☛ GST: Seizure order - E-way bill not accompanied - neither it can be said that Petitioners have deliberately committed any fault or disobeyed law intentionally or fraudulently, particularly when respondent-authorities themselves were not very clear - Order of Seizure of goods for the period prior to 1.2.2018 set aside.

☛ GST: Jurisdiction of state authorities to detain and seize the goods under inter-state movement under IGST Act - Officers of State are also competent for search, seizure and imposition of penalty in respect of violation of Central Enactments. Moreover, provisions relating to search and seizure are not for the purpose of imposition of a new liability but to regulate fiscal statutory provisions in order to avoid evasion of tax.

☛ GST: Levy of GST - The service by the Commission Agents as per the submissions of the applicant to the agriculturists of turmeric is service under the Heading 9986 and is taxed to 'NIL' rate of CGST & SGST

☛ GST: Levy of GST on - applicability of Ocean freight Charges and System of double taxation with respect to import of raw materials - The applicant is liable to pay IGST on transportation of goods by vessel under Reverse Charge Mechanism (RCM)

☛ GST: Classification of goods - Concessional rate of GST - supply of Copper XLPE insulated armoured low tension cables - Whether the power cables supplied by the Applicant would be covered under the scope of SI. No. 1 of Notification No. 03/2017-CT? - Held No

☛ Income Tax: Revision u/s 263 - undisclosed hawala trading - very reliable and genuine information was received from the VAT and Sales Tax authorities with regard to the operations with these dealers styled as 'hawala traders' - Revision proceedings sustained.

☛ Income Tax: Addition on account of difference in TDS receipts - AO directed to re-compute the income of the assessee in accordance with cash system of accounting, which is the system of accounting regularly employed by the Assessee; and to give credit for prepaid taxes on account of tax deducted at source, as per law, having regard to section 199 of I.T. Act r.w.r. 37BA of Income Tax Rules.

☛ Income Tax: Receipt towards compensation in lieu of ‘right to sue’ - capital receipt OR revenue income - breach of development agreement and a compensation was paid to avoid litigation - compensation received in lieu of ‘right to sue’ could not be regarded as revenue receipt

☛ Income Tax: Levy of penalty u/s 271(1)(c) or u/s 271AAB - assessment u/s 153A - the deeming provisions of Explanation 5A cannot be applied because at the time of search for the relevant previous year under appeal, the due date of filing of the return of income had not expired.

☛ Income Tax: Validity of order U/s 206C(6)/206C(7) - default in TCS liability - When no limitation is provided in the statute then a period of four years is considered as reasonable for passing the order U/s 201(1)/201(1A) of the Act.

More Highlights

☛ Restructuring Corporate Offenses: Government Appointed Panel Suggests in-house adjudication system

☛ COLLECTION OF TAX AT SOURCE UNDER ‘GST’

☛ PART I: GST AUDIT REPORT COMMENTARY

☛ TAX DEDUCTED AT SOURCE UNDER ‘GST’

☛ GST Annual Return- A Surgical Strike by Government

☛ LEVY OF LATE FEE UNDER ‘GST’

☛ GOODS & SERVICES TAX (GST) – RECENT UPDATES

☛ Concept and Applicability of TDS and TCS provisions w.e.f. October 1, 2018

☛ GST late fee waiver scheme launched and GSTR1 filing date extended*

☛ LEVY OF GST ON EXTRA NEUTRAL ALCOHOL (ENA)

More Articles

☛ Co. Law - Companies (Appointment and Qualification of Directors) Sixth Amendment Rules, 2018

☛ Co. Law - Companies (Registration Offices and Fees) Fifth Amendment Rules, 2018

☛ Co. Law - Companies (Indian Accounting Standards) Second Amendment Rules, 2018

☛ Cus (NT) - Exchange Rates Notification No.81/2018-Custom(NT) dated 20.9.2018

☛ CGST - Seeks to notify the rate of tax collection at source (TCS) to be collected by every electronic commerce operator for intra-State taxable supplies

☛ IGST Rate - Seeks to insert explanation in an entry in notification No. 9/2017 – Integrated Tax (Rate) by exercising powers conferred under section 6(3) of IGST Act, 2017.

☛ UTGST Rate - Seeks to insert explanation in an entry in notification No. 12/2017 – Union Territory Tax (Rate) by exercising powers conferred under section 8(3) of UTGST Act, 2017.

☛ CGST Rate - Seeks to insert explanation in an entry in notification No. 12/2017 – Central Tax (Rate) by exercising powers conferred under section 11(3) of CGST Act, 2017

☛ IGST - Seeks to notify the rate of tax collection at source (TCS) to be collected by every electronic commerce operator for inter-State taxable supplies

☛ Co. Law - Central Government appoints the 19th September 2018, as the date on which the provisions of section 37 of the Companies (Amendment) Act, 2017 shall come into force

☛ Co. Law - Companies (Corporate Social Responsibility Policy) Amendment Rules, 2018

☛ Cus (NT) - Exchange Rates Notification No.80/2018-Custom(NT) dated 19.9.2018

☛ LLP - Limited Liability Partnership (Second Amendment) Rules, 2018

☛ Cus - Amendment to Customs Exemption Notifications No. 24/2015-Customs dated 08.04.2015 to align it with amendment in Foreign Trade Policy

☛ IT - U/s 35(1) (ii) of IT Act 1961 Central Government approved for organization . M/s Indian Council of Medical Research

More Notifications

☛ DGFT - Activation of E-com module for SEIS, based on ANF 3B notified vide Public Notice 15/ 2015-20 dated 28.06.2018

☛ Customs - Sanction of pending IGST refund claims where the records have not been transmitted from the GSTN to DG Systems-reg.

☛ FEMA - External Commercial Borrowings (ECB) Policy - Liberalisation

☛ Goods and Services Tax - Extension of time limit for submitting the declaration in FORM GST TRAN-1 under rule 117(1A) of the Central Goods and Service Tax Rules, 2017 in certain cases

☛ Customs - Customs procedure for export of cargo in containers and closed bodied trucks from ICDs/CFSs through Land Customs Stations (LCSs) - Reg.

☛ DGFT - Charging of Fees for REX Registration — reg.

☛ Goods and Services Tax - Guidelines for Deductions and Deposits of TDS by the DDO under GST

☛ Goods and Services Tax - Modification of the procedure for interception of conveyances for inspection of goods in movement, and detention, release and confiscation of such goods and conveyances, as clarified in Circular Nos. 41/15/2018-GST dated 13.04.2018 and 49/23/2018-GST dated 21.06.2018 - regarding

☛ Goods and Services Tax - Clarification regarding processing of refund claims filed by UIN entities – regarding

☛ DGFT - 'To do list for SCOMET Policy/Procedure' for feedback/inputs from industry for simplification of licensing procedure of SCOMET items - regarding

☛ Customs - Safeguard duty on Solar cells whether or not assembled in modules or panels - regarding

☛ DGFT - One time relaxation for regularisation and issue of EODC for exports made prior to imports where Advance Authorisation issued for import of Natural Rubber/ Silk – reg.

☛ DGFT - Allocation of preferential export of sugar to USA under TRQ for the year 2018-19

☛ Goods and Services Tax - Levy of GST on Priority Sector Lending Certificates (PSLC) – regarding

☛ DGFT - Guidelines to apply for MEIS under the System Driven approval mechanism for MEIS applications for shipping bills from EDI ports

More Circulars

☛ Preventive Vigilance – The Key Tool of Good Governance at Public Sector Institutions (Urjit R. Patel, Governor, Reserve Bank of India - September 20, 2018 - at the Central Vigilance Commission, New Delhi)

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

☛ Gurugram Zonal Unit of the Directorate General of GST Intelligence (DGGI) arrests two businessmenin a case of fraudulent issuance of Input Tax Credit (ITC) invoices without actual supply of goods, involving evasion of approximately ₹ 79.21 crore on the taxable value of concocted supplies of ₹ 450 crore

☛ Government announces the Revision of interest rates for Small Savings Schemes for the Third Quarter of the current Financial Year 2018-19

☛ I-T Dept inspects books of Jet Airways

☛ Cabinet approves equity infusion of RCF in Talcher Fertilizers Ltd.

☛ Cabinet approves Revised Cost Estimate of Dam rehabilitation and Improvement Project

☛ Prime Minister to lay foundation stone of world class Convention centre in New Delhi

☛ Abundant Opportunities for Australian Superfunds to Invest In India : Suresh Prabhu

☛ CCI approves the combination of Linde Aktiengesellschaft and Praxair, Inc. under Section 31(7) of the Competition Act, 2002, subject to modifications/remedies to address the Anti-competitive effects resulting from the said combination.

☛ CCI imposes penalties upon Sugar Mills and their Associations for rigging the bids in respect of Joint Tender floated by Oil Marketing Companies for procurement of Ethanol for blending with Petrol

☛ India signs Financing Loan Agreement with the World Bank for US$ 74 Million for Uttarakhand Workforce Development Project (UKWDP)

☛ Suresh Prabhu Urges G-20 Members to Focus on Services for Enhancing Global Trade

☛ Auction for Sale (Re-issue) of Government Stocks

☛ Government initiates consolidation – amalgamated entity to be India’s third largest bank

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