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Home e-Newsletters Index Year 2019 March Day 18 - Monday

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TMI Tax Updates - e-Newsletter
March 18, 2019

Case Laws in this Newsletter:

GST Income Tax Customs Securities / SEBI Insolvency & Bankruptcy FEMA PMLA Service Tax Central Excise CST, VAT & Sales Tax Indian Laws



TMI SMS


Highlights / Catch Notes

  • GST:

    GST on Second hand goods - used lead acid batteries qualify to be second hand goods - Applicant dealer is entitled to operate under Margin Scheme under Rule 32(5) of the Central Goods and Service Tax Rules, 2017 - Equally applicable to inter-state supplies.

  • GST:

    Classification of goods - rate of GST - The said products i.e. ‘Sight Vision Equipment’, manufactured and repaired by the applicant for exclusive use in various types of Armoured Tanks, will be classified under HSN code 9013 - Rate of GST is 18%

  • GST:

    Classification of goods - Interlining Fabrics - the specimen fabric is a ‘Polyester Viscose fusing Interlining Woven Fabric, partially covered with plastic which leads to plastic coated pattern that is visible on one side of the fabric and the same will fall under chapter 50 to 55, 58 or 60 of the GST Tariff - it does not fall under HSN Code 5903

  • GST:

    Works contract or not - supply of solar rooftop power plant along with design, erection, commissioning & installation - the supplies under consideration are out of the ambit of “work contract” service in as much as the question of immovable property does not arise.

  • GST:

    The supply of goods along with design, erection, commissioning & installation of the same while supply of “solar rooftop power plant and solar irrigation water pumping systems” shall be treated as ‘composite supply’ and the 70% of the gross value shall be the value of supply of said goods attracting 5% GST rate.

  • GST:

    Classification of goods - rate of GST - The 'Poly Propylene Leno Bags' is classified under HS Code 3923 of the Customs Tariff and, as per relevant chapter note of GST tariff, the tax is leviable @ 18% on supply of the subject goods i.e. 'Poly Propylene Leno Bags'

  • GST:

    Levy of GST - Supply or not? - naturally bundled services - the ruling of the original authority that the placement of the specified medical instruments in the instant case constitutes a composite supply is legally correct and proper.

  • GST:

    Classification of goods - rate of tax - Wet Baby Wipes - Wet Face Wipes - Bed and Bath Towels - Shampoo Towels - the same would fall under HS code 3307 and if they are coated with soap or detergent, then it would fall under HS code 3401

  • GST:

    Classification of goods - the watches in the design of butterfly with a ring, bracelet, bangle, necklace, ring etc. supplied by the applicant are covered under heading 9101.

  • Income Tax:

    Disallowance of obsolete store and spares - AO, treat the same as capital expenditure and did not constitute stock-in-trade and deduction u/s 42 could be allowed to the assessee for capital expenditure as and when the same are certified by the Auditors - it can't be treated as capital expenditure for the assessee.

  • Income Tax:

    TDS u/s 194C or 194J - A person who is engaged in production of reality show cannot be equated with a person engaged in the production of cinematograph film, it would fall u/s 194C.

  • Income Tax:

    Penalty proceedings initiated u/s 271AAB - penalty imposed u/s 271(1)(c) - imposition of penalty should be based on initiation & notice issued under that section, penalty imposed based on different section not permissible.

  • Income Tax:

    Reopening of assessment - respondent (revenue) seeks to sit in appeal over the opinion expressed by his predecessor, and, therefore, the assumption of jurisdiction on the part of the AO u/s 147, which is based on a mere change of opinion, is invalid.

  • Income Tax:

    Reopening of assessment - AO seeks to reopen the assessment in respect of income involving a matter which was subject matter of appeal before the CIT (A). The reopening of assessment by the impugned notice u/s 148 is, therefore, hit by the third proviso to section 147 and is not permissible in law.

  • Income Tax:

    Reopening of assessment - Reason to belief - Addition u/s 69 was made in assessment u/s 143(3) r.w.s 153A - if such income has already been assessed then the AO could not have formed the belief that income chargeable to tax has escaped assessment, The assumption of jurisdiction u/s 147 of the Act on the part of the AO therefore, lacks validity and hence, cannot be sustained.

  • Income Tax:

    Revision u/s 263 - Exclusion of securitization income allowed by AO without revised return based on fact that it was spared over on succeeding years - both the pre-requisite requirements for invoking revisional powers under Section 263 were not satisfied namely, an error and a prejudice caused to the Revenue.

  • Income Tax:

    Maintainability of Appeal before CIT(A) - non enclosure of payment of necessary court fees - CIT (A) to give the assessee an adequate opportunity to bring on record receipts for making the payment of appeal fee - not given adequate opportunity of being heard to the assessee violated the principles of natural justice

  • Income Tax:

    Deduction claimed u/s 54 - There being no pre–condition u/s 54(1) providing for investment of the long term capital gain in purchase of new house for claiming deduction u/s 54 - If other or borrowed fund is used then also deduction is allowable as investment is more than capital gain.

  • Income Tax:

    Bogus purchases - sales has been accepted then the corresponding purchases is required to be deducted for the purpose of arriving at profit - under the Income tax Act, the profit earned from the business transactions is alone taxable - CIT(A) to tax only 12.50% of purchases is upheld

  • Income Tax:

    Rectification of mistake u/s. 254(2) - Scope of tribunal in rectification - review of the order passed by the Tribunal in the guise of rectification which is not permissible u/s. 254(2)

  • FEMA:

    Offence under FEMA - transaction in foreign exchange - the Varanasi branch was not authorised for such dealings but nevertheless they undertook the same. - Liability of penalty confirmed.

  • Service Tax:

    Obtaining high-tension electric supply converting it to low-tension supply, and supplying it to the occupants, raising bills on such occupants and realizing the electricity consumption charges from such occupants, is a service which the petitioner renders and such an activity is exigible to Service Tax under the Finance Act, 1994.

  • Service Tax:

    CENVAT credit of central excise duty paid on inputs capital goods and input services in respect of hotel (Novotel) construction - the said hotel is not a part of the airport. - Credit not allowed.

  • Service Tax:

    CENVAT Credit - Volvo chassis - chassis used for operation and maintenance of fuel farm - appellant is not entitled to avail CENVAT credit of the central excise duty paid on Volvo chassis.

  • Service Tax:

    CENVAT Credit - Erection, commissioning and installation services - benefit of abatement - merely relying upon ST-3 Return for holding the non-compliance of the condition was not justified on the part of the adjudicating authority.

  • Service Tax:

    Refund of service tax paid - unjust enrichment - This certificate by Chartered Accountant is comprehensive as to how he has arrived at the conclusion that the amount shown as service tax receivable in the books of accounts of the respondent as receivables included the disputed amount - CA certificate cannot be rejected - Refund allowed.

  • Service Tax:

    Levy of service tax - reimbursement of costs - the appellant was fully liable to pay service tax on the pilotage charges which they received from their customers under the head “Port Services”, under section 65(105)(zzl) of Finance Act, 1994

  • Central Excise:

    Classification of goods - Sweet meat Cereal Bars - both types of cereal bars i.e those product not containing cocoa as well those containing cocoa would classification under 21069099 as Sweet Meat and are eligible for exemption

  • Central Excise:

    Rejection of Refund claim - The observation appears to be arbitrary as nothing is forthcoming from his order as to why he disbelieved those documentary evidence or rejected those as insufficient. In a judicial proceeding, order has to be a reasoned one based on judicial analysis where whim and caprice have got no role to play.

  • Central Excise:

    Classification of goods - Scented Betel Nut 'Nizam Pakkku' - The classification of the product cannot be dragged into Chapter 21 of CETA and, in particular, sought to be classified under CETH 21069030 as betel nut product known as suprai.

  • Central Excise:

    CENVAT Credit - appellants cannot be expected to go behind the accounts maintained or transactions made by the first stage dealer so as to ensure whether the credit availed is correct or not

  • Central Excise:

    CENVAT Credit - partial/ full writing off of inputs - Rule 3(5B) of Cenvat Credit Rules, 2004 - The issue has arisen due to change of opinion on the part of the Revenue, but there is no suppression of facts on the part of the appellants - demand set aside.


Articles


Notifications


Case Laws:

  • GST

  • 2019 (3) TMI 830
  • 2019 (3) TMI 841
  • 2019 (3) TMI 840
  • 2019 (3) TMI 839
  • 2019 (3) TMI 838
  • 2019 (3) TMI 837
  • 2019 (3) TMI 836
  • 2019 (3) TMI 835
  • 2019 (3) TMI 834
  • 2019 (3) TMI 833
  • 2019 (3) TMI 832
  • 2019 (3) TMI 831
  • Income Tax

  • 2019 (3) TMI 810
  • 2019 (3) TMI 809
  • 2019 (3) TMI 808
  • 2019 (3) TMI 807
  • 2019 (3) TMI 806
  • 2019 (3) TMI 805
  • 2019 (3) TMI 804
  • 2019 (3) TMI 803
  • 2019 (3) TMI 802
  • 2019 (3) TMI 801
  • 2019 (3) TMI 800
  • 2019 (3) TMI 799
  • 2019 (3) TMI 798
  • 2019 (3) TMI 797
  • 2019 (3) TMI 796
  • 2019 (3) TMI 813
  • 2019 (3) TMI 795
  • 2019 (3) TMI 812
  • 2019 (3) TMI 811
  • 2019 (3) TMI 794
  • 2019 (3) TMI 793
  • 2019 (3) TMI 792
  • Customs

  • 2019 (3) TMI 829
  • Securities / SEBI

  • 2019 (3) TMI 828
  • Insolvency & Bankruptcy

  • 2019 (3) TMI 826
  • 2019 (3) TMI 825
  • FEMA

  • 2019 (3) TMI 824
  • 2019 (3) TMI 823
  • PMLA

  • 2019 (3) TMI 822
  • Service Tax

  • 2019 (3) TMI 820
  • 2019 (3) TMI 819
  • 2019 (3) TMI 818
  • 2019 (3) TMI 821
  • 2019 (3) TMI 817
  • 2019 (3) TMI 816
  • 2019 (3) TMI 815
  • 2019 (3) TMI 814
  • Central Excise

  • 2019 (3) TMI 790
  • 2019 (3) TMI 789
  • 2019 (3) TMI 788
  • 2019 (3) TMI 787
  • 2019 (3) TMI 786
  • 2019 (3) TMI 785
  • 2019 (3) TMI 784
  • 2019 (3) TMI 783
  • 2019 (3) TMI 782
  • 2019 (3) TMI 781
  • 2019 (3) TMI 780
  • 2019 (3) TMI 779
  • 2019 (3) TMI 791
  • 2019 (3) TMI 778
  • 2019 (3) TMI 777
  • 2019 (3) TMI 776
  • 2019 (3) TMI 775
  • CST, VAT & Sales Tax

  • 2019 (3) TMI 774
  • 2019 (3) TMI 773
  • 2019 (3) TMI 772
  • 2019 (3) TMI 771
  • 2019 (3) TMI 770
  • Indian Laws

  • 2019 (3) TMI 769
 

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