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Archive: 03 April 2018

Posts in 03 April 2018

Serious Fraud Investigation Office And arresting powers

April 3, 2018 9933 Views 2 comments Print

Section 211 set forth the provision for the power of the Central Government to establish an office to be called the Serious Fraud Investigation Office to investigate frauds relating to a company.

Mere Affixation of Brand on Tools by Embossing/Engraving not Amounts to Manufacture

April 3, 2018 843 Views 0 comment Print

Arihant Udyog Vs Arihant Udyog (CESTAT Mumbai) As per the activity the appellant is only carrying out affixation of brand on the tools i.e. spanner by embossing/ engraving. This process alone does not amount to manufacture. As regards other processes which are carried out by the job workers, it prima facie appears that the independent […]

Understanding E-Way Bills – At a Glance

April 3, 2018 2820 Views 0 comment Print

1st April has become a land mark date in the GST journey, I not because it is April Fools day but it marks the advent of e-way bills in the country under the GST regime, a tool to check tax evasion and bring in operational efficiency so far as taxpayers and logistics management is concerned.

Report on Insolvency Law Committee out – Major suggestions & Analysis

April 3, 2018 1575 Views 0 comment Print

Government set up INSOLVENCY LAW COMMITTEE on 16th November, 2017, to make recommendations to the Government on issues arising from the implementation of the Insolvency and Bankruptcy Code, 2016, as well as on the recommendations received from various stakeholders.

Service Tax on Passenger Service Fees & other taxes levied by Airlines

April 3, 2018 2877 Views 0 comment Print

The dispute in the present appeal is relating to their liability to pay Service Tax on Passenger Service Fees (PSF) and other taxes (international taxes) collected by the airlines as part of consideration when the tickets are issued to the passengers.

No Service tax on Consideration received for sale of Developmental Rights

April 3, 2018 1878 Views 0 comment Print

Consideration received by the respondent is towards sale of Developmental Rights to the land and cannot be considered as commission for real estates agents services.

Tool Development Charges – Export or not under GST

April 3, 2018 30390 Views 2 comments Print

The present article lays a discussion into the tax ability of Tools, Dies, Jigs familia when made for overseas customers but retained in India. The Indian government is crazy with forex and does everything a man does for his job (Eh?), to attract forex,

Central Bank Watch: Hawkish but hike not yet

April 3, 2018 1095 Views 0 comment Print

In the February meeting, the RBI had revised its inflation forecast for the fourth quarter (2017-18) to 5.1% from 4.3%-4.7% earlier. Inflation print is now expected to be lower than the RBI’s estimate in Q4 (so far the average has been 4.8%).

E-Way Bill Not Required, If…………………!!!!

April 3, 2018 138708 Views 34 comments Print

Finally from 1st April E-way Bill for Inter-state movement of goods( location of the supplier and place of supply are in diffierent states ) has become mandatory. However , for Intra-state movement of goods(location of the supplier and place of supply within same state) eway bill is going to be rolled out from 1st May, 2018.

Refund of IGST Paid on Export of Goods: Guidance

April 3, 2018 4851 Views 2 comments Print

Guidance to the Exporters for getting  Refund of IGST Paid on Export of Goods: File FORM GSTR 1 properly for the tax period which IGST paid require to be claim. Fill  correct data of export of goods in Table 6A of FORM GSTR 1 of the relevant tax period. Pay your tax and File FORM […]

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