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Home e-Newsletters Index Year 2017 November Day 11 - Saturday

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TMI Tax Updates - e-Newsletter
November 11, 2017

Case Laws in this Newsletter:

Income Tax Customs Service Tax Central Excise CST, VAT & Sales Tax



Highlights / Catch Notes

  • GST:

    The GST Council, in its 23rd meeting held at Guwahati on 10th November 2017, has recommended the following facilitative measures for taxpayers:

  • GST:

    Recommendations made On GST Rate changes by the GST Council as per discussions in its 23rd Meeting on 10th November, 2017 held at Guwahati

  • GST:

    The following changes were recommended in the Composition Scheme on the basis of discussions held in the 23rd meeting of the GST Council held at Guwahati today.

  • GST:

    Businesses can revise GST transition claim form now

  • GST:

    GST rate on mass consumption items cut to 18pc

  • Income Tax:

    Accrual of income - Method of accounting - when the services are rendered partially, revenue is to be shown proportionate to the degree of completion of the service and therefore the assessee was justified in spreading over the amount of membership fee and expenses - HC

  • Income Tax:

    Deduction u/s 80IA(4)(iii) - industrial park scheme - seeking rectification in the notification dated 26.12.2016 - The interpretation given by the Revenue would mean that this availability of deduction over a span of year would not occur in case of an enterprise carrying on the business of developing any infrastructural facility and would be confined to only one assessment year - revenue directed to amend the notification - HC

  • Income Tax:

    Requirement of AADHAAR number in filing return of income - to state that the partial stay granted by the Hon'ble Supreme Court would enure to the benefit of the petitioner even for filing income tax returns is a plea, which is not sustainable and is liable to be rejected. - HC

  • Income Tax:

    Clubbing of income for Arm’s Length Price (ALP) determination - clubbing of two distinct revenue streams - whether to segregate or not segregate two transactions, is entirely a fact dependent exercise that cannot per se be treated as a question of law. - HC

  • Income Tax:

    Entitlement to interest u/s 244 (A) - refund arose on account of interest that was partially waived by an order of the Settlement Commission - the expression “due” only means that a refund becomes due if there is an order under the Act which either reduces or waives tax or interest - claim of interest allowed. - SC

  • Income Tax:

    Payment of interest on refund u/s 244A - The State having received the money without right, and having retained and used it, is bound to make the party good, just as an individual would be under like circumstances - SC

  • Income Tax:

    Exemption u/s 11 and 12 - Merely because it has received certain fund on account of royalty as well as on account of sponsorship it cannot be said that the activities of the trust are no more covered u/s 2(15) - AT

  • Income Tax:

    TDS on payment to non-residents - Once we come to the conclusion that the income embedded in these payments did not have any tax implications in India, no fault can be found in not deducting tax at source from these payments or, for that purpose, even not approaching the Assessing Officer for order u/s 195. - AT

  • Income Tax:

    Nature of income from renting of shops - Since the company is neither the owner nor the deemed owner in terms of section 27(iiib) of the Act, therefore the "Contribution from Shops" cannot be assessed under the head "Income from house property. - AT

  • Income Tax:

    Slump sale - amount received by the assessee in lieu of transfer of the business leads - transfer of an individual asset, viz. its business leads - cannot be characterized as a consideration received by the assessee pursuant to a slump sale u/s 50B - AT

  • Income Tax:

    Salary income of the assessee for the previous year cannot be held to be taxable because he was not resident in India, as admittedly he was outside India for more than 182 days. - AT

  • Income Tax:

    Penalty levied u/s 271(1)(c) - eligible for deduction u/s 80P(2)(a)(i) denied - interest paid to the cooperative society exceeds the interest received from the bank on investments - Revenue is not required to look to the nature of the investment whether it was from its surplus funds or otherwise - HC

  • Customs:

    Requirement of health certificate issued online by the State Veterinary Authorities for export of meat and meat products.- Customs

  • Customs:

    Implementing Electronic Sealing for Containers by exporters under self-sealing procedure - Customs

  • Customs:

    Valuation - Re-assessment of Bills of Entry - value of subject goods imported in this case cannot be discarded and the same cannot be enhanced by placing reliance on the e-mail, NIDB and the invoices obtained from different sources. - AT

  • Customs:

    Valuation of imported goods - includibility - Before adding the royalty amounts to the value of imported components, it is necessary for the department to examine both the technical assistance agreement as well as the pricing agreement. - AT

  • Customs:

    Determination of origin of imported goods - The Original Authority has apparently exceeded the jurisdiction in going into the aspects of possible classification of inputs used by the supplier in the manufacture of impugned goods in Sri Lanka. - AT

  • Customs:

    Principles of natural justice - the order does not reflect the application of mind by the Appellate Tribunal as regards the existence of prima facie case or otherwise. - HC

  • Service Tax:

    Refund claim - Once, tax was paid by service provider and later by the service recipient. State has been doubly benefited. - The doctrine of unjust enrichment equally applies to the State. - AT

  • Service Tax:

    Telephone services - retention of part of deposit made - the retention of the portion of deposit towards capital expenditure incurred and not for provision of telephone service - demand set aside - AT

  • Service Tax:

    Providing of equipment on rent, per se cannot be called infrastructure support service. The scope of BSS as defined cannot cover simple renting of equipments - AT

  • Service Tax:

    Valuation - reimbursement of expenses - appellant cannot be treated as a pure agent as defined in the rules. Consequently, the appellant is required to discharge service tax on the full amount received - AT

  • Service Tax:

    Real estate agent service - consideration received under the heading “Administrative Charges” for allowing transfer of flat buyers right to another person - demand of service tax set aside - AT

  • Service Tax:

    Valuation - reimbursement of expenses - the appellant did not have the capacity to act as pure agent and did not fulfill the conditions of pure agent under the relevant rule. Hence the appellant will not be entitled to exclude expenses incurred. - AT

  • Central Excise:

    CENVAT credit - Whether CESTAT is correct in dropping demand of Cenvat Credit on common inputs issued u/sn 11A of the Central Excise Act, 1944 read with Rule 6 & 12 of erstwhile CCR, 2002 for having not maintained separate accounts as mandated statutorily by law? - Held Yes - HC

  • VAT:

    The assessee-Port Trust would fall within the meaning of "dealer" under Section 2(viii) of the Act and is consequently assessable to tax under the Act - HC


Articles


Notifications


Circulars / Instructions / Orders


News


Case Laws:

  • Income Tax

  • 2017 (11) TMI 588
  • 2017 (11) TMI 587
  • 2017 (11) TMI 586
  • 2017 (11) TMI 568
  • 2017 (11) TMI 591
  • 2017 (11) TMI 585
  • 2017 (11) TMI 584
  • 2017 (11) TMI 583
  • 2017 (11) TMI 582
  • 2017 (11) TMI 590
  • 2017 (11) TMI 589
  • 2017 (11) TMI 581
  • 2017 (11) TMI 567
  • 2017 (11) TMI 580
  • 2017 (11) TMI 566
  • 2017 (11) TMI 565
  • 2017 (11) TMI 579
  • 2017 (11) TMI 578
  • 2017 (11) TMI 577
  • 2017 (11) TMI 564
  • 2017 (11) TMI 563
  • 2017 (11) TMI 562
  • 2017 (11) TMI 525
  • 2017 (11) TMI 526
  • 2017 (11) TMI 576
  • 2017 (11) TMI 561
  • 2017 (11) TMI 575
  • 2017 (11) TMI 574
  • 2017 (11) TMI 573
  • 2017 (11) TMI 560
  • 2017 (11) TMI 572
  • 2017 (11) TMI 571
  • 2017 (11) TMI 570
  • 2017 (11) TMI 569
  • Customs

  • 2017 (11) TMI 559
  • 2017 (11) TMI 555
  • 2017 (11) TMI 554
  • 2017 (11) TMI 558
  • 2017 (11) TMI 553
  • 2017 (11) TMI 557
  • 2017 (11) TMI 552
  • 2017 (11) TMI 551
  • 2017 (11) TMI 550
  • 2017 (11) TMI 556
  • Service Tax

  • 2017 (11) TMI 548
  • 2017 (11) TMI 549
  • 2017 (11) TMI 547
  • 2017 (11) TMI 546
  • 2017 (11) TMI 545
  • 2017 (11) TMI 544
  • 2017 (11) TMI 543
  • 2017 (11) TMI 542
  • 2017 (11) TMI 541
  • 2017 (11) TMI 540
  • 2017 (11) TMI 539
  • 2017 (11) TMI 538
  • 2017 (11) TMI 537
  • 2017 (11) TMI 536
  • 2017 (11) TMI 535
  • Central Excise

  • 2017 (11) TMI 534
  • 2017 (11) TMI 533
  • 2017 (11) TMI 532
  • 2017 (11) TMI 531
  • 2017 (11) TMI 530
  • CST, VAT & Sales Tax

  • 2017 (11) TMI 529
  • 2017 (11) TMI 528
  • 2017 (11) TMI 527
 

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