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Archive: 20 June 2018

Posts in 20 June 2018

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

May 15, 2024 7173 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.

Service Tax cannot be levied on incentive to encourage use of franking machines

June 20, 2018 2673 Views 0 comment Print

Coming to the controversy on rebate received from the postal department, it cannot be treated as a commission or an amount received for promoting the postal services. Such incentives are given by the postal authority to encourage use of franking machines, especially where the volumes are above a certain threshold level.

GST: Seizure of goods for alleged intention to evade tax without opportunity to taxpayer to explain his conduct is invalid

June 20, 2018 1269 Views 0 comment Print

M/s M.K. Enterprises  v. State of U.P. & 3 Others (Allahabad High Court) Assessee was not given any opportunity to show cause or give reply to the allegation on which goods had been seized on account of absence of Transit Declaration Form (TDF), it was held that as the petitioner had no notice or opportunity […]

No Penalty for non / Late filing of GST Return due to technical issues: HC

June 20, 2018 15969 Views 2 comments Print

Manu International Vs. State of U.P. (Allahabad High Court) Penalty should not be imposed where the assessee is unable to file the GST returns and pay the taxes for technical issues relating to migration. The petitioner is a registered partnership firm under the U.P. VAT Act, 2008. On the enforcement of the GST, it applied […]

HC directs Municipal Corporation, Raipur to Consider GST reimbursement application as per law

June 20, 2018 1050 Views 0 comment Print

Natthani Infrastructures Vs State of Chhattisgarh (Chhattisgarh High Court) 1. Learned counsel appearing for the petitioner would submit that petitioner has made an application on 05.04.2018 before the respondent authorities for reimbursement of additional Goods and Services Tax (GST) liability on civil contract and work order issued prior to implementation of Goods and Services Tax Act, […]

Management Of NPA- New Suggestion- An Old Wine In New Bottle

June 20, 2018 1563 Views 0 comment Print

Recently Mr. Piyush Goyal, Finance Minister, announced setting up of a committee to give recommendations in two weeks on formation of an asset reconstruction company for faster resolution of stressed assets besides mooting the idea of BAD BANK.

GST of Rs.3.86 Crores recovered from Civil Contractor

June 20, 2018 1950 Views 0 comment Print

A corporate taxpayer engaged in civil works for Central and State Departments as well as for private entities has defaulted in payment Of GST. On the same being point out, the Contractor deposited Rs.3.86 Crores towards their liability.

Rs. 6,087 crore IGST refund sanctioned in 2nd Special Refund Fortnight

June 20, 2018 606 Views 0 comment Print

By the end of 16th June, 2018, Rs.6,087 crore IGST refund has been sanctioned in the refund fortnight. The interesting facts during the second fortnight are (i) about 1,68,191 shipping bills have been processed (ii) IGST refund claims of about 9,293 exporters have been sanctioned including about 3500 new exporters, whose refunds had been held up, have got their refund sanctioned.

CCI approves acquisition of Monsanto by Bayer AG U/s. 31(7) of Competition Act, 2002

June 20, 2018 561 Views 0 comment Print

CCI approves the acquisition of Monsanto by Bayer AG under Section 31(7) of the Competition Act, 2002, subject to modifications/remedies to address the anti-competitive effects resulting from the said acquisition

Addition for Cash Received Against Sale of Agricultural Land Not Disclosed In Sale Deed

June 20, 2018 23637 Views 0 comment Print

Shri Jafrudin Kaji Vs The ITO (ITAT Ahmedabad) It is an undisputed fact that the assessee sold land for Rs.72 lakhs as evident from the sale deed. Therefore, the argument of the learned counsel for the assessee that the amount of cash deposits represents the sale consideration of agriculture land is without any substance. However, […]

Draft Amendment To Transfer Pricing Rule 10CB related to Computation of Interest Income U/s 92CE

June 20, 2018 1974 Views 0 comment Print

Amendment in Rule 10CB of Income-tax Rules, 1962 in respect of computation of interest income pursuant to secondary adjustment made under section 92CE of Income-tax Act, 1961 – Comments and suggestions

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