"19 March 2019" Archive

Threshold limits for Regular & Composition Registration under GST law

In this article, attempt has been made to enlist various thresholds (as amended from time to time) as prescribed under the GST law for normal registration in different States/UTs, thresholds for Composition registration and a snapshot on Notification No. 2/2019- CT (Rate). Normal GST Registration in case of Goods: Particulars States/UTs R...

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GST rate on real estate sector- Decisions in 34th GST Council meeting

Decisions taken by the GST Council in the 34th meeting held on 19th March, 2019 regarding GST rate on real estate sector GST Council in the 34th meeting held on 19th March, 2019 at New Delhi discussed the operational details for implementation of the recommendations made by the council in its 33rd meeting for lower […]...

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Sale of ice-cream from retail outlet by way of scoops is Supply of ‘goods’

In re Arihant Enterprises (GST AAR Maharashtra)

In re Arihant Enterprises (GST AAR Maharashtra) Question :- 1. Whether supply of ice-cream by the applicant from its retail outlets would be treated as supply of ‘goods’ or supply of ‘service’ or a ‘composite supply’ and subject to GST accordingly? Answer:- The supply of ice-cream by the applicant from ...

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During PMLA investigation property can be attached upto 365 days from 20.03.2019

Notification No. 1/2019 (19/03/2019)

Government notifies that During PMLA investigation property can be attached upto 365 days from 20.03.2019 from the earlier period of 90 days as provided in Finance Act, 2019. MINISTRY OF FINANCE (Department of Revenue) Notification No. 1/2019 New Delhi, the 19th March, 2019 G.S.R. 225(E).—In exercise of the powers conferred by section 2...

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Compliance to be Made by Companies as per recent amendments

Article discusses for new Forms to be filed by Companies under Companies Act, 2013 wghich includes- A. ACTIVE (Active Company Tagging Identities and Verification), B. Form DPT-3 (RETURN OF DEPOSITS), C. Form 20A (Commencement of Business) and D. Form MSME-1. A. ACTIVE (Active Company Tagging Identities and Verification) MCA – E-FORM ACT...

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Bogus Share Premium/Share Capital – Responsibility of Assessee to Prove with Cognet Evidence

Merely because assessee company had filed all primary evidence, it could not be said that onus on assessee to establish credit worthiness of investor companies stood discharged u/s 68 of the Income Tax Act, 1961....

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5% GST payable on supply of Anaerobic Microbial Inoculums (AMI)

In re Ms. Elefo Biotech Pvt. Ltd. (GST AAR Uttarakhand)

In re Ms. Elefo Biotech Pvt. Ltd. (GST AAR Uttarakhand) In the present application, applicant has sought advance ruling for the classification and rate of GST applicable on supply of the products i.e. Anaerobic Microbial Inoculums (AMI)’ manufactured by them. AAR held that that the products i.e. Anaerobic Microbial Inoculums (AMI) w...

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Poly Propylene Leno Bags falls under HSN 3923 of GST Tariff: AAR

In re Ms. Mahalaxmi Poly Pack Pvt Ltd. (GST AAR Uttarakhand)

In re Ms. Mahalaxmi Poly Pack Pvt Ltd. (GST AAR Uttarakhand) Identification of correct classification of Poly Propylene Leno Bags among heading no. 63063300 and 39232990 and rate of duty applicable Subject goods i.e. ‘Poly Propylene Leno Bags’ falls under HSN 3923 of the GST Tariff and therefore, supply of ‘Poly Propylen...

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GST on supply of solar rooftop power plant along with design, erection

In re M/s Premier Solar Systems (P) Limited (GST AAR Uttarakhand)

In re M/s Premier Solar Systems (P) Limited (GST AAR Uttarakhand) (a) Whether the supply of solar rooftop power plant along with design, erection, commissioning & installation is a ‘composite supply’ and the applicability of GST rate’. Supply in question would covered under “Solar Power Generating System”...

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AAR ruling on GST on Polyester Viscose fusing Interlining Woven Fabric

In re Goodwear fashion Pvt Ltd. (GST AAR Uttarakhand)

In re Goodwear fashion Pvt Ltd.  (GST AAR Uttarakhand) Whether Interlining Fabrics is classified under HSN Code 5903 or should be classified as per the blend of Yarn (in chapter 52-55). Specimen fabric i.e. ‘Polyester Viscose fusing Interlining Woven Fabric, partially covered with plastic which leads to plastic coated pattern that ...

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Denial of Tax relief for non-submission of Tax Residency Certificate: ITAT remand back the case to AO

ACIT(IT) Vs Shri Ayan Majumdar (ITAT Kolkata)

ACIT (IT) Vs Shri Ayan Majumdar (ITAT Kolkata) It is not in dispute that the assessee is a non-resident in India and is a tax resident of UK during the year under consideration. It is not in dispute that his employment is exercised in UK. We find that the ld AO had denied the relief […]...

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AAR refers matter to Appellate Authority due to different views on the issue

In re M/s NHPC Limited (GST AAR Uttarakhand)

In re M/s NHPC Limited (GST AAR Uttarakhand) Whether the Notification No. 12/2017-Central Tax (Rate) dated 28.06.2017 (as amended from time to time) is applicable to the contractors/sub-contractors involved in the construction of Indo-Nepal Border Road or otherwise? We have different views on the applicability of GST on the sub-contractor...

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GST on ‘Sight Vision Equipment’ manufactured for being used exclusively in various armoured Tanks

In re Ms. Opto Electronic Factory (GST AAR Uttarakhand)

In re Ms. Opto Electronic Factory (GST AAR Uttarakhand) Classification and Rate of applicable GST on various equipment manufactured for being used exclusively in various armoured Tanks. We observe that the products manufactured and reapired by the applicant i.e. ‘Sight Vision Equipment’ is nothing but an ‘optical instrum...

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GST on licensing services for right to use minerals including its exploration & evaluation

In re M/s Aravali Polyart Pvt. Ltd. (GST AAR Rajasthan)

In re M/s Aravali Poly art Pvt. Ltd. (GST AAR Rajasthan) a. What is the classification of service provided in accordance with Notification No. 11/2017-CT (Rate) dated 28.06.2017 read with annexure attached to it, by the State of Rajasthan to M/s Aravali Polyart Private Limited for which royalty is being paid? Whether said service can [&he...

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Inter-state supplies of used lead acid batteries can be under Margin Scheme: AAR

In re Ms. Shambhu Traders Pvt Ltd. (GST AAR Rajasthan)

In re Ms. Shambhu Traders Pvt Ltd. (GST AAR Rajasthan) 1. The used lead acid batteries qualify to be second hand goods. Accordingly, the Applicant dealer is entitled to operate under the Margin Scheme in respect of the used lead acid batteries. 2. The query raised by the applicant is not specified in Section 97(2) […]...

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GST on Wet Baby/Face Wipes & Bed/Bath/Shampoo Towels

In re M/s. Ginni Filaments Ltd. (GST AAR Gujarat)

In re M/s. Ginni Filaments Ltd. (GST AAR Gujarat) 1. The products (a) Wet Baby Wipes, (b) Wet Face Wipes, (c) Bed and Bath Towels and (d) Shampoo Towels supplied by M/s. Ginni Filaments Limited (GSTIN 24AABCG0942K1ZT) are appropriately classifiable under Heading 3307 or 3401 depending upon their constituents. If these products are impregn...

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Marigold Butterfly Bridal with Watch classifiable under Heading 9101: AAR

In re Ms. House of Marigold (GST AAR Gujarat)

In re Ms. House of Marigold (GST AAR Gujarat)The product Marigold Butterfly Bridal with Watch and similar jewellery products containing watch supplied by M/s. House of Marigold are classifiable under Heading 9101....

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NDDB is a Financial Institution for section 17(4) of CGST Act, 2017

In re M/s. National Dairy Development Board (GST AAR Gujarat)

In re M/s. National Dairy Development Board (GST AAR Gujarat)Whether NDDB can be considered as financial institution for the purpose of availing credit to the extent of fifty per cent of input tax credit, as prescribed in Section 17 of CGST Act, 2017?...

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GST on Immovable property renting services by NDDB to an educational institute

In re Ms. National Dairy Development Board (GST AAR Gujarat)

Renting of immovable property service provided by National Dairy Development Board to an educational institute would be exempted under Sr. No. 4 of Notification No. 12/2017-Central Tax (Rate) and corresponding State Tax Notification, if it qualifies as 'governmental authority'....

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Discount cannot be treated as bogus merely because some parties denied it

Mondal Construction Co. Ltd. Vs ACIT (ITAT Kolkata)

Mondal Construction Co. Ltd. Vs ACIT (ITAT Kolkata) We note that assessee had debited a sum of Rs.10,99,907/-in the profit & loss account on account of discount on sale of flat. However, the Assessing Officer disallowed the said discount stating that some of the parties to whom the discount had been given, had informed that […]...

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Valuation of goods for supply by one distinct entity (factory/depot) to other

In re Kansai Nerolac Paints Limited (GST AAR Maharashtra)

In re Kansai Nerolac Paints Limited (GST AAR Maharashtra) Question: Whether value of supply of goods by one distinct entity (Factory/depot) as defined under sec 25(4) of the CGST Act 2017 as amended to another distinct entity (Factory/depot) can be determined on the basis of our cost of production. Our cost of production depends mainly [&...

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ITAT allows Finance Charges paid to NBFCs without TDS deduction as NBFCs included the same in their Income

ACIT Vs Smt. Champa Nandi (ITAT Kolkata)

ACIT Vs Smt. Champa Nandi (ITAT Kolkata) The Income Tax Appellate Tribunal ( ITAT ), Kolkata has held that the finance charges to Non-Banking Financial Companies (NBFCs) are not subject to Tax Deduction at Source ( TDS ) under the provisions of section 194A of the Income Tax Act. The assessee has debited in his […]...

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Cases of substantial cash deposit during demonetisation period- Reg.

F. No. DGIT(S)-ADG(5)-2/Insight Instructions/292/2018-19 (15/03/2019)

Functionality for viewing information related to Cases of substantial cash deposit during the demonetisation period in which notice under section 142(1) of the I. T. Act has remained non-complied...

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HC should not dismiss appeal for delay in filing when similar issue is pending before HC for earlier A.Y

Anil Kumar Nehru Vs ACIT (Supreme Court of India)

Anil Kumar Nehru Vs ACIT(Supreme Court of India) It is a matter of record that on the identical issue raised by the appellant in respect of earlier assessment, the appeal is pending before the High Court. In these circumstances, the High Court should not have taken such a technical view of dismissing the appeal in […]...

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CBI arrests Enforcement Officer EPFO Accepting Bribe

Central Bureau of Investigation has arrested an Enforcement Officer, working in Employees Provident Fund Organization (EPFO), Nagpur (Maharashtra) for demanding and accepting a bribe of Rs. 50,000/- from the complainant....

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Visakhapatnam Special Economic Zone Authority notified by CBDT U/s. 10(46)

Notification No. 25/2019-Income Tax [S.O. 1398(E).] (19/03/2019)

CBDT notifies ‘Visakhapatnam Special Economic Zone Authority’ under clause (46) of section 10 of the Income-tax Act, 1961 vide Notification No. 25/2019 Dated 19th March, 2019....

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Andhra Pradesh Electricity Regulatory Commission notified by CBDT U/s. 10(46)

Notification No. 24/2019-income Tax [S.O. 1397(E).] (19/03/2019)

CBDT notifies ‘Andhra Pradesh Electricity Regulatory Commission’ under clause (46) of section 10 of the Income-tax Act, 1961 vide Notification No. 24/2019 Dated 19th March, 2019. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) Notification No. 24/2019 New Delhi, the 19th March, 2019 S.O. 1397(E).—In exerc...

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CBDT amends Income Tax Notification No. 17/2012/S.O. 1647(E)

Notification No. 23/2019-Income Tax [S.O. 1396(E).] (19/03/2019)

CBDT amends Income Tax Notification No. 17/2012/s.o. 1647, dated 11-5-2012 MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) Notification No. 23/2019 New Delhi, the 19th March, 2019 S.O. 1396(E).-Whereas the Central Government in exercise of the powers conferred by clause (iii) of sub­section (4) of section 80-I...

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Service Tax on Insurance policies taken for compliance under labour legislations- Cenvat Credit eligible

Nelcast Ltd. Vs. Commissioner of GST & Central Excise  (CESTAT Chennai)

Nelcast Ltd. Vs. Commissioner of GST & Central Excise  (CESTAT Chennai) The issue is whether the appellants are eligible for availing the credit on the service tax on premium paid for insurance policies which are in the nature of group insurance and personal accident insurance. The original authority has discussed the provisions u/s....

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SEBI signs a MOU with IBBI

PR No.: 10/2019 (19/03/2019)

SEBI signed a MoU today with IBBI at Mumbai. The said MoU was signed by Shri Anand R. Baiwar - Executive Director, SEBI and Shri Ritesh Kavdia – Executive Director, IBBI....

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RBI Expert Committee on Micro, Small and Medium Enterprises

Press Release : 2018-2019/2221 (18/03/2019)

As you are aware the Reserve Bank has constituted an ‘Expert Committee on Micro, Small & Medium Enterprises (MSMEs)’ to understand the structural bottlenecks and factors affecting the performance of the sector. The details regarding the constitution and terms of reference of the Committee is available at https://rbi.org.in/Scripts/BS_...

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All about Casual Registration under GST

In this article we are going to study the provisions of Casual taxable person and Casual registration under GST with practical insights into the procedure for Casual Registration. Ques: Who is a Casual taxable person? Ans: As per Section 2(20) of the CGST Act, 2017, “casual taxable person” means a person who occasionally undertakes tr...

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Considerable Points for Staying of Income Tax Demand

Applications seeking of stay of demand during the pendency of first appeal before CIT (Appeals) are generally rejected in a casual manner causing considerable hardships to the assessee. The assessing officers insist to deposit 20% deposit of tax demand as per July 2017 revised guidelines as precondition to grant a stay. However, the same ...

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Bogus ITC: HC rejects anticipatory bail for deliberate miscommunication

Meghraj Moolchand Burad Vs Directorate General of GST (Intelligence) (Bombay High Court)

Meghraj Moolchand Burad Vs Directorate General of GST (Intelligence) (Bombay High Court) The learned counsel appearing for the Investigating Agency has produced on record a letter dated 26.11.2018 addressed by Advocate on record of the applicant to the DGGI, Pune informing him that, the present matter was on board before this Court on 24....

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HC releases Vehicle seized due to Expiry of E-Way Bill

Jaspreet Kalra Vs. Union Of India (High Court of Uttarakhand)

Jaspreet Kalra Vs. Union of India (High Court of Uttarakhand) It is the contention of learned senior counsel that the vehicle of the petitioner has been seized by respondent no.3 thereby imposing a penalty of Rs.5,03,125/- equal to the IGST (the tax amount) on the technical ground that the validity of e-way bill had expired […]...

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I-T Dept continues to hit at terror financing activities in J&K Region

Income Tax Department conducted search actions at 5 locations in the Kashmir Valley on 14th March, 2019. Few places in Jammu were also searched. These actions are part of the Department’s continued drive against use of black money by disruptive elements in the State. The operations also send a message of deterrence and obviation to thos...

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Deduction U/s. 80HH allowable from Gross Profits Instead of Net Income

M/s. Vijay Industries Vs Commissioner of Income Tax (Supreme Court of India)

Reading of Section 80HH along with Section 80A would clearly signify that such a deduction has to be of gross profits and gains, i.e., before computing the income as specified in Sections 30 to 43D of the Act....

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10 most important changes made to tax & Regulatory framework for startups in 2018

10 most important changes made to tax & Regulatory framework for startups in 2018 According to Merriam and Webster, startups means to act of setting in operation or motion. In business terminology, the startups are the young companies which are incorporated by founders or individual to offer a product or service which is not available...

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