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Archive: 04 May 2020

Posts in 04 May 2020

GST on sub-contract of landscape development & maintenance of garden work for Govt dept

May 4, 2020 2976 Views 0 comment Print

In re M/s. Nurserymen Cooperative Society Ltd (GST AAAR Karnataka) Appellant has received contract from Government departments like BBMP and KSRTC for undertaking gardening and landscaping activities. In order to execute the work, the Appellant has engaged sub-contractors. The sub-contractors bill the Appellant for the gardening and landscaping work done at the government departments. The […]

GST on development of land and sale of plots

May 4, 2020 14751 Views 0 comment Print

In the instant case there are two activities involved, viz: development of land and sale of plots. The transaction relating to the sale of land is not a supply of either goods or service under GST (entry 5 of Schedule III of the CGST Act refers).

Section 80IB(10) deduction not eligible on Income not having Business Connection

May 4, 2020 855 Views 0 comment Print

Satern Griha Nirman Pvt. Limited Vs ITO (ITAT Kolkata) Facts of the Case: The assessee in the present case is a Company, which is engaged in the business of Builders and Property Developers. The return of income for the year under consideration was filed by it on 17.09.2011 declaring total income at ‘NIL’. During the […]

Sale of Capital Goods in GST Regime

May 4, 2020 310776 Views 27 comments Print

Whether GST is levied on Sale of Capital Goods purchased in Pre GST era? What will be the treatment on Sale of Capital Goods purchased after implementation of GST? Is there any liability on sale of Capital Assets on which Input Tax Credit (ITC) is not allowed? How to deal with loss/damage of asset where no consideration is received? Tax treatment on sale/disposal of capital goods in case when ITC is availed

Provisional Clearance of Goods under India’s Trade Agreements

May 4, 2020 1008 Views 0 comment Print

Kind reference is drawn to Circular 18/2020-Customs, dated 11.04.2020, which provides an option to clear goods under preferential tariff claim, in terms of section 18 of the Customs Act, 1962, where a Certificate of Origin (CoO) is not available at the time of filing customs documents.

DGFT clarifies on description of ‘Stock Lot’ under HSN Code 4810

May 4, 2020 4947 Views 0 comment Print

Vide Notification No. 45/2015-2020 dated 31st January 2020, import of Stock Lot under HSN Code 4810 of Chapter 48 of ITC (HS), Schedule – I (Import Policy) was ‘Prohibited’.

Contempt of Court by 3 Advocates- SC sentences 3 months imprisonment

May 4, 2020 1218 Views 0 comment Print

In re Vijay Rule & Ors. (Supreme Court) There is not an iota of remorse or any semblance of apology on behalf of the contemnors. Since they have not argued on sentence, we have to decide the sentence without assistance of the contemnors. In view of the scurrilous and scandalous allegations levelled against the judges […]

Concept of Private Listed Company

May 4, 2020 35283 Views 0 comment Print

Article contains Definitions of Private listed Company, Listed Company, Securities and Private Company. Article interprets term ‘marketable securities’ specified in SCRA, 1956 and explains Marketability of securities issued by a private limited company. Article further explains Whether SEBI has the power to regulate unlisted companies if they are issuing securities? Article further explains with respect […]

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