"16 July 2019" Archive - Page 3

GST payable under RCM on licensing services for right to use minerals

In re PKR Projects and Engineers (GST AAR Andhra Pradesh)

In re PKR Projects and Engineers (GST AAR Andhra Pradesh) The applicant sought to know whether such a royalty paid/dead rent on account of mining rights was liable to tax in the hands of applicant under the reverse charge mechanism or not and If so, what is the rate of GST- payable on the royalty/ […]...

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GST on Tool Amortisation cost on Capital Goods received on return basis

In re M/s. Toolcomp Systems Private Limited (GST AAR Karnataka)

Clarification regarding applicability of Tool Amortisation cost (Transaction Value) in GST Regime on Capital Goods received freely on returnable basis from the recipients (Customer) for parts production and supply....

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Allotment of flats as sales value amounts to investment in new residential house

Pr. CIT Vs Mr. Peter Savio Pereira (Bombay High Court)

Pr. CIT Vs Mr. Peter Savio Pereira (Bombay High Court) The Tribunal notices that the assessee had received sale consideration partly in cash and partly in form of new flats to be constructed and to be allotted to the assessee. The Tribunal, therefore, correctly came to the conclusion that the assessee’s investment in such new [&hell...

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Govt appoints Sri Sudipta Bhattacharya, Director, as Statistics Officer

Notification No: 10 16/07/2019

Ministry of Commerce and Industry, Government of India now appoints Sri Sudipta Bhattacharya, Director, as Statistics Officer, under Collection of Statistics Act, 2008....

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Foreign Exchange Management (Deposit) (Amendment) Regulations, 2019

Notification No. FEMA 5 (R) 2/2019-RB / G.S.R. 498 (E) 16/07/2019

(i) These Regulations may be called the Foreign Exchange Management (Deposit) (Amendment) Regulations, 2019. (ii) They shall come into force with effect from the date of their publication in the Official Gazette....

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CBIC Transfer & Posts 190 Commissioner / Pr. Commissioners

Office Order No. 101/2019 16/07/2019

Vide office Order No. 101/2019 dated 16th July, 2019 CBIC makes 190 transfers/postings in the grades of Pr. Commissioner / Commissioner of Customs, GST & Central Excise . Office Order No. 101/2019 dated 16th July, 2019 F.No. A-22011/07/2019-Ad.II Government of India Ministry of Finance Department of Revenue Central Board of Indirect...

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Budget 2019 Rationalizes provisions of Prohibition of Benami Property Transactions Act

The existing provisions of section 23 of the Prohibition of Benami Property Transactions Act (‘the PBPT Act’) provide that the Initiating Officer, with the prior approval of the Approving Authority, shall conduct any inquiry or investigation. This power is exercised by the Initiating Officer where no case is pending before him. Howeve...

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Return of expired Drugs and medicines in GST

The common trade practiced followed in case of pharmaceutical sector is that the drugs or medicines are sold by manufacturer to the wholesaler and then further to the retailer on the basis of Invoice or Bill of supply as the case may be. It is noteworthy that these goods have a definite life (expiry date) […]...

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e-way bill issues- HC orders release of conveyance of transporter as he was not the real culprit

M/S Bharat Vijay Transport Co. Vs State of Gujarat (Gujarat High Court)

It appears that instead of tracing out the real culprit, the respondents are seeking the easy way out by penalising the transporter who prima facie does not appear to have doubted the person who engaged it for transport of the goods as an invoice and e-way bill were produced by him, and recovering the tax, penalty and fine from him....

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CBDT denies Large Scale Changes in ITR Forms wef 11th July 2019

NA 16/07/2019

CBDT  said that there are no changes in the notified ITR forms; only the utility has been updated to facilitate the taxpayers. Therefore, the assertion that numerous changes have been made in ITR-2 and ITR-3 on July 11, 2019, does not give a correct picture. Government of India Ministry of Finance Department of Revenue Central […]...

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