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Archive: June, 2018

Posts in June, 2018

GST on Reactor machine used in Hand Pump for water disinfection

June 22, 2018 1623 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 6525 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 4398 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 18962 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.

Section 80C deduction on Joint Holding of National Saving Certificate

June 22, 2018 41013 Views 1 comment Print

Sec 80C of Income Tax Act, 1961 allows deductions on National Saving Certificate Investment Maximum Limit allowed is Rs 150000/- per Financial Year

Construction of Pooling Substation with transmission line is composite supply: AAR

June 22, 2018 5559 Views 0 comment Print

What is HSN in which the service of construction of new 33/220 kV Pooling Substation at Badwar, REWA along with associated 220 kV DCDS Transmission Line and associated feeder bay work on total Turnkey basis against Bid Identification No. RUMS/2016-17/372/014 (Lot-I) under World Bank Financing shall fall?

No GST on project management consultancy services under PMAY contract

June 22, 2018 9201 Views 2 comments Print

Whether the Project Development and Management Consultancy services (‘PDMC’) provided by Applicant to recipient under the Contract for AMRUT; and the Project Management Consultancy services (‘PMC’) under the Contract for PMAY would qualify as an activity in relation to function entrusted to Panchayat or Municipality under Article 243G or Article 243W respectively, of the Constitution of India?

Investments which qualifies for deduction u/s. 80C

June 22, 2018 831336 Views 165 comments Print

Under this section, you can invest a maximum of Rs 1.50 lakh (1 Lakh upto AY 2014-15) and if you are in the highest tax bracket of 30%, you save a tax of Rs 45000. The various investment options under this section include:PPF; Life Insurance Premium, Equity Linked Savings Scheme (ELSS), Provident Fund (PF) & Voluntary Provident Fund (VPF)

Notification No. 57/2018-Customs (N.T.), Dated-22.06.2018

June 22, 2018 4524 Views 0 comment Print

MINISTRY OF FINANCE (Department of Revenue) Notification No. 57/2018 – Customs (N.T.) New Delhi, the 22nd June, 2018 G.S.R.582(E).— In exercise of the powers conferred by section 11 of the Customs Act,1962 (52 of 1962), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby makes the following […]

Intellectual Property Rights (Imported Goods) Enforcement Amendment Rules, 2018

June 22, 2018 9597 Views 0 comment Print

1 (i) These rules may be called the Intellectual Property Rights (Imported Goods) Enforcement Amendment Rules, 2018. (ii) They shall come into force on the date of their publication in the Official Gazette.

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