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Archive: 04 May 2019

Posts in 04 May 2019

Goods Transport Agency (GTA) In GST

May 4, 2019 55845 Views 13 comments Print

A) Definition As per Notification-12/2017, Clause no-ze, Dt-28.06.17 (Central Tax Rate) a GTA is any person who provides service in relation to transportation of goods by road and issues a consignment note by whatever name called. Thus, it can be seen that issuance of a consignment note is an essential condition for a supplier of […]

Returns of Deposits to be Filed with the Registrar of Companies

May 4, 2019 15135 Views 1 comment Print

Ministry of Corporate affairs is very strict nowadays about the money laundering concept and has decided to take all the details of outstanding money which still falls into the Companies Balance sheet as on 22.01.2019 from 01.04.2014 till 31.03.2019, accordingly Ministry of Corporate affairs has introduced a concept of revised DPT 3 form and ask […]

Income Tax searches on a business group dealing in lotteries

May 4, 2019 633 Views 0 comment Print

Income Tax Investigation Directorate, Chennai conducted searches on a Coimbatore based business group handling the lotteries run by certain State Governments under agreements with them to function as a Marketing Agent.

TDS u/s.194H not deductible on credit card commission retained by banks

May 4, 2019 5643 Views 0 comment Print

ACIT Vs Indian Hotels Company Ltd. (ITAT Delhi) It was the submission of the assessee that credit card commission was out of the realm of section 194H of the Act since there was no principal-agent relationship between the merchant establishment and the bank and, therefore, the provisions relating to tax deduction at source were not […]

Mere use of word agency in agreement not conclusive of relationship between parties

May 4, 2019 759 Views 0 comment Print

Pr. CIT Vs M/s RST India Ltd. (Bombay High Court) It is not disputed that upon termination of the contract, the assessee’s entire business of soliciting freight on behalf of the US based company came to be terminated. It may be that assessee had, other business. Insofar as the question of taxing the receipts arising […]

No GST on extra cigarette packs supplied as part of promotion scheme for consideration

May 4, 2019 2064 Views 0 comment Print

In re Golden Tobacco Limited (GST AAR Maharashtra) The Applicant is seller of Cigarettes, and intends to offer extra quantity of Cigarettes (quantity discount) in addition to normal quantity against same consideration, as a taxable supply to its Distributors from their Depot. As per new marketing strategy devised by the Applicant to promote its brands […]

Clinical Research Services not export if Testing in India on Goods Received in India

May 4, 2019 10611 Views 1 comment Print

In re Cliantha Research Limited (GST AAR Maharashtra) The Applicant would like to seek a ruling on whether the “Clinical Research” services proposed to be provided by them to entities located outside India is liable to Central Goods and Services Tax and State Goods and Services Tax or Integrated Goods and Services Tax or is […]

No GST exemption to applicant for imparting Medical Education in other entity

May 4, 2019 5949 Views 0 comment Print

In re Kasturba Health Society (GST AAR Maharashtra) Question (i): Whether the applicant, a Charitable Society having the main object and factually engaged in imparting Medical Education, satisfying all the criteria of ‘Educational Institution’, can be said to be engaged in the business so as to cast an obligation upon it to comply with the provisions […]

TDS on payments to Non-Residents: An Overview of Section 195

May 4, 2019 25176 Views 9 comments Print

As we are in the era of digital economy, where BEPS action plans has been issued by OECD to tax digital transactions. With the increase in global transactions, Income tax department is also keeping their bird’s eye to the payments made to a non-residents. There has been substantial increase in foreign remittances from India. Indian […]

Practical Guide on GST on Real Estate – FAQs -Part 1

May 4, 2019 5919 Views 0 comment Print

Consequent to changes in the GST on real estate, there are many situational queries being faced by the industry. We address some of the queries through series of FAQs. 1. What could be different decisions making under the real estate sector for the residential apartments and the actions to be taken under each of such […]

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May 2019