"23 July 2018" Archive

CBIC collecting information on GST related issues for MSME

D.O. No. V(30)/DGGST/Tech/82/2018 23/07/2018

As you are aware, in the 28th GST Council Meeting held on 22nd July, 2018, it was decided to have a GST Council Meeting exclusively to focus upon the issues / hardships faced by Micro, Small & Medium Enterprises (MSME) related to GST on 4r5 August, 2018.The session would consider on all aspects of GST with specific focus upon law...

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Gujarat’s economic growth impressive but GST remains a challenge

Gujarat’s rapid progress in key macroeconomic parameters has been impressive and it has shown a lead to the overall economic development but GST remains one of the big challenges ...

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Procedure for nominated agencies to import gold/ silver/ platinum against Export

Circular No. 23/2018-Customs 23/07/2018

Circular No. 23/2018-Customs Dated: 23rd July, 2018- Procedure to be followed by nominated agencies importing gold/ silver/ platinum under the scheme for ‘Export Against Supply by Nominated Agencies’-reg. F.No. DGEP/G&J/22/2018 DIRECTORATE GENERAL OF EXPORT PROMOTION Ministry of Finance, Deptt. of Revenue 8th Floor, Tower-2, LIC, ...

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Income from renting of IT park with services related to its use as technology centers constitutes Business Income

Ambattur Infra Developers Vs The Deputy Commissioner of Income Tax (ITAT Chennai)

Ambattur Infra Developers Vs DCIT (ITAT Chennai) It is not disputed that assessee was a recognized IT park and had rented it out to various software companies. It is also not disputed that assessee had entered into two agreements with its lessees, one for renting out the space and other for providing services and maintenance. […]...

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Deemed Export Benefits for supplies to projects funded by Organizations such as JICA

Policy Circular No. 11/2015-2020-DGFT 23/07/2018

The issue of refund/exemption of TED for supplies to the Projects funded by JICA etc. (other than 1BRD, IDA and ADB) under para 8.2(d) of FTP 2009-14 has been considered in this Directorate in consultation with Department of Revenue and Department of Economic Affairs. ...

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ITAT can direct AO for fresh enquiry into aspects of subject matter of appeal

M/s. Fidelity Business Services India Pvt. Ltd. Vs Assistant Commissioner of Income- tax (Karnataka High Court)

M/s. Fidelity Business Services India Pvt. Ltd. Vs ACIT (Karnataka High Court) Issue- Whether the Income Tax Appellate Tribunal has power under Section 254 of the Income Tax Act, 1961, to give directions for fresh enquiry into the aspects of the subject matter of appeal filed before it either suo motu or on any grounds […]...

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Service Tax on construction of women hostel for Ministry of WCD

National Building Construction Corporation Ltd. Vs CST(CESTAT Delhi)

National Building Construction Corporation Ltd. Vs CST (CESTAT Delhi) Services of construction of women hostel for and on behalf of Ministry of Women and Child Development (WCD), Government of India and construction of Civil Services Offices Institute are not commercial in nature. In furtherance of the decision of Hon’ble Supreme Court ...

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Commission of overseas agents for marketing, procurement of orders not liable to TDS u/s 195

M/s. Evolv Clothing Company Pvt. Ltd. Vs ACIT (ITAT Chennai)

Payment of commission to overseas agents for marketing, procurement of orders and systematic market research was not liable to TDS as the same was not liable to tax in India as per Section 9(1)(vii)....

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Service Tax payable on Consideration received under Vanprastha Ashram Scheme by Patanjali Trust

M/s. Patanjali Yogpeeth Trust Vs C.C.E. (CESTAT Delhi)

M/s. Patanjali Yogpeeth Trust Vs C.C.E. (CESTAT Delhi) Now coming to the demand qua the donations received by the appellant under one of its Scheme called Vanprastha Ashram Scheme, it is held that under this scheme the appellant was leasing the accommodation to all those who are interested to visit the appellant premises till their [&hell...

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Penalty U/s. 271AAB justified on return filed after issue of notice U/s. 142(1)

Sonal Steels Trading Pvt. Ltd Vs ACIT (ITAT Chennai)

Sonal Steels Trading Pvt. Ltd Vs ACIT (ITAT Chennai) Here admittedly, assessee was not maintaining any books. There was thus no question of recording any money, bullion, jewellery or any entry in any books. It is not disputed that assessee had not disclosed any receipts from bill trading before the date of search to the […]...

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