"13 September 2019" Archive - Page 2

GST not payable on damages/compensation paid for a legal injury

Bai Mamubai Trust Vs Suchitra (Bombay High Court)

Bai Mamubai Trust Vs Suchitra (Bombay High Court) In the present case, where the Plaintiff has made out a strong prima facie case and the Defendant has not been able to demonstrate any semblance of right to occupy the Suit Premises, it cannot be said that the Defendant’s occupation pursuant to an Order of the […]...

Concept of Aggregate Turnover in GST

Aggregate Turnover for Audit : Registered persons with an aggregate turnover exceeding the prescribed GST audit limit of Rs 2 Crore during a financial year are liable for GST Audit....

Section 44AD: Mere submission of Balance sheet not proves Maintenance of Books of Accounts

Mr. Pradeep Jain Vs ITO (ITAT Delhi)

Mr. Pradeep Jain Vs ITO (ITAT Delhi) The assessee has filed the return of income for assessment year under appeal declaring income of Rs.9,63,920/-, out of which, income was declared at Rs.9 lakhs under section 44AD of the I.T. Act, 1961. In subsequent A.Y. 2016-2017 also, assessee declared income under section 44AD of the I.T. […]...

Diamond, base metals & alloys in liquid assets list by SEBI

Circular No. SEBI/HO/CDMRD/DRMP/CIR/P/2019/100 13/09/2019

Currently the list of commodities/commodity groups permitted as Liquid Assets consists of Bullion, Steel and Agricultural commodities. Considering the introduction of compulsory delivery based Diamond and Base metal derivatives contracts and feedback received from the stakeholders, it has been decided to include Diamond, Base metals and A...

Multilateral Instruments – Key Articles Simplified

Base Erosion Profit Shifting (‘BEPS’) Action Plan Weakness of international tax system created several opportunities for tax payers for shifting profits to tax friendly jurisdictions. To create transparency, exchange of information and to avoid treaty abuse, G20 leaders endorsed BEPS Action Plan and developed the same with Organisatio...

GST defaulter can be released on conditional bail on bond with sureties

Kamlesh Suvalal Soni Vs State of Gujarat (Gujarat High Court)

In the given case, the applicant is facing charges under Sections 132(1)(b) and 132(1)(c) of the Central Goods and Services Tax Act, 2017, for which maximum sentence is of five years. Hence the applicant wanted to apply for regular bail....

RTI Information supplied after statuary period of delay- Rs. 25000 penalty imposed

Rajesh Kumar Patel S/o Shri Ramsharan Vs Chief Information Commission (Chhattisgarh High Court)

Rajesh Kumar Patel S/o Shri Ramsharan Vs Chief Information Commission (Chhattisgarh High Court) Admittedly, in this case, up till the filing of the second appeal, no information was supplied, however, the information when was supplied i.e. the copy of the cash-book, the petitioner contended that one copy was supplied twice. The commission...

Annexure I to Appendix 2A revised- Procedure for import of various items under TRQ

Public Notice No. 33/2015-2020-DGFT 13/09/2019

DGFT hereby amends Annexure I to Appendix 2A laying down the procedure for import of various items under Tariff Rate Quota under different Trade Agreement, (Para 2.107) of the Handbook of procedure (2015-20) as in Annexure-I....

Enlistment under Appendix 2E of Expo Overseas Entrepreneurs Association

Public Notice No. 32/2015-2020-DGFT 13/09/2019

M/s Expo Overseas Entrepreneurs Association (EOEA), Indore, Madhya Pradesh is enlisted under Appendix 2E of FTP, 2015-2020 for issuing Certificate of Origin (Non-Preferential)....

Blocked Credits under GST

ITC of tax paid on almost every inputs and input services used for taxable supply of taxable goods or services or both is allowed under GST except a small list of items provided u/s. 17(5) of CGST Act....

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March 2024