"12 July 2019" Archive - Page 3

Draft Model Tenancy Act, 2019

Press Information Bureau  Government of India Ministry of Housing and Urban Poverty Alleviation 11-July-2019 Model Tenancy Act (MTA) to Promote Growth of Rental Housing Segment by Regulating Renting of Premises  To Balance Interests of Owner & Tenant by Establishing Adjudicating Mechanism for Speedy Dispute Redressal Draft Model Ten...

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Posted Under: Corporate Law |

GST on supply of foods & beverage services provided by educational institutes

The Notification No. 11/2017 CT-(R) dated 28.06.2017 states that the supply of foods and beverages made by institute such as college, school and  hospital etc. shall be liable to GST at the rate of 5%. While Notification No. 12/2017 CT-(R) dated 28.06.2017 provides an exemption for the service provided by the educational institute to its...

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Posted Under: Corporate Law |

DGFT to take Action for recovery of penalty, pending Appeals/Reviews

ECA Circular No. 26/2015-2020-DGFT 12/07/2019

Therefore, all the Adjudicating Authorities in RAs and SEZs are advised to review such cases where adjudication orderswere passed by them and penalty has been imposed. Recovery of penalties should be immediately initiated by the Adjudicating Authorities where no stay has been granted by the Appellate Authority/Reviewing Authority or any c...

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AAR cannot decide on applicability of interest for tax payment in wrong head

In re Venkata Rao Tirupathi (GST AAR Andhra Pradesh)

In re Venkata Rao Tirupathi (GST AAR Andhra Pradesh) Whether section 77(2) of the CGST Act, 2017 is squarely applicable to section 9 of the GST compensation cess Act, 2017 (Compensation to States) in terms of payment of tax in a wrong head? The applicant sought Advance Ruling in an issue of applicability of interest […]...

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No addition of bogus LTCG on sale of shares if assessee proved genuineness of transactions

Shri Amar Nath Goenka Vs The ACIT (ITAT Delhi)

Where assessee placed sufficient documentary evidences before A.O. to prove genuineness of the transaction of sale of shares such as copies of bank statement, Demat account, share purchase documents and share certificate., etc., and no material had been brought on record against assessee to disprove the claim of assessee, addition made un...

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Penalty not leviable if vagueness & ambiguity in recording of satisfaction

Chandu Laxman Chavan Vs DCIT (ITAT Pune)

Chandu Laxman Chavan Vs DCIT (ITAT Pune) While levying penalty, the Assessing Officer invoked only the charge of “furnishing inaccurate particulars of income”. It is evident that while recording satisfaction the Assessing Officer was not clear in his mind as to which charge u/s. 271(1) (c) is to be invoked for initiating penalty. The ...

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Bail denied in Bogus GST Billing / Wrongful ITC Claim Case

Principal Commissioner of Central Tax Vs Supreet Singh Bakshi (Patiala House Courts)

Principal Commissioner of Central Tax Vs Supreet Singh Bakshi (Patiala House Courts) In the case in hand, applicant / accused is stated to be the proprietor of M/s. Swift Enterprises, whereas, his father and brother are stated to be the Directors of M/s. Megabyte I.T. Pvt. Ltd. and his employee Rakesh Kumar Gupta is stated […]...

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Licensing services for right to use minerals classifiable under Tariff Code 997337

In re Kuldeep Singh Butola (GST AAR Uttarakhand)

In re Kuldeep Singh Butola (GST AAR Uttarakhand) (i) The services rendered by GMVN is covered under Serial No. 257 of Annexure appended to Notification No. 11/2017-Central Tax (Rate), dated 28-6-2017 (amended from time to time) as Licensing services for the right to use minerals including its exploration and evaluation. (ii) The service n...

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India’s Demography at 2040: Planning Public Good Provision for 21st Century

India is set to witness a sharp slowdown in population growth in the next two decades. Although the country as a whole will enjoy the demographic dividend phase, some states will start transitioning to an ageing society by the 2030s....

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Posted Under: Corporate Law |

Resolutions which require Special Notice | Section 115 | Companies Act 2013

Section 115 of the companies act 2013 provides that where, any provision contained in this Act or in the articles of a company, special notice is required of any resolution, notice of the intention to move such resolution shall be given to the company by such number of members holding not less than 1% of […]...

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Posted Under: Corporate Law |

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September 2021