"11 September 2019" Archive

Synthesized text of the MLI and the India Serbia DTAA

SYNTHESISED TEXT OF THE MULTILATERAL CONVENTION TO IMPLEMENT TAX TREATY RELATED MEASURES TO PREVENT BASE EROSION AND PROFIT SHIFTING AND THE CONVENTION BETWEEN THE GOVERNMENT OF THE REPUBLIC OF INDIA AND THE COUNCIL OF MINISTERS OF SERBIA AND MONTENEGRO FOR THE AVOIDANCE OF DOUBLE TAXATION WITH RESPECT TO TAXES ON INCOME AND ON CAPITAL (a...

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Posted Under: Income Tax |

Additional depreciation cannot be denied to an entity engaged in business of generation and distribution of power

Pr. CIT Vs NTPC Sail Power Co. Pvt. Ltd. (Delhi High Court)

Pr. CIT Vs NTPC Sail Power Co. Pvt. Ltd. (Delhi High Court) Electricity is capable of abstraction, transmission, transfer, delivery, possession, consumption and use like any other movable property. Following the same logic, to deny the benefit of additional depreciation to a generating entity on the basis that electricity is not an ‘...

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Writ filed challenging GST Portal Operation Mechanism for Annual Return filing

M/s P.P. Automative Pvt. Ltd. Versus UOI and others (Punjab and Haryana High Court)

Writ Petition Filed Before Hon’ble High Court Of Punjab And Haryana: M/S P.P. Automotive Pvt. Ltd., Challenging The Mechanism Of Operation Of Common GST Portal In Relation To The Filing Of Annual Return. Provisions: As per Section 44 and Section 35 of the CGST/HGST Act read with Rule 80 of the CGST/HGST Rules, the taxpayers […]...

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Guideline & mode of Disposal of seized/confiscated foreign origin liquor

Circular No. 30/2019-Customs (11/09/2019)

The officer-in-charge of warehouse shall prepare a list of all the seized /confiscated liquor that have become ripe for disposal and submit it to the Chairman of the concerned Liquor Disposal Committee. The Liquor Disposal Committee shall satisfy itself that the consignments are ripe for disposal, shall endorse necessary documents and the...

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New GST Return – At a Glance

In the 31st GST Council meeting it was recommended to introduce & implement a New GST Return in a phased manner wef October 2019 to facilitate taxpayers. In the new GST Return System, there shall be three main components Form GST RET- 1 (Main Return) & two annexures (Form GST ANX-1 & Form GST ANX-2) The […]...

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Posted Under: Income Tax |

Assessee cannot offer Interest Income on cash basis when he is following accrual basis

DCIT Vs M/s Delhi Tourism Transportation Corporation Ltd. (ITAT Delhi)

DCIT Vs M/s Delhi Tourism Transportation Corporation Ltd. (ITAT Delhi) The addition was made by the AO on the ground that although the assessee had claimed credit for Tax Deducted at Source (“TDS”, for short) on the interest income from the bank, corresponding interest income was not offered to tax by the assessee during the […...

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Re-designation of nomenclature of posts of Member CBDT and revision in their Jurisdiction

Office Order No. 197 of 2019-CBDT (11/09/2019)

Office Order No. 197 of 2019 – Re-designation of the nomenclature of the posts of Member CBDT and revision in their Jurisdiction – reg. F. No.A-35015/7/2012-Ad.VI Government of India Ministry of Finance Department of Revenue (Central Board of Direct Taxes) North Block. New Delhi, The 11th September. 2019 Office Order No. 197 ...

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Process and Requirement FSSAI Registration / License

Food Safety and Standards Authority of India (FSSAI) is an organization that governs and regulates the food business in India. It has been established under the Food Safety and Standards Act, 2006. It lays down the standards for articles of food and regulates their manufacture, storage, distribution, sale and import to ensure the safety ...

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Posted Under: Income Tax |

Pay interest consequent to delay in filing GST Return, only on net tax liability: HC

Commissioner of CGST v. M/s. Daejung Moparts Pvt. Ltd. (Madras High Court)

High Court of Madras in the matter of Commissioner of CGST v. M/s. Daejung Moparts Pvt. Ltd. [W.A.Nos.2127 and 2151 of 2019] dated 23.07.2019 dismissed the Letter Patent Appeal filed by the department and upheld the order of single bench, whereby assessee was directed to pay interest consequent to delay in filing of Return, only on ne...

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Withdrawal of Press Note No. 17 (1984 Series)

Press Note No. 3 (2019 Series) (11/09/2019)

The Press Note No. 17 (1984) series regarding Environmental clearance of Industrial Licence- conditions of Letter of Intent/Industrial Licence, relates to pre-1991 period. After the Industrial Policy Resolution 1991, and considering various amendments made to Notification No. 477(E) dated 25th July, 1991 only the following four Industrie...

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