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Archive: 28 May 2018

Posts in 28 May 2018

CBDT to set up High Court Cells at all places where Bench of HC is situated

May 28, 2018 1056 Views 0 comment Print

It has come to the notice of the Board that at many places, where High Court Benches are functioning, no High Court Cell has been set up. The bench-wise position of various High Courts with respect to setting up of High Court Cells is as per Annexure-A. High Court Cells should be set up immediately at all places where the Bench of High Court is situated.

Addition cannot be made by applying prudent man’s behaviour test

May 28, 2018 1002 Views 0 comment Print

One should not consider and reject an explanation as concocted and contrived by applying prudent man’s behaviour test. Principle of preponderance of probability as a test is to be applied and is sufficient to discharge onus.

Reassessment Notice U/s. 148 issued for mere non submission of Computation of income with form 56F is invalid

May 28, 2018 1314 Views 0 comment Print

The AO’s reason for re-opening is that along with the certificate in Form 56F, which was the certificate of the CA, the working sheet of deduction was not enclosed. That was not a requirement of law. What Form 56F has to be accompanied with is specified under the Income Tax Rules itself. The mere fact that the working sheet may not have been enclosed does not amount to a failure by the Assessee to make a full and true disclosure of all material facts. Consequently, the Court is satisfied that the second reason for re-opening is also unsustainable in law.

Disaster Recovery Drill on GST portal scheduled for 2nd June 2018

May 28, 2018 2952 Views 0 comment Print

Major Disaster Recovery Drill scheduled for 2nd June 2018, between 9 AM to 3 PM. Kindly note that GST System services will not be available during this time. Disaster Recovery Drill scheduled for 2nd June 2018, between 9 AM to 3 PM. Kindly note that GST System services will not be available during this time. GSTN […]

UTGST on Priority Sector Lending Certificate under Reverse Charge Mechanism

May 28, 2018 723 Views 0 comment Print

CBEC notifies levy of GST on Priority Sector Lending Certificate (PSLC) under Reverse Charge Mechanism (RCM) vide Notification No. 11/2018- Union Territory Tax (Rate)   dated 28th May 2018 by amending notification No. 04/2017- Union Territory Tax (Rate) dated 28.06.2017 GOVERNMENT OF INDIA MINISTRY OF FINANCE (Department of Revenue) Notification No. 11/2018-Union Territory Tax (Rate) New […]

IGST on Priority Sector Lending Certificate under Reverse Charge Mechanism

May 28, 2018 2610 Views 0 comment Print

Notification No. 12/2018-Integrated Tax (Rate)- CBEC notifies levy of GST on Priority Sector Lending Certificate (PSLC) under Reverse Charge Mechanism (RCM)  by amending notification No. 04/2017- Integrated Tax (Rate) dated 28.06.2017.

Reopening not valid, when very basis of its belief been reversed by ITAT before recording of reasons by AO

May 28, 2018 1140 Views 0 comment Print

DCIT  Vs  M/s DSM Sinochem Pharmaceuticals Pvt. Ltd. (ITAT Chandigarh) In this case since there was no reason at all for reopening the case on the issue of treatment of royalty expenses ,since the same had already been decided in favour of the assessee by the ITAT, before the recording of reasons for reopening the present case. […]

GST on Priority Sector Lending Certificate under Reverse Charge Mechanism

May 28, 2018 13353 Views 0 comment Print

Notification No. 11/2018-Central Tax (Rate)- CBEC notifies levy of GST on Priority Sector Lending Certificate (PSLC) under Reverse Charge Mechanism (RCM) by amending notification No. 04/2017- Central Tax (Rate) dated 28.06.2017

NACIN notified as authority for conducting examination for GST Practitioners

May 28, 2018 26628 Views 23 comments Print

Seeks to notify NACIN as the authority for conducting the examination for GST Practitioners under rule 83 (3) of the CGST Rules, 2017 vide Notification No. 24/2018 – Central Tax

ITC on costs Mechanical & Electrical Works cost under Extension Project

May 28, 2018 26211 Views 0 comment Print

In re Nipro India Corporation Private Limited (GST AAR Maharashtra) Present application for advance ruling is being filed to determine the eligibility of ITC in relation to costs proposed to be incurred for ‘Mechanical Works’ and ‘Electrical Works’ under the Extension Project. ‘Mechanical Works’ entails activities in the nature of Plumbing Works, Fire Protection Work, […]

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