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Archive: 27 April 2017

Posts in 27 April 2017

Free YouTube Live on The global landscape –  from market’s to trade

May 24, 2024 9 Views 0 comment Print

Join us for an insightful and dynamic YouTube Live session on “The global landscape –  from market’s to trade.” with renowned financial analyst Ankit Baid, MBA Finance. The presentation explores shifting of the global economic landscape, focusing on the decline of US dominance and the rise of China. It examines the potential decrease in global […]

Live Course on Appeal, Pleading & Drafting under GST by CA Sachin Jain

May 15, 2024 7380 Views 0 comment Print

oin us for an immersive live course led by renowned expert CA Sachin Jain, as we delve into the intricacies of appeal, pleading, and drafting under GST.

Brand usage – not an international transaction

April 27, 2017 1221 Views 0 comment Print

Whether the usage of foreign Associated Enterprise (AE) brand name on the cars manufactured and sold by the tax payer amounted to rendering of brand promotion service, and whether it constituted an international transaction under section 92B of the Income-tax Act, 1961(Act).

Demand and Recovery Under CGST

April 27, 2017 10236 Views 0 comment Print

Demand and Recovery procedures are basically for department to provide them a framework or methodology in order to raise a demand in the cases where any tax, interest or penalty are not paid and subsequent recovery in case of non-payment by the assessee.

ITAT on TP adjustment on account of Compensation for deemed brand development

April 27, 2017 1311 Views 0 comment Print

The first question that we need to decide is whether the benefit accruing to the HMC Korea, as a result of increased brand value due to sale of Hyundai cars in India by the assessee company, constitutes an international transaction.

Analysis of appointment of Key Managerial Personnel

April 27, 2017 11703 Views 4 comments Print

Characteristically, companies have various levels or hierarchies of employees with base levels starting from workers followed by supervisors, executives, managers, senior managers, general managers, to the top management usually consisting of functional directors and ultimately the managing director.

Addition based on mere scribbling on Loose Papers cannot be sustained

April 27, 2017 3057 Views 0 comment Print

This court is of the opinion that the material found was sketchy and insufficient to warrant a fresh valuation. In any case, the AO‟s order did not even go by the valuation report, but on an entirely different footing- not based on any principle at all.

Interstate or Intrastate Supplies under Reverse Charge Provisions in GST

April 27, 2017 43284 Views 7 comments Print

GST is a consumption / destination based tax wherein tax revenue should go to the state where goods/services have been consumed. In technical term such state is determined based on provisions of place of supply (POS) elaborated in Section 10, 11, 12 & 13 of the IGST Law.

Anti Profiteering Measures in GST – A New Experiment

April 27, 2017 2889 Views 0 comment Print

The GST law contains a unique provision on anti-profiteering measure as a deterrent for trade and industry to enjoy unjust enrichment in terms of profit arising out of implementation of Goods and Services Tax in India, i.e., anti-profiteering measure would obligate the businesses to pass on the cost benefit arising out of GST implementation to their customers.

Don’t rely merely on Head Notes / Placitum of Law Journals: HC

April 27, 2017 3642 Views 0 comment Print

During the assessment of judgments of Judicial Officers, it is noticed that many Judicial Officers have reproduced the Head Note/Placitum from the relevant Journals relating to High Court/ Supreme Court judgments. Needless to mention that the Head Note is a creation of the Edition Board.

Transfer of Shares to IEPF Authority

April 27, 2017 1821 Views 0 comment Print

All companies required to transfer shares to IEPF Authority under the aforesaid Rules shall transfer such shares, whether held in dematerialised form or physical form,to the demat account of IEPF Authority by way of corporate action.

IBU in IFSC can act as a Trading Member of an exchange

April 27, 2017 684 Views 0 comment Print

IFSC Banking Unit (IBU) set up in IFSC shall be permitted to act as a Trading Member of an exchange or a Professional Clearing Member of a clearing corporation in IFSC, without forming a separate company,

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