The petitioner’s challenge has principally three elements viz., [a] having paid the tax under IGST Act on the entire value of imports; inclusive of the ocean freight, the petitioner cannot be asked to pay tax on the ocean freight all over again under a different notification;
The Delhi bench of the CESTAT, on Monday, held that service tax is payable on the amount received for providing Common facilities under the head renting of immovable property through the same was received under a separate agreement.
One important bone of contention is the long term capital gains tax on the equities and equity based mutual funds. What was in the budget speech and what was in the amendment are completely two different matters.
Is hostel accommodation provided by Trusts to students covered within the definition of Charitable Activities and thus, exempt under Sl. No. 1 of notification No. 12/2017-CT (Rate).
Where assessee had transferred land owned by it to lessee for a long period but subsequently when the lessee company went into liquidation had transferred lease right, the same was taxable under the head Capital gains instead of Income from other sources because even though the land was transferred for a long period, the actual ownership of the land remained with assessee.
Reverse Charge Mechanism u/s ( 4 ) of CGST Act, a contentious move to force dealers to register under GST, faced a lot of resistance and criticism and hence was put on hold till 31st March 2018. In view of the declining monthly GST collections in recent months, there have been comments that RCM should be brought back to arrest the GST revenue leakage.
As you are aware, the Insolvency and Bankruptcy Code, 2016 (the Code) provides for a specialized forum to oversee insolvency and liquidation proceedings for individuals, firms and Corporates. Insolvency Proceedings under the Code can be initiated against a Company (Corporate Debtor) by a Financial Creditor (Sec 7), an Operational Creditor (Sec 8 & 9) or by the Corporate Debtor itself (Sec 10).
MCA has notified below mentioned 41 sections of Companies Amendment Act, 2017 w.e.f. 9th February, 2018 vide its notification dated 09th February 2018.
The mechanism called e-Way Bill was brought introduced implementation of Goods and Service Tax Laws in India. In previous era, the mechanism called way bill was in force under VAT Laws of concerned State.
Profession Tax is a tax levied on a person engaged in any profession, trade, calling and employment in West Bengal. The West Bengal State Legislature enacted the West Bengal State Tax on Professions, Trades, Callings and Employments Act, 1979
