Bombay High Court has held that rough and ready formula as formulated by CESTAT regarding availability of Cenvat credit on guest houses, that credit was available only on guest houses situated near the manufacturing unit, was not entirely satisfactorily.
Pr. CIT Vs Dilip Ranjrekar (Karnataka High Court) In the instant case, the investment is made in a new property. The construction was not completed within a period of three years as narrated in section 54 of the Act. The delay was not because of the assessee, but beyond his control, since the construction was […]
In re M/s Dhananjay Kumar Singh (GST AAR Chhattisgarh) (i) Supply of Services of Colony maintenance work to C.G. Housing Board Colony, Sector 29, Naya Raipur with regard to solid waste management, water supply operation, garbage collection door to door and disposal, cleaning of colony i.e. garden .street and op area, drainage system, sewerage, water […]
Monetary Policy Committee (MPC) decided to Keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 6.5 per cent. Consequently, the reverse repo rate under the LAF remains at 6.25 per cent, and the marginal standing facility (MSF) rate and the Bank Rate at 6.75 per cent.
Amendment to notification no. 52/2003-Customs dated 31.03.2003 -reg. GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) Notification No. 79/2018-Customs New Delhi, the 5th December, 2018 G.S.R. (E).— In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the […]
Amendment to notification no. 22/2003-CE, 23/2003-CE & 24/2003-CE all dated 31.03.2003 vide Notification No. 23/2018-Central Excise Dated 5th December, 2018 GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) Notification No. 23/2018-Central Excise New Delhi, the 5th December, 2018 G.S.R. ___ (E).- In exercise of the powers conferred by sub-section […]
Use of external benchmarks by banks for their floating rate loans instead of the present system of internal benchmarks [Prime Lending Rate (PLR), Benchmark Prime Lending Rate (BPLR), Base rate and Marginal Cost of Funds based Lending Rate (MCLR)].
Principal Chief Commissioner of Income Tax, M.P. & C.G., hereby direct that the Commissioner of Income-Tax (Appeals), Bhopal-1, having headquarter at tBhopal, shall exercise the powers and perform the functions in respect of All cases falling within the territorial jurisdiction of Pr CIT / CIT, Bhopal- 1 and 2 and All cases of Black Money […]
1. These Directions shall be called the ‘Non-resident Participation in Rupee Interest Rate Derivatives Markets (Reserve Bank) Directions, 2018. 2. These Directions shall be applicable to Rupee interest rate derivative transactions in India, undertaken on recognized stock exchanges, electronic trading platforms (ETP) and Over-the-Counter (OTC) to the extent stated herein.
The petitioner is an accused for allegedly committing offence punishable under Sections 132(1)(c) of the Central Goods and Services Act, 2017. There is an allegation against this petitioner that he illegally availed Input Tax Credit. The petitioner is in custody since 23.08.2018. Learned counsel appearing for the respondents opposes the prayer for bail and submits that this petitioner has taken the benefit of about Rs. 30 crores illegally by way of Input Tax Credit.
