"21 October 2019" Archive

CESTAT can be temporary GSTAT if GST Council agrees- Suggestion in Delhi HC

Bharatiya Vitta Salahkar Samiti & Anr Vs Union of India & Ors. (Delhi High Court)

He has also made a suggestion that instead of constituting a separate tribunal to deal with GST matters, the CESTAT could be empowered to deal with the same since several cases involve issues relating to customs duties and GST as well....

Read More

SC set aside Delhi HC order restraining I-T dept from taking action Gautam Khaitan

Union of India and Ors. Vs Gautam Khaitan (Supreme Court)

Union of India and Ors. Vs Gautam Khaitan (Supreme Court) Scheme of the Black Money Act is to provide stringent measures for curbing the menace of black money. Various offences have been defined and stringent punishments have also been provided. However, the scheme of the Black Money Act also provided one time opportunity to make [&hellip...

Read More

HC rejects Bail application in GST Evasion Case (ITC Fraud)

Himani Munjal Vs Union of India (Rajasthan High Court)

Himani Munjal Vs Union of India (Rajasthan High Court) Petitioner has filed this petition under Section 439 Code of Criminal Procedure, 1973 seeking regular bail in Criminal Complaint No. 35/2018 pending before the Court of Chief Metropolitan Magistrate, (Economic Offences) Jaipur Mahanagar, for offences under Sections 132(1)(b),(c)(d),(f...

Read More

Power to attach Bank Account provisionally-Irregular availment of ITC

Pranit Hem Desai Vs Additional Director General & 1 Other(S) (Gujarat High Court)

Pranit Hem Desai Vs Additional Director General (Gujarat High Court) Section 83 of the State GST Act empowers the Assessing Authority to make a provisional attachment of any property of the assessee during the pendency of any proceeding for the assessment or reassessment of any turnover, even though there is no demand outstanding against ...

Read More

GST offences, penalties and appeals

Being a destination based, transaction wise tax, Goods and Services Tax (GST) ropes in strict compliance procedures for all the taxpayers or people falling under the gamut. Since every transaction is being recorded and tracked between the source and destination, it is obligatory for the taxpayers to maintain and declare information with u...

Read More

No service tax on surrender charges deducted from ULIP fund

Max Life Insurance Co. India Ltd. Vs. Commissioner Central Excise and Service Tax (CESTAT Delhi)

Max Life Insurance Co. India Ltd. Vs. Commissioner Central Excise and Service Tax (CESTAT Delhi) CESTAT Delhi has held that service tax was not payable on surrender charges deducted from the fund value of policy holder on pre-mature withdrawal, as it was not for asset management but a penalty. The Tribunal, considering clarification by CB...

Read More

SEBI Circular on Resignation of Stautory Auditors

PREAMBLE The Company jurisprudence in India enshrines statutory auditors who audit the accounts of a company as representatives of the shareholders who appoint them at every Annual General meeting {AGM} to look after the interest of the shareholders. In a significant case of  Deputy Secretary v S N Dasgupta, AIR,  1956 , Cal 414, it [&h...

Read More

Proceedings for winding up pending before Company Court can be transferred to NCLT under IBC

Action Ispat & Power Pvt. Ltd Vs Shyam Metalics & Energy Limited & Ors. (Delhi High Court)

The statutory scheme found in Section 434(1)(c) clearly is that the proceedings for winding up pending before the Company Court could be transferred to the NCLT and there is no provision for transfer of proceedings from the NCLT to the Company Court....

Read More

Composition Levy under GST- Detailed Analysis

The Government has prescribed this scheme to avail by the small dealers who are not interesting to maintain detailed records, who mainly deal with end consumers, who also deal in multiple items with different rate of tax etc.. Composition Levy is a tax which is paid by the registered person on his turnover. Tax is […]...

Read More

Non- granting of credit of ITC to electronic credit ledger: HC directs GST Authorities to take appropriate decision

Red Coin Paper Product Vs Deputy Commissioner of State Tax (Gujarat High Court)

Red Coin Paper Product Vs Deputy Commissioner of State Tax (Gujarat High Court) According to the writ applicant, the inaction on the part of the authority in not granting credit of input tax credit to the electronic credit ledger even after rejection of the refund claimed for the period of May, 2018, June, 2018 and July, […]...

Read More