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Home e-Newsletters Index Year 2019 June Day 29 - Saturday

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TMI Tax Updates - e-Newsletter
June 29, 2019

Case Laws in this Newsletter:

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



TMI SMS


Highlights / Catch Notes

  • GST:

    Levy of GST on supply - renting of residential house to commercial concern - irrespective of whether they are let out to individuals or a commercial entity. The Applicant’s service of renting/leasing out the dwelling units for residential purpose is, therefore, exempt under SI No. 12 of the Exemption Notification.

  • GST:

    Exemption from GST - pure service - activity to improves the navigability of the riverbed and channels - an activity toward development of irrigation and waterways. It is an activity in relation to the function listed under Sl No. 5 of the Eleventh Schedule, as entrusted to a Panchayat under Article 243G of the Constitution of India.

  • GST:

    Central Goods and Services Tax (Sixth Removal of Difficulties) Order, 2019

  • GST:

    Seeks to extend the due date for furnishing the declaration FORM GST ITC-04

  • GST:

    Central Goods and Services Tax (Fourth Amendment) Rules, 2019.

  • GST:

    Seeks to provide exemption from furnishing of Annual Return / Reconciliation Statement for suppliers of Online Information Database Access and Retrieval Services(“OIDAR services”).

  • GST:

    Seeks to prescribe the due date for furnishing FORM GSTR-3B for the months of July, 2019 to September,2019.

  • GST:

    Seeks to extend the due date for furnishing FORM GSTR-1 for registered persons having aggregate turnover of more than 1.5 crore rupees for the months of July, 2019 to September,2019

  • GST:

    Seeks to prescribe the due date for furnishing FORM GSTR-1 for registered persons having aggregate turnover of up to 1.5 crore rupees for the months of July, 2019 to September,2019.

  • GST:

    Seeks to extend the due date of filing returns in FORM GSTR-7

  • GST:

    ITC of GST paid - expenses incurred towards promotional schemes(Shubh Labh trade loyalty program) or goods given as brand reminders - promotional products/ services to be distributed and are not inputs and hence, GST paid on such a purchase does not qualify to be an input tax for the purpose of Section 16(1) r.w.s. 2(62) of the CGST Act - if same are non-taxable u/s 9 r.w.s. 2(78) and treated as exempt supply u/s 2(47) then credit is not allowable u/s 17(2)

  • GST:

    Exemption from GST - vocational education courses in respect of the Informal Trades like Tailoring, Offset Printing, Electrician and Wiring etc. which are non-recognized courses, are not exempted under Sr.No. 66 of Notification No. 12/2017 CT (Rate) dated 28.06.2019

  • GST:

    Exemption from GST - the vocational education courses pertaining to (i) Diesel Mechanic, (ii) Computer Operator and Programming Assistance (COPA), (iii) Welder and (iv) Motor Mechanic are carried out by the applicant who are affiliated to the NCVT will attract NIL rate of tax

  • GST:

    Place of Supply of Services - Clinical Research services - outside India or not - applicant receives goods in India and the testing process is also carried out in India - since goods are physically made available by their sponsors in India, the place of supply of services is in India as per Section 13(3)(a) of the IGST Act - Since the place of supply is in taxable territory, same cannot be considered as Export of Services

  • GST:

    Classification of services - rate of tax - applicant leases out diesel-hydraulic shunting locomotive inter alia to M/s. Damodar Valley Corporation, Andal claimed taxable @ 5% - The Applicant’s service to the DVC, as as per their work order is classifiable as ‘railway pushing and towing service’ (SAC 996731) and taxable @ 18%

  • Income Tax:

    Penalty u/s 271(1)(c) - disallowance of interest u/s 43B - assessee has made sufficient disclosures in the financial statements and furthermore it should not be penalized on account of the mistake committed by the CA - there was no immediate tax benefit to the assessee by not disallowing the interest expenses since there was loss - no penalty

  • Income Tax:

    Unexplained cash credit u/s.68 - money received in the form of preference share capital through FDI route with the proper approval of FIPB and RBI by filing requisite statutory forms and complying with the requisite conditions - addition not sustainable without rebutting various documentary evidences available on record merely on ground that these are photocopies and Key management stationed overseas not appeared before AO

  • Income Tax:

    Powers of the DRP u/s 144C(8) - Tribunal was not right in holding that the DRP exceeded its jurisdiction in passing the order. In any event, the order passed by the DRP was not impugned before the Tribunal rather what was impugned was the final assessment order passed u/s 144C(13) r.w.s. 143(3),Therefore, the Tribunal was required to consider on merits whether the said assessment order was justified or not - remanded to Tribunal

  • Income Tax:

    Penalty u/s 271(1)(b) - non compliance of notice sent in the name of Alam Zafar in place of Zafar Alam - Penalty cannot be imposed on the basis of assumptions and presumptions - Revenue has to make out a categoric case that the assessee was served upon by proving on record acknowledgements to show that assessee has received the notice and has failed to comply by attending the proceedings - penalty deleted

  • Income Tax:

    Revision u/s 263 - in original assessment AO estimated net profit @ 7% which was reduced by CIT(A) @ 5% - It is not in dispute that issue on which the remand order was passed in purported exercise of powers vested in the CIT u/s 263 i.e. unsecured loans/creditors, was not a subject matter of appeal - revision justified

  • Income Tax:

    Penalty u/s 271(1)(c) - AO initiated penalty on one limb of section 271(1)(c) and had imposed penalty on another limb - Third Member has upheld the view of AM that the standard proforma without striking of the relevant clauses will lead to an inference as to non-application of mind by AO and penalty is not sustainable

  • Income Tax:

    Addition u/s. 40A(2)(b) - payment made for getting sales lead from related party - neither furnish details of such sales leads nor details of business actually generated through those leads - onus was on the assessee to prove that these reimbursement of expenses to related party were wholly and exclusively incurred for the purposes of business, which he failed to discharge - addition confirmed

  • Income Tax:

    Penalty u/s 271G - the basic requirement for penalty is that the assessee failed to submit the relevant information/document required u/s 992D(3) - the necessary information was given but was not acceptable by TPO so these facts nowhere entitled the TPO to levy the penalty

  • Income Tax:

    Deduction u/s 80P(2)(i) - the assessee is not a recognized bank as per the provision of RBI and there is a difference between the Co-operative bank and in the Credit Co-operative Society - Assessee being a Credit Co-operative Society is not in the banking business, entitled for deduction u/s 80P

  • Income Tax:

    Review Petition - writ was earlier rejected against order of Pr. CIT on application for waiver of interest u/s 220(2) - There is no error apparent on the face of the record - re-appreciation of evidence and rehearing of case is not permissible in light of provisions as contained u/s 114 and Order 47 Rule 1 of CPC -

  • Customs:

    Maintainability of appeal - Jurisdiction - Valuation of imported goods - as per Notification importation of erca nuts was made free provided the CIF value was ₹ 110/- or more per kG otherwise duty, redemption, fine and penalty - question to how duty is payable if imported on less value is a valuation dispute between the parties - appeal not maintainable

  • SEBI:

    SECURITIES AND EXCHANGE BOARD OF INDIA (LISTING OBLIGATIONS AND DISCLOSURE REQUIREMENTS) (THIRD AMENDMENT) REGULATIONS, 2019

  • Service Tax:

    Extended period of limitation - common input services used for trading activities - the issue was highly debatable and there were divergent views in the judicial forum - No justifiable reason being assigned by the department for invocation of the extended period of limitation.

  • Service Tax:

    Levy of service tax - to state that the right to sell eatables and collect empty bottles is a statutory right is an absurd proposition, which cannot be accepted - ervice tax would be leviable as long as the activity undertaken falls within the scope of taxable service as defined.

  • Service Tax:

    Levy of service tax - activity / privilege to sell eatables and collect empty liquor bottles - agency commission - assessee liable to pay service tax on 1% of the revenue retained by them as agency commission

  • Service Tax:

    CENVAT credit - appellants have rightly taken the Cenvat credit as per Credit Rules - It is of no relevance as to whether the construction has been done through the contractors or not as long as service tax is paid, the appellant is entitled for Cenvat credit and subsequent utilisation thereof for payment of service tax.

  • Service Tax:

    Refund of Service Tax based on decision of SC on other case - ST on materials supplied free of cost - Limitation u/s 11B(1) of the Act - A plain reading of the provision contained in Clause (ec) of Explanation (B) to Section 11B of the Act would show that the “judgment, decree, order or direction of appellate authority, Appellate Tribunal or any court” mentioned therein shall be in a case between the same parties - refund bar by limitation

  • Service Tax:

    Condonation of delay of 214 days - communication gap between the appellant and the consultant - appellant was under the impression that the consultant will take necessary steps to challenge the order where as consultant was under the impression that the appellant will make arrangements for filing the appeal through any Advocate practising in Bangalore - considering larger interest delay condoned with cost


Articles


Notifications


Circulars / Instructions / Orders


News


Case Laws:

  • GST

  • 2019 (6) TMI 1342
  • 2019 (6) TMI 1341
  • 2019 (6) TMI 1340
  • 2019 (6) TMI 1339
  • 2019 (6) TMI 1337
  • 2019 (6) TMI 1308
  • 2019 (6) TMI 1338
  • 2019 (6) TMI 1304
  • 2019 (6) TMI 1307
  • 2019 (6) TMI 1306
  • 2019 (6) TMI 1305
  • Income Tax

  • 2019 (6) TMI 1297
  • 2019 (6) TMI 1296
  • 2019 (6) TMI 1295
  • 2019 (6) TMI 1294
  • 2019 (6) TMI 1293
  • 2019 (6) TMI 1303
  • 2019 (6) TMI 1292
  • 2019 (6) TMI 1291
  • 2019 (6) TMI 1302
  • 2019 (6) TMI 1301
  • 2019 (6) TMI 1290
  • 2019 (6) TMI 1300
  • 2019 (6) TMI 1299
  • 2019 (6) TMI 1289
  • 2019 (6) TMI 1288
  • 2019 (6) TMI 1287
  • 2019 (6) TMI 1286
  • 2019 (6) TMI 1298
  • 2019 (6) TMI 1285
  • 2019 (6) TMI 1283
  • 2019 (6) TMI 1284
  • Customs

  • 2019 (6) TMI 1336
  • 2019 (6) TMI 1335
  • 2019 (6) TMI 1282
  • Corporate Laws

  • 2019 (6) TMI 1334
  • Insolvency & Bankruptcy

  • 2019 (6) TMI 1332
  • 2019 (6) TMI 1333
  • 2019 (6) TMI 1331
  • PMLA

  • 2019 (6) TMI 1330
  • Service Tax

  • 2019 (6) TMI 1327
  • 2019 (6) TMI 1326
  • 2019 (6) TMI 1325
  • 2019 (6) TMI 1281
  • 2019 (6) TMI 1280
  • 2019 (6) TMI 1318
  • 2019 (6) TMI 1329
  • 2019 (6) TMI 1324
  • 2019 (6) TMI 1323
  • 2019 (6) TMI 1322
  • 2019 (6) TMI 1321
  • 2019 (6) TMI 1320
  • 2019 (6) TMI 1319
  • 2019 (6) TMI 1328
  • Central Excise

  • 2019 (6) TMI 1317
  • 2019 (6) TMI 1316
  • CST, VAT & Sales Tax

  • 2019 (6) TMI 1315
  • 2019 (6) TMI 1314
  • 2019 (6) TMI 1313
  • 2019 (6) TMI 1312
  • 2019 (6) TMI 1311
  • 2019 (6) TMI 1310
  • Indian Laws

  • 2019 (6) TMI 1309
 

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