"28 August 2019" Archive

Section 68 not applies to Swapping of shares

ITO Vs Saffron Comtrade Pvt. Ltd. (ITAT Kolkata)

This is a simple case of acquiring shares of certain companies from certain shareholders without paying any cash consideration and instead the consideration was settled through issuance of shares to the respective parties. That is, section 68 of I.T. Act, 1961 does not apply to cases of purchase of share assets and allotment of shares by ...

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CBDT clarifies differential taxation of FPIs and domestic investors

NA (28/08/2019)

It has come to the notice of CBDT that an incorrect perception was being created in a section of the media inasmuch as if the announcements made by FM on last Friday, which brought in a number of responsive structural measures to boost up the economy, had created a differential regime between FPIs and domestic investors including AIF cate...

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MSME Act 2006- How far it has succeeded in combating the menace of ‘Delayed Payments’

Inder Chand Jain The Indian Economy is passing through a period of acute recession. The Government itself has accepted that the country is gripped with recession. The sales, production, order position have gone down drastically and the MSME sector is the worst affected. On top of this, the issue of delayed payments has broken the [&hellip...

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Posted Under: Income Tax |

Transfer & Posting of 134 Additional/joint Commissioner of GST

Office Order No. 120/2019 (28/08/2019)

CBIC Office Order No. 120/2019 dated 28th August, 2019 for 134 transfer and posting in the grades of Additional/joint Commissioner of Customs, GST and Central Excise. Office Order No. 120/2019 No.A-22011/02/2019-Ad.II Government of India Ministry of Finance Department of Revenue Central Board of Indirect Taxes & Customs New Delhi, the...

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CBDT chairman gets one year extension of term

No.18/60/2016-EO(SM.11) (28/08/2019)

The Appointments Committee of the Cabinet (ACC) has approved re-appointment of Shri Pramod Chandra Mody, Chairman, Central Board of Direct Taxes (CBDT) as Chairman, CBDT upon his superannuation on 31.08.2019, for a period of one year with effect from 01.09.2019 to 31 08.2020 or until further orders, whichever is earlier....

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Pune Court notified as Special under companies Act for 8 districts of Maharashtra

Notification No. S.O. 3120(E) (28/08/2019)

Court of District Judge-1 and Additional Sessions Judge, Pune- designated as special court for Pune, Ahmednagar, Kolhapur, Solapur, Satara, Sangli, Ratnagiri and Sindhudurg districts of the State of Maharashtra under for the purpose of providing speedy trial of offences punishable with imprisonment of two years or more under Companies Act...

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Greater Mumbai Court notified as Special under companies Act for Maharashtra except 8 districts

Notification No. S.O. 3119(E), (28/08/2019)

Presiding Officers of Court No’s. 37 and 58 of the City Civil and Sessions Court, Greater Mumbai is designated as special Court for Whole State of Maharashtra except Pune, Ahmednagar, Kolhapur, Solapur, Satara, Sangli, Ratnagiri and Sindhudurg districts of the State of Maharashtra. GOVERNMENT OF INDIA MINISTRY OF CORPORATE AFFAIRS NOTIF...

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GST Rate on Canteen Services Provided to Client- Upto & After 25.07.2018

In re Gurukrupa Hospitality Services (GST AAR Gujarat)

In the present case also, services in connection with catering are provided by the applicant at a place other than a place of the applicant. Further, the service of catering is provided by the applicant to the recipient and the fact that the meal, snacks, tea etc. are consumed by the workers/employees of the recipient, would not alter the...

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Gujarat State Examination Board liable for GST registration: AAR

In re State Examination Board (GST AAR Gujarat)

In re State Examination Board (GST AAR Gujarat) The applicant has submitted that it is conducting various types of examinations : viz for getting job of teacher for pre primary, primary and secondary school, for getting job as a teacher in Government/Grant-in-Aid School in standard 9 to 12, for getting a job as a Principal […]...

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GST on charges towards room stay, service charge, breakfast, airport pick up

In re Mangaldas Mehta and Co. Limited (GST AAR Gujarat)

Whether the invoice of the applicant containing items reflecting charges towards room stay, service charge, breakfast, airport pick up and drop, extra bed form a part of tariff in order to ascertain the rate of GST as per the slabs provided under Notification No.11/2017- Central Tax (Rate) i.e. what will be the liability to pay GST i.e. t...

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Result of Company Secretaries Examinations June, 2019

The result of Executive Programme (Old and New Syllabus) and Professional Programme (Old and New Syllabus) of Company Secretaries examinations held in June, 2019 has been declared today, i.e., the 25th August, 2019 at New Delhi and released to all the Regional and Chapter Offices of the Institute throughout the country for information of...

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Posted Under: Income Tax |

Error and Solution for GSTR 9C-JSON

Every Professional started to file the GSTR 9C. He is facing the number of errors while generating the GSTR 9C Json and Uploading the GSTR 9C JSON. Here, you may find the solution of your problem. List of Error and solution for GSTR 9C JSON S. No. Particulars 1 Please note that JSON of GSTR […]...

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Posted Under: Income Tax |

DGFT notifies new Enlistment to issue Certificate of Origin

Public Notice No. 28/2015-2020-DGFT (28/08/2019)

New office address of Indian Industries Association of India (IIA) is notified and M/s Millennial India International Chamber of Commerce Industry & Agriculture (MIICCIA) and M/s Bombay Industries Association (BIA) are enlisted under Appendix 2E of/FTP, 2015-2020 for issuing Certificate of Origin (Non-Preferential). GOVERNMENT OF IND...

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AAR Rajasthan allows ‘Gifts on Airline Solutions’ to withdrawn application

In re M/s Gifts on Airline Solutions Pvt. Ltd. (GST AAR Rajasthan)

In re M/s Gifts on Airline Solutions Pvt. Ltd. (GST AAR Rajasthan) Classification of any goods or services or both. Admissibility of Input Tax credit of Tax paid or deemed to have been paid. Determination of the liability to pay tax on any goods or services or both. Since the applicant has withdrawn the application, […]...

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GST Payable on execution related to transmission system of RVPN for customers

In re M/s Rajasthan Rajya Vidyut Prasaran Nigam Limited (GST AAR Rajasthan)

In re M/s Rajasthan Rajya Vidyut Prasaran Nigam Limited (GST AAR Rajasthan) 1. Whether facilitating the execution of works requiring modification/ augmentation/ shifting/ additions to the transmission system of RVPN at the specific request of the consumer/intending agency under Deposit Work is a `Supply’ in terms of Section 7 of the...

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AAR Rajasthan allows ‘Indo Autotech’ to withdrawn application

In re M/s Indo Autotech Limited (GST AAR Rajasthan)

In re M/s Indo Autotech Limited (GST AAR Rajasthan) The applicant has purchased industrial plots in Mahindra World City located in Tehsil- Sanganer, Jaipur, Rajasthan 302037 on long term lease. The developer i.e. M/s Mahindra World City has charged GST 18% on lease premium value of industrial plots under HSN 997212. 2. QUESTIONS ON WHICH ...

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Register imported vehicles in compliance with Central Motor Vehicles Rules 2018

Notification No. 14/2015-2020-DGFT [S.O.3111(E)] (28/08/2019)

Registration of vehicles imported by the vehicle manufactures or through their authorised representatives in India or by the organisation / citizen for personal use, demonstration, testing, research or scientific use etc. shall comply with the Central Motor Vehicles (Eleventh Amendment) Rules, 2018. Government of India Ministry of Commerc...

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Admissibility of ITC of Tax paid or deemed to have been paid- AAR allows withdrawn of application

In re M/s Indo Autotech Limited (GST AAR Rajasthan)

In re M/s Indo Autotech Limited (GST AAR Rajasthan) Note: Under Section 100 of the CGST/ RGST Act, 2017, an appeal against this ruling lies before the Appellate Authority for Advance Ruling constituted under section 99 of CGST/ RGST Act, 2017, within a period of 30 days from the date of service of this order. At […]...

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Import of polymethyl methacrylate Prohibited’ WEF 1st September, 2019

Notification No. 13/2015-2020-DGFT [S.O.3112(E)] (28/08/2019)

Import Policy of polymethyl methacrylate under Exim code 39169032 of ITC (HS) 2017 — Schedule — 1 (Import Policy) is revised from ‘Free’ to ‘Prohibited’ with effect from 1st September, 2019. Government of India Ministry of Commerce & Industry Department of Commerce UdyogBhawan, New Delhi Notification No. 13...

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GST under RCM Payable on transportation Charges of cotton seed oil cake

In re M/s Sanjay Kumar Jain (GST AAR Rajasthan)

In re M/s Sanjay Kumar Jain (GST AAR Rajasthan) The applicant uses service of GTA for transportation purpose, hence the applicant is recipient of service and concerned GTA is service provider. Being recipient of services the applicant is liable to pay GST as per the provisions mentioned in the above said Notification. Further, during the ...

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No GST on notional processing fees on loan to various Gujarat Government entities by GSFS

In re M/s. Gujarat State Financial Services Ltd (GST AAR Gujarat)

In re M/s. Gujarat State Financial Services Ltd (GST AAR Gujarat) Question – 1 The Applicant is providing financial assistance in the form of loan to various Government of Gujarat entities, whether all such Gujarat Stated owned entities and GSFS become related persons in GST? Answer: The relationship between Gujarat State Financial Serv...

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GST on refundable interest free deposit in Demat account & Free Transactions

In re M/s. Rajkot Nagrik Sahkari Bank Ltd (GST AAR Gujarat)

In re M/s. Rajkot Nagrik Sahkari Bank Ltd (GST AAR Gujarat) Question 1 : In the facts and circumstances of the case whether Refundable Interest Free Deposit received could be treated as Supply under the provisions of Goods and Services Tax Act, 2017? And chargeable to tax in the hands of the applicant? Answer 1: […]...

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GST on pure services provided to Central /State Govt or UT

In re Shri Jayesh Anilkumar Dalal (GST AAR Gujarat)

In re Shri Jayesh Anilkumar Dalal (GST AAR Gujarat) Question: Whether or not my supply of services in the nature as mentioned in point 12(B) above, provided to Local Authorities , Urban Development Authority, Dist. Panchayat R&B Div. and other Government Departments which are entrusted with the functions mentioned under article 243G a...

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‘Fanta Fruity Orange’ classifiable under GST Tariff Item 22029990

In re M/s. Hindustan Coca-Cola Beverages Private Limited (GST AAR Gujarat)

In re M/s. Hindustan Coca-Cola Beverages Private Limited (GST AAR Gujarat) The product ‘Fanta Fruity Orange’ manufactured and supplied by M/s. Hindustan Coca-Cola Beverages Private Limited  is classifiable under Tariff Item 2202 99 90 and Goods and Service Tax rate of 18% (CGST 9% + GGST 9%) is applicable to the said product as per [...

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GST payable on amount recovered from contractors for breach of conditions

In re M/s. Dholera Industrial City Development Project ltd. (GST AAR Gujarat)

Whether applicant is liable to collect GST on amount recovered from contractors on account of breach of conditions specified in the contract ? Whether applicant is liable to collect GST on amount recovered from contractors on account of not achieving milestone ?...

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GST payable on freight and insurance shown separately in invoice

In re M/s. Aditya Birla Nuvo Limited (GST AAR Gujarat)

Question 2: Whether showing and charging freight and insurance portion separately in invoice would attract GST. Answer: GST is chargeable. There cannot be different type of treatments of tax liability on supply of different goods/services naturally bundled together....

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GST on Supply in the Course of Inter-State Trade or Commerce

Article 246A(2) read with Article 269A(1) of the Constitution of India gives exclusive power to the Parliament to make law to provide levy and collection of goods and services tax, by the Union, on supply of goods or services or both where such supply takes place in the course of inter-State trade or commerce. Clause […]...

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Posted Under: Income Tax |

CG extends Tenure of National Committee for promotion of Social & Economic Welfare

Notification No. S.O. 3122(E) / F. No. 2/2019/F. No. V. 27013/3/2018-SO(NAT.COM) (28/08/2019)

Central Govt further extends tenure of National Committee for promotion of Social and Economic Welfare for a further period of six months w.e.f. 1st October, 2019 i.e. till 31st March, 2020.   MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION New Delhi, the 28th August, 2019 S.O. 3122(E).—Whereas in exercise of the powers c...

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Companies (Incorporation) Seventh Amendment Rules, 2019

Notification No. G.S.R. 603(E). (28/08/2019)

In the Companies (Incorporation) Rules, 2014  in the annexure to the said rules, for forms RD-1 and RD GNL-5 forms shall be substituted vide Companies (Incorporation) Seventh Amendment Rules, 2019. GOVERNMENT OF INDIA MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi 28th August, 2019 G.S.R. 603(E)._ In exercise of the powers conferre...

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Ind AS 105 applicability on Non Current asset held for sale or group disposal

Application of Ind AS 105- (Non Current asset held for sale or group disposal) in case the decision is after the reporting period but before the approval of financial statement by board According to Ind AS 105 (Non-current asset held for sale) An entity shall classify a non-current asset (or disposal group) as held for, […]...

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Posted Under: Income Tax |

HC permits manual rectification of GSTR-3B

M/s. Panduranga Stone Crushers Vs. Union of India (Andhra Pradesh: Amaravati)

M/s. Panduranga Stone Crushers Vs. Union of India (Andhra Pradesh: Amaravati) Petitioner is permitted to rectify GSTR-3B statements for the months of August and December, 2017 and January and February, 2018 manually subject to the outcome of the writ petition. It is made clear that if the petitioner submits a rectified statements for the ...

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UDIN: A Blessing in Disguise for Professionals

UDIN (Unique Document Identification Number): A Blessing in Disguise for Professionals UDIN : What is Unique in Unique Document Identification Number ? The Concept of UDIN is a very much awaited decision and a welcome step towards better transparency in Certification of documents by various Professionals including Practising Chartered Acc...

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Posted Under: Income Tax |

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