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Archive: October, 2018

Posts in October, 2018

AO not justified in not allowing standard deduction from annual letting value

October 23, 2018 882 Views 0 comment Print

Chand N. Bhojwani Vs DCIT (ITAT Mumbai) AO was bound to compute the tax payable by the assessee on the income computed by him even if it was at a lesser figure than the income returned by the assessee. AO was unjustified in not giving full effect to the assessee on having himself assessed such […]

Owner of goods to procure a RFID seal from destination warehouse

October 23, 2018 828 Views 0 comment Print

Allowing the owner of the goods to procure a RFID seal from the destination warehouse also obviate the need for development of any universal application by all vendors or the need for procuring multiple readers by warehouse owners.

Compensation for business termination resulting in Income Source Loss is Capital Receipt

October 23, 2018 6444 Views 0 comment Print

Compensation received by assessee on closure of business activity was for sterilization of the profit making apparatus of assessee-company; therefore, the same was capital receipt.

No AAR ruling on consideration of Third Party Export for Foreign Trade Policy

October 23, 2018 3165 Views 0 comment Print

Whether the goods exported out of India directly by the manufacturer mentioning the applicant as Third Party Exporter for the purpose of Foreign Trade Policy will be considered as exports at the hands of the Applicant under the GST laws?

Amendment of import policy condition of Pet Coke

October 23, 2018 2199 Views 0 comment Print

Import of 0.5 MT per annum of Pet Coke for anode making by the Aluminium Industry and 1.4 MT per annum for producing calcined pet coke by the Calcined Pet Coke Manufacturing units is allowed with Actual User Condition.

SEBI (Regulatory Fee On Stock Exchanges) (Amendment) Regulations, 2018

October 23, 2018 987 Views 0 comment Print

1. These Regulations may be called the Securities and Exchange Board of India (Regulatory Fee on Stock Exchanges) (Amendment) Regulations, 2018. 2. They shall come into force with effect from April 1, 2018:

GST payable on commission from website users, pundits or Brahmins

October 23, 2018 5949 Views 1 comment Print

In re Sadashiv Anajee Shete (GST AAR Maharashtra) In the present case we find that applicant and recipient are not related persons and price received is sole consideration. We further see that these services are given by the applicant in his business models to choose the type of model. In all the three business models […]

Mouth freshener comes Under Chapter Heading 2106 & 18% GST chargeable

October 23, 2018 21240 Views 0 comment Print

In re M/s. Prem Ghan Products (GST AAR Madhya Pradesh) We find that the present application seeks Ruling on appropriate classification of goods manufactured by the Applicant and marketed and supplied as Mouth Fresheners. The Applicant have submitted that they have been manufacturing and supplying the impugned item by classifying the same under Chapter 2106 […]

Interest u/s 201(1A)- Up to Date of Payment or date of filing return of income?

October 23, 2018 41454 Views 0 comment Print

Medicare TPA Services India Pvt. Ltd. Vs ACIT-TDS (ITAT Kolkata) Interest u/s 201(1A) of the Act could be charged only upto the date of payment of taxes by the deductees and not upto the date of filing of return of income. We find lot of force in this argument of the ld AR in as […]

Consultancy & support services are composite supply in GST

October 23, 2018 6711 Views 0 comment Print

Delve into the detailed analysis of the GST AAAR Maharashtra ruling on Five Star Shipping’s intermediary services. Learn about the classification, implications, and conclusions drawn.

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