"17 June 2019" Archive

IGST refunds mechanism to verify IGST payments

Circular No. 16/2019-Customs (17/06/2019)

The procedure for claiming IGST refunds is fully automated as provided under Instruction 15/2017-Cus dated 09.10.2017. It has come to the notice of the Board that instances of availment of IGST refund using fraudulent ITC claims by some exporters have been observed by various authorities...

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All about Contribution in Limited Liability Partnership (LLP)

Form/Manner of Capital contribution As per the provisions of Section 32 of Limited Liability Partnership Act, 2008, contribution of a partner may consists of tangible, movable or immovable or intangible property or other benefit to the limited liability partnership, including money, promissory notes, other agreements to contribute cash or...

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Posted Under: Custom Duty |

Representation on Post Sale Commercial Credit Notes for Price Reduction

Our submission is that if the supplier has not reduced its GST liability to the extent of the relevant amount, issuance of such commercial credit notes for price discounts do not result in any loss to the exchequer and a clearly worded notification saying that no tax liability will arise in such cases, either on the supplier or the recipi...

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Posted Under: Custom Duty |

21 Issues in GSTR-9, 9A & GSTR-9C and request to extend due date

Tax Bar Association requested to resolve issues in filing of GSTR-9, 9A & GSTR-9C and extend due date for filing GSTR-9, 9A & GSTR-9C for the year 2017-18. ...

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Transfer of shares cannot be construed as transfer of assets

M/S Gillette India Limited Vs Delhi Development Authority (Delhi High Court)

M/s. Gillette India Limited Vs Delhi Development Authority (Delhi High Court) It is well settled that shares of a company are a separate asset wholly distinct from the assets held by the company. In the present case, there was dilution of the share capital of TGC as well as transfer of shares held by the […]...

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Online Database access fee is Business Income, not Royalty or FTS

Elsevier Information Systems GmbH Vs Dy. Commissioner of Income Tax (ITAT Mumbai)

Elsevier Information Systems GmbH Vs DCIT (ITAT Mumbai) Whether the subscription fee can be treated as fees for technical services. As discussed earlier, it is evident that the assessee has collated data from various journals and articles and put them in a structured manner in the database to make it more user friendly and beneficial [&he...

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Company includes partnership firm | Section 141 | Negotiable Instruments Act

G Ramesh Vs Kanike Harish Kumar Ujwal & Anr. (Supreme Court of India)

G Ramesh Vs Kanike Harish Kumar Ujwal & Anr. (Supreme Court of India) In terms of the explanation to Section 141, the expression ‘company’ has been defined to mean any body corporate and to include a firm or other association of Sub-section (1) of Section 141 postulates that where an offence is committed under Section [&he...

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Central Excise and Service Tax Audit for pre GST period | section 174(2)

Suresh Kumar Singhal Vs Union of India (Rajasthan High Court)

Suresh Kumar Singhal Vs Union of India (Rajasthan High Court) Provision incorporated in the Constitution Act, 2016 as aforesaid, in no manner, restrict the operation of the provisions of section 174(2) incorporated in CGST Act beyond the period of one year, which provides that repeal of the Acts specified in sub-section (1) of section 174...

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Section 276B Prosecution for delay in payment of TDS; Late deposit not absolve accused

ITO vs. Firoz Abdul Gafar Nadiadwala (ACMM)

ITO vs. Firoz Abdul Gafar Nadiadwala (ACMM) t is well established that accused committed alleged offence. Before authority, he also remain absent. Not any application for compounding the offence is filed. It appears that there is culpable mental state of the accused for non depositing of TDS amount within time therefore, he is liable for ...

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Posted Under: Custom Duty |

Officers of GST department think they are above law; HC stays provisional attachment order

Patran Steel Rolling Mill Vs Assistant Commissioner of State Tax (Gujarat High Court)

One fails to understand why the concerned officer has at all attended the proceedings, if he had not bothered to come with the files. It is evident that the concerned officer must be availing of leave as well as other benefits for the purpose of coming from Bhavnagar to Ahmedabad. However, in absence of the files, the entire purpose of co...

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