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Archive: 22 June 2018

Posts in 22 June 2018

Plastics Banned in Maharashtra From June 23,2018- Check Whats banned

June 22, 2018 23067 Views 4 comments Print

WHEREAS, concerns about usage and disposal of plastic are diverse and include accumulation of waste in landfills, water bodies and in natural habitats, physical problems for wild animals resulting from ingestion or entanglement in plastic, the leaching of chemicals from plastic products and the potential for plastics to transfer chemicals to wildlife and humans are increasing.

Co-Operative Society cannot be treated as Industry under Industrial Disputes Act

June 22, 2018 3882 Views 0 comment Print

In the present case, merely because the society charged some extra charges from a few of its members for display of neon signs, the society cannot be treated as an industry carrying on business of hiring out of neon signs or allowing display of advertisements. In the premises, the impugned award of the Labour Court suffers from a serious error of jurisdiction.

20% Surcharge on liquor and Beer Sales in Rajasthan from 23.06.2018

June 22, 2018 16029 Views 1 comment Print

Rajasthan Government hereby notifies that the surcharge at the rate of twenty percent shall be levied and collected, on the amount of tax or any sum in lieu of tax payable on the sale of Foreign Liquor, Indian Made Foreign Liquor, Country Liquor and Beer sold by the dealers registered under the provisions of the Rajasthan Value Added Tax Act, 2003 (Act No. 4 of 2003), with effect from 23-06-2018.

HC directs release of goods detained for non-availability of E-way bill considering other documents

June 22, 2018 1425 Views 0 comment Print

E-Way Bill has been made applicable under the Central GST with effect from 1st February, 2018 and was not in place on the date of seizure though the State of U.P. alone has made a provision for the E-Way Bill earlier but that was not applicable to the State of Jharkhand from where the said loader/tipper had started journey.

No Cessation of liability if Amount forfeited is subject matter of civil suit and cannot be taxed

June 22, 2018 939 Views 0 comment Print

Where amount forfeited by assessee against cancellation of booking of flat was subject-matter of civil suit, it could not be said that there was cessation of liability so as to tax such amount as assessee’s income.

Interest on Home Loan- Deduction U/s. 24(b) and in Computation of Capital Gain

June 22, 2018 8901 Views 0 comment Print

Deduction under section 24(b) and computation of capital gains under section 48 being altogether different provisions, interest paid to bank for acquiring capital asset would be eligible as part of cost of acquisition, even if same had been claimed under section 24(b) while computing income from housing property.

GST on Reactor machine used in Hand Pump for water disinfection

June 22, 2018 1173 Views 0 comment Print

In re Taraltec solutions private limited (GST AAR Maharashtra) GST Rate Applicability on reactor machine which is used in Hand Pump for water disinfection Reactor, in the case of the applicant is nothing but a filtering or purifying machinery/apparatus for liquids. Apparatus used for filtering or purifying water falls under Heading 8421 21 attracting 9% […]

Application for restoration should not be decided only on technical approach

June 22, 2018 5616 Views 0 comment Print

When the applications are filed to restore the same, the Courts are expected to look into the matter not only in the technical angle but also it needs blending of humanity looking to the nature of the case for which the restoration is sought. Otherwise the Court would start emitting danger signals.

Sec. 195 No TDS deductible if sum is not chargeable to tax

June 22, 2018 4149 Views 0 comment Print

Revenue is in appeal against the judgment of the Income Tax Appellate Tribunal, Rajkot Bench dated 28th August 2017, raising the following question for our consideration

Tax planning under section 80C – Investment avenues

June 22, 2018 17672 Views 14 comments Print

As per Section 80C of Income tax act, an individual can make use of this provision to the extent of INR 150,000 in a particular year. In other words, an individual can claim exemption from income to the extent of Rs. 150,000 or actual investment made, whichever is less.

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June 2018