"17 December 2018" Archive

New Able2Extract Professional 14: Create Electronic Signatures and Sign PDFs Digitally

A PDF tool with all the features users might need for personal and business use is either a hard thing to find or too expensive for most. Even though there are a lot of one-dimensional programs that deal with just one or a couple of tasks well, we wanted to ease your search for an […]...

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Posted Under: Corporate Law |

Depreciation allowable on public roads by treating as buildings

PCIT Vs GVK Jaipur Expressway Ltd. (Supreme Court of India)

Whether in the facts and circumstances of the case, Hon’ble ITAT was justified in allowing the claim of depreciation on public roads treating the same as building which is not permissible in law?...

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CBIC exempts BCD and IGST for imports by NTRO

Notification No. 81/2018–Customs (17/12/2018)

CBIC partially amends notification No. 37/2017-Customs dated 30.06.2017 in order to exempt BCD and IGST for imports by NTRO. GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) Notification No. 81/2018–Customs New Delhi, the 17th December, 2018 G.S.R. 1214(E).– In exercise of the powers conferred by sub-section (1) of ...

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ITAT explains presumption theory that advances to sister concerns are made from own funds

ACIT Vs Janak Global Resources Pvt. Ltd (ITAT Chandigarh)

ACIT Vs Janak Global Resources Pvt. Ltd (ITAT Chandigarh) Where sufficient own interest free funds are available with the assessee, the presumption arises that the assessee had utilised those funds for the purpose of making interest free non business advances. Thus in very clear terms the Hon’ble Apex Court in the case of Hero Cycle...

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No AAR ruling on applicability of GST notification due to insufficient information

In re Madhya Pradesh Pashchim Kshetra Vidyut Vitaran Company Limited (GST AAR Madhya Pradesh)

In re Madhya Pradesh Pashchim Kshetra Vidyut Vitaran Company Limited (GST AAR Madhya Pradesh) We find from the application that the Applicant has made a specific mention of Sr. No.3A to notification no. 12/2017, which provides NIL rate of GST for composite supply of goods and services where the value of supply of goods constitute [&hellip...

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Taxi aggregators to pay GST on services provided by taxi drivers: AAAR

In re OPTA Cabs Private Limited (GST AAAR Karnataka)

In re OPTA Cabs Private Limited (GST AAAR Karnataka) The appellate authority for advance ruling upheld the rulings passed under section 98(4) of the GST Act 2017 vide NO. KAR ADRG 14/2018 dated 27/07/2018 ie the services of transportation of passengers supplied through the Appellant’s electronic platform and digital network would be lia...

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MEIS benefit on Sal / Kokam Oil & Mango Butter (cultivated) notified

Public Notice No. 60/2015-2020 (17/12/2018)

Sal Oil, Kokam Oil and Mango Butter (cultivated) have been made eligible for MEIS benefits at the rate of 5% for exports made with effect from the date of publication of this Public Notice....

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Extension of ad-hoc appointments of 222 Officers in ACIT grade

Office Order No. 211 of 2018 (17/12/2018)

F.No.A-32013/5/2016-Ad.V1 Government of India Ministry of Finance Department of Revenue (Central Board of Direct Taxes) North Block, New Delhi. The 17th December, 2018. Office Order No. 211 of 2018 In continuation of CBDT’s Office Order No. 196/2017 dated 13.11.2017, the President is pleased to extend the ad-hoc appointments of the ...

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West Bengal Taxation Laws (Amendment) Act, 2018

No. 2227-L.—17th December, 2018 (17/12/2018)

(1) This Act may be called the West Bengal Taxation Laws (Amendment) Act, 2018. (2) Save as otherwise provided, this section shall come into force with immediate effect, and the other provisions of this Act shall come into force on such date as the State Government may, by notification in the Official Gazette, appoint and different dates ...

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SEBI proposes Early Warning Mechanism to prevent diversion of client securities

SEBI/HO/MIRSD/DOP/CIR/P/2018/153 (17/12/2018)

There have been instances where stock brokers had diverted clients’ securities received as collaterals towards margin obligations and / or settlement obligations, for raising loan against shares on their own account and / or for meeting securities shortages in settlement obligations on its own account. ...

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