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Home Newsletters Index Year 2018 Month 2 Day 13
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TMI Updates - Newsletter dated: February 13, 2018

Highlights

  1. Goods and Services Tax : Clarifications regarding GST in respect of certain services - TRU clarified 6 vital issues.

  2. Goods and Services Tax : Seizure of goods - Section 129(1) of the UP GST - Even if the seizure is treated to be under Section 129(1) of the Central G.S.T., as there was no provision of E-Way bill on the relevant date under the Central G.S.T. prima facie the seizure appears to be illegal. - HC

  3. Income Tax : Reopening of assessment - Validity of reasons to believe - reopening of the assessment cannot be held for a fishing or a roving inquiry or for verification of the records. - HC

  4. Income Tax : Nature of income - Though the assessee has financial service as an ancillary object to its main object, such activity is not the main business activity of the assessee - AO was right in treating interest income under the head ‘Income from other sources’ - Tri

  5. Customs : Misdeclaration - Import of restricted item - When the goods are allowed for re-export, there should not be any redemption fine because redemption fine is for enjoyment of the goods in the manner of home consumption even when a law is violated. - Tri

  6. Customs : Absolute confiscation - import of one consignment of ‘off the road tyres’ and ‘run flat tyres’ - the appellant is willing to put the symbol on tyres before clearance - If symbol is put on tyres, the registration with BIS is not required, in that circumstances, the goods can not be confiscated. - Tri

  7. Central Excise : CENVAT credit - Compensation received by the appellant for supplying inferior quality of ink - The compensation is a regular activity and this was an income of the appellant which was to be added to the value of the goods - credit to be reversed - Tri


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Case Laws:

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  1. 2018 (2) TMI 667


  2. 2018 (2) TMI 668


  3. 2018 (2) TMI 669


  4. 2018 (2) TMI 670


  5. 2018 (2) TMI 675


  6. 2018 (2) TMI 676


  7. 2018 (2) TMI 677


  8. 2018 (2) TMI 666


  9. 2018 (2) TMI 674


  10. 2018 (2) TMI 672


  11. 2018 (2) TMI 673


  12. 2018 (2) TMI 665


  13. 2018 (2) TMI 671


  14. 2018 (2) TMI 664


  15. 2018 (2) TMI 663


  16. 2018 (2) TMI 662


  17. 2018 (2) TMI 661


  18. 2018 (2) TMI 659


  19. 2018 (2) TMI 660


  20. 2018 (2) TMI 658


  21. 2018 (2) TMI 657


  22. 2018 (2) TMI 656


  23. 2018 (2) TMI 655


  24. 2018 (2) TMI 653


  25. 2018 (2) TMI 654


  26. 2018 (2) TMI 652


  27. 2018 (2) TMI 651


  28. 2018 (2) TMI 650


  29. 2018 (2) TMI 649


  30. 2018 (2) TMI 648


  31. 2018 (2) TMI 647


  32. 2018 (2) TMI 646


  33. 2018 (2) TMI 645


  34. 2018 (2) TMI 621


  35. 2018 (2) TMI 622


  36. 2018 (2) TMI 620


  37. 2018 (2) TMI 618


  38. 2018 (2) TMI 619


  39. 2018 (2) TMI 617


  40. 2018 (2) TMI 616


  41. 2018 (2) TMI 613


  42. 2018 (2) TMI 614


  43. 2018 (2) TMI 615


  44. 2018 (2) TMI 612


  45. 2018 (2) TMI 611


  46. 2018 (2) TMI 610


  47. 2018 (2) TMI 609


 
 
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