In response to Appeal Filed by Central Government against the Gujarat High Court Judgment in the case of AAP And Co. Vs Union of India, Hon’ble Supreme Court stays the Gujarat HC judgement which states that GSTR-3B is not a return under Section 39 of Central Goods & Services Tax Act, 2017.
Web advertisement expenses and depreciation claimed by assessee in respect of software purchase was not an allowable deduction as the expenses claimed by assessee were bogus and assessee would not have been able to substantiate the genuineness of the transactions by producing relevant and material evidence.
If that is the case, the deduction claimed by the assessee should have been allowed under the correct provision. Merely because the assessee has claimed deduction under section 54F of the Act, by treating the flat as a commercial property, assessee’s claim of deduction under section 54 of the Act cannot be disallowed if the assessee fulfills the conditions of section 54 of the Act.
MFAR Constructions Pvt. Ltd. Vs Additional Commissioner of Commercial Taxes (Karnataka High Court) Return is the basis on which the computation of tax liability has to be made including the input tax credit in terms of Section 10[3] and Section 10[4] of Karnataka Value Added Tax Act, 2003. It is not in dispute that no […]
The Respondent has computed the interim GST benefit by estimating taxes which were a cost to him in the pre-GST regime. We find that it is a methodology based on estimated or assumed figures which is not accurate and we agree with the methodology adopted by the DGAP while determining profiteering.
FASTag is a digital system which has been developed by the National Payments Corporation of India (NPCI). It is based on National Electronic Toll Collection (NETC) programme. Due to the recent mandatory implementation, the word ‘FASTag’ has become more familiar within the general public at large. Implementation of ‘FASTag’ is a huge step towards Digital […]
Central Government hereby notifies that the Notification No.31/2015-2020 dated 13th November, 2019 and published in the Gazette of India , Extraordinary vide number S.O. 4097(E) dated 13th November, 2019 shall be effective from the date on which Section 88 (b) of the Finance (No. 2) Act, 2019 (23 of 2019) is notified by the Department of Revenue, Ministry of Finance. Government of India. Hence, the Notification No.31/2015-20 dated 13th November, 2019 is not effective till amendment of First Schedule to the Customs Tariff Act as specified in the Fifth Schedule to the Finance Act is notified.
Shri N. Ramaswamy Vs ITO (ITAT Chennai) A bare reading of Section 2(47)(vi) of the Act shows that the agreement or arrangement which has the effect of transferring or enabling the enjoyment of immovable property, has to be considered as transfer in relation to capital asset. In this case, there was a perpetual lease agreement […]
The following draft regulations to amend the Indian Boiler Regulations, 1950, which the Central Boilers Board proposes to make in exercise of the powers conferred by section 28 of the Boilers Act, 1923 (5 of 1923), is hereby published
It has been decided that the above facility shall be made available from December 16, 2019 with the first settlement taking place after 00:30 hours on December 16, 2019 (i.e. night of December 15, 2019).
