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Archive: 22 January 2020

Posts in 22 January 2020

AAR have no jurisdiction to rule on place of supply of Goods/Services

January 22, 2020 1617 Views 0 comment Print

On perusal of the provision of section 97(2), we find that the question on the determination of place of supply has not been covered in the above set of questions, on which advance ruling can be given. Therefore, we do not have jurisdiction to pass any ruling on such questions which involve the determination of the place of supply of goods or services or both.

It’s Not Too Late To Save tax!

January 22, 2020 8448 Views 2 comments Print

The deadline for making tax saving investments is 31 March. But, there is still time to adopt last minute tax saving tips to claims tax benefits offered by the Government. This article discusses some tax investment avenues which can be utilized before 31 March to lower one’s overall tax liability.

ITC eligible on free supply of goods as a part of CSR activities

January 22, 2020 5319 Views 0 comment Print

A clear distinction needs to be drawn between goods given as ‘gift’ and those provided /supplied as a part of CSR activities. While the former is voluntary and occasional, the later is obligatory and regular in nature. CSR expenses incurred by the applicant have been mandated under the Companies Act, 2013. It is the applicant’s obligation to incur such expenses in order to be in compliant with the law. Since CSR expenses are not incurred voluntarily, accordingly, we are of the opinion that they do not qualify as ‘gifts’ and therefore its credit is not restricted under Section 17(5) of the CGST Act, 2017.

5 Important points related to Charitable / religious trusts

January 22, 2020 171174 Views 27 comments Print

Finance Act’2017 had made some major changes relating to Charitable and religious trusts. In this Article we have discussed five major amendments which are affecting Charitable and religious trusts.

Section 194-IB TDS on Rent of Property with FAQs

January 22, 2020 80964 Views 7 comments Print

The Finance Act, 2017 has introduced section 194-IB providing that Tenant of a property making monthly rent payment exceeding ₹ 50, 000 is required to deduct tax at the rate of 5% from the rent payable to a resident landlord.

GST: No ITC to Co-op Hsg. Soc. on replacement of existing lift

January 22, 2020 4572 Views 0 comment Print

To summarize, Manufacture, Supply, Installation and Commissioning of Lifts/ Elevators is in the nature of Works Contract activity which results in creation of an immovable property. Hence in view of the above discussions and Explanation to Section 17 of the CGST Act, we are of the opinion that the applicant is not entitled to ITC of GST paid on replacement of existing Lift/Elevator, in its premises.

Cancellation of GST Registration & Confusion on Filling of Return

January 22, 2020 23502 Views 3 comments Print

There are two ways to cancel a GST registration one is on voluntary basis via filling of application for cancellation and second by authorities in case of non-filling of returns and non-payment of taxes etc. There are lots of confusions that are we liable to file GST returns after applying for cancellation of GST registration […]

Section 79 GST Recovery cannot be initiated without determinng tax liability

January 22, 2020 17808 Views 0 comment Print

Madras High Court held in the case of M/s. V.N. Mehta & Company Vs Assistant Commissioner, that Recovery Proceedings under Section 79 cannot be initiated directly without determination of tax liability. Facts: 1. The present writ challenges the proceedings initiated against the petitioner directing recovery of certain amount from the account maintained by the petitioner. […]

Rajasthan HC denies Bail to accused in Fake GST Invoice Case

January 22, 2020 1044 Views 0 comment Print

Learned counsel appearing for Union of India has vehemently opposed the bail application. It is contended that petitioner has created fake firms and has fraudulently, transferred input tax to as many as 470 beneficiary parties. Out of which, fifty five parties took fraudulent input tax credit and have now reversed those entries. It is contended that total loss caused to the exchequer is to the tune of Rs. Thirty three crore, out of which, Rs. Thirteen crore has been recovered so far. It is also contended that petitioner avoided service of summons and was arrested from Ajmer.

No advance ruling If primarily, no sale of goods by applicant

January 22, 2020 1026 Views 0 comment Print

From the submissions made on this issue it is seen that the applicant neither owns the said goods nor delivers the same to their customers. Applicant only facilitates the transaction between the buyer and the seller through their website and acts as an intermediary. We find that there is no sale of goods undertaken by the applicant in this case, therefore such supply will not be considered at all, as sale of goods effected by the applicant. When there is primarily, no sale of goods by the applicant, the question as to whether such supply will be considered as export sale under GST ACT does not arise at all.

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