"27 February 2019" Archive

Bogus ITC Case: HC denies Bail as bail of co-accused already been dismissed

Sandeep Goyal Vs Union of India (Rajasthan High Court)

Sandeep Goyal Vs Union of India (Rajasthan High Court) Petitioners have filed this petition under Section 439 Code of Criminal Procedure, 1973 seeking regular bail in Criminal Complaint No.35/2018 for offence under Sections 132(1)(b)(c)(d)(f)(i) & (i) of the Central Goods and Service Tax Act, 2017 read with Section 132(1), (i) & (...

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ITC not admissible on ambulances purchased for employees benefit: AAR

In re Nipha Exports Pvt Ltd (GST AAR West Bangal)

In re Nipha Exports Pvt Ltd (GST AAR West Bangal) Whether ITC is admissible on ambulances purchased for the benefit of the employees under legal requirement of the Factories Act, 1948. It is evident from above that input tax credit on inward supply of ambulance, being a motor vehicle, is not admissible under Section 1 […]...

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Transaction not Bogus for mere non-existence of parties at given address

Karam Chand Rubber Industries (p) Ltd. Vs ACIT (ITAT Delhi)

The assessee has duly discharged its initial onus by submitting sufficient proof substantiating purchase and the payment is also routed through banking channel, simply because of non-existence of parties at the given address, the transaction cannot be treated as bogus and no addition can be made accordingly....

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Depreciation on public roads is allowable @10%

CIT Vs GVK Jaipur Kishangarh Expressway Ltd. (Rajasthan High Court)

Depreciation was allowable @10% on public highway road treating the same as building. It was held assessee was granted license for construction against which it had right to use and collect license fee to use of the land. It had right to restrict the people without non payment of toll tax. It was not only road, they had to construct toll ...

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Refund of excess duty paid cannot be denied on basis of not reassessing bill of entries

Micromax  Informatics Limited Vs Union of India (Bombay High Court )

Refund applications could not be denied merely because the assessment orders were not challenged by assessee or reassessment of the bill of entries was not done...

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Unconscionability As A Ground To Avoid Agreement

There are various grounds for avoiding an Agreement like Ambiguity, conflicting terms, vague timeline etc. Unconscionability is one such ground on which an agreement can be avoided. Unconscionable contracts are those contracts which are heavily inclined towards one party and impose unfair, harsh conditions on the other party....

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CBDT Revises Corporate Tax collection Targets for FY 2018-19

F. No. 38012/2018-IT (Budget) (27/02/2019)

Revision of the target for collection of Corporation Tax from Rs.6,21,000 Crore to Rs. 6,71,000 Crore under Revised Estimates (RE), the region-wise revised targets for Corporation Tax fixed on the basis of current trends of growth and revenue potential of the regions, are as under: –...

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GST AAR Tamilnadu allows withdrawal of application to Texmo Industries

In re M/s. Texmo Industries (GST AAR Tamilnadu)

In re M/s. Texmo Industries (GST AAR Tamilnadu) The Applicant vide their letter dated 15.02.2019 has requested withdrawal of the Advance Ruling Application filed before the authority. The application filed by the Applicant for advance ruling is dismissed as withdrawn. FULL TEXT OF ORDER OF AUTHORITY OF ADVANCE RULING, TAMILNADU Note : Any...

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Classification of plastic Seedling Trays and applicable rate of GST

In re Mr. Janakiraman Govindarajan Prop. of M/s. Valuemax Poly Plast

1. Agricultural Seedling Trays made of base material of Polypropylene Granules manufactured by the Applicant as Plastic are classifiable under CTH 39269099.2. The applicable tax rate is 9% CGST as per Sl. No. 111 of Schedule III of Notification No 01/2017-C.T. (Rate) dated 28.06.2017 as amended and is 9% SGST as per Sl.No. 111 of Schedule...

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GST on Printing and Post Pre-examination Items

In re Orient Press Limited (GST AAR Maharashtra)

In re Orient Press Limited (GST AAR Maharashtra) Questions:- 1. Whether supply of service of : (i) Printing of Pre-examination items like question papers, OMR sheets (Optical Mark Reading), answer booklets; (ii) Printing of Post-examination items like marks card, grade card, certificates to the educational boards of up to higher secondary...

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