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Home Newsletters Index Year 2018 January Day 27 - Saturday
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TMI Updates - Newsletter dated: January 27, 2018

Case Laws in this Newsletter:

GST Income Tax Customs Corporate Laws Service Tax Central Excise Indian Laws


  1. GST : Royalty and license fee exempted from Integrated tax to the extent it is paid on the consideration attributable to royalty and license fee included in transaction value under Rule 10(1)(c) of Customs Valuation (Determination of value of imported Goods) Rules, 2007. - Notification

  2. GST : Special procedure with respect to payment of tax by registered person supplying service by way of construction against transfer of development right and vice versa. - Notification

  3. GST : Total Revenue Collections under GST for the month of December 2017 stand at ₹ 86,703 crore till 24th January 2018;

  4. GST : Detention of goods - surgical gloves - detention on the ground that the goods were not accompanied by the document provided for under Rule 138(2) State SGST Rules - HC found the detention as illegal and unsustainable

  5. Income Tax : Exemption deduction u/s.54F - Merely not keeping the amount in capital gain tax and keeping the same in the bank account and utilizing the same within the statuary period will not disentitle the assessee for claim of deduction u/s.54F. - Tri

  6. Income Tax : Addition on account of commission expenses - genuinity of claim - merely because in immediately preceding two years commission was not paid cannot be the ground for adverse inference - Tri

  7. Income Tax : Computation of deduction u/s 10(23C) - aggregate annual receipts of two institutions - where there are more than one such institutions, which are under a particular society or trust, such as the assessee society in the present case, the aggregate annual receipts of each of the educational institutions would have to be considered separately and not together. - HC

  8. Income Tax : Condonation of delay in filing the income tax return and for making a claim for refund of the tax deducted at source - Section 119(2)(b) - matter restored before the CIT. - HC

  9. Income Tax : Imposition, legality and validity of compounding fee - obligations to pay the compounding charges - Guidelines of 2014 - Since an accused may have to suffer severe consequences for non-payment of tax, if he is held to be guilty, it is not open to him to challenge the reasonableness of the same. - HC

  10. Customs : Changes in the Drawback Rates of Certain Export Goods - DBK schedule as amended

  11. Customs : Demand of interest - scope of the order of the settlement commission - revenue failed to raise the issue if Interest before the settlement commission - revenue is alone to be blamed. It must blame itself if it has not conducted the proceedings before the Commission in the manner demanded by the statute or its report or its conduct of the proceedings was deficient in any manner - HC

  12. FEMA : Exim Bank's Government of India supported Line of Credit of USD 71.40 million to the Government of Côte d’Ivoire - Circular

  13. FEMA : Exim Bank's Government of India supported Line of Credit of USD 100 million to the Government of the Republic of Kenya - Circular

  14. Companies Law : Offences by companies - applicants are arraigned as accused - the company, though a legal entity, cannot act by itself, it can act only through its directors. The directors are expected to exercise their power on behalf of the company with utmost care, skill and diligence. - HC

  15. Service Tax : Merely sharing the staff amongst the group companies and got the reimbursement of cost from such associate company, the same should not be considered as rendering of the taxable service for the purpose of levy of service tax. - Tri

  16. Service Tax : Educational institution or not - commercial coaching - Courses conducted in collaboration with Ballarat University, Australia - it cannot be accepted that courses conducted by the appellant result in issue of degree or diploma which are recognized by the law for the time being in force in India - Tri

  17. Service Tax : Refund claim - Mis-match of documents - There is a provision of self certification or certification by Chartered Accountant about co-relation and nexus of input services with the exports. - Tri

  18. Service Tax : Claim of exemption towards services used for export of goods - the responsibility entirely lies with the appellant to prove that the goods were in fact exported by utilising the taxable services - Tri

  19. Central Excise : Classification of goods - Carry bags - the printing made on such carry-bags is merely incidental and accordingly they cannot be called as product of printing industry under chapter 49 - more appropriate classification will be as bags made of paper under heading 4819. - Tri



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