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Archive: 29 April 2017

Posts in 29 April 2017

Live Course on 360 degree Analysis of Input Tax Credit from a Litigation Perspective

July 14, 2024 3003 Views 0 comment Print

Join CA Sachin Jain for a live course on Input Tax Credit from a litigation perspective. Gain practical insights and master ITC complexities. Register now!

Taxation of Casual Taxable Person Under GST

April 29, 2017 14151 Views 4 comments Print

Small businessmen or Professionals (Such as fashion designer, trainers, and musicians) providing taxable goods or services may find that they have to register under GST if the term Casual Taxable Persons applied to them. Casual taxable person is defined under GST Section 2(20) as

Waves in the Taxability of ocean freight -Part I

April 29, 2017 35949 Views 3 comments Print

From July 2012, Service Tax shall be levied on all services other than those enumerated in the negative list U/s. 66D of Finance Act 1994 or those provided in the Mega Exemption Notification No. 25/2012. Thus after an act fulfills the conditions of the definition of the term service, it shall be verified if the service falls under the Negative List or the Mega Exemption List.

Invoicing under GST regime

April 29, 2017 18264 Views 3 comments Print

It`s time for the Business to be dynamic to GST regime, as invoicing is crucial in the execution of any transaction. Under GST, taxable persons are required to ensure utmost care while raising the invoice as it is required to be uploaded in the GST Portal for returns. This ensures hassle free flow of Input Tax Credit under the Act

GST Transitional Provisions in Simple Terms Part I

April 29, 2017 5745 Views 0 comment Print

Registered person other than composition taxpayer is allowed to take credit of Unavailed cenvat credit of capital goods, not carried forward in Return, in Electronic Credit Ledger.

Law laid down by jurisdictional HC binding on assessee under jurisdiction: SC

April 29, 2017 2493 Views 0 comment Print

Even though it is a debatable issue but as Gujarat High Court in the case of Ahmedabad Mfg. & Calico (P) Ltd. (supra) had taken a view that it is capital expenditure which was subsequently followed by Alembic Glass Industries Ltd. V. CIT (supra) and the registered office of the respondent assessee being in the State of Gujarat, the law laid down by the Gujarat High Court was binding.

Income Tax Exemption to MIG Cricket Club under department scanner

April 29, 2017 1194 Views 0 comment Print

We are prima facie of the opinion that the activities of the assessee of Banquet Hall Hiring, Hospitality (Restaurants) and Permit Room (Bar) are in the nature of carrying on trade, commerce, or business for consideration, which are hit by proviso to Section 2(15) of 1961 Act.

No TDS liability can be imposed for notional provision reversed afterwards

April 29, 2017 4068 Views 0 comment Print

If the assessee is able to establish that it was only a notional provision which was reversed afterwards, then no TDS liability can be imposed on the assessee.

Registration under GST- Provisions and applicability

April 29, 2017 6837 Views 3 comments Print

GST law provides for registration of various persons in different situation. This article aims at enlightening readers about the persons who are required to take registration and other provisions related to registration.

Himachal Pradesh Value Added Tax (Fifth Amendment) Rules, 2017

April 29, 2017 1755 Views 0 comment Print

In Rule 50 of the Himachal Pradesh Value Added Tax Rules 2005, in sub- rule (3) and in para No. 6 of the application Form L- 2 for the words twenty five, the word thirty, shall be constituted

Primacy to CJI’s Opinion on appointments not make Lokpal unconstitutional: SC

April 29, 2017 891 Views 0 comment Print

Dismissing the challenge against constitutionality of certain provisions of the Lokpal and Lokayuktas Act, the Supreme Court has held that the Constitution does not mandate that in all matters concerning the appointment to various offices in in different bodies, primacy must be accorded to the opinion of the Chief Justice or his nominee.

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