Home Highlights September 2018 Year 2018 This

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1. ₹ 1,10,828 crore GST Gross Revenue collected for January, 2020

2. GST Revenue collection in the month of April 2018 exceeds ₹ 1 Lakh Crore

3. Provisional attachment of escrow bank account - shares of the petitioner / contractor - Joint Escrow account opened by the Principal - GST Evasion - we lift the...

4. Gratuity exemption u/s Section 10(10)(iii) - exemption limit raised to ₹ 25 lakhs

5. Turnover limit for Composition Levy for CGST - Manufacturers of Certain Goods not eligible for benefit of Composition Scheme u/s 10(1) - Notification as amended

6. Seeking provisional release of goods - Classification of imported goods - Naphtha - the respondent No.1 is permitted to proceed with the re-export of the goods on the...

7. Penalty u/s 271(1)(c) - inadvertent mistake - assessee, the returned income was ₹ 35.37 crores and an error of ₹ 1,30,869/- and ₹ 1,01,956/-, which the...

8. Requirement of deposit of a sum of ₹ 1 Crore for grant of bail - alleged offence u/s 132(1)(a) CGST Act even if SCN to the applicant in respect of alleged evasion...

9. Income arising out of interest - whether cannot be taken into account for the purpose of giving benefit under section 33AB as held by Tribunal? - When the assessee has...

10. Presumptive income - enhancement of threshold limits - U/s 44AD if 95% of gross receipts and payments through no-cash mode than limit of presumptive taxation increased...

11. Constitution of CSR committee for the Board - as per the appellant’s own calculation the net profit is apparently more than ₹ 5 crores i.e. threshold limited...

12. Switching between the composition scheme and normal scheme of payment of tax - When opted for the Composition scheme, ITC on Capital Goods need to be reversed upto 5...

13. Constitutional Validity - West Bengal Excise (Change in Management) Rules, 2009 - Changes in the Board of Directors - The inevitable conclusion must be that clause (d)...

14. Penalty u/s 271B - no tax audit conducted u/s 44AB - bonafide belief - When Gross profit is more than Rs.4 crores, it means the Gross Receipts were definitely more than...

15. Levy of GST - Composition scheme - the turn over after the GST regime came to force is less than ₹ 1 crore - The argument that the turn over in the financial year...