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GST: Correctness of proceedings u/s 74 of the GST Act - The petitioner failed to discharge its onus to prove and establish beyond doubt the actual transaction, actual physical movement of goods as well as the genuineness of the transactions and as such, the proceedings have rightly been initiated against the petitioner under section 74 of the GST Act. - HC

GST: Rejection of bail - fake entities created to pass on and avail Input Tax Credit under the GST regimen (ITC) to defraud government exchequer - The ocular evidence will be through official witnesses of the department due to which there can be no apprehension of tampering, intimidating or influencing. - Bail Granted - HC

GST: Input Tax Credit (ITC) - Failure of the supplier to deposit the Tax / GST amount - constitutional validity of provisions of Section 16(2)(c) of the CGST Act - The impugned provisions prescribe certain conditions for the purchasing dealers to avail of the benefit. It is up to the purchasing dealer to avail of the said benefit/concession following those conditions. The prescription of the conditions cannot be considered discriminatory to contravene Article 14 - HC

I.Tax: Addition u/s 68 - Having Two PAN and using differnt names - Validity of claim of the Assessee that he is running Hotel Management Business - Assessee neither before the lower authorities nor before us produced any evidence to substantiate its claim beyond doubt. - Additions confirmed - AT

I.Tax: Validity of assessment u/s. 143(3) by change in incumbent but without issuance of order u/s. 127 - Violation of mandatory procedural provision - Assumption of jurisdiction by AO in competing the assessment proceedings u/s. 143(3) - Assessment order is not valid and set aside - AT

I.Tax: Permanent Establishment in India - advertisement revenue - India-Mauritius DTAA - foreign company / Non-resident - Taj India cannot be held to be a DAPE of the assessee in India under Article 5(4)(i) of the India-Mauritius DTAA in respect of the same. - AT

I.Tax: Applicability of provisions of section 115JB of the Act to the assessee bank - 'Banking Company' or 'Corresponding new bank '- corresponding new bank - We noticed earlier that the Ld CIT(A) has proceeded to decide this issue by observing that all provisions of BR Act are applicable to the Company. We notice that the Ld CIT(A) did not consider the effect of provisions of sec. 51 of the BR Act upon the assessee. - AT

I.Tax: TP Adjustment - Disallowance of claim of proportionate premium paid arising on account of repayment of optionally convertible debentures - the commercial arrangement entered into by the Assessee subsequent to the filing of return of income for the relevant previous year, cannot be applied retroactively to make additional claim leading to reduction of the income returned by the Assessee. - AT

I.Tax: Assessment u/s 153A - undisclosed investments - the DVO's report on standalone basis without any corroborating material cannot be construed as incriminating material and hence the additions solely on the basis of the DVO's report are not sustainable. - AT

I.Tax: Undisclosed commission income - To be taxed as accommodation entry or only commission income on such transactions - The assessee cannot blow hot and cold at the same time and assert that the sum identified by the Investigating authorities be treated as tainted and the rest of the transactions be accepted at its face value to be sacrosanct. - AT

I.Tax: Estimation of income on deficit gold jewellery - in search proceedings AO noted shortage of stock of gold ornaments - It is quite natural to give telescopic benefit to the assessee by observing that the jewellery found at the residence of MD of present assessee is belong to the assessee itself and due telescoping benefit to be given. As such, the finding of lower authorities that there was suppression of sale of jewellery in the hands of assessee have no legs to stand. - AT

I.Tax: Exemption u/s 11 and 12 - Charitable Activity u/s 2(15) - urban development concern - the assessee is eligible for exemption u/s 2(15) of the Act related to its activities. - AT

I.Tax: Penalty u/s 271B - not getting the books of account audited u/s 44AB - AO levied penalty on the assessee as the cash deposit during the F.Y. 2016-17 exceeded the threshold limit u/s 44AB of the Act, treating the same as turnover of the assessee, though he is only an agent who provided services for the Principal. - the provisions of section 273B of the Act applies to the case of the assessee since the assessee has a reasonable cause for not getting the books of account audited - No penalty - AT

I.Tax: Condonation of delay filing appeal in ITAT - delay of 1326 days - In view of the decision of the supreme court, if some valid reason is there, then any period can be condoned. In this case delay was caused due to fault of the erstwhile tax consultant of the assessee. Taking into consideration all these factors, we condone the delay and admit this appeal. - AT

Cus.: Conversion of Free Shipping Bills to Drawback Shipping Bills - The Tribunal while passing the Final order has already taken into consideration the Board’s circular as well as the decisions passed on the very same issue. The Commissioner has correctly followed the direction of the Tribunal and passed the impugned order - there are no grounds to interfere with the impugned order. - AT

Cus.: Levy of anti-dumping duty - domestic industry suffered material injury or not - Import of Mono Ethylene Glycol [MEG] - The designated authority has exclusively relied upon the marginal improvement in the period of investigation - Such selective examination, particularly in the present facts where the domestic industry itself has claimed injury since 2019-20, may defeat the entire purpose of injury assessment. - Notification dated 27.10.2022 set aside - Matter restored back - AT

S.Tax: Recovery of confirmed demand - Freezing the bank account of the petitioner - petitioner neither filed an appeal nor paid the tax and penalty - Considering the fact that the petitioner failed to exercise the right of appeal within the limitation period prescribed under the Statute, this Court is not in a position to extend the limitation period for filing the appeal - Petition dismissed - HC

S.Tax: Default in payment of service tax - Prosecution proceedings against the director of the company - offence punishable u/s 89 of Finance Act, 1994 r.w.s. 9 and 9AA of Central excise Act - Period covered is 2011-12 to 2015-16 - Prosecution launched in 2018 - If the Legislature itself thought of clarifying the position of law, it would not be appropriate for the Court to assume that something else and then to go on to punish the person for criminal offences - Proceedings quashed - HC

VAT: Adjustment of GST amount deposited by the petitioner in the financial year 2018- 19 with VAT liability - High Court allowed the adjustment - SLP against the decision of High Court dismissed - SC

VAT: Valuation - works Contract - Reduction in turnover as per Rule 9 of the Value Added Tax Rules - The general rule of law in taxing statutes is that in case of any doubt the benefit should be given to the assessee. However, in case of exemption and deduction to be given, a stricter approach may be followed - The assessee clearly qualifies for the said benefit. - HC

Indian Laws: Dishonour of Cheque - Vicarious liability of director - The cheque is for the discharge of the loan advanced to the company for its business purpose. The petitioner had stood guarantee for the loan advanced. She cannot deny knowledge of the borrowing or issuance of cheque just because she is not the signatory of the subject cheque. - HC

Indian Laws: Dishonour of Cheque - onus to rebut the presumption - the discrepancy in the amount dues to be realized from the respondent accused - no fault can be found in the approach of the learned Magistrate in shifting the burden upon the original accused to prove his case beyond reasonable doubt. - HC

Indian Laws: Dishonour of Cheque - lack of territorial jurisdiction to try the case - The petitioners on receipt of the summons from the Court had participated in the trial cross examined the complainant and also marshalled their witnesses. At the fag end of the trial, he had filed the petition to dismiss the complaint on the ground of lack of jurisdiction. - The trial Court had considered the law and facts, balancing the interest of either side with reasoning had dismissed the petition - the order of the trial Court is well based on law and fact and to be confirmed. - HC

GST: Refund of accumulated Input Tax Credit (ITC) - Turnover of Zero-rated supplies - mistake in submission of documents through common portal while filing applications in form GST RFD -01 - GST officer observed that, Shipping bills were not signed by appropriate authorities or obtained sanctioned from higher official as such those shipping bills cannot be accepted as “valid proof of export - Matter restored back to reconsider the matter afresh - HC

GST: Refund of unutilized Input Tax Credit (ITC) - zero-rated supply - Clubbing of invoices - The clubbing or taking into account of this particular bill was without authority of law. Even if a portion of the claim was rejected, the simultaneous recovery was impermissible. - HC

More Highlights

Articles Articles, Tax Laws, GST

⇒ PROVISIONAL ATTACHMENT IN GST TO PROTECT REVENUE IN CERTAIN CASES

⇒ Demand Notice cannot be enforced during the pendency of the Stay Application

⇒ REJECTION OF APPLICATION TO REGISTER AS INSOLVENCY PROFESSIONAL

⇒ No Recovery proceedings can be initiated until Investigation is completed

⇒ Section 206C of the Income Tax Act, 1961

⇒ High Court disposes 245 writ petitions by remanding the matter to Appellate Authority under Amnesty Scheme

⇒ The saga of “Voluntary Payment” in GST: DRC-03

⇒ Recommendations of the 52nd GST Council can be considered for the computing Time Limit for filing an Appeal

⇒ Timely compliance is important. File Returns and forms timely to avoid definite losses and contingencies due to late filing. Condonation of delay , even if allowed by CBDT may not be final.

⇒ Penalty and Interest could not be imposed when Credit was erroneously availed but not utilized

More Articles

Notifications Notifications

Cus (NT) - Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver

IT - Exemption from specified income U/s 10(46) – ‘Maharashtra Council of Homoeopathy’ notified

IT - Exemption from specified income U/s 10(46) – ‘Chhattisgarh Rajya Beej Pramanikaran Sanstha’ notified

Cus (NT) - Appointment of Common Adjudicating Authority

FTP - Imposition of Minimum Export Price on export of Onions.

SEZ - Central Government notifies an area of 0.781 hectares and de-notifies an area of 2.930 hectares, thereby making resultant area as 602.4346 hectares at Village Kalwara, Jhai, Bhambhoriya, Bagru Khurd & Newta, Tehsil- Sanganer, Distt-Jaipur, Rajasthan

SEZ - Central Government notifies the 77.0950 hectares area comprising the Survey numbers and constitutes an Approval Committee

ADD - Redetermination of duty in the matter of anti-dumping duty imposed on imports of ‘Natural mica-based pearl industrial pigments excluding cosmetic grade’ - Seeks to further amend notification No. 47/2021-Customs (ADD), dated 26th August, 2021, to modify the existing duty table

ADD - Seeks to continue levy of anti-dumping duty on "Synthetic Grade Zeolite 4A (Detergent Grade) from China PR for 5 years pursuant to First Sunset Review Final Findings issued by DGTR."

IT - Disclosure of information respecting assessees - U/s 138(1) of IT Act 1961 - Central Government specifies Deputy Director General (Tech Development Division), Unique Identification Authority of India (UIDAI)

FTP - Amendment in import policy condition of Gold under HS Code 71081200 under Chapter 71 of Schedule -I (Import Policy) of ITC (HS) 2022

CGST - Seeks to amend Notification No. 27/2022 dated 26.12.2022 to notify biometric-based Aadhaar authentication for GST registration in the State of Andhra Pradesh

ADD - Seeks to impose anti-dumping duty on toughened glass for home appliances imported from China PR for a period of 5 years.

Cus (NT) - Rate of exchange of one unit of foreign currency equivalent to Indian rupees - Supersession Notification No. 81/2023-Customs(N.T.), dated 2nd November, 2023

IT - Statement of Financial Transaction (SFT) for Mutual Fund Transactions - Frequency for submitting the statement and Minimum period of holding for different assets classes, modified

More Notifications

Circulars/ Public Notices Circulars/ Public Notices

Customs - EODC camp in RAs w.e.f. 13th November 2023 to 24th November 2023 - reg.

SEBI - Simplified norms for processing investor’s service requests by RTAs and norms for furnishing PAN, KYC details and Nomination

FEMA - International Trade Settlement in Indian Rupees (INR) – Opening of additional Current Account for exports proceeds

DGFT - Notice for Calcined Petroleum Coke(CPC) Manufacturers regarding import of Raw Pet Coke.

Customs - Order under rule 5 of the Customs (Assistance in Value Declaration of Identified Imported Goods) Rules, 2023 for Stainless Steel of J3 grade

SEBI - Most Important Terms and Conditions (MITC) - uniform documents for formalizing the broker-client relationship

DGFT - Pilot Launch of the Upgraded Electronic Bank Realization Certificate (eBRC) system for self-certification by Exporters

FEMA - Guidelines on import of silver by Qualified Jewellers as notified by – The International Financial Services Centres Authority (IFSCA)

Customs - M/s TG Terminals Private Limited, located at Village: Veshvi, Post: Dighode, Tal: Uran, District: Raigad, Maharashtra - 410 206, was appointed as “Custodian” under Section 45 of the Customs Act, 1962 and also approved as “Customs Cargo Service Provider” under rule 10 of the Handling of Cargo in Customs Areas Regulations, 2009 vide CFS Notification No.05/2016 dated 01.09.2016 for an area admeasuring 60,650 SQM.

SEBI - Procedural framework for dealing with unclaimed amounts lying with Infrastructure Investment Trusts (InvITs) and manner of claiming such amounts by unitholders

SEBI - Procedural framework for dealing with unclaimed amounts lying with Real Estate Investment Trusts (REITs) and manner of claiming such amounts by unitholders

SEBI - Procedural framework for dealing with unclaimed amounts lying with entities having listed non-convertible securities and manner of claiming such amounts by investors

Customs - Allowing advance assessment of Courier Shipping Bills

Customs - Amnesty Scheme for One Time Settlement of Default in Export Obligation by Advance Authorization and EPCG license Holders-reg.

DGFT - Introduction of Centralized Video Conference Facility at DGFT Headquarters

More Circulars

News News, PIB

⇒ Department of Revenue, Ministry of Finance, hosts APG Annual Typologies Workshop in association with Asia Pacific Group on Money Laundering (APG) and the World Bank

⇒ DFS Secretary chairs meeting on Cyber Security in Financial Services Sector and Online Financial Frauds

⇒ Indian Institute of Corporate Affairs (IICA) concludes two-day familiarisation programme for Independent Directors to bolster corporate governance in India

⇒ Auction for Sale (re-issue) of (i) ‘7.37% GS 2028’, (ii) ‘7.18% GS 2033’ and (iii) ‘7.30% GS 2053’

⇒ Agricultural and Processed Food Products Development Authority (APEDA) facilitates Cashew Exports on National Cashew Day to Bangladesh, Qatar, Malaysia and USA

⇒ National Academy of Customs, Indirect Taxes and Narcotics (NACIN) and National Academy of Direct Taxes (NADT) sign a Memorandum of Understanding (MoU) for sharing of resources

⇒ Changing Paradigms in the Financial Landscape (Remarks delivered by Shri M. Rajeshwar Rao, Deputy Governor, Reserve Bank of India – November 23, 2023 - at the FIBAC 2023 conference organised jointly by FICCI and IBA at Mumbai)

⇒ Commerce Ministry to collaborate with e-commerce companies to promote exports from districts

⇒ Winning in Uncertain Times: The Indian Experience (Inaugural Speech by Shri Shaktikanta Das, Governor, Reserve Bank of India - November 22, 2023 - Delivered at the FIBAC 2023 Conference Organised Jointly by FICCI and IBA at Mumbai)

⇒ Auction for Sale (re-issue) of (i) 7.33% GS 2026’, (ii) ‘7.18% GS 2037’, and (iii) ‘7.25% GS 2063’

⇒ India’s Exports to Nordic Countries has increased significantly in recent years: Shri Goyal

⇒ CCI approves acquisition of additional shareholding in CaratLane by Titan

⇒ AIM– NITI Aayog launches new accelerator to support Australian and Indian circular economy startups to rise

⇒ CGST Delhi East busts a syndicate of 48 fake firms availing fraudulent ITC of over ₹199 crores in “Operation Clean Sweep”, 3 arrested

⇒ Auction for Sale (re-issue) of (i) 7.33% GS 2026’, (ii) ‘7.18% GS 2037’, and (iii) ‘7.25% GS 2063’

More News

 

Latest Case Laws Latest Case Laws

 

Jiva Seva is Shiva Seva:
Service to humanity is Service to God

May I be born again and again, and suffer thousands of miseries so that I may worship the only God that exists, the only God I believe in, the sum total of all souls—and above all, my God the wicked, my God the miserable, my God the poor of all races, of all species, is the special object of my worship.

- Swami Vivekananda, CW, 5:137

 

 

 

A: PROVISIONAL ATTACHMENT IN GST TO PROTECT REVENUE IN CERTAIN CASES
A: Demand Notice cannot be enforced during the pendency of the Stay Appli...
A: REJECTION OF APPLICATION TO REGISTER AS INSOLVENCY PROFESSIONAL
A: No Recovery proceedings can be initiated until Investigation is completed
N: Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold ...
H: Correctness of proceedings u/s 74 of the GST Act - The petitioner fail...
H: Rejection of bail - fake entities created to pass on and avail Input T...
H: Input Tax Credit (ITC) - Failure of the supplier to deposit the Tax / ...
H: Addition u/s 68 - Having Two PAN and using differnt names - Validity o...
H: Validity of assessment u/s. 143(3) by change in incumbent but without ...
H: Permanent Establishment in India - advertisement revenue - India-Mauri...
H: Applicability of provisions of section 115JB of the Act to the assesse...
H: TP Adjustment - Disallowance of claim of proportionate premium paid ar...
H: Assessment u/s 153A - undisclosed investments - the DVOs report on sta...
H: Undisclosed commission income - To be taxed as accommodation entry or ...
H: Estimation of income on deficit gold jewellery - in search proceedings...
H: Exemption u/s 11 and 12 - Charitable Activity u/s 2(15) - urban develo...
H: Penalty u/s 271B - not getting the books of account audited u/s 44AB -...
H: Condonation of delay filing appeal in ITAT - delay of 1326 days - In v...
H: Conversion of Free Shipping Bills to Drawback Shipping Bills - The Tri...
H: Levy of anti-dumping duty - domestic industry suffered material injury...
H: Recovery of confirmed demand - Freezing the bank account of the petiti...
H: Default in payment of service tax - Prosecution proceedings against th...
H: Adjustment of GST amount deposited by the petitioner in the financial ...
H: Valuation - works Contract - Reduction in turnover as per Rule 9 of th...
H: Dishonour of Cheque - Vicarious liability of director - The cheque is ...
H: Dishonour of Cheque - onus to rebut the presumption - the discrepancy ...
H: Dishonour of Cheque - lack of territorial jurisdiction to try the case...
F: Retention on ITC for ocean freight
F: Eway bill requirement