"10 March 2019" Archive

No property tax for small houses (carpet area less than 500 sq.ft) in Mumbai

MAHARASHTRA ORDINANCE No. XI OF 2019. (10/03/2019)

Mumbai Muncipal Corporation shall not levy property tax leviable under this clause, on residential buildings or residential tenements, having carpet area of 46.45 sq. meter (500 sq. feet) or less....

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Form AOC-5

Every Company shall prepare and keep at its registered office books of account and other relevant books and papers and financial statement for every financial year which give a true and fair view of the state of the affairs of the company, including that of its branch office or offices, if any, and explain the […]...

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Posted Under: Corporate Law |

GST on installation of Comprehensive ‘CCTV based City Surveillance System’ for Maharashtra Govt.

In re Allied Digital Services Ltd. (GST AAR Maharashtra)

In re Allied Digital Services Ltd. (GST AAR Maharashtra) Comprehensive ‘CCTV based City Surveillance System’ can be termed as immovable property for following reasons: 1) CCTV based Surveillance System have permanently been fastened to the things attached to the earth. 2) The CCTV based Surveillance System cannot not be shifte...

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ITC on Gold coins distributed to customers for Sales Promotion

In re Biostadt India Limited (GST AAR Maharashtra)

In re Biostadt India Limited (GST AAR Maharashtra) Question :- The question or issue before Your Honor for determination is whether Input Tax Credit (“ITC”) can be claimed by the applicant on procurement of Gold coins which are to be distributed to the customers at the end of scheme period for achieving the stipulated lifting ...

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GST on supply by Contract Bottling Unit & brand owner to each other

In re Allied Blenders And Distillers Private Limited (GST AAR Maharashtra)

In re Allied Blenders and Distillers Private Limited (GST AAR Maharashtra) Question :- Whether in the facts and circumstances of the present case, the Contract Bottling Unit is making a taxable supply to the Applicant (i.e. Brand Owner), oi . alternatively, whether the Applicant (i.e. brand owner) is making a taxable supply to the. Contr...

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GST on engine manufactured & supplied solely & principally for use in railways/locomotives

In re Cummins India Limited (GST AAR Maharashtra)

In re Cummins India Limited (GST AAR Maharashtra) Question :- Whether engine manufactured and supplied solely and principally for use in railways/locomotives are classifiable under HSN Heading 8408 or under HSN Heading 8607 of the Customs Tariff (which has been borrowed for classification purposes under GST regime) as a part used solely o...

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GST in case of supply of maintenance service with incidental supply of goods

In re Cummins India Limited (GST AAR Maharashtra)

In re Cummins India Limited (GST AAR Maharashtra) Since the supply of maintenance service in the present case is for a single price with supply of spare parts/goods as and when required, the supply of both, goods and services are made in conjunction with each other in the ordinary course of business and therefore considering […]...

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Transaction under MSA between NES India & NES Abu Dhabi is a Zero rated supply

In re Nes Global Specialist Engineering Services Private Limited (GST AAR Maharashtra)

In re Nes Global Specialist Engineering Services Private Limited (GST AAR Maharashtra) Question :- Whether the transaction in question is a Zero Rated Supply or a Normal Supply under GST ACT? Answer :- In view of the discussions we hold that the transaction covered under the MSA dated between the applicant and NES Abu Dhabi […]...

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Section 54F deduction fully allowable despite property purchase in joint names

Shri Bhatkal Ramarao Prakash Vs ITO (ITAT Bangalore)

Assessee was entitled to the benefit of deduction u/s.54F to the whole extent of investment in purchase of new asset, even though property had been purchased in the joint names of assessee, his wife and son....

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Critical Points to be taken care before 31st March 2019

As you are aware that Financial year 2018-19 is about to end, below are some of the points that shall be kept in mind prior to 31st March 2019: 1. Accounting related: a) All Bank Accounts should be reconciled with bank statement. b) Depreciation to be charged in books of accounts as per Companies Act 2013 […]...

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Posted Under: Corporate Law |