These regulations may be called the Securities and Exchange Board of India (Foreign Portfolio Investors) (Amendment) Regulations, 2019. These regulations shall come into force on the date of their publication in the Official Gazette.
38th GST Council Meeting dated 18-12- 2019 1) GSTR-1 Late Fee Waiver on GSTR-1 1. Notification 4/2018-CT dated 23-01-2018, reduced late fee for delayed filing of GSTR-1 from Rs. 2 00/- per day to Rs. 50/- per day. For NIL returns it was reduced to Rs. 20/- per day 2. Notification 75/2018-CT dated 31-12-2018 waived […]
Assistant Commissioner of CGST & Central Excise Vs Daejung Moparts Pvt Ltd. (Madras High Court) View of Third Member The question raised is as to whether interest on delayed payment of tax as contemplated under Section 50 of the Central Goods and Services Tax Act, 2017, is automatic or the same is to be determined, […]
Rationalize rates on Woven and non-woven bags and sacks of polyethylene or polypropylene strips or the like, whether or not laminated, of a kind used for packing of goods which fallunder HSN 3923 or 6305 – will have uniform rate of 18% from 12% on all bags falling under HSN 3923 or 6305 including Flexible intermediate bulk containers (FIBC) to be effective w.e.f 01st Jan 2020.
The undisputed facts reveal that the Petitioner has filed GSTR-1 Return under Section 37 of the CGST Act, 2017, however, the Petitioner has not filed GSTR-3B Returns, which are to be paid on GST portal based on self-assessed transaction value shown in GSTR-1 Returns by the Petitioner. There are twin effect of such non-filing of GSTR-3B Return, first is that no revenue is actually transferred to the Government and on the other hand, the persons / tenants, to whom the Petitioner has issued invoices, would avail GST credit.
Commission paid to foreign agents for procuring export orders could not be treated as income taxable in India when parameters of DTAAs were applied to transactions in question. Also non-resident agents did not have PE or business connection in India. Therefore, impugned payment could not be held as taxable in the hands of non-resident agents in India and, therefore, liability to withhold tax under section 195 did not arise.
Charter Party Agreement making available the services of vessel by assessee-company to Port trust would tantamount to a deemed sale as there was a transfer of right to use the vessel as provided in Article 366(29A)(d) read with section 5C or section 2(j) of the Karnataka Sales Tax Act. Thus, the transaction was liable to be taxed by the concerned authorities in the State of Karnataka.
Seeks to further amend notification No. 35/2018-Customs(ADD) regarding levy of anti-dumping duty on High Tenacity Polyester Yarn to amend the name of exporter name from ‘M/s. Oriental Textile (Holding) Ltd.’ to ‘M/s. Oriental Industries (Suzhou) Ltd’.
Documentation can play a pivotal role in ensuring correct tax impact. It reduces great amount of time and energy of the company, advisors, auditors and most importantly the judiciary system.
Exchange Rate Notification No. 91/2019-Custom (NT) dated 19.12.2019-Notifying Customs Rate of Exchange of Foreign Currency Conversion w.e.f. 20th December, 2019.
