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GST: Can a registered person, who purchases goods from a composition manufacturer / trader take input tax credit under GST?

GST: In case of a person who is/was availing composition scheme u/s 10. What will be the due date of payment tax and submitting the return once he crosses the threshold limit of ₹ 75 Lakhs (or rs. 50 lakhs) as the case may be? Can he continue to pay tax and file the return on quarterly basis?

GST: What is the due date of payment of Tax under GST? What is the due date for payment of tax (GST) and filing of return in case of person opting for composition scheme u/s 10?

Central Excise: Deemed Manufacture - Computer Bracket Assembly - The activities undertaken by the appellant amounts to manufacture and they are liable to avail CENVAT credit on the inputs / input services used in the export of goods.

Income Tax: Rectification applications - Power of ITAT - Tribunal could not have undertaken such incisive and detailed examination of facts and law to come to the conclusion which are completely contrary to its own conclusion arrived at after detailed considerations. Such powers simply do not flow from the power of rectification under sub-section (2) of Section 254 of the Act. - HC

Income Tax: Losses arising due to negligence of employees has to be allowed as expense if the loss took place in the normal course of the business and the amount involved was necessarily kept for the purpose of business

Income Tax: At this stage of granting registration u/s12AA, CIT has to satisfy himself about the objects of the institution and genuineness of the activities. He is not required to look into the utilisation of funds, commercial nature of activity etc., at that stage.

Service Tax: Penalty - Since the appellants have paid the entire amount of Cenvat Credit along with interest and 25% of penalty within one month of the issue of show-cause notice, all proceedings shall be deemed to be concluded in respect of that amount in terms of the proviso to sub section (2) of section 73

Service Tax: Penalty u/s 77(2) of the Finance Act, 1994 - there is no provision for imposition of personal penalty on the director under the Finance Act. - All the liabilities/ responsibilities are of the service provider.

Service Tax: CENVAT credit - to discharges service tax liability under the category of Advertising Agency Services - the appellant is not eligible to avail the CENVAT credit of Central Excise duty on structural steel used for fabrication and erection of unipoles.

Central Excise: CENVAT credit - Since the waste batteries are not exempted from payment of duty, the embargo created in Rule 6 of the said rules will not be applicable for payment of amount/ reversal of cenvat credit in the generation of the waste batteries.

Central Excise: SSI exemption - At the most it can be said that Economos, Austria have not registered the name "Seal Jet" but that does not make any difference, because notification prescribed that in order to avail exemption goods should not bear the brand name of another person whether it is registered or otherwise

Customs: Arrears of cost recovery charges - the petitioner on their own volition stopped remitting the charges from the period of January, 2009. Such conduct of the petitioner is not appreciable, as unless and until exemption is granted the petitioner has to pay the said amount without prejudice their rights to seek for exemption from the CBEC. - HC

Customs: Enhancement of declared value - “mixed plain plastic film rolls” of cuts/odd sizes - The Custom Valuation Rules will operate only when there is a dispute or a doubt on such transaction value.

Customs: EOU - rejection of the assessee's request for issuance of NOC by the Customs - the delay on the part of the authorities cannot act prejudice to the assessee's interest, which cannot be denied the benefits, if otherwise available.

Income Tax: Validity of assessment - pending assessment on the date of the search - ITAT was in error in holding that the assessment for AY 2008-09 should be treated as ‘pending’ whereas in terms of the CBDT circular it should be treated as final in respect of which no scrutiny are to be started - HC

More Highlights

Cus (NT) - Exchange Rate of Foreign Currency relating to Imported and Export Goods Notified

IT - U/s 10(46) of the Income-tax Act, 1961 Central Government notifies Noida Special Economic Zone Authority, Noida an authority constituted under the Special Economic Zone Act, 2005 of the Government of India, in respect of the specified income arising to that authority

IT - U/s 10(46) of the Income-tax Act, 1961 Central Government notifies Assam State Biodiversity Board, a board established by the Government of Assam in respect of the specified income arising to that board

IT - Section 10(46) of the Income-tax Act, 1961 Central Government notifies Haryana Electricity Regulatory Commission, a commission constituted under the Haryana Electricity Reform Act, 1997, in respect of the following specified income arising to that body

IT - U/s 10(46) of the Income-tax Act, 1961 Central Government notifies State Pollution Control Board, Odisha, a board established by the Government of Odisha, in respect of the specified income arising to that board

GST CESS Rate - Seeks to exempt intra-State supplies of second hand goods received by a registered person, dealing in buying and selling of second hand goods and who pays the goods and services tax compensation cess on the value of outward supply of such second hand goods, as determined under sub-rule (5) of rule 32 of the Central Goods and Services Tax Rules, 2017, from any supplier, who is not registered, from the whole of the goods and services tax compensation cess leviable thereon under section 8 of the Goods and Services Tax (Compensation to States) Act, read with sub-section (4) of Section 9 of the Central Goods and Services Tax Act

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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

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