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Service Tax: Service Tax audit of a private agency by CAG after migration to GST - We have serious doubts whether, with the aid of Rule 5A of the Service Tax Rules, 1994, the CAG can carry out compulsory Service Tax audit of private agencies like the petitioner.

GST: Input tax credit - As the deadline for completing this form and availing the credit is 20.10.2018, the respondents are hereby directed to permit the petitioners to fill the GSTR-3 form manually in a manner, as to permit it to claim a credit, subject to the final outcome of the proceedings

Income Tax: Charitable activity - exemption u/s 11 - mandation to specify the object/purpose in Form No.10 for claiming accumulation u/s. 11(2) - Though it is necessary, but that by itself would not mean that any inaccuracy or lack of full declaration in the prescribed format by itself would be fatal to the claimant.

Income Tax: Disallowance u/s 2(24)(x) r.w.s. 36(1)(va) - delay in payment of employee's contribution to PF and ESI - Appellant is therefore not correct in contending that if such wages are paid in the following month, the liability to deposit the employee's contribution to the fund gets differed by another month.

Income Tax: Nature of Copyright expense - only a licence to use the copyright was granted to the assessee company. The assessee company had not acquired the copyright. In such circumstances, licence fee paid was a revenue expenditure.

Income Tax: Eligibility for deduction u/s 80P - proof of charitable activities - a Society has to be registered under the Karnataka Society Act 1977 as Cooperative society for claiming deduction under 80P of the Act.

Income Tax: Disallowance u/s 14A r.w.r. 8D - suo moto disallowance by assessee - the legal grounds as to applicability of Rule 8D as raised by the Revenue fails since the assessee, himself, has computed disallowance u/r 8D and there was no question of satisfaction by AO before proceeding to compute the disallowance in terms of Rule 8D.

Income Tax: Disallowance @ 10% of the total labour charges paid in cash - non production of relevant bills/vouchers - the impugned disallowance @ 10% is on little higher side is liable to be restricted to 5% only

Insolvency and Bankruptcy: Action of RBI in selecting the petitioner as one of the borrowers and issuing instructions to the banks to make a reference under the IBC - whether is arbitrary, unreasonable and falls foul of Article 14 of the Constitution of India? - The RBI retains full discretion as to which account is to be included in which trench and this Court finds no reason to interfere with the exercise of such discretion. petition dismissed.

Customs: Classification of imported goods - Bonded Fabric Width 58 - The most appropriate classification would thus be under CTH 6006 32 00.

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Cus (NT) - Exchange Rates Notification No.87/2018-Custom(NT) dated 18.10.2018

Indian Law - Issue of (i) 7.74 per cent (Non-transferable) Special Gol Security, 2028; (ii) 7.81 per cent (Non- transferable) Special Gol Security 2029; (iii) 7.88 per cent (Non-transferable) Special Gol Security 2030; (iv) 7.95 per cent (Nontransferable) Special Gol Security 2031; (v) 8.03 per cent (Non-transferable) Special Gol Security 2032; and (vi) 8.11 per cent (Non- transferable) Special GoI Security 2033.

IT - Central Government hereby designates the Court of Session designated as Special Court under the Prohibition of Benami Property Transactions Act, 1988.

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

ADD - Seeks to rescind Notification No. 58/2012-Customs (ADD) dated 24th December, 2012.

IBC - Insolvency and Bankruptcy Board of India (Insolvency Professionals) (Second Amendment) Regulations, 2018




Co. Law - Regarding amendments in Schedule III to the Companies Act, 2013

Co. Law - Re-Constitution of High Level Committee on Corporate Social Responsibility - 2018 (HLC-2018)

Cus - Amends Notification No. 24/2005 dated 1st March, 2005

Cus - Amends Notification No. 57/2017 dated 30th June, 2017

Cus - Amends First Schedule of Customs Tariff Act, 1975

CE - Seeks to amend notification No. 11/2017-Central Excise dated 30th June, 2017 in order to reduce Central Excise duty rates on Aviation Turbine Fuel

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Circulars/ Public Notices

DGFT - Amendment in SION A-1486

Customs - Guidelines for handling and storage of valuable goods that are seized/confiscated by the Department.

VAT - Delhi - Regarding Assessment of cases of mismatch of Annexure 2A-2B under DVAT Act/Rules in respect of Financial Year 2014-15 & onwards

Customs - Cases where IGST refunds have not been granted due to claiming higher rate of drawback OR where higher rate and lower rate were identical – reg.

Customs - Classification of e-seals - reg.

Income Tax - Extension of due date for filing of IT Return and Audit Report from 15.10.2018 to 31.10.2018 - However, interest u/s 234A shall be payable - order u/s 119 of the Act

DGFT - Eligibility of firms providing educational services to NRI Students under SEIS

Goods and Services Tax - Jurisdiction of Central and State tax administrations under GST - Both the Central and State tax administrations shall have the power to take intelligence-based enforcement action in respect of the entire value chain

Goods and Services Tax - Notifications issued under CGST Act, 2017 applicable to Goods and Services Tax (Compensation to States) Act, 2017

Customs - Grant of reward to informers and Government servants - amendments in existing reward guidelines issued vide Circular No. 20/2015 dated 31.07.2015 and as amended vide Circular No. 29/2016 dated 23.06.2016 - reg.

Central Excise - Online registration and online filing of the claims, by the eligible units for disbursal of budgetary support under Goods and Service Tax Regime, located in States of Jammu & Kashmir, Uttarakhand, Himachal Pradesh and North East including Sikkim-reg.

Companies Law - Relaxation of additional fees and extension of last date of in filing of forms MGT-7 (Annual Return) and AOC-4 (Financial Statement) under the Companies Act, 2013- State of Kerala - reg.

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

Customs - Clarification in relation to applicability of provisions of Customs Act to Cruise Tourism-reg.

Goods and Services Tax - Implementation of Tax Deduction at Source (TDS) under GST-reg.

More Circulars


Conclave on Capital Goods in Steel Sector in Bhubaneswar

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

Last date to avail Input Tax Credit in respect of invoices or Debit Notes relating to such invoices pertaining to period from July, 2017 to March, 2018.

Uttarakhand has comparative advantage in Tourism, needs to fine-tune it's resources, says Shri N. K. Singh Challenges faced by Uttarakhand are real and its needs legitimate, Finance Commission to look into it positively

PNB fraud: ED attaches over ₹ 218-cr assets of Choksi, others

Clarification on the manner of filing the Quarterly Return by Composition Dealers in FORM GSTR-4

45 Indian companies participating in Expo Cihac in Mexico City

Health on GeM workshop organised

Auction for Sale (Re-issue) of Government Stocks


Change in Tariff Value of Crude Palm Oil, RBD Palm Oil, Others – Palm Oil, Crude Palmolein, RBD Palmolein, Others – Palmolein, Crude Soyabean Oil, Brass Scrap (All Grades), Poppy Seeds, Areca Nuts, Gold and Silver Notified

Top priority language localisation to bring government services closer to the people: Secretary Meity

India’s Merchandise Trade: April - September 2018 and September 2018

Index Numbers of Wholesale Price in India (Base: 2011-12=100) Review for the month of September, 2018

Shri Subhash Chandra Garg, Secretary, DEA: Stresses on the strengthening of the Multilateral Institutions like IMF; Calls for enhancement in the quantum of Quota Resources and realignment of voting shares so that Quota Shares of EMDCs increase in line with its growing relative economic position in the world; Welcomes the Bali FinTech Agenda; India has extensively used digital technologies to build FinTech, most prominently in the payment space.

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