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Tax Updates - TMI e-Newsletters

Home e-Newsletters Index Year 2018 May Day 31 - Thursday

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TMI Tax Updates - e-Newsletter
May 31, 2018

Case Laws in this Newsletter:

GST Income Tax Customs Service Tax Central Excise CST, VAT & Sales Tax



TMI SMS


Highlights / Catch Notes

  • GST:

    Special Refund Fortnight from 31.05.2018 to 14.06.2018

  • GST:

    Clarifications on refund related issues – order to clarify these issues and with a view to ensure uniformity in the implementation of the provisions of the law across the field formations, CBIC issues clarification on various queries.

  • GST:

    Levy of GST on rent payable by a Hospital, catering life saving services - GST is leviable on the rent paid / payable for premises, taken on lease by the applicant. - AAR

  • GST:

    Classification of supply - supply of goods along-with supply of services - Composite Supply u/s 2(30) of the GST Act - supplies as that of the applicant’s should be construed as specifically mentioned under the GST Act as Composite Supply with supply of goods as the principal supply and services like transportation, in-transit insurance etc ancillary or incidental to the principal supply.

  • Income Tax:

    Defective return - filing of belated return to seek refund - The returns filed by the assessee was wrongly declared by the Income tax Department as invalid return u/s 139(9) - since the time having been lapsed for scrutinizing the returns, HC directed the AO to scrutinize the returns - HC

  • Income Tax:

    Revision u/s 263 - Special audit can be called for only with the prior approval of the concerned authority. It is certainly not an option or a choice which an assessee can exercise or insist upon. The Commissioner of Income Tax therefore gave undue importance to the assessee requesting for such special audit - We wonder what would the CIT have done had the assessee not made such request - HC

  • Income Tax:

    Application of income of the Trust u/s 11 - Carry forward and set off of losses - if commercial principles are applied then adjustment of expenses incurred by the Trust in the earlier years against the income earned by the Trust in the subsequent year will have to be regarded as application of income of the Trust u/s 11 - AT

  • Income Tax:

    Depreciation at higher rate on rolls @ 80% - calculation of WDV - As per section 43(6)(b), the WDV in case of assets acquired before the previous year is defined to mean the actual cost of the asset less all depreciation actually allowed to him - AT

  • Income Tax:

    Claim of deduction u/s 35 - expenditure incurred on in-house R&D facility - The expenditure that is sought to be excluded u/s.43(4)(ii) of the Act is an expenditure which the assessee incurs in acquiring rights in or arising out of scientific research already done by somebody.

  • Income Tax:

    Reopening of assessment - reopening is not permissible in the case of the assessee when the limitation was not available even on the date when the assessment order - AT

  • Income Tax:

    Deemed registration u/s 12AA - If an order granting or rejecting registration has not been passed within six months from the end of the month in which application under section 12A of the Act was made then registration is deemed to be granted to the assessee trust.- AT

  • Income Tax:

    Addition u/s 40A(2)(b) - unbalanced payment to doctors - payment to specified persons - No finding by the AO about as to what constitutes fair market price of the services rendered by the promoter directors - Remuneration of doctors must depend on their market worth, and determination of such market worth is uninfluenced by what other professionals in their area of expertise earn - AT

  • Income Tax:

    Software expense - revenue or capital expenditure - fast changing technology, software has to be regularly updated so as to keep pace with the changing technology - the expense does not add to or expands the profit making apparatus of the assessee - thus revenue in nature - HC

  • Income Tax:

    Penalty u/s 271(1)(c) - additional income filled in revised return - Everything depends upon the return of income filed, because return of income is the only document, where the assessee can furnish the particular of income - no Penalty - AT

  • Income Tax:

    TDS u/s 194H - payment to retailers by the Mobile operators through the distributor/dealers/retailers - contra entries passed in the books of accounts - AO cannot made addition by looking one side of the transaction and overlooking the other side of no actual receipt by the assessee

  • Customs:

    Clarification regarding legislative changes relating to Customs Act, 1962 and issuance of Bill of Entry (Electronic Integrated Declaration and Paperless Processing) Regulations, 2018

  • Customs:

    Sanction of pending IGST refund claims where the records have not been transmitted from the GSTN to DG Systems - CBIC prescribed the procedure to be followed.

  • DGFT:

    Guidelines for filing/processing of MEIS applications in case of Project Exports.

  • Service Tax:

    Applicability of service tax on ambulance services provided to government by private service providers under the National Health Mission (NHM)

  • Service Tax:

    Valuation - interest free security deposit - the amounts cannot be included in the consideration as long as the same remains interest free advance to be returned to tenant at a subsequent date - AT

  • Service Tax:

    Interest on delayed refund - Refund of pre-deposit alongwith Interest - assessee shall be entitled to refund of the amount deposited alongwith interest at prescribed rate from the date of making such deposit to the date of refund in terms of Section 35FF of the CEA 1944 or Section 129EE of the CA 1962 - AT

  • Service Tax:

    Valuation - Maintenance or Repair Service - electricity charges recovered by the appellant as part of their maintenance charges - Reimbursement of amount towards electricity received from the Grid, not to be included - However, the amount charged towards electricity generated by them and supplied to the tenant is to be included - AT

  • Service Tax:

    Refund of unutilized CENVAT credit - relevant date for the purposes of deciding the time limit for consideration of refund claim under Rule 5 of CENVAT Credit Rules may be taken as the end of the quarter in which the FIRCs are received in cases where refund claims are filed on a quarterly basis - AT

  • Service Tax:

    Valuation - Cargo Handling Services - Inclusion of re-imbursable expenses into the value of consideration for payment of service tax not justified - AT

  • Service Tax:

    Classification of services - construction work - composite works contract - category of works contract services or CICS? - Any charge to tax under the five heads in Section 65(105) would only be of service contracts simpliciter and not composite indivisible works contracts. - AT

  • Service Tax:

    BAS - Helping the purchases of with the registration with the RTO cannot be considered as an activity under Business Auxiliary Service therefore, service tax cannot be demanded on the amount retained by the appellant in respect of RTO registration fee - AT

  • Central Excise:

    Recovery of Cenvat credit - goods seized and confiscated are imported goods thus the provision of the Rules 25/26 of CER not applicable to the sized imported consignment - Penalty removed

  • Central Excise:

    Reversal of CENVAT credit - manufacturing of exempted goods (cleared on payment of duty) - as the assessee was not seeking refund of duty and there was no need to reverse the credit of duty - AT

  • Central Excise:

    Refund of pre-deposit - period of limitation - limitation period would start not from the date of deposit but from the date of the decision by Commissioner (Appeals) - AT

  • Central Excise:

    Clandestine removal - allegations based on inquiries made in the third party’s documents of Commission Agent and transporters cannot lead to the fact of clandestine activities. - AT

  • Central Excise:

    Valuation - inclusion of subsidy in assessable value - no justification for inclusion in the assessable value, the VAT amounts paid by the assessee using VAT 37B Challans - AT

  • Central Excise:

    Reversal of Cenvat Credit - electricity generated from by-products, i.e. bagass - neither excisable under Section 2 (b) of the Central Excise Act, nor exempted goods. Hence, Rule 6 is not applicable. - AT

  • Central Excise:

    Benefit of exemption - scope of the term "site" - supply of PSC Slippers for Western Dedicated Freight Corridor (WDFC) Project - the expression “site” cannot be given a restrictive manner.

  • Central Excise:

    Suo moto re-credit amount in PLA instead of claiming refund - refund is governed by Section 11B - Even in the case of suo moto re-credit though in principle, the appellant is entitled but subject to test of unjust enrichment. - AT

  • Central Excise:

    Principles of Natural Justice - tribunal merely reproduces the order-in-original, without specifically and independently examining and dealing with diverse contentions - The impugned order suffers on this account - matter restored before the tribunal - HC

  • Central Excise:

    Penalty u/s 11AC - entire payment of disputed tax was paid by the appellant on or before passing of the order-in-original - Payment of duty, whether made before or after issuing of SCN, is not determinative and a relevant factor for deciding whether or not penalty should be imposed under Section 11AC of the Excise Act - HC

  • VAT:

    Suo motu revision of original assessment order - Chhattisgarh VAT - time limitation - limitation has to be calculated from the date of assessment and not from the date of reassessment order - HC


Notifications


Circulars / Instructions / Orders


News


Case Laws:

  • GST

  • 2018 (5) TMI 1701
  • 2018 (5) TMI 1703
  • 2018 (5) TMI 1702
  • 2018 (5) TMI 1704
  • Income Tax

  • 2018 (5) TMI 1697
  • 2018 (5) TMI 1696
  • 2018 (5) TMI 1695
  • 2018 (5) TMI 1694
  • 2018 (5) TMI 1693
  • 2018 (5) TMI 1692
  • 2018 (5) TMI 1691
  • 2018 (5) TMI 1690
  • 2018 (5) TMI 1689
  • 2018 (5) TMI 1688
  • 2018 (5) TMI 1687
  • 2018 (5) TMI 1686
  • 2018 (5) TMI 1685
  • 2018 (5) TMI 1700
  • 2018 (5) TMI 1684
  • 2018 (5) TMI 1683
  • 2018 (5) TMI 1699
  • 2018 (5) TMI 1698
  • Customs

  • 2018 (5) TMI 1682
  • 2018 (5) TMI 1681
  • 2018 (5) TMI 1680
  • Service Tax

  • 2018 (5) TMI 1679
  • 2018 (5) TMI 1678
  • 2018 (5) TMI 1677
  • 2018 (5) TMI 1676
  • 2018 (5) TMI 1675
  • 2018 (5) TMI 1674
  • 2018 (5) TMI 1673
  • 2018 (5) TMI 1672
  • 2018 (5) TMI 1671
  • Central Excise

  • 2018 (5) TMI 1668
  • 2018 (5) TMI 1667
  • 2018 (5) TMI 1666
  • 2018 (5) TMI 1665
  • 2018 (5) TMI 1664
  • 2018 (5) TMI 1670
  • 2018 (5) TMI 1663
  • 2018 (5) TMI 1662
  • 2018 (5) TMI 1661
  • 2018 (5) TMI 1669
  • 2018 (5) TMI 1660
  • 2018 (5) TMI 1659
  • 2018 (5) TMI 1658
  • 2018 (5) TMI 1657
  • 2018 (5) TMI 1656
  • 2018 (5) TMI 1655
  • 2018 (5) TMI 1654
  • CST, VAT & Sales Tax

  • 2018 (5) TMI 1653
  • 2018 (5) TMI 1652
 

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