☛ GST: Classification of services - Rate of GST - MEP activities (Mechanical, Electrical & Plumbing Works) undertaken by the applicant falls within the definition of composite supply of works contract as defined under Section 2(119) of CGST Act.

☛ GST: Levy of CGST/MGST/IGST - fixed fee received - brewing / manufacturing, packing and supply of Products i.e. alcoholic liquor for human consumption - Supply of beer per se is not taxable under GST. What is taxable in the subject case is the job work which is a service provided by PIL to the applicant, for which they are receiving consideration.

☛ Income Tax: Initiation of special audit of the petitioner/assessee u/s 142(2A) - far from the case showing non-application of mind, the AO has carefully outlined what were the salient aspects in the accounts and returns of the assessee that needed to be looked into and made the impugned order directing special audit - writ petition dismissed.

☛ Income Tax: Employee on deputation - computation of total salary paid as provided in Section 195A - income tax liability on the salary received by the appellant from the consultant company - AO directed to employ Section 195A

☛ Income Tax: Penalty u/s 271(1)(c) - concealment or furnishing inaccurate particulars - Where the explanation is not make belief and sham but genuine, the assessee would satisfy the requirement of Explanation 1 to Section 271(1)(c). This test and requirement is satisfied in the present case.

☛ Income Tax: MAT computation - sick company - the assessee company’s net worth was negative and the assessee satisfied the condition to hold the company as sick industrial company. Though the SICA was repealed w.e.f. 2003, the provision was not removed from the Income Tax Act. - assessee is entitled for relief.

☛ Income Tax: Addition u/s 40A(3) - cash payment for freight charges paid to clearing and forwarding against for clearing our goods for exports - disallowances u/s 40A(3), cannot be made if the genuineness of the transaction has not been doubted by the authorities below

☛ Income Tax: Weighted deduction u/s 35(2AB) - clinical trials conducted outside the ‘in-house R & D facility’ - such expenditure has to be necessarily spent outside the facility, but for the purpose of ‘in -house’ research - claim of the assessee allowed.

☛ Customs: Seeks to further postpone the implementation of increased customs duty on specified imports originating in USA from 17th December, 2018 to 31st January, 2019

☛ Income Tax: Bad debts - assessee does not fulfill the conditions mandated in section 36(2) r.w.s 36(1)(vii) - However, the write off became imminent because the landlord declined to refund the security deposit. The write off has to be considered in the light of provisions of section 28 r.w..s 37 - Claim allowed.

More Highlights

☛ Reversal of common ITC availed on inputs and input services

☛ 360 degree analysis of Rule 43 of GST

☛ McDonald’s: Fast Food, Fast Profits  (Part-2)

☛ CORPORATE SOCIAL RESPONSIBILITY IN INDIA

☛ INTEREST SHOULD BE ON THE BASIS OF INCOME AS PER RETURN OF INCOME - a point of view with reasoning

☛ McDonald’s: Fast Food, Fast Profits (Part-1)

☛ Complete analysis-194IA - TDS on sale of Immovable Property

☛ SKILL DEVELOPMENT IN TAMIL NADU

☛ APPLICABILITY OF GST TO UPFRONT CONCESSION FEE

☛ COMPLETED GIFT

More Articles

☛ Cus - Seeks to further postpone the implementation of increased customs duty on specified imports originating in USA from 17th December, 2018 to 31st January, 2019

☛ 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 levy definitive anti-dumping duty on the imports of "Uncoated Copier Paper" originating in or exported from Indonesia, Thailand and Singapore

☛ IT - Central Government consultation Special Courts

☛ Cus (NT) - Amendment to Notification no. 62/94-Customs (N.T.) dated 21.11.1994 notifying Port Meadow u/s 7(a) of Customs Act, 1962 for unloading of imported goods and loading of export goods or any class of goods

☛ SEBI - Securities and Exchange Board of India (Mutual Funds) (Third Amendment) Regulations, 2018

☛ Cus (NT) - Exchange Rates Notification No.96/2018-Custom(NT) dated 06.12.2018

☛ Cus (NT) - Revised All Industry Rates of Duty Drawback

☛ IT - Income-tax (13th amendment), Rules, 2018

☛ IT - U/s 115JG(1) of IT ACt 1961 - Central Government notifies conditions a foreign company engaged in the business of banking in India

☛ IT - TDS deduction under section 194A of the Income-tax Act, 1961 in case of Senior Citizens - reg.

☛ Indian Law - Competition Commission of India (General) Amendment Regulations, 2018.

☛ Cus - Amendment to notification no. 52/2003-Customs dated 31.03.2003 -reg.

☛ CE - Amendment to notification no. 22/2003-CE, 23/2003-CE & 24/2003-CE all dated 31.03.2003 -reg.

☛ CE (NT) - General Bond (Form B-17) to be executed by the EOUs

More Notifications

☛ Customs - Forwarding of received applications under Regulation 4 of Customs Brokers Licensing regulations, 2018 to National Academy of Customs, Indirect Taxes and Narcotics, NACIN- reg.

☛ SEBI - Cyber Security Operations Center for the SEBI registered intermediaries

☛ SEBI - Clarification on clubbing of investment limits of Foreign Portfolio Investors ("FPIs")

☛ Companies Law - Extension of the last date of filing of Form NFRA-1-reg.

☛ DGFT - Requirement of documents for online IEC applications-clarifications reg.

☛ DGFT - Inclusion of Paragraph 2.79 E in the Handbook of Procedures of the Foreign Trade Policy (FTP) 2015-20 to lay down the procedure for re-export/return of imported SCOMET items

☛ DGFT - Amendment of Para 2.63 of the Handbook of Procedure (2015-20)

☛ Customs - Revision of All Industry Rates (AIRs) of Duty Drawback.

☛ Customs - IGST Export Refund-extension in SB005 alternate mechanism revised processing in certain cases including disbursal of compensation cess

☛ Goods and Services Tax - Removal of difficulty order regarding extension of due date for filing of Annual return (in FORMs GSTR-9, GSTR-9A and GSTR-9C) for FY 2017-18 till 31st March, 2019

☛ Companies Law - Relaxation of additional fees and extension of last date of in filing of CRA-4 (Cost Audit Report in XBRL format) - regarding.

☛ SEBI - Disclosure of significant beneficial ownership in the shareholding pattern

☛ SEBI - Cyber Security and Cyber Resilience framework of Stock Exchanges, Clearing Corporations and Depositories

☛ Customs - AEO programme digitization - Ease of doing business - Development of web-based application for AEO-T1- reg.

☛ DGFT - Errata to Public Notice No.50/2015-2020 dated 26th November, 2018 notifying procedure for allocation of quota for import of (i) Calcined Pet Coke for use as Calcined Pet coke (CPC) in Aluminium Industry and (ii) Raw Pet Coke for CPC manufacturing industry.

More Circulars

☛ India’s potential for export to SAARC countries must be tapped – Suresh Prabhu

☛ Quarterly Report on Public Debt Management – Q2 FY 2018-19 (July to September 2018)

☛ Measures to help the Rubber Growers

☛ Manual of Operating Practices for Trade Remedy Investigations and Handbook of Operating Procedures released by Commerce Minister

☛ Exports from SEZs at ₹ 3.33 lakh crore; Employment generation at 19.96 lakh persons

☛ E-Commerce Market growing at a rate of about 17% in 2018-19

☛ Transfer of Salt Department Land to Municipal Corporation of Greater Mumbai

☛ FDI on the increase

☛ Make in India

☛ Incentives to Industries in Jammu & Kashmir, Himachal Pradesh, Uttarakhand and North Eastern States

☛ India’s Foreign Trade: November 2018

☛ Pradhan Mantri Suraksha Bima Yojana (PMSBY)

☛ Merger of Banks

☛ Recapitalisation of Public Sector Banks (PSBs)

☛ Goods and Services Tax Collections

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Freezing bank account (9)

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Can i show 8% profit even though actual profit higher than 8% (44ad)?... (1)

Resolution for disposal of assets (2)

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Has charity included pay gst (2)

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