"02 October 2020" Archive

No taxable event under GST on mere inter-State transfer of goods – HC directs refund of Tax & Penalty

Same Deutzfahr India P Ltd Vs State of Telangana (Telangana High Court)

Same Deutzfahr India P Ltd Vs State of Telangana (Telangana High Court) Once it is clear that petitioner has additional place of business in the State of Telangana in Bongulur village, Ibrahimpatnam Mandal and the goods were being transported to that address from its Corporate office at Ranipet, Tamil Nadu State, it cannot be said [&helli...

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Liquidator decision is appealable under Section 42 of IBC, 2016

P.X. Xavier Vs. K. Joseph (Kerala High Court)

P.X. Xavier Vs. K. Joseph (Kerala High Court) Admittedly, the Liquidator had taken a decision. The decision taken by the liquidator is appealable under Section 42 of the Code. The petitioners, in order to file appeal under Section 42 of the Code, filed an application to condone the delay in filing the appeal. It has […]...

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HC rejects Anticipatory Bail plea of Excise Officer in alleged gratification case

Sushil Kumar Vs. State of Punjab (Punjab & Haryana High Court)

Sushil Kumar Vs. State of Punjab (Punjab High Court) There is no quibble that the liberty of a person is of utmost importance. But when personal liberty is pitted against a sovereign function i.e. collection of tax which is life blood of the economy, the latter would prevail. Present is a case where arrest is […]...

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Income Tax TCS provision – Section 206C[1H] – wef 01/10/2020

New TCS provision u/s 206C [1H] of Income Tax Act, 1961 wef 01/10/2020 Finance Act, 2020 has made the following provisions effective from 01/10/2020 relating to TCS. The provisions in the Act is as below: 206C[1H] Every person, being a seller, who receives any amount as consideration for sale of any goods of the value […]...

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TCS on Sale of Goods-Section 206C(1H)-Easy Explanation

1. CONCEPT OF TCS Govt.  is taking step for increasing tax payers base. One such major step is levy of TCS on sale of goods u/s 206C(1H). Let us understand in simple term- If turnover of business is more than 10 Crores in F.Y. 2019-20 than it has to collect TCS @ 0.075% (Due to […]...

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Assessment of Non-Filers of Returns under GST Act

Under Scheme of CGST act, persons who are to liable for registration requires to obtain registration. Every registered person, has to determine his tax liability by making self-assessment, and after making of payment of tax, is required to furnish correct and complete prescribed returns, as per provisions of the act and rules....

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Addition based on mere Whatsapp messages is not sustainable

ACIT Vs Shri Manchukonda Shyam (ITAT Visakhapatnam)

Addition was made merely on the basis of whatsapp messages and the statement recorded from section 132(4) from Shri Lanka Anil Kumar which was subsequently retracted. Therefore we are of the view that the addition made by the AO is unsustainable....

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HC directs GST Department to refund Amount of Bank Grantee Encashed

LM Wind Power Blades India Pvt. Ltd. Vs. State of Maharashtra (Bombay High Court)

LM Wind Power Blades India Pvt. Ltd. Vs. State of Maharashtra (Bombay High Court) Learned counsel for the petitioner submits that action of respondent No. 4 in encashing the bank guarantees without waiting for expiry of the appeal period is wholly illegal and should be declared as such by this court. He submits that respondent […]...

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Notification cannot have retrospective effect unless authorised by statue: SC

Union of India & Ors. vs M/s G S Chatha Rice Mills & Anr. (Supreme Court)

Union of India & Ors. Vs M/s G S Chatha Rice Mills & Anr. (Supreme Court) In the context of the Customs Act, and having regard to the Scheme, which, in the case of import duty, consists of filing of Bill of Entry for home consumption, self-assessment and payment of duty on the basis of […]...

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GST e-invoicing – Relaxation and latest changes

E-invoicing has come into effect from Oct 01, 2020 for businesses with aggregate turnover exceeding Rs. 500 cr. in any preceding FY from 2017-18 onwards. e-invoicing – Relaxation and latest changes 1. ‘e-invoicing’ for certain classes of taxpayers has come into effect from 1-10-2020. 2. Keeping in view the hardships faced by the tax...

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