"20 October 2018" Archive

Very Short Notice is not fair but used as a new tool to harass Assessee & Tax Professionals

Reasonable time for preparation of case by taxpayer must be kept in mind while issuing any notice. While fixing time interval between date of notice and date of hearing at least the following factors must be considered by the authority issuing the notice:...

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Posted Under: Income Tax |

Comprehensive AMC is a composite part of supply & can be taxed: AAR

In Re G.E. Diesel Locomotive (P) Ltd. (GST AAR Uttar Pradesh)

(a) Whether supply of comprehensive annual maintenance service which may also involve incidental supply of spare parts/goods should be classified as a composite supply or mixed supply? (b) In case the said contract is considered as composite supply, what is the principal supply between goods or services?...

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No GST on Cold storage Charges for storing of eggs

In re ShubhLaxmi Cold Storage & Ice factory (AAR Rajasthan)

In re Shubh Laxmi Cold Storage & Ice factory (GST AAR Rajasthan) Whether charges received by the cold storage for providing service of storing of eggs, which is produce of rearing of animals/poultry farming in cold storage is exempted from payment of GST in terms of S.No. 24 of Notification No. 11/2017-CT (Rate) and S.No. 54 [&hellip...

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GST on Traders

This article has been written with a view to educate traders of the key highlights from the GST Laws that would have a bearing on the business carried on by them and to elicit comments, initiate debates and provide a basic understanding to the reader. It is fondly hoped that this article would provide to […]...

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Posted Under: Income Tax |

Service Tax or GST for Development Agreements entered during pre GST period

Introduction In the case of construction projects, it is common to enter into development agreements where the developer undertakes to develop property (residential / commercial) in exchange for the development rights given by landlord. Consideration for such development rights is determined based on some agreed ratio of constructed area ...

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Posted Under: Income Tax |

GST on differential payment on Settlement, Washout or Closure of Cotton Purchase / Sale Contract

In Re Louis Dreyfus Company India Pvt. Ltd. (AAR Punjab)

In forward contracts in cotton sales, being settled with the other party to the contract by way of payment of the differential of forward rate and prevailing market rate on the settlement date, the same would be falling within the purview of 'securities' as defined in Section 2(101) of the CGST Act, 2017 and would therefore not be chargea...

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GST on EPC contract for set up of solar power generating system

In re Solai Redirect India LLP (GST AAR Rajasthan)

In re Solai Redirect India LLP (GST AAR Rajasthan) Whether EPC contract for set up of solar power generating system be considered as a composite supply with PV modules being the principal supply and be taxed at a rate of 5% (i.e. tax rate applicable on the P.V. modules)? As per the statement of facts submitted […]...

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Posted Under: Income Tax |

Section 8 Company Registration (NGO)

This article explains about section 8 company registration. It includes about section 8 company, eligibility criteria, documents required, procedure & advantage, of its registration....

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Posted Under: Income Tax |

Lifting of Corporate Veil

From the juristic point of view, a company is a legal person distinct from its members [Salomon v. Salomon and Co. Ltd. (1897) A.C 22]. This principle may be referred to as the Veil of incorporation. The courts in general consider themselves bound by this principle. The effect of this Principle is that there is a fictional veil between th...

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Posted Under: Income Tax |

GST Rate on supply of Solar Power Generating System

In re Frizo India Private Limited (AAR Rajasthan)

In re Frizo India Private Limited (GST AAR Rajasthan) Applicable GST Rate on supply of Solar Power Generating System- In instant case the nature of work is of Erection, Procurement and Commissioning of Solar Generating System which falls under the ambit ‘Works Contract Services’ (SAC 9954) of Notification no. 11/2017 Central T...

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