"16 November 2020" Archive

350 cases registered against fake GST invoice fraudsters

Notification No. D.O.No.41/CH(IC)/2020 (16/11/2020)

Last week saw a drive launched against the entire network of GST evaders including a few tax professionals. It includes all those who have been creating, supporting, servicing and advising fraudsters in setting up a web of fake companies to engage in bogus circular trading. Passing on ITC in contravention of law results in harming busines...

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No Service Tax on Income from Screening of Movies for Annual Film Festival

Vinay Kumar Proprietor of M/s. Regal Theatre Vs Principal Commissioner of Service Tax (CESTAT Delhi)

The issue under consideration is whether service tax is applicable on income received from screening of movies for the annual film festival?...

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Release Detained Vehicle & Goods After Obtaining Bond: Gujarat HC

Majid Bilalbhai Akbani Proprietor of M/S Imran Impex Vs State of Gujarat (Gujarat High Court)

The instant petition is filed to seek to release of the detained goods and vehicles under Section 129(1) of the CGST Act. The court directed the respondent authority to release the vehicle and the goods after obtaining a bond of Rs.11,73,480 from the writ applicant....

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SCN for Confiscation of Goods or Conveyance on Mere Suspicion Not Justified

Anant Jignesh Shah Proprietor of M/S. Nakoda And Company Vs Union of India (Gujarat High Court)

The issue under consideration is whether show cause notice for confiscation of goods or conveyance is justified to issue on mere suspension under GST Act?...

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Section 54F deduction cannot be denied for subsequent letting of property for commercial use

CIT Vs Ramesh Shroff (Madras High Court)

The issue under consideration is whether deduction u/s 54F can be denied for the reason that assessee had later on let out new property for commercial purpose to run restaurant?...

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Rejection of Claims of Sales or Returns Merely on the Assumption of Failure to Produce Documentary Evidence Not Justified

Kurlon Enterprises Limited Vs State Tax Officer (Madras High Court)

The issue under consideration is whether officers can reject claims of sales or returns merely on the assumption of failure to produce documentary evidence? HC is of the view that the exercise of reconciliation has not been conducted in the manner as required by law. The impugned assessments are thus set aside....

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Interest disallowance Justified if Commercial Expediency not established

DCIT Vs Alok Industries Limited (ITAT Mumbai)

DCIT Vs Alok Industries Limited (ITAT Mumbai) Issue raised is with respect to disallowance under Section 36(1)(iii) of the Act. The Revenue contends that assessee did not have adequate interest free funds, and that assessee could not establish commercial expediency. The disallowance in this regard has been done on the same reasoning as in...

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To acquire section 153C Jurisdiction, Documents Seized must be Incriminating

ACIT Vs Realtech Construction Pvt. Ltd. (ITAT Delhi)

The issue under consideration is whether to acquire jurisdiction under section 153C is it require that the seized documents must be incriminating and must relate to the assessment year whose assessment were sought to be reopened?...

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Depreciation on Imported Software Not Considered as Royalty & Not Liable for Disallowance u/s 40(a)(ia)

Wifi Networks Pvt. Ltd Vs DCIT (ITAT Bangalore)

The issue under consideration is whether depreciation on ‘imported software’ will be considered as royalty and liable for disallowance under section 40(a)(ia) for want of TDS?...

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HC Remand Back Matter to Designated Committee to take Decision Regarding Refund under SVLDRS

Prathamesh Dream Properties P. Ltd Vs Commissioner of CGST & Central Excise & others (Bombay High Court)

Prathamesh Dream Properties P. Ltd Vs Commissioner of CGST & Central Excise & others (Bombay High Court) The issue under consideration is whether petitioner should have the benefit of relief as a declarant under the ‘pending litigation category’ and thus entitled to refund of the amount paid? High Court states that a careful a...

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HC Grants Bail to Person Alleged of Economic Offence under GST

Narayan Kumar Khaitan Vs Union of India (Orissa High Court)

The instant petition is filed to seek bail against the offences alleged against petitioner which are punishable under Sections 132(1)(b) and 132(1)(l) of the Central Goods and Services Tax Act, 2017....

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Works of Supply of Water, Disposal of Sewerage Considered as Charitable Activities & Eligible for Exemption u/s 11

PCIT (Exemptions) Vs Surat Urban Development Authority (SUDA) (Gujarat High Court)

The issue under consideration the activity of preparation of development plans and to execute works in connection with supply of water, disposal of sewerage and provisions of other services is considered as “charitable activities” and eligible for exemption u/s 11?...

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No Service Tax on Bariatric Surgery as same is Life-Saving Procedure

Mohak Hi Tech Speciality Hospital Vs Commissioner Of Central Excise, Customs and Service Tax (CESTAT Delhi)

The issue under consideration is whether service tax can be imposed on bariatric surgery even if it is a life-saving procedure? Bariatric Surgery cannot be considered as a Cosmetic or Plastic Surgery, and hence the same is not a taxable service within the meaning of clause (105) (zzzzk) of Section 65 of the Finance Act, 1994....

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E-Way Bill generation blocking after 01.12.2020 applies to all

NA (16/11/2020)

Update on Blocking of E-Way Bill (EWB) generation facility, after 1st December, 2020 1. In terms of Rule 138E (a) and (b) of the CGST Rules, 2017, the E-Way Bill (EWB) generation facility of a taxpayer is liable to be restricted, in case the taxpayer fails to file their FORM GSTR-3B returns / Statement in […]...

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Concept of Own Risk Solvency Assessment (ORSA)

The insurance companies being a financial institution prone to various types of risks. They treated as custodian to the funds of general public and hence to serve its policyholders properly they have to manage and mitigate various types of risk. These companies are taking risks of general public in lieu of payment of small amount [&hellip...

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Decoding Section 16(4) – ITC under GST– From Naked Perspective

In the recent times, the CGST Department has been aggressively issuing notices and advisory related to section 16(4) for late filing of GSTR 3B upto the March month of FY 2018-19, after due date of GSTR 3B of September Month. The Notice and advisory sent by the department is related to Reversing the ITC claimed […]...

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One held for fraudulently passing ITC of Rs 13.08 crore

Release ID: 1672747 (13/11/2020)

DGGI, Rohtak Regional Unit, has arrested one person namely, Sh. Satinder Kumar Singla, of Hisar who was found involved in issuing fake invoices from various firms without actual movement of goods having taxable value of Rs. 75 crore (approx.) and fraudulently passing ITC amounting to Rs. 13.08 crore....

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GST: Quarterly Return Monthly Payment Scheme with examples

Understanding the New GST Diwali Bonanza-Quarterly Return Monthly Payment (QRMP) Scheme with Practical Illustrations The Goods & Service Tax (GST), inspite of its PAN India roll-out as ‘One Nation One Tax’, w.e.f. 1.7.2017, has been looked upon with some reservations and apprehensions by the small and middle level businesses and t...

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November 2020