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Archive: 30 September 2020

Posts in 30 September 2020

Investigation on imports of Cold-Rolled Flat Products of Stainless Steel

September 30, 2020 870 Views 0 comment Print

Case No.-AD-SSR 08/2020 Initiation of Sunset Review investigation concerning imports of Cold-Rolled Flat Products of Stainless Steel of width 600 mm to 1250 mm and above 1250mm of non bonafide usage originating in and exported from China PR, Korea, European Union, South Africa, Taiwan, Thailand and USA

Concessional GST rate of 12% applicable on Laboratory Reagents

September 30, 2020 2349 Views 0 comment Print

In re Imperial Life Sciences Pvt. Ltd (GST AAAR Haryana) In view of the discussions and findings and the CBIC’s Circular No. 163/19/2021-GST dated 6th October 2021, issued under F.No. 190354/ 206/2021-TRU, AAAR hold that concessional GST rate of 12% is applicable on all goods falling under heading 3822, vide Entry at S.No. 80 of […]

ITC not eligible on services for construction of covered logistics facility space

September 30, 2020 1974 Views 0 comment Print

Whether Input Tax Credit of GST in respect of inputs in form of goods and services be eligible if the goods and services are consumed and used in construction of covered logistic facility space when the said Input Tax Credit would be utilized in order to discharge and pay CGST and HGST/IGST on rent received from tenants of the warehouse.

NCLT must give a reasonable opportunity of hearing: NCLAT

September 30, 2020 2310 Views 0 comment Print

NCLT must give a reasonable opportunity of making representations and of being heard before passing an order, to the Registrar, the Company and all the persons concerned under Section 252 (1) of the Companies Act, 2013.

Service by way of grant of mining rights by State Govt classifiable under heading 997337

September 30, 2020 1947 Views 0 comment Print

AAAR held that service by way of grant of mining rights by the State Government is classifiable under heading 997337 and is covered by serial number 17 of notification number 11/2017 Central/State Tax (Rate), dated 28.06.2017, and the said service is taxable at the rate of 18% (9% CGST + 9% SGST) during the period 01.07.2017 to 31.12.2018; Post 1st January, 2019 no dispute remains, it is taxable at the rate of 18% (9% CGST + 9% SGST) as stated above

Are you paying higher interest on your home loan

September 30, 2020 5901 Views 2 comments Print

During a casual conversation with my friend confession to me that he was not aware about the rate of interest charged on his home loan. I then realized that many persons who take home loan, generally, do not bother to check what rate of interest their lender is charging them. Nowadays, most of home loans […]

Dissecting capital reduction through a tax lens

September 30, 2020 30522 Views 0 comment Print

Capital reduction is a scheme of corporate restructuring wherein the existing share capital of a company is reduced by lowering the face value of shares, cancelling part of the face value of shares or by cancelling shares entirely.

MCA: Extension of Charge Scheme till 31st December, 2020

September 30, 2020 9666 Views 0 comment Print

The time period of the relaxation in Charges is going to expire on 30.09.2020. Therefore, MCA has decided to extend the said Scheme till 31.12.2020. MCA vide General Circular No. 32/ 2020 dated 28th September, 2020 has extended the said Scheme till 31st December, 2020

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