"18 December 2017" Archive

Drawback of Countervailing Duties can be claimed under an application for Brand Rate

Public Notice No. 158/2017-JNCH 18/12/2017

Since Countervailing Duties are not taken into consideration while fixing All Industry Rates of Duty Drawback, the Drawback of such Countervailing Duties can be claimed under an application for Brand Rate under Rule 6 or Rule 7 of the Customs, Central Excise Duties and Service Tax Drawback Rules, 1995 and/or the Customs and Central Excise...

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Discount on sales cannot be regarded as Commission liable to TDS U/s. 194H

Dish TV India Ltd. Vs Asstt. CIT (ITAT Mumbai)

Out of these four appeals two appeals are filed by the assessee while the other two appeals are filed by the Revenue for against the orders of the Commissioner (Appeals)--4, Mumbai dated 13-2-2017 and 6-2-2017 for assessment years 2011-12 and 2012-13 respectively....

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Notice for Short levy of GST on Tyres and Tubes meant for E-Rickshaw

F.No.: 85/INT/DGCEI/HQ/2017/13269 18/12/2017

Short levy of GST on tyres and tubes meant for Three Wheeled Electric Motor Vehicle (E-Rickshaw in common parlance} under HSN code 4011 and 4013...

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Payment in Indian Rs. via INR debit or credit cards at Duty Free Shops

Circular No. 50/2017-Customs 18/12/2017

It has been decided to extend the facility of payments in Indian rupees, through INR debit cards or credit cards at Duty Free Shops, without any need for conversion of foreign currency into Indian Rupees....

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HC upheld ITAT order allowing carry forward of losses and depreciation to SICK Company under BIFR

Principal Commissioner of Income Tax Vs M/s Rajasthan Explosives and Chemicals Ltd. (Delhi High Court)

The Revenue in this appeal under Section 260A of the Income Tax Act, 1961 questions the decision of the Income Tax Appellate Tribunal (ITAT)....

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E-Way Bill in Rajasthan: Govt Notifies rules

Notification No. F.12(46)FD/Tax/2017-Pt.-IV-145 18/12/2017

Every registered person who causes movement of taxable goods, as mentioned in Annexure appended to this notification, from a place outside the State to a place within the State or from a place within the State to a place outside the State, where consignment value exceeds fifty thousand rupees,-...

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Advisory for Taxpayers who have opted for Monthly filing of Form GSTR 1

Taxpayers, who have opted for Monthly filing of Form GSTR 1, can do so for the month of July, August, September, October and November 2017, sequentially. ...

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Posted Under: DGFT |

Advisory for Taxpayers who have opted for Quarterly filing of Form GSTR 1

Once you have chosen the option Quarterly, you cannot change this option in the remaining part of the financial year 2017-18. Thus, you will be required to file Quarterly returns and you cannot opt for Monthly filing of returns....

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Posted Under: DGFT |

9 FAQs on GST replied by GOI on its twitter handle on 18.12.2017

Question 1: services in the nature of license fees obtained from outside India, Is RCM applicable om this?? Answer: The query is not clear. However if it is import of services, RCM is applicable. Refer Notfn., 10/2017-IT Rate. dated 28.6.2017. Question 2: One of my client having itc 39 lak he is doing a business of textiles […]...

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Posted Under: DGFT |

Voluntary disclosure in all cases cannot absolve assessee from liability to pay penalty

Mr. Shanti Ramanand Sagar Vs. Commissioner of Income-Tax (Bombay High Court)

The Bombay High Court while allowing a reference application in favour of the Revenue, held that voluntary disclosure in all cases cannot absolve the assessee from penal liabilities under Section 271(1)(c) of the Income Tax Act. ...

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