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Archive: 25 July 2019

Posts in 25 July 2019

AO has a legal obligation to implement order of ITAT strictly: HC

July 25, 2019 3078 Views 0 comment Print

Lokesh Chandrappa Vs ITO (Karnataka High Court) It is trite law that the Assessing Officer has a legal obligation to implement the order of the ITAT strictly and such failure would result in the failure of justice. A writ of mandamus would be issued in such circumstances to the respondent – Assessing Officer to carry […]

IBBI (Insolvency Resolution Process for Corporate Persons) (Second Amendment) Regulations, 2019

July 25, 2019 1686 Views 0 comment Print

IBBI amended the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 on 25 July 2019 vide Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Second Amendment) Regulations, 2019. The amendments specify the process for withdrawal of applications before constitution of CoC, after constitution of CoC […]

IBBI (Liquidation Process) (Amendment) Regulations, 2019

July 25, 2019 2196 Views 0 comment Print

Salient amendments affected by the Insolvency and Bankruptcy Board of India (Liquidation Process) (Amendment) Regulations, 2019 are: (i) The amendments specify the process for (a) sale of corporate debtor as going concern, and (b) sale of business of corporate debtor as going concern under liquidation. These also provide that where a corporate debtor is sold […]

IBBI (Information Utilities) (Amendment) Regulations, 2019

July 25, 2019 1458 Views 0 comment Print

These regulations may be called the Insolvency and Bankruptcy Board of India (Information Utilities) (Amendment) Regulations, 2019. They shall come into force on the date of their publication in the Official Gazette.

IBBI amends Insolvency Resolution and Liquidation Process Regulations

July 25, 2019 351 Views 0 comment Print

The IBBI amends the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 and the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016

ITC on supply for in-house hospital providing free medical facilities to employees

July 25, 2019 5166 Views 0 comment Print

In re M/s. Chennai Port Trust (GST AAR Tamilnadu) The applicant is not entitled to take credit of input tax charged on the inward supply of medical, diagnostic equipment, apparatus, instruments, consumables, disposables, spares and repairing services for these, which are used to provide medical facilities to the employees, pensioners and dependents in the in-house […]

No ITC on supply of medicines used to provide medical facilities to employees in the in-house hospital

July 25, 2019 20385 Views 0 comment Print

The applicant is not entitled to take credit of input tax charged on the inward supply of medicines which are used to provide medical facilities to the employees, pensioners and dependants in the in-house hospital.

AAR cannot rule on HSN code in absence of technical details of relevant supply

July 25, 2019 1188 Views 0 comment Print

In re Prism Fluids LLP (GST AAR Tamilnadu) The questions raised seeking rulings are (1) the applicable rate of tax for Circulating Oil Systems/ Lube Systems and (2) HSN Code. The applicant in their application has stated that the circulating Oil Systems consist of a suitable sized tank, made of mild steel material with partitions […]

GST rate on mixture of flour, pulses, grams & cereals: AAR allows withdrawal of Application

July 25, 2019 4173 Views 0 comment Print

In re M/s. S.P. Jeyapragasam (HUF) (GST AAR Tamilnadu) The Applicant has preferred an application seeking Advance Ruling  asking Applicable GST rate on the mixture of flour, pulses, grams, and cereals. The applicant in their undated memo received by AAAR on 17th July 2019 submitted that they are not willing to proceed further in the […]

HSN Code for fruit beverages or drinks- AAR allows withdrawal of Application

July 25, 2019 5709 Views 0 comment Print

In re M/ s. S.P. Jeyapragasam(HUF) (GST AAR Tamilnadu) Applicant seek ruling on following grounds-  1. What is the rate of tax and HSN Code for fruit beverages or drinks with HSN Code? 2. The definition under the FSSAI Act in section 2.3.3.A can be taken as an aid to classify the product? If so […]

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