"16 March 2019" Archive - Page 2

No GST on Delayed electricity Payment charges: AAAR

In re M/s TP Ajmer Distribution Limited (GST AAAR Rajasthan)

In re M/s TP Ajmer Distribution Limited (GST AAAR Rajasthan) AAAR held that no GST is chargeable on the delayed payment charges collected from the consumers for delay in payment of consideration for supply of electricity. While GST is chargeable on the cheque dishonor charges collected ( by whatever name) from the consumers. Also Read [&h...

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No GST on supply of Cold storage services for Agriculture Produce: AAAR

In re Sardar Mal Cold Storage & Ice Factory (GST AAAR Rajasthan)

In re Sardar Mal Cold Storage & Ice Factory (GST AAAR Rajasthan) The Appellant had submitted a list of various products categorised from Group A to Group C and the process done on those agriculture commodities before they come into cold storage in order to seek advance ruling that whether the goods which comes for […]...

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GST on interest on short term loan given by Del Credere Agent to buyers

In re M/s. Shreenath Polyplast Pvt. Ltd. (GST AAAR Gujarat)

Whether an amount charged as interest on transaction based short term loan given by the Del Credere Agent (DCA) to buyers of material is exempt from tax in terms of the Notification No. 12/2017-Central Tax (Rate) dated 28.06.2017 (Serial Number 27) ?...

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GST payable on interest charged by Del Credere Agent from customers: AAAR

In re M/s. Shreenath Polyplast Pvt. Ltd. (GST AAAR Gujarat)

In re M/s. Shreenath Polyplast Pvt. Ltd. (GST AAAR Gujarat) The Del Credere Agent (DCA) makes payment to the principal in respect of goods supplied to the customer through him (DCA) in case of failure of making payment by the customer. Once the DCA makes the payment of goods to the principal on behalf of […]...

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Jewellery products containing watch classifiable under Heading 9101

In re M/s. House of Marigold (GST AAAR Gujarat)

In re M/s. House of Marigold (GST AAAR Gujarat) Gujarat Appellate Authority confirms the Advance Ruling given by Gujarat advance ruling authority and rejects the appeal filed by House of Marigold. The products ‘Marigold Butterfly Bridal’ with watch and similar jewellery products containing watch classifiable under Heading 9101. Also R...

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NCLT Has Jurisdiction Over Issues Related to Insolvency – Delhi HC

Liberty House Group Pte Ltd Vs State Bank of India & Ors. (Delhi High Court)

National Company Law Tribunal shall have jurisdiction to entertain or dispose of any question of law or facts, arising out of or in relation to the insolvency resolution or liquidation proceedings of the corporate debtor or corporate person under the Code...

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Legal Fees paid for transfer of Shares allowable as deduction from LTCG

AIG Offshore Systems Services Inc. Vs ACIT (ITAT Mumbai)

Legal and professional fees paid in connection with the transfer of shares was allowable as deduction from long term capital gain under section 48(i) as the expenditure incurred was wholly and exclusively in connection with the transfer of shares of the Indian Subsidiary....

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Exemption U/s 54F allowable on capital gain on sale of depreciable assets

Shri Shrawankumar G. Jain Vs ITO (ITAT Ahmedabad)

Assessee was entitled to claim exemption under section 54F on gain earned on the sale of factory shed as factory shed inherently being long-term capital asset as per the provision of Section 2(42A) even if sale of factory shed was subject to short-term capital gain on the basis of deeming provision as specified under section 50. ...

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Redemption fine for infraction of law not allowable U/s 37

Pr. CIT Vs Sushil Gupta (Bombay High Court)

Assessee was not entitled to claim redemption fine as business expenditure under Section 37 as the same was for the infraction of law committed by assessee. ...

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Equality of Treatment at the Hands of Law is an Essential Attribute of Rule of Law: HC

Pr. CIT Vs M/s. Starflex Sealing India Pvt. Ltd. (Bombay High Court)

Pr. CIT Vs M/s. Starflex Sealing India Pvt. Ltd. (Bombay High Court) Held- Court requested revenue that the State takes a consistent view and does not agitate matters on which the Court has already taken a view, without pointing out the earlier order of this Court to the subsequent Bench. Court’s endeavor is only to […]...

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