"20 March 2019" Archive - Page 3

GST Rate on works contract service in respect of Original Works pertaining to construction of a Low Cost House in Affordable Housing Project

In re Puranik Construction Pvt. Ltd. (GST AAR Maharastra)

:- The question/issue before Your Honor is eligibility of Notification 01/2018-Central Tax (Rate) dated 25.01.2018 which provides for concessional rate of GST @ 12% on supply of works contract service in respect of Original Works pertaining to construction of a Low Cost House in an Affordable Housing Project' (AHP)....

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CBDT notifies SEBI (Mutual Funds) Regulations, 1996 U/s. 9A(9)(e)

Notification No. 27/2019-Income Tax [S.O. 1420(E).] 20/03/2019

In exercise of the powers conferred by clause (e) of sub-section (9) of section 9A of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies the Securities and Exchange Board of India (Mutual Funds) Regulations, 1996 made under the Securities and Exchange Board of India Act, 1992 (15 of 1992) as the regulation for t...

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CBDT notifies HUDCO U/s. 194A(3)(iii)(f)

Notification No. 26/2019-Income Tax [S.O. 1399(E)] 20/03/2019

Central Government hereby notifies the Housing and Urban Development Corporation Ltd. (HUDCO), New Delhi for the purpose of Section 194A(3)(iii)(f) of Income Tax Act, 1961....

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In absence of Reasons for invoking rule 8D Disallowance U/s. 14A not valid

Pr. CIT Vs Moonstar Securities Trading & Finance Co. (P) Ltd. (Delhi High Court)

Pr. CIT Vs Moonstar Securities Trading & Finance Co. (P) Ltd. (Delhi High Court) In this case for both years, the assessee had offered amounts as disallowance claiming them to be expenditure for tax exempt income. The assessing officer merely proceeded to reject such amount as expenditure and straightaway applied rule 8D without adduc...

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Addition u/s 68 was justified in respect of unexplained creditors shown as bogus

ITO Vs Sri Tadi Vasudeva Rao (ITAT Visakhapatnam)

AO was justified in making addition under section 68 of credit balance showing in assessees books of accounts against the Nil balance shown by the creditors in their books of accounts as on verification of the books of accounts of the creditor it was found that there was no balance outstanding against assessee and the same indicated that ...

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GST payable on services by Inner Wheel Clubs: West Bangal AAAR

In re Association of Inner Wheel Club of India (AAR GST West Bangal)

In re Association of Inner Wheel Club of India (GST AAAR, West Bangal) Goods and Services Tax is levied on intra-State and inter-State supply of goods and services. According to Section 7 of GST Act, the expression ‘supply’ includes all forms of supply of goods or services or both such as sale, transfer, barter, exchange, [&he...

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Extension of IGST & Cess exemption under AA, EPCG & EOU scheme upto 31.03.2020

Notification No. 57/2015-2020-DGFT [S.O. 1400(E)] 20/03/2019

Amendments to Foreign Trade Policy 2015-2020 - Extension of Integrated Goods and Service Tax (IGST) and Compensation Cess exemption under Advance Authorisation, EPCG and EOU scheme upto 31.03.2020....

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Framework for Utilization of Regulatory Fee Foregone by SEBI

SEBI/HO/CDMRD/DMP/CIR/P/2019/40 20/03/2019

SEBI has reduced the regulatory fee on Stock Exchanges with respect to turnover in agricultural commodity derivatives. The objective was to reduce the cost burden on farmers/FPOs from the amount saved by the Exchanges due to reduction of regulatory fee....

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Consultation Paper Issuance of shares with Differential Voting Rights [DVRs]

Securities and Exchange Board of India 1. BACKGROUND 1.1. There is increasing debate about the need to enable issuance and listing of shares with differential voting rights, commonly known as DVRs in India; and dual class shares or DCS in the international context. Such shares have rights disproportionate to their economic ownership. In p...

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Reporting & Accounting of Central Govt Transactions of March 2019

RBI/2018-19/143DGBA.GBD.No.2394/42.01.029/2018-19 20/03/2019

Reserve Bank of India RBI/2018-19/143 DGBA.GBD.No.2394/42.01.029/2018-19 March 20, 2019 All Agency Banks Dear Sir / Madam, Reporting and Accounting of Central Government Transactions of March 2019 Please refer to Circular DGBA.GBD.No.2324/42.01.029/2017-18 dated March 19, 2018 advising the procedure to be followed for reporting and acco...

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