The opposition parties, mainly Congress have claimed that GDP for the Q3 of financial year 2019-20 is going to be further down, given the state of economy. India’s economic growth, GDP, has slipped to slab 5% level @ 4.5% in July – September quarter, which is a six year low. India’s GDP grew by 4.5% […]
The CBIC has inserted Rule 138E in the CGST Rules which restricts generation of E-way bill by the taxpayer if the returns for a consecutive period of two months has not been furnished. Similarly, in case of composition taxpayers have not furnished the statement in FORM GST CMP-08 for two consecutive quarters. This rule has […]
Philips Electronics India Ltd. Vs Commissioner of Central Tax (CESTAT Bangalore) The appellants, Philips Electronics India Ltd. are a 100% EOU (Software Technology Park Unit) are engaged in developing and export of software. No part of the output services are rendered to any client in India. The appellants have entered into various agreements with their […]
Further, the applicant has filed rectification application on 10.10.2019 which is beyond the statutory limit of six months as prescribed under Section 102 of CGST Act/MGST Act, 2017. It is delayed and barred by limitation. Therefore, the said application is not found tenable under scope of rectification. Hence it is rejected.
In re Life Health Foods India Pvt. Ltd (GST AAR Maharashtra) The Application in GST ARA Form No. 01 of M/s. Life Health Foods India Pvt Ltd., vide reference ARA No. 44 dated 18.09.2019, is disposed of, as being withdrawn voluntarily and unconditionally. FULL TEXT OF ORDER OF AUTHORITY OF ADVANCE RULING, MAHARASHTRA PROCEEDINGS (under […]
The applicant have themselves submitted that the scrap is the property of the vendors. Hence question with respect to taxability of sale/supply of such scrap can be raised only by the concerned vendors and not by the applicant. Hence in view of the provisions of Section 95 of the GST Act, since the supply of scrap, will not be undertaken/is proposed to be undertaken, by the applicant, we are of the opinion that this authority is not allowed to answer the question raised by the applicant, being out of the purview of sec. 95 of CGST Act.
Cynthia Ramona Chellappa Vs. ITO (ITAT Chennai) The issue under consideration is whether the amount received through the Will of God-Mother is eligible for exemption u/s 56(2)(vii)? ITAT states that a perusal of the provisions of Section 56(2)(vii) shows that any amount received by an individual without consideration and the aggregate value exceeds 50,000, the […]
In many Indian corporate frauds, it is found that independent directors either were just mute spectators or failed to detect an early signs of fraud. In some companies, it was found that watchmen, drivers, maids and other assorted individuals lent their name, identity and consent to become an independent director without aware of their roles […]
In other words, Section 97(2), which encompasses the questions, for the ruling by this Authority does not deal with the issue of whether a GST registration should be surrendered. Hence, it is held that this authority does not have jurisdiction to pass any ruling on such matters.
In re Strides Emerging Markets Ltd (GST AAAR Karnataka) The active ingredient in ‘Nicotine Polacrilex Lozenge’ is Nicotine which is a natural alkaloid. Nicotine is bound to an ion-exchange resin (polymethacrilic acid) and administered in the form of tablets, chewing gum, lozenge or patches The chemical formulation of the nicotine bound to the resin polacrilexis […]
