Detention , seizure and release of goods and conveyances in transit
confiscation of goods and conveyances
prosecution
cognizance of offences
compounding of offences
OBJECTIVE
Import of all kinds of goods and the export of goods on certain situations attracts customs duty. The Customs Act,1962 contains provisions which govern the levy of customs duty. In this webinar, we shall deal with provisions relating to prosecutions and penalties levied on the person for any offences.
This document outlines various offenses and penalties related to tax prosecution in Pakistan. It discusses offenses such as failure to comply with statutory obligations, making false statements, concealing income, failing to maintain proper records, unauthorized use of tax IDs, obstructing tax authorities, and more. Penalties for individuals and companies committing such offenses include fines, imprisonment, or both. It also covers rules for prosecuting offenses, including provisions for special tax judges to conduct trials and hear appeals.
1) The document outlines penalties for various offenses under tax law, including failure to file returns or pay taxes on time, obstructing tax authorities, and concealing income or deductions.
2) Penalties range from 0.1% of taxes due per day of late filing to 100% of taxes involved, depending on the offense.
3) An opportunity to be heard must be provided before any penalty is imposed. Penalties may be reduced if the underlying tax amount is reduced on appeal. Exemptions from penalties can also be granted under certain conditions.
1. The document discusses offences and penalties under the GST Act. It outlines 21 specific offences in section 122 related to non-compliance issues like incorrect invoicing, failure to pay taxes, availing improper input tax credits, and obstructing tax officers.
2. Penalties for offences range from fines to imprisonment, with penalties increasing based on the seriousness and tax amount involved in the offence. Some minor offences involving small tax amounts may be waived without penalty.
3. Case law examples are provided where penalties were not imposed due to lack of fraudulent intent, bona fide disputes, and voluntary disclosures by taxpayers. The penalties are meant to be proportionate to the offence and imposed through
This document outlines various offences and penalties under the Malaysian Income Tax Act 1967. It describes offenses such as failure to file a tax return, making an incorrect return, willfully evading tax, obstructing tax officers, and failing to comply with record keeping requirements. The penalties for convictions range from fines between RM200 to RM20,000 depending on the offense, and can also include imprisonment terms and payment of unpaid taxes. The Director General is authorized to compound offenses by accepting a monetary payment in lieu of criminal prosecution.
Adjudication and Appeals provisions under GST. Includes provisions as per Chapter XVIII of CGST Act, 2017 together with Chapter XIII of CGST Rules, 2017.
OBJECTIVE
Import of all kinds of goods and the export of goods on certain situations attracts customs duty. The Customs Act,1962 contains provisions which govern the levy of customs duty. In this webinar, we shall deal with provisions relating to prosecutions and penalties levied on the person for any offences.
This document outlines various offenses and penalties related to tax prosecution in Pakistan. It discusses offenses such as failure to comply with statutory obligations, making false statements, concealing income, failing to maintain proper records, unauthorized use of tax IDs, obstructing tax authorities, and more. Penalties for individuals and companies committing such offenses include fines, imprisonment, or both. It also covers rules for prosecuting offenses, including provisions for special tax judges to conduct trials and hear appeals.
1) The document outlines penalties for various offenses under tax law, including failure to file returns or pay taxes on time, obstructing tax authorities, and concealing income or deductions.
2) Penalties range from 0.1% of taxes due per day of late filing to 100% of taxes involved, depending on the offense.
3) An opportunity to be heard must be provided before any penalty is imposed. Penalties may be reduced if the underlying tax amount is reduced on appeal. Exemptions from penalties can also be granted under certain conditions.
1. The document discusses offences and penalties under the GST Act. It outlines 21 specific offences in section 122 related to non-compliance issues like incorrect invoicing, failure to pay taxes, availing improper input tax credits, and obstructing tax officers.
2. Penalties for offences range from fines to imprisonment, with penalties increasing based on the seriousness and tax amount involved in the offence. Some minor offences involving small tax amounts may be waived without penalty.
3. Case law examples are provided where penalties were not imposed due to lack of fraudulent intent, bona fide disputes, and voluntary disclosures by taxpayers. The penalties are meant to be proportionate to the offence and imposed through
This document outlines various offences and penalties under the Malaysian Income Tax Act 1967. It describes offenses such as failure to file a tax return, making an incorrect return, willfully evading tax, obstructing tax officers, and failing to comply with record keeping requirements. The penalties for convictions range from fines between RM200 to RM20,000 depending on the offense, and can also include imprisonment terms and payment of unpaid taxes. The Director General is authorized to compound offenses by accepting a monetary payment in lieu of criminal prosecution.
Adjudication and Appeals provisions under GST. Includes provisions as per Chapter XVIII of CGST Act, 2017 together with Chapter XIII of CGST Rules, 2017.
Objectives & Agenda :
To know when an appeal can be made before a Commissioner, High Court and Supreme Court. To gain knowledge regarding the pre-requisites for filing an appeal. To understand the provisions relating to the fines, penalties and the time limit in an appeal. To gain insight regarding the procedure followed during an appeal.
The document discusses advance rulings under the CGST Act of 2017 in India. It defines advance rulings as decisions provided by the Authority or Appellate Authority on certain tax-related questions. It outlines the matters that can be ruled on, the authorities responsible for rulings, procedures for obtaining rulings, appeals processes, and powers of the authorities. The overall aim of the advance ruling system is to provide taxpayers certainty on their tax obligations and avoid unnecessary litigation.
The document discusses the appeal structure in taxation in India. It outlines the various levels of appeal - from the Commissioner of Income Tax (Appeals), to the Income Tax Appellate Tribunal, High Court, and Supreme Court. It provides details on eligibility to file appeals, prescribed time limits, and filing fees at each level. The powers provided to income tax authorities to conduct proceedings are also summarized.
The document outlines the income tax appeal process in Pakistan. It discusses the various levels of appeal, including appealing an order to the commissioner, appellate tribunal, high court, and in some cases supreme court. Key details provided include the types of appealable orders, required documents, application fees, deadlines, and potential outcomes of appeals at each level of review. The overall purpose is to explain the legal process for taxpayers or the tax department to dispute orders and seek revisions from higher authorities.
Objectives & Agenda :
This webinar shall throw some with regards to the revision and rectification of orders passed by the income tax authorities. It shall look upon the orders which cannot be revised. This webinar shall also explain the procedure involved in the revision of an order.
Find out the detailed explanation of the provisions related to Offences and Penalties under the dual GST Law for the efficient tax administration from the presentation. Give it a read and we would love to know your feedback!
Income tax appeals and Revision by abhishek muraliAbhishek Murali
Art of Preparation and Presentation of Income Tax Appeals by CA Abhishek Murali, Direct Tax Committee Chairman of Southern India of the ICAI. Presented with Hon'ble Pr.CCIT of Tamil Nadu and Puducherry, Mr.Sushil Khumar, IRS.
Comprehensive preparation and process of Appeals
The document discusses two topics: 1) The classes of income-tax authorities in India according to the Income Tax Act 116, which include the Central Board of Direct Taxes, Directors-General of Income-tax, Commissioners of Income-tax, and various other officer titles. 2) The powers granted to these authorities, such as discovery and inspection, enforcing attendance and examining witnesses, compelling production of documents, collecting certain information, and issuing commissions and summons. These powers allow authorities to function like a civil court for tax-related cases and issues.
Advance rulings presentation to the Lao PDR Customs Department and Private se...Maria Sosa
The document provides information about advance rulings issued by customs headquarters prior to importation or exportation. Advance rulings are binding decisions that facilitate trade by increasing transparency and predictability. They have proven effective in expediting customs clearance processes and reducing costs for many countries around the world. The document outlines the customs department's plans to implement an advance rulings system, including guidelines on validity, binding nature, application process, decision timeline, and reconsideration/appeals procedures.
The document outlines the rules and procedures for employee discipline and efficiency for the Sarhad Tourism Corporation Limited. It discusses the following key points in 3 sentences:
The document defines misconduct, penalties, and the inquiry procedure for employees accused of misconduct or inefficiency. It states that minor penalties include censure or recovery of financial losses, while major penalties are reduction in role, compulsory retirement, removal from service, or dismissal. The inquiry procedure involves placing the accused employee on leave or suspension during an inquiry conducted by an inquiry officer or committee. The authority can then impose penalties based on the inquiry findings.
This document summarizes the tax appeals process in Pakistan. It discusses appeals that can be made to the Commissioner (Appeals) within 30 days against assessment or penalty orders. It also discusses appeals that can be made to the Appellate Tribunal within 60 days against orders of the Commissioner (Appeals). The document outlines the requirements, procedures, and potential outcomes for appeals to the Commissioner (Appeals) and Appellate Tribunal. It provides information on application fees, decisions timelines, and rights to further appeal certain legal questions to the High Court.
This presentation shall provide practical insights of The Maharashtra Regulation of Marriage Bureaus and Registration of Marriages Act, 1998 and shall help those who are getting married and would like register the marriage and avail marriage registration certificate.
The document summarizes the foreigner admission policy of DIMAS, the Department of Alien Integration, Policy and Admission in Aruba. It outlines exemptions from permit requirements, terms of residence, and a maximum 3-year rotation system for temporary residence permits with employment authorization. It also discusses general permit conditions such as guarantee deposits, awaiting application decisions abroad, and document requirements.
The document discusses the various income tax authorities in India according to the Income Tax Act. It outlines the central authorities like the Central Board of Direct Taxes (CBDT) which is responsible for tax policy and administration. Below the CBDT are various officers like Directors General, Commissioners, Deputy/Assistant Commissioners, and Income Tax Officers who have powers to assess taxes, conduct searches and seizures, and investigate tax evasion. Their roles, appointment processes, and jurisdictions are explained. Key powers of authorities like the CBDT, Commissioners and Income Tax Officers are also summarized.
Income tax authorities under Income tax act 1961Chirantan Tiwari
The document summarizes the key income tax authorities in India and their roles and responsibilities.
The main authorities are:
1) The Central Board of Direct Taxes (CBDT) which is responsible for policy and administration of direct taxes.
2) Income tax officers, tax recovery officers, and inspectors who handle assessments, collections, and enforcement.
3) The CBDT, directors general, commissioners, and joint commissioners can appoint other tax authorities and delegate powers.
4) The jurisdiction and powers of tax authorities are determined by the CBDT through orders and directions.
The Telegraph Act of 1885 established the legal framework for telegraph services in India. It granted the central government exclusive authority to establish, maintain, and operate telegraphs. It defined key terms like "telegraph" and established rules regarding the placement of telegraph lines. It also outlined offenses related to unauthorized access and interference with telegraphs, making such acts punishable by fines or imprisonment. The act aimed to facilitate reliable telegraph services while protecting telecommunications infrastructure and enforcing government control over this critical communications technology.
Objectives & Agenda :
Chapter XXII of the Income-tax Act, 1961 discusses various Offences under the Income-tax Act and the applicable Prosecutions for such offences. These provisions act as a tool for enabling the Income-tax Officers to effectively enforce Income-tax laws, to deter tax avoidance and evasion and to punish wilful defaulters.
Sections Covered: 275A - 280D
The document discusses the various income tax authorities in India, their roles and powers. It describes the Central Board of Direct Taxes as the apex body, and lists the various authorities below it like Directors General of Income Tax, Commissioners of Income Tax, and Income Tax Officers. It provides details on the appointment, jurisdiction and powers of these different authorities.
This document summarizes sections 263 and 264 of the Income Tax Act which deal with revision of orders by the Commissioner. Section 263 allows revision of orders prejudicial to revenue within 2 years, while section 264 allows revision in favor of the assessee within 1 year. The Commissioner can revise orders passed by assessing officers and other subordinate authorities if they are erroneous and prejudicial to revenue interests (section 263) or not prejudicial to the assessee (section 264). Reasonable opportunity of being heard must be provided in both cases.
This document outlines the offences and penalties under the GST Act in India. It describes various types of offences like supplying goods without invoices, collecting tax but not paying it, evading taxes, and obstructing tax officers. It then provides the prescribed penalties for each type of offence, which range from Rs. 10,000 to imprisonment depending on the nature and amount of tax evaded. It also discusses provisions around confiscation of goods, issuance of notices and summons, voluntary disclosures, waiver or reduction of penalties, and prosecution for serious offences with tax evasion over Rs. 1 crore.
OBJECTIVE
To check if the levy and collection of GST is in order, there also needs to be monitoring of offences committed by any person in contravention to provisions of this Act. The GST Law imposes penalties and prosecution for offences depending on the intention of the person committing the offence. In this Webinar we will be learning about the provisions of the GST Act regarding the major offences, penalty leviable, prosecutions for sepcified offenses and general disciplines relating to penalty.
Objectives & Agenda :
To know when an appeal can be made before a Commissioner, High Court and Supreme Court. To gain knowledge regarding the pre-requisites for filing an appeal. To understand the provisions relating to the fines, penalties and the time limit in an appeal. To gain insight regarding the procedure followed during an appeal.
The document discusses advance rulings under the CGST Act of 2017 in India. It defines advance rulings as decisions provided by the Authority or Appellate Authority on certain tax-related questions. It outlines the matters that can be ruled on, the authorities responsible for rulings, procedures for obtaining rulings, appeals processes, and powers of the authorities. The overall aim of the advance ruling system is to provide taxpayers certainty on their tax obligations and avoid unnecessary litigation.
The document discusses the appeal structure in taxation in India. It outlines the various levels of appeal - from the Commissioner of Income Tax (Appeals), to the Income Tax Appellate Tribunal, High Court, and Supreme Court. It provides details on eligibility to file appeals, prescribed time limits, and filing fees at each level. The powers provided to income tax authorities to conduct proceedings are also summarized.
The document outlines the income tax appeal process in Pakistan. It discusses the various levels of appeal, including appealing an order to the commissioner, appellate tribunal, high court, and in some cases supreme court. Key details provided include the types of appealable orders, required documents, application fees, deadlines, and potential outcomes of appeals at each level of review. The overall purpose is to explain the legal process for taxpayers or the tax department to dispute orders and seek revisions from higher authorities.
Objectives & Agenda :
This webinar shall throw some with regards to the revision and rectification of orders passed by the income tax authorities. It shall look upon the orders which cannot be revised. This webinar shall also explain the procedure involved in the revision of an order.
Find out the detailed explanation of the provisions related to Offences and Penalties under the dual GST Law for the efficient tax administration from the presentation. Give it a read and we would love to know your feedback!
Income tax appeals and Revision by abhishek muraliAbhishek Murali
Art of Preparation and Presentation of Income Tax Appeals by CA Abhishek Murali, Direct Tax Committee Chairman of Southern India of the ICAI. Presented with Hon'ble Pr.CCIT of Tamil Nadu and Puducherry, Mr.Sushil Khumar, IRS.
Comprehensive preparation and process of Appeals
The document discusses two topics: 1) The classes of income-tax authorities in India according to the Income Tax Act 116, which include the Central Board of Direct Taxes, Directors-General of Income-tax, Commissioners of Income-tax, and various other officer titles. 2) The powers granted to these authorities, such as discovery and inspection, enforcing attendance and examining witnesses, compelling production of documents, collecting certain information, and issuing commissions and summons. These powers allow authorities to function like a civil court for tax-related cases and issues.
Advance rulings presentation to the Lao PDR Customs Department and Private se...Maria Sosa
The document provides information about advance rulings issued by customs headquarters prior to importation or exportation. Advance rulings are binding decisions that facilitate trade by increasing transparency and predictability. They have proven effective in expediting customs clearance processes and reducing costs for many countries around the world. The document outlines the customs department's plans to implement an advance rulings system, including guidelines on validity, binding nature, application process, decision timeline, and reconsideration/appeals procedures.
The document outlines the rules and procedures for employee discipline and efficiency for the Sarhad Tourism Corporation Limited. It discusses the following key points in 3 sentences:
The document defines misconduct, penalties, and the inquiry procedure for employees accused of misconduct or inefficiency. It states that minor penalties include censure or recovery of financial losses, while major penalties are reduction in role, compulsory retirement, removal from service, or dismissal. The inquiry procedure involves placing the accused employee on leave or suspension during an inquiry conducted by an inquiry officer or committee. The authority can then impose penalties based on the inquiry findings.
This document summarizes the tax appeals process in Pakistan. It discusses appeals that can be made to the Commissioner (Appeals) within 30 days against assessment or penalty orders. It also discusses appeals that can be made to the Appellate Tribunal within 60 days against orders of the Commissioner (Appeals). The document outlines the requirements, procedures, and potential outcomes for appeals to the Commissioner (Appeals) and Appellate Tribunal. It provides information on application fees, decisions timelines, and rights to further appeal certain legal questions to the High Court.
This presentation shall provide practical insights of The Maharashtra Regulation of Marriage Bureaus and Registration of Marriages Act, 1998 and shall help those who are getting married and would like register the marriage and avail marriage registration certificate.
The document summarizes the foreigner admission policy of DIMAS, the Department of Alien Integration, Policy and Admission in Aruba. It outlines exemptions from permit requirements, terms of residence, and a maximum 3-year rotation system for temporary residence permits with employment authorization. It also discusses general permit conditions such as guarantee deposits, awaiting application decisions abroad, and document requirements.
The document discusses the various income tax authorities in India according to the Income Tax Act. It outlines the central authorities like the Central Board of Direct Taxes (CBDT) which is responsible for tax policy and administration. Below the CBDT are various officers like Directors General, Commissioners, Deputy/Assistant Commissioners, and Income Tax Officers who have powers to assess taxes, conduct searches and seizures, and investigate tax evasion. Their roles, appointment processes, and jurisdictions are explained. Key powers of authorities like the CBDT, Commissioners and Income Tax Officers are also summarized.
Income tax authorities under Income tax act 1961Chirantan Tiwari
The document summarizes the key income tax authorities in India and their roles and responsibilities.
The main authorities are:
1) The Central Board of Direct Taxes (CBDT) which is responsible for policy and administration of direct taxes.
2) Income tax officers, tax recovery officers, and inspectors who handle assessments, collections, and enforcement.
3) The CBDT, directors general, commissioners, and joint commissioners can appoint other tax authorities and delegate powers.
4) The jurisdiction and powers of tax authorities are determined by the CBDT through orders and directions.
The Telegraph Act of 1885 established the legal framework for telegraph services in India. It granted the central government exclusive authority to establish, maintain, and operate telegraphs. It defined key terms like "telegraph" and established rules regarding the placement of telegraph lines. It also outlined offenses related to unauthorized access and interference with telegraphs, making such acts punishable by fines or imprisonment. The act aimed to facilitate reliable telegraph services while protecting telecommunications infrastructure and enforcing government control over this critical communications technology.
Objectives & Agenda :
Chapter XXII of the Income-tax Act, 1961 discusses various Offences under the Income-tax Act and the applicable Prosecutions for such offences. These provisions act as a tool for enabling the Income-tax Officers to effectively enforce Income-tax laws, to deter tax avoidance and evasion and to punish wilful defaulters.
Sections Covered: 275A - 280D
The document discusses the various income tax authorities in India, their roles and powers. It describes the Central Board of Direct Taxes as the apex body, and lists the various authorities below it like Directors General of Income Tax, Commissioners of Income Tax, and Income Tax Officers. It provides details on the appointment, jurisdiction and powers of these different authorities.
This document summarizes sections 263 and 264 of the Income Tax Act which deal with revision of orders by the Commissioner. Section 263 allows revision of orders prejudicial to revenue within 2 years, while section 264 allows revision in favor of the assessee within 1 year. The Commissioner can revise orders passed by assessing officers and other subordinate authorities if they are erroneous and prejudicial to revenue interests (section 263) or not prejudicial to the assessee (section 264). Reasonable opportunity of being heard must be provided in both cases.
This document outlines the offences and penalties under the GST Act in India. It describes various types of offences like supplying goods without invoices, collecting tax but not paying it, evading taxes, and obstructing tax officers. It then provides the prescribed penalties for each type of offence, which range from Rs. 10,000 to imprisonment depending on the nature and amount of tax evaded. It also discusses provisions around confiscation of goods, issuance of notices and summons, voluntary disclosures, waiver or reduction of penalties, and prosecution for serious offences with tax evasion over Rs. 1 crore.
OBJECTIVE
To check if the levy and collection of GST is in order, there also needs to be monitoring of offences committed by any person in contravention to provisions of this Act. The GST Law imposes penalties and prosecution for offences depending on the intention of the person committing the offence. In this Webinar we will be learning about the provisions of the GST Act regarding the major offences, penalty leviable, prosecutions for sepcified offenses and general disciplines relating to penalty.
The document summarizes key aspects of the Prevention of Money Laundering Act, 2002 in India. It covers:
1) Key definitions like proceeds of crime, property, reporting entity. It defines money laundering and its punishment.
2) Provisions for attachment of property involved in money laundering, its adjudication and confiscation by the authorities.
3) Obligations of reporting entities like banks to verify identities, maintain records and furnish information to authorities.
4) Powers of authorities to summon entities, access information and impose fines. It aims to prevent money laundering and confiscate illegally obtained property.
GST in half an hour for easy understanding.docx.pdfDushyanthKumar20
This document provides an overview of key concepts and processes under the Goods and Services Tax (GST) in India. It begins with a 3 step approach to determine whether a taxable supply has occurred: 1) Determine if a supply exists, 2) Determine if the supply is taxable, 3) Determine the appropriate tax rate.
It then lists some business processes and areas of interest under GST such as registration, supplies, time and place of supply, input tax credit, returns, payments, refunds, assessments, audits, inspections, adjudication, appeals, and the GST Council.
The document also provides finer points on concepts like aggregate turnover, distinction between audit and inspection, definition of business
Operator collecting tax collection at source (TCS) must pay the amounts collected to the government within 10 days of the end of the month in which the collections were made. The operator is also required to furnish a statement of all amounts collected within 10 days of the end of each calendar month. Upon notice from an authority of joint commissioner rank or higher, the operator must provide requested information within 5 working days. Failure to comply with these reporting and payment requirements could result in penalties for the operator of up to Rs. 25,000.
1. E-commerce operators are required to collect tax collected at source (TCS) from suppliers on certain supplies made through their platform. The TCS must be paid to the government within 10 days of the month in which it was collected.
2. Operators must furnish a statement of all TCS amounts collected within 10 days of the end of the calendar month. They are also required to provide certain details to authorities within 5 working days upon receiving a notice.
3. Details of supplies must be matched with supplier tax returns and any discrepancies not rectified will be added to the supplier's output tax liability. The TCS collected is deemed to be payment of tax by the supplier.
Inspection, Search, Seizure and Arrest under Goods & Services Tax Act.pptxtaxguruedu
In any tax administration the provisions for Inspection, Search, Seizure and Arrest are provided to protect the interest of genuine tax payers (as the tax evaders, by evading the tax, get an unfair advantage over the genuine tax payers) and as a deterrent for tax evasion. These provisions are also required to safeguard Government’s legitimate dues. Thus, these provisions act as a deterrent and by checking evasion provide a level playing field to genuine tax payers.
1) The e-commerce operator is required to collect tax collected at source (TCS) from suppliers at the time of credit of amount to their account or payment in cash, whichever is earlier.
2) The operator must pay the TCS amount to the government within 10 days of the end of the month and furnish a statement of all amounts collected.
3) The operator must furnish details of supplies to the tax authorities within 5 working days upon notice, failing which penalties up to Rs. 25,000 can be imposed.
This document discusses the Prevention of Money Laundering Act (PMLA) in India. It outlines the key agencies and authorities under the PMLA, including the Enforcement Directorate, Adjudicating Authority, Appellate Tribunal, and Special Court. It defines important terms like money laundering, proceeds of crime, and scheduled offences. It also explains the process of money laundering and the different stages of commencement of proceedings under the PMLA, including enquiry, investigation, attachment of properties, and criminal prosecution. Finally, it discusses some controversies relating to certain provisions in the PMLA and the law in practice.
1) E-commerce operators are required to collect tax collected at source (TCS) from suppliers on behalf of the government. The TCS must be paid within 10 days of the month following collection.
2) Operators must furnish statements with details of all TCS collected within 10 days of the end of each calendar month.
3) Authorities can issue notices requiring operators to provide certain details, and operators failing to provide such details within 5 working days can be penalized up to Rs. 25,000.
Basic Overview of Goods & Service Tax. this report covers various taxable events, exemption, Input Tax Credit, Place of supply, tax invoice, other voucher and penalty and offence. This is for common user for their first hand use.
Objectives & Agenda :
Goods and Services Tax (GST) is an Indirect Tax levied in India introduced in July 2017 which was one of the most important reforms in the Indian Economy. Before levying any tax, taxable events needs to be ascertained. Under GST, taxable event arises on "supply of goods or services or both". In this webinar, we shall analyse and understand the provisions related to definition of supply.
The document provides an overview of the definition and scope of "supply" under the GST regime in India. Some key points:
1) Supply is defined broadly under GST and includes all forms of supply of goods/services for consideration in the course of business. Certain activities like permanent transfers of business assets are deemed supplies even without consideration.
2) Schedules I, II, and III outline activities that are treated as supply, classify activities as supply of goods or services, and exclude certain activities from supply respectively.
3) Key elements of a supply are consideration, in the course/furtherance of business, and import of services. Related/distinct persons and agents are also addressed.
4
The document discusses Goods and Services Tax (GST) in India. It explains the need for GST, key features of GST like taxes subsumed, rates, registration process, time and place of supply. It also summarizes important aspects like input tax credit including set off, invoice matching, exclusion from ITC and time limit for claiming ITC. GST aims to simplify indirect taxation system by introducing a single tax to replace multiple taxes, while ensuring a seamless credit mechanism across the supply chain.
Asset Recovery Oct 2011 Author Gavin Shiu KornerstoneGavin Shiu
The document discusses Hong Kong's anti-money laundering laws and procedures for restraining, confiscating, and reporting on criminal proceeds. It outlines key ordinances such as the Drug Trafficking (Recovery of Proceeds) Ordinance and Organised and Serious Crimes Ordinance. It also discusses definitions of criminal proceeds, reporting obligations, procedures for obtaining restraint and confiscation orders, and challenges with the current conviction-based approach.
Supply under GST, Income tax presentationNirbhayJha3
NirbhayJha provides a summary of key concepts from the document on supply under GST in India. The document discusses various types of supplies such as individual, composite, and mixed supplies. It also covers topics like time and place of supply, input tax credit, and classification of goods and services.
1) A summons is a legal order for a person to appear in court or before an official for an inquiry regarding a civil or criminal matter. It is different from a notice in that a summons requires mandatory appearance while a notice does not.
2) Under the GST Act, the tax authorities have the power to issue summons to taxpayers requiring them to provide evidence or documents during an inquiry regarding tax compliance issues. Common reasons for a summons include disputes over input tax credits, tax refunds, or tax payments.
3) If a taxpayer receives a summons, they should consult a tax expert and gather all relevant documents before attending as required. It is important to fully understand and comply with the
Key Takeaways:
- Rationale for Introducing Penalty Provisions
- Consequences of Fake Invoicing under Income Tax Act and GST
- Legal Proceedings and Compounding of Offences
- Judicial Precedents
The document discusses India's Make in India initiative. Make in India aims to transform India into a global manufacturing hub by encouraging both domestic and foreign investment. Its objectives are to attract investment, build manufacturing infrastructure, foster innovation, improve ease of doing business, and develop skills. The program's advantages include new jobs, GDP growth, technology advancement, and rural development. Potential disadvantages include exclusion of agriculture, resource exploitation, and losses to small businesses and farmland.
The document discusses the roles and functions of a central bank. It provides that a central bank is the apex financial institution in a country that implements monetary policy and issues currency. It serves as a bank of issue, banker and advisor to the government, custodian of commercial bank reserves and foreign exchange reserves, lender of last resort, and controller of credit in the economy. The central bank also facilitates clearing and settlement between commercial banks. Maintaining price stability, exchange rate stability, employment maximization, and money market stabilization are key objectives of a central bank's credit control policies.
The document discusses the importance and techniques of leadership. It outlines seven key points of leadership's importance: initiating action, motivation, guidance, confidence, morale, work environment, and coordination. Effective leadership is important for maximizing efficiency and achieving organizational goals. The document also describes six techniques of leadership: framing policies with group consultation, developing voluntary cooperation, exercising authority when needed, building confidence, listening to subordinates, and following motivation principles. Overall, the conclusion is that leadership directs groups towards common goals by applying leadership attributes to create commitment and enthusiasm among followers.
Commercial And Non Commercial Advertising RuhaniSukhija
The document discusses commercial and non-commercial advertising. Commercial advertising is paid advertising done by businesses to promote products and attract customers. Its goal is to earn profits. Non-commercial advertising is done by organizations like charities, NGOs, and political groups to raise awareness for social causes and influence public opinion on issues like education, women's empowerment, and rural development. Unlike commercial ads, non-commercial ads aim to create social change rather than earn profits for businesses.
Pay per click advertising and how to create a websiteRuhaniSukhija
The document discusses creating a website and pay per click (PPC) advertising. It provides steps for creating a website, such as registering a domain name, finding web hosting, preparing content, and building the site. PPC advertising is described as a model where advertisers pay each time an ad is clicked. The document outlines the types of PPC ads, benefits of PPC including speed and precision, and disadvantages like cost and waste.
Integrating Advocacy and Legal Tactics to Tackle Online Consumer Complaintsseoglobal20
Our company bridges the gap between registered users and experienced advocates, offering a user-friendly online platform for seamless interaction. This platform empowers users to voice their grievances, particularly regarding online consumer issues. We streamline support by utilizing our team of expert advocates to provide consultancy services and initiate appropriate legal actions.
Our Online Consumer Legal Forum offers comprehensive guidance to individuals and businesses facing consumer complaints. With a dedicated team, round-the-clock support, and efficient complaint management, we are the preferred solution for addressing consumer grievances.
Our intuitive online interface allows individuals to register complaints, seek legal advice, and pursue justice conveniently. Users can submit complaints via mobile devices and send legal notices to companies directly through our portal.
Corporate Governance : Scope and Legal Frameworkdevaki57
CORPORATE GOVERNANCE
MEANING
Corporate Governance refers to the way in which companies are governed and to what purpose. It identifies who has power and accountability, and who makes decisions. It is, in essence, a toolkit that enables management and the board to deal more effectively with the challenges of running a company.
Safeguarding Against Financial Crime: AML Compliance Regulations DemystifiedPROF. PAUL ALLIEU KAMARA
To ensure the integrity of financial systems and combat illicit financial activities, understanding AML (Anti-Money Laundering) compliance regulations is crucial for financial institutions and businesses. AML compliance regulations are designed to prevent money laundering and the financing of terrorist activities by imposing specific requirements on financial institutions, including customer due diligence, monitoring, and reporting of suspicious activities (GitHub Docs).
The Future of Criminal Defense Lawyer in India.pdfveteranlegal
https://veteranlegal.in/defense-lawyer-in-india/ | Criminal defense Lawyer in India has always been a vital aspect of the country's legal system. As defenders of justice, criminal Defense Lawyer play a critical role in ensuring that individuals accused of crimes receive a fair trial and that their constitutional rights are protected. As India evolves socially, economically, and technologically, the role and future of criminal Defense Lawyer are also undergoing significant changes. This comprehensive blog explores the current landscape, challenges, technological advancements, and prospects for criminal Defense Lawyer in India.
सुप्रीम कोर्ट ने यह भी माना था कि मजिस्ट्रेट का यह कर्तव्य है कि वह सुनिश्चित करे कि अधिकारी पीएमएलए के तहत निर्धारित प्रक्रिया के साथ-साथ संवैधानिक सुरक्षा उपायों का भी उचित रूप से पालन करें।
Receivership and liquidation Accounts
Being a Paper Presented at Business Recovery and Insolvency Practitioners Association of Nigeria (BRIPAN) on Friday, August 18, 2023.
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2. CONTENTS
▪ Detention , seizure and release of Goods and Conveyances in Transit
▪ Confiscation of Goods and Conveyances
▪ Prosecution
▪ Cognizance of offences
▪ Compounding of offences
3. Detention , seizure and release of Goods and Conveyances
in Transit
Detention means the goods are
temporarily detained by officer to
check whether there is any violation of
law .If there is any violation , goods
are seized . Otherwise , goods are
released.
Seizure means goods or property is taken in the custody of the
department .But it is important to note that in seizure goods remain in
the ownership of real owner .
4. Provisions regarding detention , seizure and release of
goods and conveyances in transit
PROVISIONS
Detention or seizure of
goods and conveyances in
transit { section 129(1)}
Release of detained
goods
5. Detention or seizure of goods and conveyances in transit
Where any person
transports or
stores any goods
while in transit
Transportation
without
prescribed
documents
Results in detention
and seizure of
1. All such goods and
conveyance used
2. Documents related
to such goods and
conveyance
6. Release of detained goods
Owner of the
goods come
forward
Owner of the
goods does not
come forward
Exempted
goods
Taxable
goods
Taxable
goods
Exempted
goods
2% of the
value of goods
Or
2500 rupees
Whichever is
less
Tax
+
100% of the
Tax payable
5% of the value
of goods
Or
2500 rupees
Whichever is
less
Tax
+
50% of the
value of goods
Less : Tax
payable
7. Confiscation of goods or conveyances
In the case of seizure goods
remain in the ownership of real
owner , next stage of seizure is
confiscation. In confiscation ,
goods become the property of
government and government can
deal with it any way it wants
.Goods will be released on the
receipt of fine or the government
can even dispose them.
8. Provisions related with confiscation of goods or
conveyances under GST law
• Circumstances when goods or conveyances be
confiscated {section 130 (1)}
• Fine in lieu of confiscation {section 130(2)}
• Providing opportunity of being heard {section
130(4)}
• Title vest in the government {section 130(5)}
• Holding possession by proper adjuging officer
{section 130(6)}
• Dispose of goods or conveyance {section
130(7)}
9. Circumstances when goods or conveyances
be confiscated
Supplies or
receives any goods
in contravention of
provisions
Not keeping
account for goods
Supplies goods
without having
applied for
registration
Contravenes
provisions with
intent to evade tax
Uses of
conveyance in
contravention of
provisions
Confiscation of :
All such goods and
conveyances
Penalty:
Liable to penalty
under section 122
10. Fine in lieu of confiscation {section 130(2)}
Upper limit Lower limit
Fine not to exceed
the market value of
goods
Fine not be less
than the amount
of penalty under
detention
11. •Fine paid within 3 months
– release of goods
•Fine not paid within 3
months – dispose or sale
of such goods or
conveyance
• The proper officer
adjuging confiscation
shall take and hold
possession of things
confiscated
• The title of goods
confiscated will
vest in the
government
• No order of confiscation
of goods or of imposition
of penalty will be given
without reasonable
opportunity of being
heard
Provide
opportunity
of being
heard
Title vest in
the
government
Dispose of
goods or
conveyance
Holding
possession by
proper
adjuging
officer
12. PROSECUTION
Prosecution is the commencement
of legal proceeding .
It is the process of exhibiting
formal charges against the
offender . Section 198 of the
criminal procedure code defines
“prosecution” as the institution
and carrying on of the legal
proceedings against a person.
13. Provisions related with prosecution under CGST/SGST act
Offences which warrant prosecution
under CGST/SGST act {section132(1)}
Punishments {section(1)[I]}
Minimum
imprisionment
{section 132(3)}
Cognisable and non
cognizable offence
{section 132(5)}
Repition of
offence
{section132(2)}
Sanction required
for prosecution
{section 132(6)}
14. Offences which warrant prosecution under CGST/SGST Act
❖ Supplies without issue of invoice [section 132 (1)(a) ]
❖ Issues incorrect invoice [section 132 (1)(b)]
❖ Wrongly availing input tax credit [section 133(1)(c)]
❖ Failing to pay tax [section 133 (1)(d)]
❖ Evading tax fraudulently [section 133(1)(e)]
❖ Falsifies or substitutes financial records
[section133(1)(f)]
❖ Obstructs any officer in discharge of his duties
[section133(1)(g)]
❖ Acquires possession wrongly [section 134(1)(h)]
❖ Receiving or supplying contravention of provisions
[section134(1)(i)]
❖ Tampering with evidence (section 134(1)(j)]
❖ Fails to supply any information [section 134 (1)(k)]
15. PUNISHMENTS [SECTION 132(1)(I)]
5 years imprisionment
and fine
Tax evaded exceeding rupee
5 crore
3 years imprisionment
and fine
Tax evaded between rupees
2 crore and rupees 5 crore
1 year imprisionment
and fine
Tax evaded between rupees
1 crore and rupees 2 crore
6 months imprisionment and fine
or both
Offence
1. False records
2obstructing officer
3 tamper records
Punishments
16. Repetition of offense [section132(2)]
Where any person convicted of an
offence under section 132 is again
convicted of an offence under this
section , then , he shall be punishable
for the second and for every
subsequent offence with
imprisionment for aterm which may
extend to 5 years and with fine
18. Cognisable and non cognisable offences [section 132(4)and
section132(5)]
Section
132(4)
Non cognizable
and bailable
Offences where
the evasion of tax
is less than rupee
5 crore
Section132(5)
Cognizable and
non bailable
Offences where
the evasion of tax
exceeds rupee
5crore
19. Sanction required for prosecution [section
132(6)]
A person shall not be
prosecuted for any
offence under this
section except with
the previous
sanction of
commissioner .
20. Cognizance of offences
Section 137(1)
Offences by
companies
Section 137(2)
Person to be
held liable for
offence
Section 137(3)
Liability of
partner or
karta or
managing
trustee
Section 137(4)
No punishment
if offence was
committed
without
knowledge
21. Offences by companies (section 137(1))
Liability for
offences
Person incharge
at the time of
offence
Company
Director
includes a
partner in the
firm
Includes a
firm or other
association of
individuals
22. Persons to be held liable for offences [section 137(2)]
Director
Manager
Secretary
Other officer of
company
Held liable
Not held liable
If offence has been
commited with their
consent or negligence
If offence has not
been commited with
their consent or
negligence
23. • Where an offence has been commited by a
taxable person being a partnership firm
/limited liability partnership/hindu
undivided family or trust the partner or
karta shall be deemed to be guilty of that
offence and shall be liable to be proceeded
against and punished accordingly
Liability of partner or
karta or managing
trustee[section137(3)]
• No punishment shall be rendered to any
such person liable to any punishment ,if he
proves that the offence was commited
without his knowledge or that he exercised
all due diligence to prevent the
commission of such offence .
No punishment if
offence was
commited without
knowledge[section1
37(4)]
25. Provisions related with compounding of offences
under GST law (section 138)
Section 138(1) Section 138(2) Section
138(3)
Compoun
ding of
offences
Restrictions
in
compoundi
ng
Amount
payable
for
compoun
ding of
offences
Conseque
nce of
compoun
ding of an
offence
27. Restrictions to compounding
Allowed to
compound once
No compounding
if value exceed
one crore rupees
No compounding
if offence under
any other law
No compounding
if convicted for
an offence
No compounding
if accused of
commiting
specified offence
28. Amount payable for compounding of offences
[Section 138(2)]
Lower
limit
Greater of the
following
10000 rupees
or
50% of the tax
Upper
limit
Greater of the
following
30000 rupees
or
150%of the tax
29. Consequence of compounding of an
offence [section 138(3)]
• On payment of compounding amount
no further proceedings shall be
initiated against the accused person in
respect of the same offence.
No further
proceedings
• On payment of compounding amount
any criminal proceedings if already
initiated in respect of the said offence ,
shall stand abated
Abatement of
proceedings
30. REFERENCES
✓Goods and services tax book – Joy
Dhingra (Kalyani)
✓Goods and services tax book – VK
Publication
✓www.taxguru.com
✓www.bankingfinance.com