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Archive: 12 February 2019

Posts in 12 February 2019

Notification No. 8/2019-Customs (ADD) Dated 12th February, 2019

February 12, 2019 567 Views 0 comment Print

Central Government, hereby makes the following amendments in the notification of the Government of India, in the Ministry of Finance (Department of Revenue), No. 61/2015- Customs (ADD), dated the 11th December, 2015, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 955(E), dated the11th December, 2015, namely:-

Indefinite Sealing of the premises under GST law is illegal: Delhi HC

February 12, 2019 1254 Views 0 comment Print

Ms Napin Impex Private Ltd. Vs Commissioner Of DGST (Delhi High Court) The brief facts are that the petitioner is a registered dealer, which trades inter alia in PVC raisins and other food items such as beverages. The petitioner alleges that its premises were visited by the Revenue authorities on 29.08.2018 when the DGST officials directed […]

Overcoming failures- Inspiration can come only from within!

February 12, 2019 2055 Views 6 comments Print

As Thomas A Edison once said I have not failed I have found 10000 ways that won’t work. What is failure? Dictionary defines failure as a state of not meeting desirable or intended objective. If we try to understand this meaning we can draw a conclusion that the result of our effort was not as per our defined objective.

Cancellation of Bail for offence under GST justified if petitioner threatens witness

February 12, 2019 1080 Views 0 comment Print

Rajesh Jindal Vs Commissioner of Central Tax GST Delhi (West) (Delhi High Court) Counsel for the respondent says that statements have been recorded inter alia of one Sh. Deepak Taneja and Sh. Ravinder Tyagi, both of whom have stated, giving specifics, that the petitioner has threatened them since they were made dummy directors by the […]

Investment Options beyond Section 80C

February 12, 2019 9798 Views 7 comments Print

As the deadline for investments related to tax savings nears, individuals should look at various options to save tax under the Income-tax Act, 1961. Section 80C offers a tax deduction of Rs 1.5 lakh for investment in five-year bank/post office deposits, contribution to Public Provident Fund, Employees’ Provident Fund, life insurance premiums, investment in ELSS […]

Toll charge Collection on behalf of corporate entity liable to service tax under BAS

February 12, 2019 1341 Views 0 comment Print

Compensation received by assessee in respect of collection of toll and other assorted services on behalf of the corporate entity backed by Government was liable to service tax under the head ‘Business Auxiliary Services’ (BAS).

HC reduces penalty for minor lapses in E-way bill to Rs. 5000 from Rs. 18.96 Lakh

February 12, 2019 9732 Views 0 comment Print

Tvl. R K Motors Vs State Tax Officer (Madras High Court) It is also not in dispute that the bill is addressed only to the writ petitioner’s principal office at Sivakasi; delivery alone is to be made at Virudhunagar. I am of the view that even if by mistake, a wrong instruction had been given to the driver of the vehicle to head towards Sivakasi. Still it would not really matter. The only question that the respondent ought to have posed is […]

Annuity paid instead of toll charges to developers is exempt from GST

February 12, 2019 9414 Views 0 comment Print

In re Ms Nagaur Mukundgarh Highways Pvt. Ltd. (GST AAAR Rajasthan) Annuity payment is exempted from GST  in terms of Entry No. 23A of the Notification No.12/2017-Central Tax (Rate) Dt. 28.6.2017. However only 50% ITC of GST paid on Input & Input services used in the construction phase, is available. Full ITC of the GST […]

Receipt of compensation by Sushmita Sen in lieu of settlement of a sexual harassment case not liable to tax

February 12, 2019 3492 Views 0 comment Print

Amount received by SushmitaSen from Coca Cola Company in connection with settlement of a sexual harassment case was not liable to tax as the compensation received could not be termed as any benefit, perquisites arising to the assessee out of the exercise of profession.

Using Information Available at IU Platform for External Confirmations

February 12, 2019 948 Views 0 comment Print

Standards on Auditing (SAs) recognize the importance of ‘External Confirmations’ as audit evidence. Relevant extracts of some SAs regarding external confirmations are reproduced below.

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February 2019