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Home e-Newsletters Index Year 2021 March Day 18 - Thursday

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TMI Tax Updates - e-Newsletter
March 18, 2021

Case Laws in this Newsletter:

GST Income Tax Customs Corporate Laws Insolvency & Bankruptcy Service Tax Central Excise CST, VAT & Sales Tax



Highlights / Catch Notes

    GST

  • Classification of services - Leasing - Royalty - exploration of natural resources - This activity of payment of lease charge/ dead rent/ royalty is towards the supply of service i.e. Licensing service for the right to use minerals including exploration and evolution, wherein the Government of Uttar Pradesh is supplier and the applicant is recipient. The liability of payment of GST liability on the amount of royalty paid to the Government is on the Service recipient i.e. the applicant in the instant case - AAR

  • Levy of penalty - In the present case, the course adopted by the appeal authority leaves a lot to be desired. The appeal authority appears to have only considered and offered reasons to accept the alternate plea made by the petitioner but it has not made any application of mind to the main plea that there was no infraction of law and the penalty provisions were not attracted. - HC

  • Seeking to revise/correct/file afresh declaration in GST Form TRAN-1 to enable it to claim transitional credit of eligible duties - This Court grants liberty to the petitioner to make an application before GST Council (through Standing Counsel, who is further requested to hand over the same to the jurisdictional officer) for forwarding the same to the GST Council to issue requisite certificate of recommendation alongwith requisite particulars, evidence and a certified copy of the order instantly and such decision be taken forthwith and if the petitioner's assertion is found to be correct, the GST Council shall issue necessary recommendation to the Commissioner to enable the petitioner to get the benefit of CENVAT credit - HC

  • Income Tax

  • Late fee levied u/s 234E - delay in furnishing the tax deducted at source statement - the amendment to section 200A of the Act came into effect from 01/06/2015 and is held to be prospective in nature and therefore no computation of fee for the demand or intimation for fee under section 234 E could be made for late deposit of TDS for the assessment years prior to 01/06/2015. - HC

  • Penalty levied under 271(1)(c) - The revenue has tried to make out a case that since the addition was made pursuant to information from sales tax department, this penalty appeal falls in the exception carved out in the CBDT circular regarding appeals arising out of additions made pursuant to information from outside agencies. We are of the opinion that this plea is not tenable inasmuch as once revenue accepts that penalty is levied on outside agency information the penalty levied will have no legs to stand. - AT

  • Disallowance of carry forward of business/unabsorbed depreciation in absence of evidences - when the issue is already pending before the learned Assessing Officer for rectification, it is not appropriate for her to decide on that issue in appellate proceedings. - AT

  • IBC

  • Condonation of delay of 193 days in filing appeal - The ‘time spent’ in prosecuting the legal remedy by the Petitioner/Appellant/Bank is required to be excluded while computing the period of limitation as envisaged under section 61(2) of the ‘Insolvency & Bankruptcy Code, 2016 - this ‘Tribunal’ by adopting a practical, purposeful, meaningful, a rational approach and by taking a pragmatic view of the matter in a lenient and liberal manner condones the delay of 193 days in furtherance of substantial cause of justice. - AT

  • Service Tax

  • Valuation - inclusion in taxable services or not - expense incurred by the agents, namely, travel, conveyance and vehicle running expenses, training expenses, printing and stationary, and business development/marketing and sales promotion expenses - confirmation of demand by the adjudicating authority by including the reimbursable expenses in the gross taxable value cannot be sustained. - AT

  • CENVAT credit - input services - It is immaterial that where is the location of the service was provided. It is important to see that irrespective of such services have been provided anywhere but it is for the purpose of the assessee and it is received by the assessee. If that test is qualified then it cannot be said that the service was not received by the assessee. Thus the appellant is entitled to Cenvat credit. - AT

  • Central Excise

  • Seeking appropriation of refund due to it in respect of one of its units against the demand in respect of its another unit - provisional assessment - the appellant had stated that before finalization of their balance-sheet and differential ED, they had made the following advance payments towards the expected differential duty - Permission granted - AT

  • VAT

  • Input Tax Credit - The learned Single Judge was justified in dismissing the writ petitions as the appellant was claiming input tax credit based upon Form VAT 240 and by no stretch of imagination Form VAT 240 can be treated as a returns for the purposes of claiming input tax credit, especially in the light of the fact that filing of returns to compute the net tax liability has to take place keeping in view Section 10(3) and 10(4) of the KVAT Act. - HC


Articles


Notifications


Circulars / Instructions / Orders


News


Case Laws:

  • GST

  • 2021 (3) TMI 643
  • 2021 (3) TMI 641
  • 2021 (3) TMI 640
  • 2021 (3) TMI 639
  • 2021 (3) TMI 638
  • Income Tax

  • 2021 (3) TMI 642
  • 2021 (3) TMI 636
  • 2021 (3) TMI 634
  • 2021 (3) TMI 632
  • 2021 (3) TMI 624
  • 2021 (3) TMI 623
  • 2021 (3) TMI 622
  • 2021 (3) TMI 621
  • 2021 (3) TMI 620
  • 2021 (3) TMI 619
  • 2021 (3) TMI 617
  • 2021 (3) TMI 616
  • Customs

  • 2021 (3) TMI 637
  • Corporate Laws

  • 2021 (3) TMI 618
  • Insolvency & Bankruptcy

  • 2021 (3) TMI 633
  • 2021 (3) TMI 631
  • 2021 (3) TMI 629
  • 2021 (3) TMI 628
  • 2021 (3) TMI 626
  • Service Tax

  • 2021 (3) TMI 630
  • 2021 (3) TMI 615
  • 2021 (3) TMI 614
  • Central Excise

  • 2021 (3) TMI 627
  • 2021 (3) TMI 625
  • CST, VAT & Sales Tax

  • 2021 (3) TMI 635
 

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