"25 February 2020" Archive - Page 5

No profiteering if ITC availed in post-GST period is low in comparison to pre-GST period

Paramjeet Rathee Vs Supertech Limited (NAA)

Paramjeet Rathee Vs Supertech Limited (NAA) The Applicant No. 1 has further contended that while calculating profiteering, the DGAP has not considered the type of sale consideration i.e. Subvention Plan or CLP Plan, pre-­GST impact of ITC on cost, Cost Sheet Proforma for Goods/Services pre-GST and post-GST, Summary of purchased materials...

AAR not allowed to answer on place of supply

In re Shalini Manish Mittal (GST AAR Maharashtra)

In re Shalini Manish Mittal (GST AAR Maharashtra) Issue- Whether online or telephonic educational coaching from India for corporate, individuals or any other entities residing required outside India is subject to GST and if so under which category is it taxed and section/notification covered for the same Held- On perusal of the provision ...

House Rent Allowance (HRA)

If you are a Salaried Employee then you must know about the HRA. The Term HRA stands for House Rent Allowance. Generally every employee receives a HRA from their employers as part of his salary package, in accordance with terms and conditions of employment....

Committee to study feasibility of allowing life insurers to offer indemnity based health policies

Notification No. IRDAI/HLT/ORD/MISC/050/02/2020 25/02/2020

Representations have been received from Life Insurance Companies to allow them to offer indemnity products as well. 1. In order to examine the feasibility of allowing life insurers offer indemnity based health policies, the competent Authority has decided to set up a committee with the following members:...

No export of service if testing services are performed in India

In re Syngenta Biosciences Private Limited (GST AAAR Goa)

In re Syngenta Biosciences Private Limited (GST AAAR Goa) The Authority held that in terms of Section 13 (3) the place of supply of service is in Goa, India, since in the given factual situation, the samples/goods on which the testing service is to be performed by the appellant were made available by the service […]...

GST Order passed without considering the ground raised is invalid

Lakhan Singh Chauhan and Company Vs Union of India (Madhya Pradesh HC)

Lakhan Singh Chauhan and Company Vs Union of India and others (Madhya Pradesh HC) In the impugned order, there is no consideration to the grounds mentioned in the memo of appeal regarding non-communication of the order to the petitioner and start of period of limitation from the date of communication or knowledge of the order. […]...

How & Why to recogize your Business as a Startup

Article explians What is a startup, Process of recognition of a startup, Benefits of recognition as a startup which includes Income tax deduction under Section 80 IAC, exemption under section 56 of Income Tax Act (Angel Tax Exemption), Intellectual Property Right (IPR) benefits, Relaxation under public procurement norms, Self-certificatio...

Offline Utility Tool for GST Refund Error

Offline Utility Tool for GST Refund Error solved Dear GST stakeholders. Here is the solution for error !!! The refund offline utility as downloaded from GST portal showing errors as follows Error 1: Either invalid date or Please enter the Invoice or Doc date in dd-mm-yyyy format Error 2: SI.No with Duplicate Entry in row […]...

Section 54F exemption available despite investment in Spouse Name

A. Tamil Ponni Vs ITO (ITAT Chennai)

In the given case, the issue under consideration is if the new property has been invested in the name of assessees husband, then in such case whether the exemption under Section 54F can be denied to the assessee or not?...

BCAS Post- Budget Memorandum on Direct Tax Laws 2020-2021

Introduction of the new tax regime under section 115 BAC of the Income Tax Act, 1961, with an objective to simplify the tax procedures, abolition of the Dividend Distribution Tax, Scope of Business Connection, Tax treatment of Provident Fund, Capital Gains etc....

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