Court held that interest on fixed deposits in the bank would be profits and gains derived from any business of an industrial undertaking. The same reasoning would apply to extend deductions under Section 80IA of the Act for the compensation received for non supply of spare parts. T
Similarly the services rendered by out door caterers is clearly distinguishable from the service rendered in a restaurant or hotel inasmuch as, in the case of outdoor catering service the food/eatables/drinks are the choice of the person who partakes the services.
GSTR – 1 return basically contains the sales transactions i.e. outward supplies of taxable goods or services. GSTR – 1 return can be filed monthly and quarterly based on the turnover of the taxpayer. If the turnover of the taxpayer is less than INR 1.5 Crore, GSTR – 1 return has to be filed quarterly and if the turnover is more than INR 1.5 Crore, GSTR – 1 return has to be filed monthly.
DCIT Vs M/s. Creative Technotex (P.) Ltd. (ITAT Kolkata) Assessee contended that during the year commission was paid to the parties and incentive was also paid to several persons, who physically collect the money from different places as per the direction of the team employed. According to the assessee, this is not commission but incentive […]
M/s. Talbros Engineering Ltd. Vs ACIT (ITAT Delhi) Assessee had made a payment of sum of Rs.5,75,860/- for participation in exhibition to M/s. Messee Franfurt Trade Fairs India (P) Ltd. for a stall in the international trade fair for the automobile industry. The payment made by the assessee is not in dispute which is evident from […]
SC in Constitution Bench of Five Judges judgment in the case of Commissioner of Customs (Import) Mumbai Vs. M/s Dilip Kumar and Company and Ors has held that the benefit of ambiguity in exemption notification (which is subject to strict interpretation) cannot be claimed by the subject/assessee and it must be interpreted in favour of the revenue/state.
In re Ecool gaming solutions private limited (GST AAR Maharashtra) In the present case, applicant is recipient of supply in the form of lottery and is located in Maharashtra. The supplier of lottery is the State Government of Mizoram which is located outside State .Therefore as per the provisions of Section 7(1) of the IGST […]
Form No. BEN-1 would be revised. As such, the due date of 10th September, 2018 for filing BEN-1 declaration would be revised and a revised BEN-l form would be notified shortly. General Circular No. 08/2018 F.No.01/01/2018-CL-V GOVERNMENT OF INDIA MINISTRY OF CORPORATE AFFAIRS 5th Floor, ‘A’ Wing Shastri Bhawan, Dr. R.P. Road. New Delhi Dated: 10.09.2018 […]
Arjuna (Fictional Character): Krishna, Lord of knowledge Ganesha would arrive soon to bless his devotees. Everywhere the preparations to welcome Ganesha have begun. Amidst the preparation Government has introduced yearly annual return under GST. What do you say about it? Krishna(Fictional Character): Arjuna, Ganesha is also named as “Vignaharta”. He removes all the obstacles in […]
ICAI has made and announcement on its website on 8th September 2018 regarding Some Videos Circulating on Social Media in which serious questions were raised on examination and evaluation system of ICAI. Today it is found that ICAI removed that announcement from its website which was hosted at the following link- https://icai.org/new_post.html?post_id=15108&c_id=219 Our Readers can […]
