ADVOCATE VISHAL JOSHI

  Applicability of provisions of Sections 44AA, 44AB and 44AD when turnover is up to Rs. 1 crore Broadly speaking, provisions of Section 44AD of the Act are applicable to Resident Individual or HUF or Partnership Firm engaged in the business other than specified (excluded) business whose total turnover/ gross receipts are Rs.2 Crores or less. Such an assessee is given an option to file a presumptive income return. The assessee filing presumptive or higher income return would enjoy the relaxation of not getting its accounts audited u/s 44AB even if total sales / turnover / gross receipts exceed Rs. 1 Crore. If such an assessee files below presumptive income return, barring certain situations, it will have to get its accounts audited even if total sales / turnover/ gross receipts are / is Rs. 1 Crore or less. It is also to be noted that if an assessee does not opt for presumptive taxation system,then he is required to maintain books of accounts and get tax audit done u/s 44AB(a) of t...

  Arrest Under GST: Caution Needs To Be Applied ‘Rule of law’  is the soul of a democratic setup and no one is allowed to breach or even shake the golden thread of the same. The supremacy of rule of law cannot be questioned by anybody and the same cannot be threatened even by the state. Personal liberty is largely associated with the concept of rule of law that is to say “liberty of a person cannot be taken away except with the procedure established under the law” [Article 21 of the Indian Constitution]. Nowadays there has been the tremendous rise in arrest under GST Laws. Let it be clarified that the author is not against the arrest under the statute but definitely concerned the manner arrest is being made in complete defiance of the law established under the statute and settled by the judiciary. This paper is a humble attempt to highlight the problem faced by the business as the power to arrest under GST has become a tool to pressurize the business in order to meet the undue...