"10 August 2018" Archive

PAN Sole identifier for all participants transacting in securities market

Securities and Exchange Board of India (SEBI), vide circular dated April 27, 2007, has mandated that PAN would be the sole identification number for all participants transacting in the securities market, irrespective of the amount of transaction....

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Posted Under: SEBI |

GST on services provided by Industrial Training Institutes (ITI)

Circular No. 55/29/2018-GST 10/08/2018

CBIC clarifies vide CIRCULAR No. 55/29/2018- GST on (a) Whether GST is payable on vocational training provided by private ITIs in designated trades and in other than designated trades. and on (b) Whether GST is payable on the service, provided by a private Industrial Training Institute for conduct of examination against consideration in t...

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HC declines demand of Common GST investigations of units by Lemon Tree Hotel Gorup

Lemon Tree Hotels Ltd. Vs. Union of India (Delhi High Court)

Lemon Tree Hotels Ltd. Vs. Union of India (Delhi High Court) The petitioner had approached this Court claiming directions that common investigations be carried out having regard to the nature of its business functioning and having regard to the fact that M/s. Lemon Tree Hotels Ltd. maintains common accounts and, therefore, prepares balanc...

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Cash Discount cannot be disallowed for mere non-mention of same on Invoice

M/s. Sai Krishna Agencies Medak Vs Asstt. (ITAT Hyderabad)

M/s. Sai Krishna Agencies Medak Vs Asstt. (ITAT Hyderabad) We find that the AO had made some enquiries from the customers to find out if they received any discounts from the assessee, but the assessee has not been confronted with the findings of such an ex-parte enquiry report. This is in clear violation of principles of […]...

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FORM GSTR-3B to continue till March, 2019- CBIC notifies due date

Notification No. 34/2018–Central Tax [G.S.R. 761(E)] 10/08/2018

CBIC prescribe the due dates for filing FORM GSTR-3B for the months from July, 2018 to March, 2019 vide Notification No. 34/2018–Central Tax dated 10th August, 2018...

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Due dates to file GSTR-1 -Turnover upto Rs.1.5 Crore- July 2018 to March 2019

Notification No. 33/2018–Central Tax [G.S.R. 760(E)] 10/08/2018

CBIC prescribes due dates for quarterly furnishing of FORM GSTR-1 for those taxpayers with aggregate turnover of upto Rs.1.5 crores for the period from July, 2018 to March, 2019 vide Notification No. 33/2018–Central Tax dated 10th August, 2018...

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Due dates to file Form GSTR-1 -Turnover more than 1.5 Crore- July 2018 to March 2019

Notification No. 32/2018–Central Tax [G.S.R. 759(E)] 10/08/2018

G.S.R……(E). - In exercise of the powers conferred by the second proviso to sub-section (1) of section 37 read with section 168 of the Central Goods and Services Tax Act, 2017 (12 of 2017) (hereafter in this notification referred to as the said Act), the Commissioner, on the recommendations of the Council, hereby extends the time limit...

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Service tax payable on service of foreign institutions availed in getting ECBs

M/s. Paramount Communications Ltd. Vs CCE (CESTAT Delhi)

M/s. Paramount Communications Ltd. Vs CCE (CESTAT Delhi) It is a matter of record that the appellant assessee have availed services of certain foreign based agencies for receiving external foreign commercial borrowings (ECB) from abroad. It is also a matter of fact that during 2006 to 2007, certain payments in the form of commission have ...

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Deemed dividend Law applies only to Accumulated Profits at start of relevant FY

Sri Srikanth Marru Vs ITO (ITAT Hyderabad)

Sri Srikanth Marru Hyderabad Vs ITO (ITAT Hyderabad) There is a nexus between the loan taken from the LIC and the premium paid for the Keyman Insurance Policy. Since the Keyman Insurance Policy is for the benefit to the assessee, it was held that the same is taxable as deemed dividend u/s 2(22)(e) of the […]...

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Addition U/s 68 not justified for Mere Non-Production of Director of Share Holder Company

Moti Adhesives P. ltd. Vs ITO (ITAT Delhi)

Moti Adhesives P. ltd. Vs ITO (ITAT Delhi) Mere non production of Director of said share holder company cannot justify adverse inference u/s 68 of the Act. Even if there was any doubt if any regarding the creditworthiness of the share applicants was still subsisting, then AO should have made enquiries from the AO of […]...

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