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Archive: 19 April 2018

Posts in 19 April 2018

Live Course on Appeal, Pleading & Drafting under GST by CA Sachin Jain

May 15, 2024 7062 Views 0 comment Print

oin us for an immersive live course led by renowned expert CA Sachin Jain, as we delve into the intricacies of appeal, pleading, and drafting under GST.

Bihar to Roll Out intra-state e-way Bill WEF April 20th 2018

April 19, 2018 4773 Views 0 comment Print

The e-way bill in respect of movement of goods originating and terminating in the State of Bihar shall not be required to be generated where the consignment value does not exceed Two Lac Rupees.

Income from trust properties has to be assessed in the hands of beneficiaries

April 19, 2018 8625 Views 0 comment Print

The position under section 161(1) of the Act is that a trustee under a trust cannot be assessed on the aggregate income received by it as a single unit. The assessment in the name of the trustee in terms of the sub-section can be made in two ways.

GST Audit Provisions: Detailed Analysis

April 19, 2018 133491 Views 22 comments Print

While the GST regime emphasizes self-assessment processes, the complexities involved in it make one wary. At this juncture, it is clear that the GST law is not presently simple enough for an assessee to compute his total and taxable turnovers and duly report the same

Sec. 80C Allowable on Principal Loan Payment for residential Flat irrespective of use

April 19, 2018 2820 Views 0 comment Print

The learned Counsel for the assessee has filed a chart depicting various issues arising in all of these appeals and it is seen that most of the issues are repetitive in all the years. Therefore, we are disposing of the appeals on the basis of the issues arising therefrom.

ICRISAT Eligible for Excise Duty refund on petroleum products procured by them

April 19, 2018 1362 Views 0 comment Print

On perusal of records, it transpires that the issue is regarding refund of Central Excise duty paid on various petroleum products which are consumed by the respondent whether it can be refunded or otherwise.

GST Return Filing simplification Model A and Model-B

April 19, 2018 11178 Views 0 comment Print

Reduction in number of Returns to One Return per month. No to-and-fro movement of invoice data (like GSTR → GSTR → GSTR → GSTR1A → GSTR-3). Simplicity of Return design: Summary of outwards supplies and inward supplies with annexure of invoices for outward supplies and inward supplies attracting reverse charge. Taxpayer Interface should be simple to use and fill up.

TDS deductible on Commission retained by Airline Operators for Collecting Passenger Service Fee

April 19, 2018 4956 Views 0 comment Print

M/s. Delhi International Tax Airport Pvt. Ltd Vs DCIT (ITAT Bangalore) Once it has been repeatedly held that Airlines Operators are collecting the PSF on behalf of the Airport Authorities/Operators and the PSF is to be paid to the airport authority in terms of the notifications issued by the MOCA at different points of time,the […]

Remnant fuels classifiable under heading 2710

April 19, 2018 1299 Views 0 comment Print

Kind attention is invited to the Board circular No. 37/96-customs dated 3.7.1996 on the above subject. In the said circular, Board had inter-alia clarified that in the case of a vessel brought for ship breaking, the remnant fuel and oil (other than fuel and oil contained in the vessels machinery and engines), ships stores etc. are classifiable separately in their appropriate headings and not in CTH 8908.

ITC on Rent-A-CAB- Possible Issues under GST Regime

April 19, 2018 35454 Views 2 comments Print

In the present article we are mainly concerned with the restrictions with respect to rent-a-cab. Relevant provision is reproduced below: Sec. 17(5) Notwithstanding anything contained in sub-section (1) of section 16 and subsection (1) of section 18, input tax credit shall not be available in respect of the following, namely:—

s. 292B cannot save Assessment order passed without Notice u/s 143(2)

April 19, 2018 1818 Views 0 comment Print

ITO Vs. Sh. Neeraj Goel (ITAT Delhi) IT(A) has rightly held that the assumption of jurisdiction to frame an assessment or non assumption of jurisdiction to frame an assessment goes to the root of the judicial act of framing an assessment order and in the event of non assumption of jurisdiction u/s. 143(2) of the […]

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