"23 December 2018" Archive

Addition for Issue of Share by Start-ups at Premium- No coercive measures to recover Tax

F.No.173/14/2018-ITA-I Government of India Ministry of Finance Department of Revenue (CBDT) North Block, New Delhi, Dated 24-December, 2018 To, All Principal Chief Commissioners of Income-tax Madam/Sir Subject: – Determination of fair market value of unquoted equity shares of ‘Start Up’ companies under section 56(2)(vii...

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Posted Under: Income Tax |

Derivative Transaction Loss is not Speculation Loss & can be adjusted against Business Income

M/s. Sucon India Ltd Vs JCIT (ITAT Delhi)

M/s. Sucon India Ltd Vs JCIT (ITAT Delhi) Loss suffered by assessee on derivative transaction is not speculative loss and as such eligible to be adjusted against business income and Explanation 73 of the Income Tax Act is not attracted. FULL TEXT OF THE ITAT JUDGMENT Appellant, M/s. Sucon India Ltd. (hereinafter referred to as […]...

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Join Online GST Certification Course by Taxguru & MSME Covering Recent Changes

Due to overwhelming response and feedback from previous batches, TaxGuru, GST Professionals and Govt. of India (Ministry of M.S.M.E) announces its Jan’ 2019 Batch for Advanced Online GST Certification Course. Learn GST in a Practical way and become an Expert in this field....

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Polypropylene Leno Bags falls under GST Tariff Heading ‘3923 29 90’

In re Utkal Polyweave Industries Pvt Ltd. (GST AAR Odisha)

In re Utkal Polyweave Industries Pvt Ltd. (GST AAR Odisha) Tariff heading 3923 includes goods that are classifiable as ‘Articles for the conveyance or packing of goods, of plastics; stoppers, lids, caps and other closures, of plastics’. Polypropylene Leno Bags, as stated by the applicant, are manufactured by weaving polypropyl...

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GST Advance ruling application rejected as not filed as per Rules

In re Chinta Polu Philip (GST AAR Chhattisgarh)

The applicant has already been reminded twice. The Application is hereby REJECTED as it has not been filed as per the act and rules of State GST act and/or Central GST act....

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GST on membership & registration fees paid by BCSBI members

In re The Banking Codes And Standards Board Of India (GST AAR Maharashtra)

In re The Banking Codes And Standards Board Of India (GST AAR Maharashtra) Whether GST is liable to be paid on the contribution made by Members towards ‘Annual Membership Fees and registration fees’ to the Corups Fund of Banking Codes And Standards Board Of India (BCSBI) and recurring expenditure  being incurred? We find that...

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Gurudev Siddha Peeth allowed to withdraw GST advance ruling application

In re Gurudev Siddha Peeth (GST AAR Maharashtra)

The Application in GST ARA form No. 01 of Gurudev Siddha peeth, vide reference ARA 35 dated 07.03.2018 and revised dated 23.05.218 is disposed off as being withdrawn unconditionally....

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ICA Pidilite allowed to withdraw GST advance ruling application

In re ICA Pidilite Private Limited (GST AAR Maharashtra)

The Application in GST ARA form No. 01 of ICA Pidilite Private Limited, vide reference ARA No. 42 dated 20.06.2018 is disposed off as being withdrawn unconditionally....

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Sampada Caterers allowed to withdraw GST advance ruling application

In re Sampada Caterers Proprietor Mrs. Sampada Santosh Hedaoo (GST AAR Maharashtra)

In re Sampada Caterers Proprietor Mrs. Sampada Santosh Hedaoo (GST AAR Maharashtra) The present application has been filed under section 97 of the Central Goods and Services Tax  Act, 2017 and the Maharashtra Goods and Services Tax Act, 2017 [hereinafter referred to as “the CGST and MGST Act”] by SAMPADA CATERERS, PROPRIETOR ...

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Sodexo allowed to withdraw GST advance ruling application

In re Sodexo Food Solutions India Private Limited (GST AAR Maharashtra)

In re Sodexo Food Solutions India Private Limited (GST AAR Maharashtra) The present application has been filed under section 97 of the Central Goods and Services Tax Act, 2017 and the Maharashtra Goods and Services Tax Act, 2017 [hereinafter referred to as “the CGST Act and MGST Act”] by Sodexo Food Solutions India Private Lim...

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