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Customs: Customs (Finalisation of Provisional Assessment) Regulations, 2018

GST: Levy of GST - Supply or not - distinct persons - The activities performed by the employees at the corporate office in the course of or in relation to employment such as accounting, other administrative and IT system maintenance for the units located in the other states as well i.e. distinct persons as per Section 25(4) of the CGST Act shall be treated as supply as per Entry 2 of Schedule I of the CGST Act.

GST: Supplies to SEZ - The supply of non-alcoholic beverages/ingredients to such beverages, to SEZ units using coffee vending machines by the applicant, do not qualify as zero rated supply, as defined under Section 16 of the IGST Act 2017.

GST: Classification of goods - Tarpaulins made of HDPE woven fabrics’ are, therefore, laminate of two materials – HDPE tapes woven into fabrics and LDPE sheets/film - Tarpaulins made of HDPE woven fabrics’ will not be classified under HSN 6306 of the GST Tariff.

Income Tax: Settlement of case - power of commission u/s 254F to rectify an order - levy of interest liability u/s 234B which was not levied in the original order - order of commission sustained.

Income Tax: Rectification of an error u/s 154 - The order was passed after scrutiny u/s 143(3) - AO revised assessment order and recalculated the indexed cost of acquisition applying the provisions of Section 48(iii) of the Income Tax Act - Tribunal has rightly deleted the rectification order passed u/s 154 -

Income Tax: Accrual of income in India - managed hosting services - Royalty and / or Fees for Included Services under section 9(i)(vi) / (vii) - India- USA Double Taxation Avoidance Agreement (‘DTAA’). - The income is not taxable in India.

Income Tax: Taxability of Interest paid by the branch (PE) in India to its parent foreign bank in Japan - Deduction of interest so paid as expenditure - the interest income received by the head office of the assessee bank would not be chargeable to tax in India - Allowed as deduction in the hands of branch as business expenditure.

Income Tax: Claim of expenditure u/s 37(1) - medical insurance premium paid for the family members of the employees of the company - Claim of expenses allowed as business expenditure.

Income Tax: Deemed dividend u/s 2(22)(e) - the company took a loan against the Keyman Insurance Policy and this sum was advanced to the Appellant - deemed dividend is taxable only to the extent of accumulated profits of the company available at the beginning of the relevant financial year.

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Articles
Notifications

Cus (NT) - Exchange Rates Notification No.74/2018-Custom(NT) dated 16.08.2018

Cus (NT) - Customs (Finalisation of Provisional Assessment) Regulations, 2018

Cus (NT) - Exchange Rates Notification No.72/2018-Custom(NT) dated 14.08.2018

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 - Corrigendum - Notification No. 58/2018-Customs, dated the 7th August, 2018

Indian Law - The Constitution (One Hundred and Second Amendment) Act, 2018.

IT - U/s 10(46) of the Income-tax Act, 1961 Central Government notifies Madhya Pradesh Real Estate Regulatory Authority, a body constituted by Government of Madhya Pradesh, in respect of the specified income arising to that body

IT - Central Government notifies ‘Insolvency and Bankruptcy Board of India’, New Delhi, a board established by the Central Government,in respect of the specified income arising to that board

CGST - Seeks to prescribe the due dates for filing FORM GSTR-3B for the months from July, 2018 to March, 2019

CGST - Seeks to prescribe the due dates for quarterly furnishing of FORM GSTR-1 for those taxpayers with aggregate turnover of upto ₹ 1.5 crores for the period from July, 2018 to March, 2019

CGST - Seeks to prescribe the due dates for furnishing of FORM GSTR-1 for those taxpayers with aggregate turnover of more than ₹ 1.5 crores for the months from July, 2018 to March, 2019

Cus (NT) - Appointment of Common Adjudicating Authority by DGRI-reg.

Cus (NT) - Appointment of Common Adjudicating Authority by DGRI-reg.

IT - U/s 280A(1) Of IT Act 1961, Central Government, in consultation with the Chief Justice of the Gauhati High Court designate the Court of Munsiff No. 3 -cum-Judicial Magistrate, 1st Class, Kamrup (M), Guwahati as the Special Court for the North Eastern Region

FTP - Amendment in Para 2.05 of Foreign Trade Policy 2015-2020

More Notifications

Circulars/ Public Notices

DGFT - Status of Norms Fixation of Advance Authorisations obtained under Self declaration basis- reg.

DGFT - Acceptance of installation certificate under EPCG Scheme by the RAs, wherein installation certificate is submitted beyond 18 months, without penalty

Customs - Clarification regarding bank guarantee requirement for bond executed by EOUs-reg.

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

Goods and Services Tax - Taxability of services provided by Industrial Training Institutes (ITI) - reg.

Customs - Simplification and rationalization of processing of AEO-T1 application - reg.

Goods and Services Tax - Classification of fertilizers supplied for use in the manufacture of other fertilizers at 5% GST rate- reg.

Goods and Services Tax - Clarification regarding applicability of GST on the petroleum gases retained for the manufacture of petrochemical and chemical products – regarding

Goods and Services Tax - Clarification regarding applicability of GST on various goods and services–reg.

DGFT - Provision for HS Code 63029100 under MEIS incentives for the period 01.04.2015 to 30.09.2015

DGFT - Amendment in Policy and Procedure for online IEC applications – regd.

DGFT - Enhancement of rates for certain HS codes in the Appendix 3B, Table 2 under MEIS

DGFT - Amendment in Para 2.08 of the Handbook of Procedure 2015-2020

Customs - Standard operating procedures for discharge of bonds executed by nominated agencies/ banks under Notification no. 57/2000-Customs dated 08.05.2000.

SEZ - Clarification on Instruction No. 89 on Guidelines regarding Change in Shareholding pattern, Name Change of SEZ Developers and SEZ units - regarding.

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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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