☛ GST: Nature of supply - The activity of fabrication and fitting and mounting of bus bodies on the chassis supplied by the other party is a composite supply with supply of goods, i.e., bus-bodies, being principal supply (HSN code 8707).

☛ GST: The value of points forfeited of the applicant on which money had been paid by the issuer of points on account of failure of the end customers to redeem the payback points within their validity period would amount to consideration received in lieu of services being provided by LSRPL to its clients - liable to GST.

☛ GST: Classification of goods - Truck Mounted Cranes (TMC) - The product manufactured/supplied by the applicant, which is resultant of mounting/fixing of crane on readymade trucks/lorries bought by them from truck/lorry manufacturers such as Ashok Leyland, TATA, etc. and known as truck mounted cranes (TMC), is classifiable under heading 8705.

☛ GST: Classification of goods - Battery’ for Mobile Handset - Under which of the chapter headings of the Customs Tariff Act, 1985, the said product “battery for mobile handsets’’, which is lithium-ion battery would be covered? - To be classified according to its use and type of sale.

☛ Income Tax: Valuation of closing stock - Even if the excise duty has not been paid and the assessee has postponed its payment, the valuation of the goods will not get affected. Accounting system of the assessee would be of no consequence to arrive at the true and correct valuation of the closing stock

☛ Income Tax: Sale of property owned exclusively by one of the partners - Even if the partner has been allotted the share, prior to dissolution, as is revealed from the facts, capital gains arise on the firm.

☛ Income Tax: TDS liability - additions u/s 40(a)(ia) - the management of the LOTUS Note is not a mere sharing of any infrastructure or facility and since the assessee has received the technical services from Bayor, the same is liable to TDS provisions - additions confirmed.

☛ Service Tax: Valuation - Mandap keeper service - Whether the Tribunal is correct in holding that no service tax is leviable/payable on the charges collected in the name of booking of the Rooms - Tribunal has rightly distinguished the Mandap service and the rooms rents received

☛ Service Tax: Business Auxiliary Service - The levy of VAT as well as Service Tax is mutually exclusive and once the transaction has been considered and declared as sale of goods it is not open to reopen transaction and consider it as service.

☛ Service Tax: Business Auxiliary Service - activity of chilling of milk - chilling of milk amounts to manufacture and it is settled law that process amounting to manufacture is not liable to service tax.

More Highlights

☛ Foreign Direct Investment

☛ GST Charcha: Whether Intermediary Services are export of Services?

☛ GST Charcha: Compliances of E-Way Bill – Alarming Bells!!

☛ RECENT ADVANCE RULINGS IN GST (PART-4)

☛ TAXABILITY OF LIQUIDATED DAMAGES UNDER GST

☛ Significant Beneficial Owners

☛ SOME CRYING ISSUES OF GST

☛ GST Charcha: Consultancy and support services aren’t composite supply in GST

☛ e-FORM No. DIR – 3 – KYC

☛ GST Charcha– Know Your Taxable Jurisdiction

More Articles

☛ Cus - Seeks to make amendments to Notification number 50/2017

☛ Cus (NT) - Exchange Rates Notification No.63/2018-Custom(NT) dated 19.07.2018

☛ IT - Central Government notifies that the provisions of Mutual Agreement through exchange of letters, shall be given effect to in the Union of India with effect from 29th April, 2018

☛ Cus - Seeks to amend BCD rates on certain textile goods

☛ Cus - Seeks to further amend Notifications No. 50/2017-Customs dated 30.06.2017 to expand list of exempt items for Handicraft Sector

☛ DVAT - Notified for general information that the Declaration Forms “C” and “F” are declared to be obsolete and invalid for all purposes with effect from their date of issue

☛ Cus (NT) - Tariff Notification in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Sliver- Reg.

☛ ADD - Seeks to rescind notification No. 36/2012- Customs (ADD) dated the 16th, July 2012

☛ ADD - Seeks to impose anti-dumping duty on the imports of "Grinding Media Balls" (excluding Forged Grinding Media Balls) originating in or exported from China PR and Thailand

☛ IT - Income-tax (7th Amendment) Rules, 2018

☛ Cus - Corrigendum - Notification No. 50/2018 dated 30 June 2018

☛ Co. Law - Amendment in Notification No. G.S.R 729 (E), dated the 21st September, 2015

☛ Co. Law - Amendment in Notification No. S.O. 1935 (E), dated the 1st day of June, 2016

☛ FTP - Insertion of import policy conditions under Chapter 29 and 30 of the ITC (HS) 2017, Schedule- I (Import Policy)

☛ FTP - Addition of Vishakhapatnam port for import of new vehicles

More Notifications

☛ Customs - Refund of IGST on export of goods on payment of duty-Clarification in case of SB003 errors and extension of date in SB005 & other cases using officer Interface for rectification of errors-reg.

☛ Customs - Refund of IGST on export of Goods on payment of duty-Setting up of Help Desks -reg.

☛ DGFT - Accountability of inputs where Advance Authorisations are issued on net to net basis for parts/ components- reg.

☛ DGFT - Amendments in the Appendix 3B of the Merchandise Exports from India Scheme (MEIS)

☛ DGFT - Merchandise Exports from India Scheme (MEIS) benefit for 'Bengal-gram' under ITC(HS) Code 07132020 upto 20.09.2018

☛ RBI - Incorporation of Name of the Purchaser on the Face of the Demand Draft

☛ DGFT - Enlistment under Appendix 2E of Agricultural and Processed Food Products Export Development Authority (APEDA) Authorized to issue Certificate of Origin (Non-Preferential) - reg.

☛ DGFT - Amendment in Paragraph 2.79 of the Handbook of Procedures of the Foreign Trade Policy (FTP) 2015-20

☛ FEMA - Exim Bank's Government of India supported Line of Credit of USD 18 million to the Government of the Republic of Zambia

☛ FEMA - Exim Bank's Government of India supported Line of Credit of USD 17.50 million to the Government of the Cooperative Republic of Guyana

☛ FEMA - Exim Bank's Government of India supported Line of Credit of USD 36.92 million to the Government of Cambodia

☛ FEMA - Exim Bank's Government of India supported Line of Credit of USD 45.27 million to the Government of Sri Lanka

☛ Income Tax - Revision of monetary limits for filing of appeals by the Department before Income Tax Appellate Tribunal, High Courts and SLPs/appeals before Supreme Court-measures for reducing litigation-Reg.

☛ DGFT - Clarification on acceptance of any copy of Shipping Bill in lieu of EP copy of Shipping Bill for grant of EODC of Advance Authorisation - reg.

☛ DGFT - Treatment the peas (other than Yellow Peas) imported during the period 25.4.2018 to 15.5.2018

More Circulars

☛ GST Council recommends GST rates reduction on several goods & for specified handicraft items

☛ GST rate on Services

☛ GST council approves Simplified GST Return

☛ Finance Minister Piyush Goyal addresses media after 28th GST council meet

☛ Recommendations made during the 28thmeeting of the GST Council held in New Delhi on 21st 2018

☛ Recommendations on opening of migration window for tax payers till 31st August, 2018

☛ Finance Commission to visit Gujarat from Sunday

☛ Foreign investment for technological upgradation and modernisation in Railways

☛ INVITATION FOR PUBLIC COMMENTS ON THE DRAFT NATIONAL GUIDELINES ON SOCIAL, ENVIRONMENTAL & ECONOMIC RESPONSIBILITIES OF BUSINESS, 2018

☛ Exchange Rate of Foreign Currency Relating To Imported and Export Goods Notified

☛ Shri P.P. Chaudhary hands over Registration Certificates to first batch of 16 Registered Valuers; exhorts them to set precedents and set standards

☛ Text of the PM’s statement ahead of the beginning of the Monsoon Session of Parliament

☛ Amendment in RTI Act

☛ Promotion of GI Products

☛ Financial Assistance to 142 Startups

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Transportation of school students (24)

Gstr1 july submission showing 20 invoice out 1400 error with submission (18)

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Acknowledgement for lut under gst (15)

Input tax credit on jcb (14)

Nccd on tobacco products in gst regime- on mrp or transaction value (14)

Itc on lift (14)

Service tax on pure labour without any contractor. (13)

Availment of itc of igst paid under protest by the supplier. (12)

Man power supply service to govt (12)

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Sale of old plant & machinery on which itc taken earlier-rule 40 or rule 44... (2)

Amortisation requirement under gst (2)

Input of igst on import of goods ( shipped from third party,sez unit in india)... (1)

Refund of accumulated itc in case of export under lut when 95% inputs (impo ...... (1)

Tds return (2)

Ebrc issue (2)

Gst amendment: government to revamp aar mechanism... (1)

Meis and seis - clarification required (1)

Applicable rate of interest on itc reversal of audit point prior to gst now ...... (1)

Business auxiliary services abatement (1)

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