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Home e-Newsletters Index Year 2018 September Day 3 - Monday

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TMI Tax Updates - e-Newsletter
September 3, 2018

Case Laws in this Newsletter:

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



TMI SMS


Highlights / Catch Notes

  • GST:

    Application of provisions of Central Goods and Services Tax Act. - Section 20 of the IGST Act, 2017 as amended - quantum of pre-deposit to be made for filing of appeal before Appellate Authority or Appellate Tribunal.

  • GST:

    Apportionment of tax and settlement of funds. - Section 17 of the IGST ACT, 2017 as amended.

  • GST:

    Place of supply of services where location of supplier or location of recipient is outside India. - Section 13(3) of the IGST, 2017 as amended - Performance based service - Import of goods for the purpose of repairs -

  • GST:

    Place of supply of services where location of supplier and recipient is in India - Section 12(8) of the IGST ACT, 2017 as amended - GTA - where the transportation of goods is to a place outside India, the place of supply shall be the place of destination of such goods

  • GST:

    Intra-State supply. - Section 8 of the IGST ACT, 2017 as amended - Meaning and scope of "establishments of distinct persons" with state - the term "being a business vertical" omitted from the scope of Intra-State supply

  • GST:

    Levy and collection. - Section 5(4) of the IGST ACT, 2017 as amended - Revers Charge mechanism

  • GST:

    Definitions. - Section 2(16) of the IGST ACT, 2017 as amended - Meaning and scope of of the term "non-taxable online recipient" extended to the Panchayat under article 243G

  • GST:

    Definitions. - Section 2(6) of the IGST ACT, 2017 as amended - Receipt of export proceeds in Indian Rupees if permitted by the RBI, shall be eligible for satisfaction of conditions of Export of Services.

  • GST:

    Crediting proceeds of cess to Fund - Section 10 of the GOODS AND SERVICES TAX (COMPENSATION TO STATES) ACT, 2017 as amended.

  • GST:

    Calculation and release of compensation. - Section 7 of the GOODS AND SERVICES TAX (COMPENSATION TO STATES) ACT, 2017 - Name of CBEC changed to CBIC

  • GST:

    Order of utilisation of input tax credit. - Section 9B of the UTGST ACT, 2017 - New section inserted.

  • GST:

    Utilisation of input tax credit. - Section 9A of the UTGST Act, 2017 - New Section inserted.

  • GST:

    Payment of tax. - Section 9 of the UTGST Act, 2017 as amended.

  • GST:

    Levy and collection. - Section 7 of UTGST Act, 2017, as amended

  • Income Tax:

    Refund of Tax - a deemed acceptance of the return of income furnished by the assessee stands and holds good and consequently, any tax paid either along with the return or later under any circumstances would certainly fall under the purview of "tax chargeable on the total income returned by the assessee" as referred to in Proviso (b) of Section 240 of the said Act. - Entire amount of tax cannot be refunded where the fresh assessment was set aside.

  • Income Tax:

    Transfer pricing adjustment - The mandate of the CBDT circular is that the Assessing Officer should make a reference to the Transfer Pricing Officer - There is no acceptable or justifiable reason on record for refusing to abide by this condition in the CBDT circular.

  • Income Tax:

    Principle of grossing up u/s 195A - TDS u/s 195 - the obligation to pay the tax is on the University of Warwick and since the assessee in terms of the agreement agreed to pay the taxes, the same has to be necessarily added to the income of the University of Warwick and therefore, the principle of grossing up has to be applied.

  • Income Tax:

    The preoperative expenses are all generally revenue expenditure and by applying a wrong test, which is not the decisive test, the Authorities had concurrently committed an error in treating the expenditure as capital expenditure.

  • Income Tax:

    CIT-A having struck down the action of the AO in taxing short term capital gains, had proceeded to make some observations, to somehow bring to tax the short term capital gains, which in our considered opinion, cannot be done as per law at all. - the observations of the CIT-A deserves to be expunged.

  • Income Tax:

    If the AO is allowed to reopen the assessment after the order of the CIT(Appeals), then the tax payers may not have confidence on the judicial system of this country.

  • Income Tax:

    TDS u/s 195 - remittance of USD 14,000 towards “training fees” - India-USA Tax Treaty - Foreign entity is not having P.E. in India - It is not a case of “make available” any technology etc. to the assessee - No TDS (withholding tax) liability.

  • Income Tax:

    Deemed dividend u/s 2(22)(e) - All indications were that the assessee used money for its own purposes as it did by advancing substantial amounts enjoying the profits of the company. - Additions confirmed.

  • Income Tax:

    Withholding tax credit deducted by US based subsidiary of the assessee company in USA on payment of interest loan - Indo-US DTAA - If the TDS certificate is produced by the assessee, then such tax which has been withheld, Assessing Officer has to give credit of such withholding tax by the US Company which is the mandate of Article 25.

  • Customs:

    Tariff Notification in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Sliver- Reg.

  • Customs:

    Valuation of imported goods - Chartered Engineer’s report, admits that goods imported by appellant are only scrap but scrap was in the kind of ‘Tread’, ‘Taste’, and ‘Troma/Trump’ etc. - As nothing has been brought on record, how the examination was done by the Chartered Engineer to find out how much is the quantity of ‘Tread’, ‘Taste’ and ‘Troma/Trump’ are not scrap - valuation cannot be rejected.

  • Customs:

    Project Import - benefit of concessional rate of duty - the appellants had registered the contract before clearance of the warehoused goods and hence they are eligible for the benefit of the project import.

  • Customs:

    Revocation of registration of appellant as a Courier Agency - The revocation proceedings were initiated for the very same incident upon which no inquiry has been conducted. Without such inquiry, the initiation of proceedings is itself in jeopardy. For these reasons, the revocation is set aside.

  • Indian Laws:

    Dishonor of cheque - Though the loan jointly borrowed by both the accused, the alleged cheque was not signed by the petitioner and as such, no offence under Section 138 of Negotiable Instrument Act can be said to have been committed by the petitioner.

  • Service Tax:

    Reverse charge - in any case if the argument of revenue neutrality is accepted as permissible defense in the present case entire scheme of payment of taxes on reverse charge basis will become otiose and no business liable to pay service tax would be required to pay service tax in respect of services received by them from nonresident service providers, for the reason that the tax so paid will be available as credit to them. - Demand confirmed.

  • Service Tax:

    Classification of Services - Activity of renting of land along with renting of plant and machinery fell under the category of “renting of immovable property” and “supply of tangible goods” and activity is not covered under the definition of “support services of business or commerce”.

  • Central Excise:

    Time limitation for issuance of SCN - the proceedings are pending for the last more than 16 years when fresh notice for date of hearing was issued on 3.5.2017 - Section 11A (1), (4) and (11) of Central Excise Act - Proceedings quashed.

  • Central Excise:

    CENVAT credit - the assessee is entitled to the benefit of CENVAT credit on capital goods on the Line 3 of their plant as it was declared to be meant for manufacture of both dutiable and exempted products and used for manufacture of dutiable products although for a mere 19 days.

  • Central Excise:

    CENVAT Credit - adjustment of credit prior to 01.09.2014 - taking credit after 6 months from the date of invoice - insertion of 6th proviso in the Rule 4 of Cenvat Credit Rules 2004 - assessee sought breathing period since there was limitation prior to insertion of such proviso - credit allowed.

  • Central Excise:

    Review of Order - Doctrine of merger - Admittedly, in the case in hand, the Hon'ble High Court as well as the Hon'ble Apex Court has not passed any speaking order, in that circumstances, doctrine merging is not applicable to the facts of the case.

  • Central Excise:

    Classification of goods - ‘Chocolate’ namely “Parle 2-in-1 Eclairs” - “Kismi Toffee” and “Kismi Toffee Bar.” - the goods manufactured by the appellants are Sugar Confectionary is neither chocolate nor bubble gum - the appellants are entitled to pay concessional rate of duty.

  • Central Excise:

    Clandestine removal - Product contains tobacco or not - The physical examination by the Revenue officer is not acceptable who is not a chemical examiner - The duty liability cannot be fastened on the appellant on mere assumptions and presumptions.

  • Central Excise:

    CENVAT Credit - payment of duty @1% or 2% under N/N. 01/2011-CE - Cenvat credit is not availed by virtue of the provisions of said Rule 3 of Cenvat Credit Rules, 2004 but it is availed by virtue of Rule, 16 of Central Excise Rules, 2002 where there is a deeming provision that such goods shall be deemed to be inputs - appeal allowed

  • VAT:

    Denial of input tax credit (ITC) - Supplier failed to deposit the tax - The State is deprived of the tax to that extent and hence there is no question of input tax credit - Having not received the tax at the first instance of sale, there is no obligation on the State to grant input tax credit.


Articles


Notifications


News


Case Laws:

  • Income Tax

  • 2018 (9) TMI 72
  • 2018 (9) TMI 71
  • 2018 (9) TMI 70
  • 2018 (9) TMI 69
  • 2018 (9) TMI 68
  • 2018 (9) TMI 67
  • 2018 (9) TMI 66
  • 2018 (9) TMI 80
  • 2018 (9) TMI 65
  • 2018 (9) TMI 79
  • 2018 (9) TMI 78
  • 2018 (9) TMI 77
  • 2018 (9) TMI 81
  • 2018 (9) TMI 64
  • 2018 (9) TMI 63
  • 2018 (9) TMI 57
  • 2018 (9) TMI 76
  • 2018 (9) TMI 62
  • 2018 (9) TMI 61
  • 2018 (9) TMI 60
  • 2018 (9) TMI 56
  • 2018 (9) TMI 75
  • 2018 (9) TMI 74
  • 2018 (9) TMI 73
  • 2018 (9) TMI 59
  • 2018 (9) TMI 1
  • 2018 (9) TMI 58
  • Customs

  • 2018 (9) TMI 52
  • 2018 (9) TMI 51
  • 2018 (9) TMI 50
  • 2018 (9) TMI 49
  • 2018 (9) TMI 48
  • 2018 (9) TMI 47
  • 2018 (9) TMI 46
  • 2018 (9) TMI 45
  • Corporate Laws

  • 2018 (9) TMI 53
  • Insolvency & Bankruptcy

  • 2018 (9) TMI 55
  • 2018 (9) TMI 54
  • Service Tax

  • 2018 (9) TMI 42
  • 2018 (9) TMI 41
  • 2018 (9) TMI 40
  • 2018 (9) TMI 39
  • 2018 (9) TMI 38
  • 2018 (9) TMI 37
  • 2018 (9) TMI 36
  • 2018 (9) TMI 35
  • 2018 (9) TMI 34
  • 2018 (9) TMI 33
  • 2018 (9) TMI 32
  • 2018 (9) TMI 31
  • 2018 (9) TMI 30
  • 2018 (9) TMI 29
  • 2018 (9) TMI 28
  • 2018 (9) TMI 27
  • Central Excise

  • 2018 (9) TMI 24
  • 2018 (9) TMI 23
  • 2018 (9) TMI 22
  • 2018 (9) TMI 26
  • 2018 (9) TMI 21
  • 2018 (9) TMI 20
  • 2018 (9) TMI 19
  • 2018 (9) TMI 25
  • 2018 (9) TMI 18
  • 2018 (9) TMI 17
  • 2018 (9) TMI 16
  • 2018 (9) TMI 15
  • 2018 (9) TMI 14
  • 2018 (9) TMI 13
  • 2018 (9) TMI 12
  • 2018 (9) TMI 11
  • 2018 (9) TMI 10
  • 2018 (9) TMI 9
  • 2018 (9) TMI 8
  • 2018 (9) TMI 7
  • 2018 (9) TMI 6
  • 2018 (9) TMI 5
  • 2018 (9) TMI 4
  • 2018 (9) TMI 3
  • CST, VAT & Sales Tax

  • 2018 (9) TMI 2
  • Indian Laws

  • 2018 (9) TMI 44
  • 2018 (9) TMI 43
 

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