Income Tax: Provisions of ICDS shall prevail w.e.f. AY 2017-18 to the transactional issues dealt therein over earlier judicial pronouncements.

Income Tax: Voluntary Reporting of Estimated Current Income and Advance Tax Liability - CBDT issues draft notification

GST: GST - Detention of goods under transport - discrepancy in documents - the statutory provisions provide a mechanism for adjudication following detention of goods including for the provisional release thereof pending adjudication - HC

Income Tax: Reassessment - first few paragraphs of the assessment order dealt with objections and disposed of accordingly - Unfortunately, the manner in which the AO has decided the issue is wholly unsustainable in law - HC

Income Tax: Business expenditure u/s 37 - liquidated damage - breach of contract terms - Expenditure was not incurred for any purpose which is an offence or which is prohibited by law - cannot be disallowed - HC

Income Tax: TDS liability - ITAT confirmed the liability - We do not see how it is possible for us to uphold the order of the Tribunal and when it purports to decide two Appeals of the Revenue by single paragraph conclusion - HC

Income Tax: Reopening of assessment - sufficiency of material available with the AO to form a belief that income chargeable to tax had escaped assessment - bogus purchases - seller refused to respond - notice would not be interfered with - HC

Income Tax: Exemption u/s 11 - education activities - transport and hostel facilities surplus cannot be considered as business income of the assessee society

Income Tax: Genuineness of labour wages expenses, embroidery charges, fabrication expenses etc. - getting work done through small workmen who do not have any permanent place of residence - disallowance of ad hoc expenditure deleted.

Customs: Project import - Since the goods were never used for the purpose for which it was imported, the actual user condition has been violated - Redemption fine and penalty imposed.

Customs: Penalty u/s 112 (a) - CHA - Lack of due diligence and failure to take more precautions can not, by itself, bring in penal consequences

Service Tax: Valuation - inclusion of reimbursement of expenses - managing participation of clients in certain mela, fairs, promotional activities etc. - They are liable to service tax on the gross amount received - They cannot restrict their tax liability to only agency commission

Service Tax: Import of services - GST - The fact that those services were received outside India will not change the fact that the services have been paid for by the beneficiary appellant, who is located in India. - Demand confirmed.

Service Tax: Merely because payment is received in Indian rupee, it cannot be said that payment against export has not been received in convertible foreign exchange.

Central Excise: Merely vehicle numbers was not mentioned on the invoices cannot be the reason to deny Cenvat Credit

More Highlights

TDS APPLICABILITY ON GOVERNMENT CONTRACTS UNDER GST (Under Section 51 of the CGST Act, 2017)

MISTAKES IN DRAFTING

All about E-way Bill under GST

INSOLVENCY AND BANKRUPTCY INTERNSHIP – AN OPPORTUNITY FOR STUDENTS

BUSINESS VERTICAL IN GST

Delay in issue of SGST Notifications by the States - Implications

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Jharkhand SGST - Related to due date of GSTR-6 in the month of July & Aug., 2017

Jharkhand SGST - July return for Data base access or retrial services from outside India

ADD - Levy of anti dumping duty on New/unused pneumatic radial tyres with or without tubes and/or flap of rubber (including tubeless tyres) having normal rim dia code above 16 originating in, or exported from China PR

Gujarat SGST - Extension of time limit for submitting the declaration in FORM GST TRAN-1 under rule 120A of the Gujarat Goods and Service Tax Rules, 2017

Rajasthan SGST - Notifying section 51 of the RGST Act, 2017 regarding TDS.

Rajasthan SGST - The Rajasthan Goods and Services Tax (Seventh Amendment) Rules, 2017.

More Notifications

Central Excise - Filing of Special Leave Petition against Orders of Hon'ble High Courts staying Collection of Tax under GST- reg.

Goods and Services Tax - Extension of time limit for submitting the declaration in FORM GST TRAN-1 under rule 120A of the Central Goods and Service Tax Rules, 2017

FEMA - Export Data Processing and Monitoring System (EDPMS) - Issuance of Electronic Bank Realisation Certificate (eBRC)

DGFT - Amendments in SION H-331 for export product "Toothbrushes" -reg.

GST - States - Set up of Audit Cell under TVAT Act, 2004.

GST - States - Set up of latest Audit Cell.

More Circulars

Voluntary Reporting of Estimated Current Income and Advance Tax Liability - CBDT issues draft notification

Company is deemed to be in existence for the purpose of taxation u/s 52 of GVAT Act post merger/ demerger cannot be said to be ultra vires

C.Govt. Prescribes Rules for generation of e-way bills - when to be generated, by whom to be generated & validity of e-way bills

Though right of privacy is a fundamental right, An invasion by the Government is allowed only for legitimate aims - SC

GST Registration - Guidelines to complete proceedings for grant of Registration Certificate including verification under HGST Act, 2017

More SMS

Voluntary Reporting of Estimated Current Income and Advance Tax Liability

RBI Reference Rate for US $

Draft Notification for insertion of new rule 39A in the Income-tax Rules, 1962 – comments and suggestions-reg.

Auction for Sale (Re-issue) of Government Stocks

Manmohan takes potshots at note ban, 'hasty' rollout of GST

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Gst on job work charges (21)

Transitional credit. (19)

Merchant export under gst (15)

Gst on cold storage refrigeration machinery (13)

Rcm applicability for sez under gst (13)

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Reverse charge on import of services from affiliate company... (2)

Third country export (2)

Gst on services of 2 wheelers / motor cars (automobile industry)... (2)

Hotel booking under gst by an agent (1)

Clarity in return 3bgstr regarding revese posting and then credit the same... (1)

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