Tab and Then click on Form DVAT 38.

3) In Form DVAT 38 select the nature of objection. You may select either " Objection against assessment under DVAT" or "Objection against assessment under CST" or objection under the provisions of Sec74(2)" or " objection against penalty or cancellation of rejection (DVAT 11)"

4) Fill the relevant F.Y. for which objection is to be lodged. 

5) Afterwards order list will be shown from which order can be selected against which objection is to be filed.

6) A screen showing form DVAT 38 will appear & following information need to be filled therein:

7) After submission, an acknowledgement will be generated.  Acknowledgement will be required for future reference. Fees for submitting an objection is Rs. 100 .

8) Submit three Sets of Form DVAT38 along with documents attached to the VAT Dept. (i.e. the authority deciding the objection) & obtain acknowledgement of submission on fourth copy.

Contributed by -
Tanveer Alam
Articled Assistant and CA Finalist
Sandeep Ahuja & Co. (Batch of 2018)

Thursday, March 29, 2018

GST Checklist for Financial Year End

Here is a quick reference checklist of items that all Indian businesses with applicability of GST should consider before the close of the financial year on 31st March.

1. Reconcile all your ledgers on the GST Portal (such as cash, credit or liability) with your accounts.

Composition Levy
2. Decide on applicability of and whether to opt for or withdraw from the Composition Scheme.

Letter of Undertaking (LUT) for Export
3. If you have made exports (on which IGST has not been paid) without submitting the LUT with the Department, then do so before 31st March. Further, the application for LUT earlier submitted was for FY 17-18. A renewal for FY 2018-19 would also be required.

Reconcile all GSTR-3B
4. Reconcile all your GSTR-3B returns already filed. Prepare a consolidated sheet containing correct amount of Outward and Inward Supplies. Take correct output and input tax, in comparison to incorrect claims if made inadvertently earlier. Subsequently, take effect of this consolidated amount in the GSTR-3B return to be filed for March 18.

Reversal of Input Tax Credit (ITC)
5.1 Prepare your yearly chart of ITC and determine further reversal or reduction in reversal amount.

5.2 After issuance of tax invoice, if a receiver does not make the full payment within 180 days, then the credit taken on that invoice is to be reversed. Therefore, an aging analysis of creditors should be done. All old invoices  issued before 1st October, 2017, should be paid before 31st March 2018.

6. Check GSTR-2A for matching credit claimed by you in GSTR-3B and credit passed by your suppliers in their respective GSTR-1. In case of mismatch, take corrective actions in the form of either reversal of credit, if not available, or ensure supplier corrects the mistake in their respective GSTR-1 of next month in Table called Amended Invoices.

7. Filing TRAN-2 so as to claim deemed credit u/s 140(3) proviso, w.r.t. traders only - 60/40 Credit, which is required to be passed to consumers in the form of reduced prices.

Surrender of GSTIN
8. If you have obtained fresh GST registration or migrated from previous regime, then you may surrender the same (in case the portal permits). 

New Series for Tax Invoice
9. If anyone wants to change the series for billing in the new year, then one may do so from 1st April. New numbering should be started from 1st April.

Monthly/ Quarterly Returns
10. Taxpayers should check the turnover for the year 2017-18. If the aggregate turnover is above Rs. 1.5 Crore then the taxpayers have to file monthly return. If the aggregate turnover is below Rs. 1.5 Crore then the taxpayers have an option to file the quarterly GST returns.

11. Input service distributor has to file GST return in Form GSTR-6. So 31st March is the due date to file GSTR-6 from July 2017 to February 2018.

Depreciation on Capital Assets
12. At the time of calculating depreciation on the capital goods (other than building), if ITC has been claimed, then the ITC claimed needs to be ignored at the time of calculating depreciation.

Sarthak Ahuja
Sandeep Ahuja & Co.
+91-9953926562 |

Wednesday, March 7, 2018

Intimation u/s 143(1)(a)(vi) & Response for Discrepancy

Sub: Processing of Income Tax Return under section 143(1) of Income Tax Act 1961 which were filed in forms ITR 1to 6 and Applicability of section 143(1)(a)(vi)

Finance Act 2016 has introduced clause (vi) to section 143(1)(a) w.e.f. 01.04.2017 which prescribes that while processing the Income Tax Return , Total Income and Loss shall be computed after addition of income appearing in Form 26AS or Form16 or Form16A not included in computation of total Income in ITR.

Intimations proposing adjustment in identified return under section 143(1)(a)(vi) of the Act would be shortly issued by the CPC ITR , Bangalore for AY 17-18

E-Mail/SMS    Communication of Variation/Reasons for Proposed Adjustment  

(a) Since section 143(1)(a)(vi) is being applied for first time, so before   issuing an intimation for proposed adjustment, taxpayer will be informed about potential reasons for making addition  in his/her total income under this clause by way of email or SMS communication.

(b) The Taxpayer receiving such communication has to submit his response to the variation within 1 month electronically.

Procedure for response to intimation u/s 143(1)(a)(vi) electronically

1)      For furnishing the response electronically, taxpayer is required to login in his account in the e-filing site and choose the option (View-Returns/Forms) .

2)      In a case where communication/intimation has been issued to the taxpayer u/s 143(1)(a)(vi) of the Act, the status will be displayed in the dashboard as 'Response to communication/ intimation  u/s 143(1)(a)(vi) is pending'.

3)      The taxpayer can click on the same &  submit his response. See the diagram below :
ght:normal'>(b) The Taxpayer receiving such communication has to submit his response to the variation within 1 month electronically.

Note: File reconciliation statement  In the format provided by CPC -ITR on e-filing site.

Compiled by
Megha Bansal
CA Finalist
Sandeep Ahuja & Co.