"19 April 2018" Archive

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

Notification No. S.O. 180 19/04/2018

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....

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

M/s. Abad Trust Vs Asst. Director of Income tax -Exemption (ITAT Cochin)

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. ...

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GST Audit Provisions: Detailed Analysis

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...

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

A. Ashok Simha Reddy Vs. DCIT (ITAT Hyderabad)

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....

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

Commissioner of Central Tax Vs ICRISAT (CESTAT Hyderabad)

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....

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GST Return Filing simplification Model A and Model-B

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 s...

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IIPM liable to pay service tax on courses conducted by it

C.S.T. Service Tax, Delhi Vs Indian Institute of Planning & Management (CESTAT Delhi)

Since the training courses conducted by IIPM do not result in award of any certificate/ Diploma/ Degree or any other educational qualification recognized by the law being in force, the activity will fall under the category of Section 65 (105) (zzc) of the Act and is a taxable service liable to payment of Service Tax....

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Remnant fuels classifiable under heading 2710

Circular No. 09/2018-Customs 19/04/2018

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 classif...

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

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:—...

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

Income Tax Officer Vs. Sh. Neeraj Goel (ITAT Delhi)

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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