"07 May 2019" Archive

SOP for visit to premises for verification of GST registration particulars

Circular No. 4/2019-GST (07/05/2019)

Circular No. 4/2019 – GST Registered Tax Payers – Validation of Registration details furnished – SoP for visit to taxable person’s premises for verification of registration particulars. Office of the Commissioner of State Goods and Services Tax Department, Government of Kerala, Thiruvananthapuram No. CT/1267/2019-C1 Dated 07/05/20...

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Transfer cannot be considered merely on the basis of registered agreement

Appasaheb Baburao Lonkar Vs ITO (ITAT Pune)

Appasaheb Baburao Lonkar Vs ITO (ITAT Pune) Wherein the initial contract was between the parties on the ground that the assessee would get permission of other co-owners numbering about 13 so as to transfer immovable asset to the purchasers. This was the basic condition of the said agreement between the parties. Admittedly, the said permis...

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Addition for Capitation Fee should be made against collages instead of Parents

Shri R. Bhoopathy Vs CIT (Madras High Court)

Shri R. Bhoopathy Vs CIT (Madras High Court) he scourge of Capitation Fee by Medical and Engineering Colleges is an infamous and thoroughly extortionist act that is going on in the education sector in our country and it is almost a known fact that these so called Educational Institutions act more like Business Houses rather […]...

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Deemed Registration on Non-disposal of registration application u/s.12AA within 6 Months

M/s.Kanchipuram Vaniga Vaisya-Dharma Paripalana Sangam Vs CIT (E) (ITAT Chennai)

M/s. Kanchipuram Vaniga Vaisya-Dharma Paripalana Sangam Vs CIT (E) (ITAT Chennai) Admittedly, this application seeking registration u/s.12AA of the Act, was filed on 10.07.2014. The Sub-section 2 of Sec. 12AA stipulates that an order granting or refusing the registration under Clause-B of Sub-Sec.2 shall be passed before the expiry of the...

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Denial of exemption U/s. 11 to registered Trust for mere non- producing evidence of registration U/s. 12A/12AA is invalid

Rotary Club of Poona Downtown Charitable Trust Vs ITO (E) (ITAT Pune)

In the present case, the assessee trust has made ample efforts for procuring information from the Department regarding duplicate copy of registration certificate. The Department was not able to provide any copy of the registration certificate. ...

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HC to formulate substantial question of law & only thereafter hear appeal on merits: SC

PR. CIT Vs A. A. Estate Pvt. Ltd (Supreme Court of India)

PR. CIT Vs A. A. Estate Pvt. Ltd (Supreme Court) There lies a distinction between the questions proposed by the appellant for admission of the appeal and the questions framed by the Court. The questions, which are proposed by the appellant, fall under Section 260­A (2) (c) of the Act whereas the questions framed by […]...

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Maximum entries in single online ANF 3D application increased

Public Notice No. 07/2015-2020 -DGFT (07/05/2019)

The number of entries of shipping bills/ Airway bills which can be filed in a single online ANF 3D application has been increased from 50 to 250 for claiming MEIS benefit....

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DGFT notifies CA/CWA/CS Certificate for claiming SEIS benefits

Public Notice No. 06/2015-2020-DGFT (07/05/2019)

Documentary Evidence in the form of a CA/CWA/CS Certificate, which certifies that payments in INR for services rendered as under Appendix 3E have been scrutinized and these payments in INR are approved under RBI guidelines as deemed to be  received in foreign exchange and deemed to be earned in foreign exchange - is required to be ...

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Govt notifies Revised conditions for import of Electronics & IT Goods

Notification No. 05/2015-2020-DGFT [S.O. 1701(E)] (07/05/2019)

Import Policy and Policy condition for import of Electronics and IT Goods is laid down by amending Note No 2(c) under the General Notes Regarding Import Policy and inserts Policy Condition No 2 under Chapter 84 and as Policy Condition No. 5 under Chapter 85 of ITC (HS) 2017. Government of India Ministry of Commerce […]...

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Govt permits Supply of essential commodities to Maldives during 2019-20

Notification No. 04/2015-2020-DGFT (07/05/2019)

Export of Potatoes, Onions, Rice, Wheat Flour, Sugar, Dal and Eggs has been permitted to the Republic of Maldives under bilateral trade agreement between Government of India and Government of Maldives during the period 2019-20 w.e.f. April, 2019 as per the quantities indicated in the Table at Para I above. The export of above items to Rep...

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Processing of applications received for import of Peas and Pulses

Trade Notice No. 09/2019-2020-DGFT (07/05/2019)

Processing of applications received in response to Trade Notice No.06/2019-20 dated 16th April, 2019 for import of Peas and Pulses for the fiscal year 2019-20. Government of India Ministry of Commerce and Industry Department of Commerce Directorate General of Foreign Trade TRADE NOTICE NO. 09/2019-2020 New Delhi, Dated the 7th May, 2019 T...

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GST: Casual & Non-Resident Taxable Person- Registration, Return, Refund, ITC, Invoice

Trade Circular (GST) No. 18T of 2019 (07/05/2019)

Trade Circular (GST) No. 18 T of 2019 explains information related to  Casual Taxable Person (CTP) and Non-Resident Taxable Person (NRTP) of GST Registration, GST Return, GST Refund, Input Tax Credit (ITC) and Tax Invoice. Office of the Commissioner of State Tax, 8th Floor, GST Bhavan, Mazgaon, Mumbai. TRADE CIRCULAR No. JC(HQ)-1/GST/201...

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SEBI (Listing Obligations and Disclosure Requirements) (Second Amendment) Regulations, 2019

Notification No. SEBI/LAD-NRO/GN/2019/12 (07/05/2019)

SEBI notifies Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) (Second Amendment) Regulations, 2019 which shall come into force on the date of their publication in the Official Gazette. SECURITIES AND EXCHANGE BOARD OF INDIA NOTIFICATION Mumbai, the 7th May, 2019 SECURITIES AND EXCHANGE BOARD OF IND...

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GST on Real Estate Sector- 41 FAQs (Part I)

F. No. 354/32/2019-TRU (07/05/2019)

A number of issues have been raised regarding the new GST rate structure notified for real estate sector effective from 01-04-2019. A compilation of Frequently Asked Questions (FAQs) is presented below. Also Read- GST on Real Estate: CBIC release FAQs (Part II) F. No. 354/32/2019-TRU Government of India Ministry of Finance Department of R...

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SEBI (Issue and Listing of Debt Securities) (Amendment) Regulations, 2019

Notification No. SEBI/LAD-NRO/GN/2019/13 (07/05/2019)

Securities and Exchange Board of India (Issue and Listing of Debt Securities) (Amendment) Regulations, 2019 shall come into force on the date of their publication in the Official Gazette....

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Admissibility of Input Tax Credit of GST Paid on Maintenance Services – A Case Study

The admissibility of input tax credit is not free from controversies under GST like pre-GST regime. There are many cases where Orders passed by the Advance Ruling Authority as well as Appellate Authority for Advance Ruling in the favour of the department and only few orders are in the favour of the assessees. ...

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Declare PAN /Aadhaar while paying membership fees/applying Fellowship: ICSI

Members would henceforth be required to declare their PAN (mandatory) and Aadhaar / UID Number (optional) at the time of making online payment of annual membership fees and while applying for Fellow membership of the Institute in Form-B....

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Extension of time for CEP Credit Hours for renewal of COP for CMAs

It has been decided by the Council of the Institute to grant extension upto 31st July, 2019 to complete the requirement of CEP credit hours for renewal of COP of the members for the year 2019-20....

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Advisory for Simplified Auto Registration at ICEGATE

In a bid to simplify auto registration for the IEC holders, the Central Board of Indirect Taxes and Customs ( CBIC ) has informed that the IEC holders can register with the Goods and Services Tax Identification Number (GSTIN). It was said that no Digital Signature is required for the same. The facility is now […]...

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GST Composition Scheme: Procedure for Tax Payment & Return Filing

Special Procedure For Payment of Tax And Filing Of Returns For Tax Payers Under Composition Scheme Introduction: In order to provide relief of compliance and cumbersome procedure for small tax payers GST has introduced the scheme of composition. Under this scheme, a tax payer with few restrictions can operate easily in the business with r...

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November 2020