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Home Newsletters Index Year 2018 February Day 8 - Thursday
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TMI Updates - Newsletter dated: February 8, 2018

TMI SMS


Highlights

  1. Income Tax : Disallowance of the legal and professional expenses - assessee claimed that said amount has been paid to the Government account as TDS, and therefore it is a business expenditure allowable to the assessee - assessee failed to substantiate its claim - no deduction - Tri

  2. Income Tax : Penalty u/s 271(1)(c) - willful evasion of tax by claiming deprecation on building - This is a bonafide mistake made by the assessee without any intention to evade tax. - no penalty - Tri

  3. Customs : BCD tariff rate on import of Chana (Chickpeas), [Tariff item 0713 20 0] increased from 30% to 40% by invoking section 8A (1) of the Customs Tariff Act, 1975 and accordingly, the effective rate of BCD on Chana (Chickpeas), will also be 40%

  4. Customs : Import duty increased on all types of sugar under tariff head 1701, [Raw sugar, Refined or White sugar, Raw sugar if imported by bulk consumer] from the present 50% to 100% (Tariff rate) with immediate effect and without an end date.

  5. Customs : Extending eSANCHIT application on all EDI locations - Order-Instruction

  6. Insolvency and Bankruptcy : Approval of resolution plan - Amendments in the Regulation 39 of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process For Corporate Persons) Regulations, 2016

  7. Insolvency and Bankruptcy : Resolution plan. - Amendments in the Regulation 37 of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process For Corporate Persons) Regulations, 2016

  8. Insolvency and Bankruptcy : Invitation of Resolution Plans - Insertion of New Regulation 36A to the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process For Corporate Persons) Regulations, 2016

  9. Insolvency and Bankruptcy : Information memorandum. - Amendments in the Regulation 36 of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process For Corporate Persons) Regulations, 2016

  10. Insolvency and Bankruptcy : Manner of determining Fair value and Liquidation value. - Amended regulation 35 of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process For Corporate Persons) Regulations, 2016

  11. Insolvency and Bankruptcy : Who can be appointment as registered valuers - Amended Regulation 27 of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process For Corporate Persons) Regulations, 2016

  12. Insolvency and Bankruptcy : Definitions - Amendments in the Regulation 2 of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process For Corporate Persons) Regulations, 2016

  13. RBI : Relief for MSME Borrowers registered under Goods and Services Tax (GST) - Circular

  14. Service Tax : Refund claim - Due to ignorance of law, the appellant had paid service tax on Inward Legal Services rendered by the advocates for the period March 2012 to March 2013 under reverse charge mechanism - refund allowed - Tri

  15. Service Tax : Refund claim - appellant has paid the service tax as an advance as he was under the impression that service tax is payable on the Export of Services rendered by him - period of limitation is not applicable - Tri

  16. Service Tax : BAS - Department took the view that the assessee were paying service tax under Business Auxiliary Service only on the commission amount without considering the incentive amount - mere sale and purchase of cargo space and earning profit in the process is not a taxable activity - demand set aside - Tri

  17. Service Tax : Supply of manpower to job-worker - the assessee has been utilizing his own labour for packing activities. Viewed in this light, we are not able to appreciate how tax can be levied on the assessee for utilizing his own labour - tax liability do not sustain - Tri

  18. Service Tax : BAS - Logistic Support Services - It appeared to the Department that appellants are providing the services on behalf of overseas logistics company appointed by the overseas buyer and hence service tax liability would arise under the heading of Business Auxiliary Services - Revenue failed to prove its case - demand set aside - Tri

  19. Central Excise : Penalty u/r 27 of CER 2002 - Delay in submitting ARE-1 Applications against export of goods - contravention of Rule 19 of CER 2002 - The delay caused is nothing but procedural irregularity - no penalty - Tri

  20. Central Excise : CENVAT credit - air conditioners, which is installed in the Control Panel room of the factory - admittedly the goods have been used in the factory of production - Credit allowed - Tri

  21. VAT and Sales Tax : Valuation - VAT - It must be remembered that taxable turnover is turnover net of deductions. All trade discounts are allowable as permissible deductions - SC


Articles


Notifications


Circulars / Instructions / Orders


News - Feeds


Case Laws:

More information of case laws are visible to the Subscriber of a package i.e:-
Party Name, Court Name, Date of Decision, Full Text of Headnote, Decision etc.


  1. 2018 (2) TMI 339

    In: Customs


  2. 2018 (2) TMI 337

    In: Customs


  3. 2018 (2) TMI 336

    In: Customs


  4. 2018 (2) TMI 338

    In: Customs


  5. 2018 (2) TMI 368

    In: Income Tax


  6. 2018 (2) TMI 350

    In: Income Tax


  7. 2018 (2) TMI 349

    In: Income Tax


  8. 2018 (2) TMI 348

    In: Income Tax


  9. 2018 (2) TMI 347

    In: Income Tax


  10. 2018 (2) TMI 346

    In: Income Tax


  11. 2018 (2) TMI 345

    In: Income Tax


  12. 2018 (2) TMI 344

    In: Income Tax


  13. 2018 (2) TMI 355

    In: Income Tax


  14. 2018 (2) TMI 354

    In: Income Tax


  15. 2018 (2) TMI 343

    In: Income Tax


  16. 2018 (2) TMI 353

    In: Income Tax


  17. 2018 (2) TMI 352

    In: Income Tax


  18. 2018 (2) TMI 342

    In: Income Tax


  19. 2018 (2) TMI 341

    In: Income Tax


  20. 2018 (2) TMI 351

    In: Income Tax


  21. 2018 (2) TMI 340

    In: Income Tax


  22. 2018 (2) TMI 333

    In: FEMA


  23. 2018 (2) TMI 335

    In: Corporate Laws


  24. 2018 (2) TMI 334

    In: Corporate Laws


  25. 2018 (2) TMI 310

    In: PMLA


  26. 2018 (2) TMI 331

    In: Service Tax


  27. 2018 (2) TMI 332

    In: Service Tax


  28. 2018 (2) TMI 330

    In: Service Tax


  29. 2018 (2) TMI 329

    In: Service Tax


  30. 2018 (2) TMI 328

    In: Service Tax


  31. 2018 (2) TMI 327

    In: Service Tax


  32. 2018 (2) TMI 326

    In: Service Tax


  33. 2018 (2) TMI 325

    In: Service Tax


  34. 2018 (2) TMI 324

    In: Service Tax


  35. 2018 (2) TMI 323

    In: Service Tax


  36. 2018 (2) TMI 322

    In: Service Tax


  37. 2018 (2) TMI 321

    In: Service Tax


  38. 2018 (2) TMI 320

    In: Service Tax


  39. 2018 (2) TMI 319

    In: Service Tax


  40. 2018 (2) TMI 318

    In: Service Tax


  41. 2018 (2) TMI 317

    In: Service Tax


  42. 2018 (2) TMI 367

    In: Central Excise


  43. 2018 (2) TMI 366

    In: Central Excise


  44. 2018 (2) TMI 365

    In: Central Excise


  45. 2018 (2) TMI 364

    In: Central Excise


  46. 2018 (2) TMI 363

    In: Central Excise


  47. 2018 (2) TMI 362

    In: Central Excise


  48. 2018 (2) TMI 361

    In: Central Excise


  49. 2018 (2) TMI 360

    In: Central Excise


  50. 2018 (2) TMI 359

    In: Central Excise


  51. 2018 (2) TMI 358

    In: Central Excise


  52. 2018 (2) TMI 357

    In: Central Excise


  53. 2018 (2) TMI 316

    In: Central Excise


  54. 2018 (2) TMI 315

    In: Central Excise


  55. 2018 (2) TMI 356

    In: Central Excise


  56. 2018 (2) TMI 314

    In: VAT and Sales Tax


  57. 2018 (2) TMI 313

    In: VAT and Sales Tax


  58. 2018 (2) TMI 312

    In: VAT and Sales Tax


  59. 2018 (2) TMI 311

    In: VAT and Sales Tax


 
 
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