"21 May 2019" Archive

Tax on road or bridge access service during 08.11.2016 to 01.12.2016

Circular No. 212/2/2019-Service Tax (21/05/2019)

The service that is provided by toll operators is that of access to a road or bridge. toll charges being merely a consideration for that service. On MoRTH/ NHAI's instructions, for the period 8-11-2016 to 1-12-2016 this service of access to a road/bridge was continued to be provided without collection of consideration from the actual user...

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Forced Merger in the history of India – Classic example of Limited Liability of a Company

The Supreme Court recently set aside order of compulsory and forced merger between 63 Moons Technologies Ltd (Formerly known as Financial Technologies India Ltd FTIL) and its subsidiary National Spot Exchange of India Ltd (NSEL). It was the first time in history that Govt. invoked Section 396, for non-government companies, which provides...

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Posted Under: Service Tax |

An Appraisal on provisions under GST relating to land owners

1. What is TDR ? Transfer of Development Rights (TDR) is a voluntary, incentive- based program that allows landowners to sell development rights from their land to a developer or other interested party who then can use these rights to increase the density of development at another designated location. Taxability of TDR’s w.e.f 01-04-200...

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Posted Under: Service Tax |

Seat of Tribunal to decide Appellate Court u/s 260A /269: Bombay HC

Pr. CIT Vs M/s. Sungard Solutions (I) Pvt Ltd (Bombay High Court)

Pr. CIT Vs M/s. Sungard Solutions (I) Pvt Ltd (Bombay High Court) Seat of the Tribunal (in which State) would decide the jurisdiction of the Court to which the appeal would lie under the Act.  In the present case, the orders were passed by the Bangalore Bench of the Tribunal (even if the assessment was […]...

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Onus to prove that transaction were benami rests on plaintiff: SC

Mangathai Ammal (Died) through LRs Vs Rajeswari & Others (Supreme Court of India)

Mangathai Ammal (Died) through LRs Vs Rajeswari & Others (Supreme Court) In the case of Jaydayal Poddar it is held that the burden of proving that a particular sale is benami and the apparent purchaser is not the real owner, always rests on the person asserting it to be sold. In P. Leelavathi it is […]...

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Dehusking of Paddy to obtain Rice is ‘Manufacture’ for sec 80IA/IB deduction

CIT Vs M/s. Muthuramalingam Modern Rice Mill (Madras High Court)

CIT Vs M/s. Muthuramalingam Modern Rice Mill (Madras High Court) Conclusion: Conversion of Paddy into Rice by the process of de-husking would amount to “maufacture” as not only the form underwent a change but also the value addition happened by such process as a different commercial article came into being and therefore, asses...

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CBDT releases draft New FORM No. 10B and rule 17B

F No 370142/6/2019-TPL (21/05/2019)

Rule 17B of the Rules provide that said report of audit of the accounts of a trust or institution shall be in Form No. 10B. The Form No 10B besides providing the Audit Report provides for filing of Statement of particulars as Annexure....

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Analysis of Companies (Significant Beneficial Owners) Rules, 2018 

Amendments in Section 89 & 90 was one of the major amendments brought in by the Companies (Amendment) Act, 2017. Later on, MCA on June 14, 2018  through notification, has enforced the amended provisions of Section 90 of the Companies Act, 2013 and has introduced the Companies  (Significant Beneficial Owners) Rules, 2018...

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Posted Under: Service Tax |

List of details required for Form MSME-1 & DPT-3

Brief of the Details required for the purpose of MSME-1 & DPT-3 Details required for Form MSME-1 1. Total outstanding amount as on the date of notification i.e. 22ndJanuary 2019. 2. of Supplies for which the amount is due for more than 45 Days from the date of supply of Goods or Services. 3. Particulars […]...

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Posted Under: Service Tax |

Liability of Real Estate Developers & Works Contractors under GST

Developers 1. The real estate developers are ordinarily known as builders for residential or commercial use or both and the said construction is undertaken for sale of units to individual buyers along ordinarily with land underneath the structure without retaining any right, at the end of the project,in respect of land and buildings. Afte...

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Posted Under: Service Tax |