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Archive: July, 2018

Posts in July, 2018

The role of insurance in staying financially strong

July 27, 2018 632 Views 0 comment Print

Insurance is a basic expenditure which you must factor for preventing yourself from costs which you perhaps couldn’t afford in case something goes wrong. Car accidents, medical emergencies, theft, accidental damage, and more could happen. For protecting your finances, and securing the future of your family, it’s best to seek out insurance plans such as […]

GST on Free IPL Tickets: HC dismisses PIL filed on the basis of News Reports

July 27, 2018 1125 Views 0 comment Print

Digvijay Singh Bhandari Vs. Shri Nishant Warwade & Others (Madhya Pradesh HC) The entire petition is based on the newspaper published in the local newspaper about distribution of free IPL match passes worth of Rs.60.00 lac to Collector. No other material has been produced in the present petition in support of the allegations. HC held […]

No Service Tax on Fees collected by NIXI from their Accredited Registrars

July 27, 2018 1257 Views 0 comment Print

National Internet Exchange Of India Vs C.S.T. (CESTAT Delhi) The moot question for adjudication in the present case appears to be as to whether the registrar accreditation agreement is a mere agreement between the appellant and its registrar for accreditation or it actually is in agreement for rendering franchise services by the appellant to its […]

GST on deposit of diamond with safe vaults, Conversion in e-Units and vica versa

July 27, 2018 1734 Views 0 comment Print

In re Rajarathnam’s Jewels (GST AAR Karnataka) a) Whether mere deposit of diamond with safe vaults acknowledged by Electronic Vault Receipts (EVR) would be treated as supply for the purpose of levy of GST? The mere deposit of diamond with safe vaults acknowledged by Electronic Vault Receipts (EVR) does not constitute of supply of diamonds […]

GST on Services by corporate office to unit in other states as well i.e. distinct persons

July 27, 2018 9918 Views 0 comment Print

In Re M/S Columbia Asia Hospitals Private Limited (GST AAR Karnataka) Whether the activities performed by the employees at the corporate office in the course of or in relation to employment such as accounting, other administrative and IT system maintenance for the units located in the other states as well i.e. distinct persons as per […]

GST payable on amount billed by Taxi Aggregator on behalf of taxi operators

July 27, 2018 3645 Views 0 comment Print

In re Opta Cabs Private Limited (GST AAR Karnataka) Whether the money paid by the customer to the driver of the cab for the services of the trip is liable to GST and whether the applicant company is liable to pay GST on this amount? The applicant is liable to tax on the amounts billed […]

GST- permission to use stickers for revising retail sale price of pre-packaged commodities

July 27, 2018 4323 Views 0 comment Print

Implementation of GST- permission to use stickers for revising the retail sale price of pre-packaged commodities due to reduction of GST rates on some products w.e.f. 27th July 2018 and to ensure that the benefit of reduction of GST is passed on to the consumers -reg.

Slump Sale applicability: When consideration was not money but equity shares & debentures

July 27, 2018 7620 Views 0 comment Print

Bennett Coleman & Co. case: where the consideration was not money but equity shares and debentures, the transaction was not a Sale but an Exchange, the provisions of Section 50B were not applicable

MCA to update KYC of Directors | New E-form DIR-3 KYC notified

July 27, 2018 10962 Views 1 comment Print

The following points to be taken into account as per DIR-3 KYC for providing details and information: Every Director who has been allotted DIN on or before 31st March, 2018 and whose DIN status is ‘Approved’ would be mandatorily required to file form DIR-3 KYC.

Analysis of amendments in Form 3CD Tax Audit Report

July 27, 2018 41019 Views 1 comment Print

Analysis of the amendments made in Form 3CD by Notification No. 33/2018-Income Tax dated 20 July 2018 w.e.f. 20th August 2018. As effective date of amended Tax Audit Report From 3CD is 20th August 2018. Hence, it appears that Tax Audit Reports in From 3CD furnished prior to 20 August 2018 need not include enhanced […]

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