There is demand of interest for the intervening period from the date of presentation of cheque till its realization. I find that as per Rule 6 (2A) of the Service Tax Rules, 1994, the date of presentation of cheque is the date of payment of Service tax. Same view has been taken by the Tribunal in the case of Travel Inn India Pvt. Ltd.
It is not for the TPO to decide the best business strategy for the assessee. The Hon’ble High Court also held that This whimsical fixation by the TPO amounts to an arbitrary and unbridled exercise of power.
Mr. Tushar Kothari Vs. DCIT (ITAT Delhi) The intention behind enacting provisions of Section 2(22)(e) is that closely held companies (i.e. companies in which public are not substantially interested), which are controlled by a group of members, even though the company has accumulated profits would not distribute such profit as dividend because if so distributed […]
Seeks to impose anti-dumping duty on imports of ‘O-Acid’ originating in or exported from China PR. [TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)] GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) NOTIFICATION No. 6/2018-Customs (ADD) New Delhi, the 12th March, 2018 G.S.R. 220(E). – Whereas, in the […]
RBI had earlier constituted a Working Group to review the guidelines for Hedging of Commodity Price Risk by Residents in overseas markets (Chairman: Shri Chandan Sinha). Based on the report of the working group and comments received on the report, draft directions for hedging of commodity price risk and freight risk were released for comments on Jan 12, 2018.
This is in reference to the subject mentioned above. Phase 4 of the Investigation Module has been rolled out on 12.03.2018.
Costing Calculation Formula – Markup Method and Markdown Method Just enter purchase value and required Gross margin, you can find the sales value in both method markup and Markdown
ACIT Vs. Sh. Vineet Kumar Kapila (ITAT Delhi) ITAT held that booking of flat with the builder has to be treated as construction of flat by the assessee and hence period of three years would apply for construction of new house from the date of transfer of long term capital asset. Therefore, the Ld. CIT(A) has […]
It has come to notice that after generation of IGST Refund Scroll through ICES, in some cases the IGST Refund could not be disbursed due to IFSC not being accepted by PFMS/not registered at PFMS. The list of such IEC holders whose IGST Refund has not been disbursed due to PFMS error is being uploaded on the JNCH website (jawaharcustoms.gov.in)regularly.
GST- Refunds to Exporters & Others – Detailed analysis as to who is able to claim the GST Refund, how it could be claimed, when it could be claimed, recent decision of GST council in this regard in meeting dated 10th March
