These two appeals filed by the assessee relate to the assessment years 2012-13 & 2013-14. Since common issue is raised in both the appeals, we are, therefore, proceeding to dispose them off by this consolidated order for the sake of convenience.
Belated cross-objections– by over four years, in the opinion of the Court, meant that the appellants were seeking to rake up stale issues for which they had accepted the finality as regards their tax liability.
A. Rates of Income-tax- Brief Impact: A. Individual, Hindu undivided family, association of persons, body of individuals, artificial juridical person. I. The rate of income tax is proposed to be same. Tax slab and rates remain unchanged.
Trial Phase period for generation of e-way bill has been extended:- In view of difficulties faced by the trade in generating e-way bill due to initial technical glitches, it has been decided by the Govt. to extend the trial phase for generation of e-way bill, both for inter and intra- state movement of goods. It shall be made compulsory from a date to be announced. (Source: Twitter Message 1st February 2018 from GST@GOI).
In the case of Sun mac Enterprises vs. The Commissioner of Central Excise, the Madras High Court held that inability to pay pre- deposit of 7.5 percent before the Commissioner (Appeals) cannot be a fit ground for invoking writ jurisdiction under Article 226 of the Constitution of India.
Government is always committed to the welfare of farmers and the emphasis is on generating higher income for farmers. Government has promoted organic farming in a big way.
Duty Drawback provisions are made to grant rebate of duty or tax chargeable on any imported / excisable materials and input services used in the manufacture of export goods.
Since the time the FM has announced 10% Long Term Capital Gains (LTCG) without indexation benefit on Equity investments, there is continuous debate and discussion on the same. You must have read multiple articles on how the LTCG will be determined, the rules, grandfathering provision and so on.
Provisions of Accounting Standard 22 or Indian Accounting Standard 12 relating to deferred tax asset or deferred tax liability shall not apply, for seven years with effect from the 1st April, 2017, to a Government company which:—
In re M/s. Shree Vishwakarma Engineering Works (AAR Gujarat) (i) The product ‘Electrically operated Drum with Bell and Zalar’ manufactured and supplied by the applicant is classifiable under Heading 9208 of the First Schedule to the Customs Tariff Act, 1975. (ii) The product ‘Electrically operated Drum with Bell and Zalar’ of the applicant is not […]
