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Tax Updates - TMI e-Newsletters

Home e-Newsletters Index Year 2018 November Day 23 - Friday

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TMI Tax Updates - e-Newsletter
November 23, 2018

Case Laws in this Newsletter:

GST Income Tax Corporate Laws Insolvency & Bankruptcy Service Tax Central Excise CST, VAT & Sales Tax Wealth tax Indian Laws



TMI SMS


Highlights / Catch Notes

  • GST:

    Levy of GST - ancillary service provided by a company duly registered under the Companies Act, 2013 which is owned by State Government of Punjab - Transfer fees - such activity is liable to GST

  • GST:

    Detention of goods - demand of IGST - petitioner paid the amount through the portal - Revenue insists that the petitioner ought to have paid the tax and penalty either through cash or through Demand Draft - That insistence seems to be archaic and out of tune with the very spirit of the GST regime.

  • GST:

    Profiteering - reduction of rate of tax - The restaurant has failed to pass on both the above benefits to his customers - The amount is inclusive of the extra GST which the Respondent had forced the customers to pay due to wrong increase in his basic prices otherwise the prices to be paid by them should have further got reduced by the amount of the GST illegally charged from them.

  • Income Tax:

    Cancellation of registration of assessee charitable trust u/s 12AA(3) - No evidence for misuse of such foreign contribution/donation is brought on record by the Revenue authorities before cancelling such registration - No ultra vires or illegal activity on the part of the respondent-trust.

  • Income Tax:

    Charitable activities - exemption u/s 11 - the fact of the actual payment made to the Ohio University in the very next year and that too offered for taxation in India being undisputed, no such substantial question of law arises for our further consideration.

  • Income Tax:

    If the assessee invests the entire consideration in construction of the residential house within three years from the date of transfer he cannot be denied deduction u/s 54F of the Act on the ground that he did not deposit the said amount in capital gain account scheme before the due date prescribed u/s 139(1) of the Act.

  • Income Tax:

    The deduction has been claimed by the assessee under section 10A and not under the sections specified above for computing adjusted total income, thus, the provisions of section 115JC are clearly not applicable.

  • Income Tax:

    TPA - computation of ALP of the international transactions by applying BLT - ALP of an international transaction involving AMP expenses, the adjustment made by the TPO/DRP/AO is not sustainable in the eyes of law.

  • Income Tax:

    Disallowance made u/s 14A - there is no need to take into account any direct or indirect expenses of the agriculture division and apply the provisions of section 14A of the Act thereon.

  • Income Tax:

    Computation of deduction u/s 80IB(9) - there is no scope to adjust expenses relating to other “undertakings” while computing deduction u/s 80IB(9) of the Act.

  • Corporate Law:

    Conversion of the status of the company from “Public Limited” to “Private Limited” - in the absence of any objections from the ROC or creditors, conversion allowed.

  • Service Tax:

    Penalty u/s 77(2) & 78 of the Finance Act, 1994 - The issue is a bonafide dispute of legal interpretation of the newly introduced provision coupled with transaction concerning availment of such services has been reflected in ST-I monthly return, no malafide can be attributed to the assessee to call for imposition of penalty of any kind - penalty set aside.

  • Service Tax:

    Department having accepted the declaration in terms of VCES and having issued acknowledgement of discharge, cannot seek to recover or deny CENVAT Credit, which would amount to double taxation.

  • Service Tax:

    Liability of service tax - Amounts received towards reimbursement of income tax and VAT paid including the TDS paid by the appellant and reimbursed by the Indian Navy - These are in the nature of reimbursable expenses, not liable to service tax.

  • Service Tax:

    Demand of Service Tax - brokerage and Commission income received from the shipping lines - sale and purchase of freight space - assessee cannot be held as engaged in promoting or marketing the services of any ‘client’

  • Central Excise:

    Clandestine removal - in the absence of expert opinion by examiner of electronic evidence the allegations that the computer was capable of repeatedly generating invoices with the same number is not established beyond doubt.

  • Central Excise:

    SSI Exemption - valuation - the clearances to merchant exporters, which itself is not disputed, is to be excluded from the computation of total clearances

  • Central Excise:

    100% EOU - levy of excise duty - there is no doubt that the said plastic drums are durable and re-useable, therefore the clearance of such empty drum liable for payment of duty

  • Central Excise:

    Classification of goods - coated paper of three varieties i.e. Coated Front, Coated Back and Coated front and back sides - CETH 4809 is a more specific entry for the product in question.

  • Central Excise:

    Clandestine removal - case of Revenue is that the assessee has set up a factory in Arunachal Pradesh, but has not bothered to take registration from jurisdictional Central Excise Authorities - once the conditions of notifications / formalities not complied with, benefit of area based exemption cannot be allowed.


Articles


Notifications


Circulars / Instructions / Orders


News


Case Laws:

  • GST

  • 2018 (11) TMI 1075
  • 2018 (11) TMI 1073
  • 2018 (11) TMI 1076
  • 2018 (11) TMI 1074
  • Income Tax

  • 2018 (11) TMI 1054
  • 2018 (11) TMI 1053
  • 2018 (11) TMI 1072
  • 2018 (11) TMI 1071
  • 2018 (11) TMI 1070
  • 2018 (11) TMI 1069
  • 2018 (11) TMI 1052
  • 2018 (11) TMI 1068
  • 2018 (11) TMI 1067
  • 2018 (11) TMI 1066
  • 2018 (11) TMI 1065
  • 2018 (11) TMI 1064
  • 2018 (11) TMI 1063
  • 2018 (11) TMI 1062
  • 2018 (11) TMI 1051
  • 2018 (11) TMI 1050
  • 2018 (11) TMI 1049
  • 2018 (11) TMI 1060
  • 2018 (11) TMI 1059
  • 2018 (11) TMI 1058
  • 2018 (11) TMI 1057
  • 2018 (11) TMI 1061
  • 2018 (11) TMI 1056
  • 2018 (11) TMI 1055
  • Corporate Laws

  • 2018 (11) TMI 1043
  • 2018 (11) TMI 1044
  • Insolvency & Bankruptcy

  • 2018 (11) TMI 1046
  • 2018 (11) TMI 1045
  • 2018 (11) TMI 1047
  • Service Tax

  • 2018 (11) TMI 1041
  • 2018 (11) TMI 1024
  • 2018 (11) TMI 1023
  • 2018 (11) TMI 1022
  • 2018 (11) TMI 1040
  • 2018 (11) TMI 1039
  • 2018 (11) TMI 1038
  • 2018 (11) TMI 1037
  • 2018 (11) TMI 1036
  • 2018 (11) TMI 1029
  • Central Excise

  • 2018 (11) TMI 1035
  • 2018 (11) TMI 1021
  • 2018 (11) TMI 1020
  • 2018 (11) TMI 1019
  • 2018 (11) TMI 1018
  • 2018 (11) TMI 1017
  • 2018 (11) TMI 1034
  • 2018 (11) TMI 1033
  • 2018 (11) TMI 1032
  • 2018 (11) TMI 1031
  • 2018 (11) TMI 1030
  • 2018 (11) TMI 1016
  • 2018 (11) TMI 1015
  • 2018 (11) TMI 1028
  • 2018 (11) TMI 1027
  • CST, VAT & Sales Tax

  • 2018 (11) TMI 1026
  • Wealth tax

  • 2018 (11) TMI 1025
  • Indian Laws

  • 2018 (11) TMI 1042
 

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