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Archive: 21 August 2018

Posts in 21 August 2018

Live Course on Appeal, Pleading & Drafting under GST by CA Sachin Jain

May 15, 2024 6501 Views 0 comment Print

oin us for an immersive live course led by renowned expert CA Sachin Jain, as we delve into the intricacies of appeal, pleading, and drafting under GST.

Sanction u/s 151 is mandatory for issuing notice u/s 147

August 21, 2018 3657 Views 0 comment Print

Sonu Khandelwal Vs ITO (ITAT Jaipur) Section 150(1) provides exception to the limitation provided U/s 149 for issuing notice U/s 148.  Therefore, Section 150 of the Act can be pressed into service in a particular case of reopening based on the directions or giving effect to the order of the appellate authority only when the time […]

Service Tax under GTA: Debit Note can’t be treated as Consignment Note

August 21, 2018 1650 Views 0 comment Print

M/s Rathi Tiles Pvt. Limited Vs CCE (CESTAT Delhi)  The question which has been decided by the lower authorities is whether the appellant is liable to pay service tax by considering such debit notes as consignment notes. I have perused the various case laws cited by both The issue which stands settled in the various […]

Acid oil produced by conscious process of soap stock liable to excise duty

August 21, 2018 801 Views 0 comment Print

Raha Oils (P) Ltd. Vs Commissioner of Central Excise & Service Tax (CESTAT Chennai) it is pertinent to note that the dispute in this appeal is not on the excisability or otherwise of the ‚Soap Stock‛. The nub of controversy is whether ‘Acid Oil’ and ‘Soap Sludge’ which are obtained by further conversion of such […]

Companies (Appointment and Qualification of Directors) Fifth Amendment Rules, 2018

August 21, 2018 4029 Views 0 comment Print

MCA has notified new format of Form No. DIR-3 KYC and extended due date of filing DIR-3 KYC from 31st August, 2018 to 15th September, 2018 vide Companies (Appointment and Qualification of Directors) Fifth Amendment Rules, 2018.

GSTR 3B July 2018 date extended to 24th Aug, 2018

August 21, 2018 68907 Views 4 comments Print

Extension of Last Date for filing GSTR-3B for July, 2018 extended till 24th August, 2018 for all class of taxpayers As per PIB also The last date for Filing of Return in FORM GSTR-3B for the month of July, 2018 has been extended till 24th August, 2018 for all class of taxpayers by the Competent […]

Input Credit under GST- Explained with Examples

August 21, 2018 9519 Views 1 comment Print

Input Tax Credit under GST is the most common word associated with the present day taxation regime. Input Tax Credit incorporated in the GST mechanism in order to minimize the cascading effect (tax on tax). In an ideal tax mechanism, taxes never become a part of the cost of a product, until it reaches the ultimate final consumer.

Duty Exemption on goods imported for Kerala Flood Relief

August 21, 2018 924 Views 0 comment Print

Notification No. 59/2018 -Customs dated 21.08.2018 seeks to exempt BCD & IGST on goods imported for donation for relief & rehabilitation of the people of Kerala affected by the floods upto 31.12.2018. GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) Notification No. 59/2018–Customs New Delhi dated the 21st August, 2018 G.S.R. 789(E).- In exercise […]

Amendment to SEBI Circular on KYC Requirements for FPIs

August 21, 2018 840 Views 0 comment Print

The existing FPI structures not in conformity with the requirement specified at para 2(c) of the aforesaid circular were required to change their structure or close their existing position in Indian securities market within six months from the date of the circular.

Applicability of Exp. 10 to section 43(1)–Sales tax incentive for setting-up industries

August 21, 2018 4857 Views 0 comment Print

Everest Industries Limited Vs JCIT (ITAT Mumbai) The perusal of the Package Scheme of Incentive, 1993 reflect that the scheme was formulated to give incentive for setting up the industries in certain belts of Maharashtra and for the purpose of working out the amount of subsidy, though the cost of eligible investment was taken as […]

Import Policy of bio-fuels revised from ‘Free’ to ‘Restricted’

August 21, 2018 1425 Views 0 comment Print

Import Policy of bio-fuels revised from ‘Free’ to ‘Restricted’ and allowed for non-fuel purpose on Actual user basis as per the National bio-fuel Policy, 4 June 2018.

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