☛ Income Tax: Validity of reopening u/s 147 - the escaped income for which proceedings were initiated were brought to tax. AO has power to make enquiry on other issues also and the issue of commission was already being enquired.

☛ Income Tax: Right to file an appeal before CIT(A) where the application for revision u/s 264 rejected by the CIT - Notwithstanding unsuccessful effort of the assessee in the revisional proceeding, still the assessee can file an appeal - thus assessee invoked revisional jurisdiction u/s 264 of the Act, it cannot constitute a bar for invoking the appellate jurisdiction.

☛ Income Tax: Disallowance for conversion charges paid to the Municipal Corporation - when necessary expenditure has been incurred by making payment to the MCD, it cannot be of any enduring benefit to the assessee - charges have been paid by the assessee for regularization of his existing business thus revenue in nature.

☛ Income Tax: Levy of penalty u/s 271(1)(c) - Once the AO accepts the revised return filed u/s 153A, the original return under Section 139 abates and becomes non-est - assessee has voluntarily admitted the unexplained expenditure and AO has accepted the same - No penalty can be levied.

☛ Customs: Absolute Confiscation - Gold jewellery in question was not declared - Since it is not prohibited item, in terms of the liberalized policy, jewellery can be brought and cleared on payment of duty.

☛ Customs: Import of Asphalt Hot Mix Plant - since the conditions of the notification were not complied with and from the facts of the case it is very clear that the same were never intended to be complied with, the impugned order confirming demand, penalties and confiscation of goods has been rightly passed.

☛ Customs: Mis-declaration of imported goods - Import of D. C. Defibrillators’ (DCD) with Standard Accessories - The wrong serial number of notification mentioned during filling of Bill of Entry was not intended. In such case it was not an intentional act of evading duty. - Benefit of exemption allowed.

☛ Customs: Import of Lead Acid Batteries - The appellant being the actual user and the lead batteries have been imported not for the purpose of sale, the condition of filing the registration certificate, though not applicable in toto, has been substantially complied by them. - Order of confiscation and penalty set aside.

☛ Service Tax: Refund of CENVAT credit - N/N. 05/2006 – CE (NT) lays down that the amount claimed as refund of CENVAT amount should be debited before applying for the Refund and the appellant had not done so. They have debited the amount, but much later and thereby they violated the condition 2(h) of the notification - Refund was rightly rejected.

☛ Service Tax: Renting of immovable property - joint ownership - SSI exemption - Clubbing of clearances - each individual owner is entitled to avail the benefit of threshold limit of ₹ 10 lakhs under N/N. 8/2008 dated 01/03/2008.

More Highlights

☛ Slump sale between related parties- Taxability and Valuation under GST

☛ APPLICABILITY OF REVERSE CHARGE MECHANISM TO UNREGISTERED PERSON

☛ NEW ADVANCE RULINGS IN GST

☛ NAA RULING ON SUPPLY OF LIFT : NO ANTI-PROFITEERING CHARGE PROVED

☛ BILL OF ENTRY (ELECTRONIC INTEGRATED DECLARATION AND PAPERLESS PROCEEDINGS) REGULATIONS, 2018

☛ RESOLUTION APPLICANT UNDER INSOLVENCY AND BANKRUPTCY CODE, 2016

☛ GST on free supplies by customers

☛ GIST OF RECENT PRONOUNCEMENTS ON GST (PART-XIII)

☛ GOODS AND SERVICES TAX PRACTITIONERS

☛ GST pe Charcha - Part 2

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

☛ Cus - Seeks to further amend notification No. 50/2017- Customs dated 30.06.2017

☛ Co. Law - Companies (Registered Valuers and Valuation) 2nd Amendment Rules, 2018

☛ Co. Law - Companies (Significant Beneficial Owners) Rules, 2018

☛ Co. Law - Companies (Management and Administration) 2nd Amendment Rules, 2018

☛ Co. Law - Central Government appoints the 13th June, 2018 as the date on which the Sections of Companies (Amendment) Act, 2017 shall come into force

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

☛ CGST - Goods which may be disposed off by the proper officer after its seizure under the Central Goods and Services Tax Act

☛ IT - Amendment in Notification No. 44/2017 Dated 5th June 2017

☛ CGST - Central Goods and Services Tax (Fifth Amendment) Rules, 2018

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

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

☛ FTP - Amendment in import policy conditions of Natural Rubber under Exim code 4001 10 of Chapter 40 of ITC (HS), 2017 - Schedule - 1 (Import Policy)

☛ Cus (NT) - Notifying under Section 7 of Customs Act 1962, Surat airport as Customs airport

☛ Cus (NT) - Powers of adjudication of the officers of Customs

More Notifications

☛ Customs - Electronic sealing - Deposit in and removal of goods from Customs bonded Warehouses

☛ FEMA - Investment by Foreign Portfolio Investors (FPI) in Debt - Review

☛ DGFT - Corrigendum to Public Notice No. 09/2015-2020 dated 14.05.2018

☛ Goods and Services Tax - Clarifications of certain issues under GST– regarding

☛ Customs - ICES Application migration to Solaris – reg.

☛ Customs - Procedure for e-commerce exports through Post and clarification regarding personal imports

☛ Customs - Powers of adjudication of the officers of Customs- reg.

☛ DGFT - Eligibility of Indian Mackerel under Table 2 of Appendix 3B of Foreign Trade Policy 2015-20

☛ VAT - Delhi - Regarding Recovery

☛ Goods and Services Tax - Clarifications of certain issues under GST– regarding

☛ Customs - Powers of adjudication of the officers of Customs- reg.

☛ DGFT - EODC Camp in RAs during 11.6.2018 to 22.6.2018 – reg.

☛ DGFT - Benefit of Focus Product Scheme to HS Code 8481 -FTP 2009-14

☛ Customs - Procedure to be followed for EGM error SB006 related to ICDs – reg.

☛ FEMA - Foreign Investment in India -Reporting in Single Master Form

More Circulars

☛ Commerce Minister releases study report on Indian pharma exports to China

☛ GST leads to Formalization of Economy and Widening of Tax Base

☛ RBI Reference Rate for US $

☛ Fourth Governing Council Meeting of NITI Aayog Concludes

☛ INDIA’S FOREIGN TRADE: May 2018

☛ Commerce Minister reviews progress of sectoral export promotion strategy

☛ Commerce & Industry Minister visits US, meets USTR

☛ GST – CONCEPT & STATUS (Updated as on 01st June 2018)

☛ RBI Reference Rate for US $

☛ Findings of 160 cost-benefit analyses in Andhra Pradesh and Rajasthan presented to NITI Aayog

☛ Clarifications of certain issues under GST

☛ RBI Reference Rate for US $

☛ Change of email and mobile number of the authorized signatory by taxpayers with assistance from the jurisdictional tax officer under GST system

☛ Proposed amendments to Income-tax Rules, 1962 - Inviting comments of stakeholders

☛ Draft notification proposing amendments in rule 47 of the Income- tax Rules, 1962, Form of appeal to the Appellate Tribunal (Form No.36) and Form of memorandum of cross-objections to the Appellate Tribunal (Form No.36A)

More News

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Itc on canteen (24)

Refund of cenvat credit of service tax under rule 5 of cenvat credit and notification no 27/2012 by servive provider. (17)

Msme limit by turnover or investment (16)

Service tax and gst onocean freight (15)

Acknowledgement for lut under gst (13)

E way bill for intra state jobwork (12)

Can c form issued without excise value (11)

Refund of unutilized itc under gst after export under lut (11)

Gst payment on reverse charge for gta (11)

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Taxability of pension of an government employee... (2)

Job work permission under eou scheme (2)

Transfer of business under tnvat act'2006... (1)

Cash limit (2)

Charges for regn. of immovable properties of transferor companies in the na ...... (1)

Composition to regular (1)

System not in confirmation with rule 39(e) of cgst rules... (1)

Gst for individual house construction (2)

Cash depositing more than 2 lakhs in one time... (1)

Section 40a(3) (1)

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