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Archive: 26 November 2020

Posts in 26 November 2020

Live Course on Appeal, Pleading & Drafting under GST by CA Sachin Jain

May 15, 2024 6471 Views 0 comment Print

oin us for an immersive live course led by renowned expert CA Sachin Jain, as we delve into the intricacies of appeal, pleading, and drafting under GST.

CBDT to validate ICAI UDIN during upload of Tax Audit Reports

November 26, 2020 3141 Views 2 comments Print

The Institute of Chartered Accountants of India, in its gazette notification dated 2nd August, 2019, had made generation of UDIN from ICAI website www.icai.org mandatory for every kind of certificate/tax audit report and other attests made by their members as required by various regulators. This was introduced to curb fake certifications by non-CAs misrepresenting themselves as Chartered Accountants.

Service of fixed term employee for misconduct cannot be terminated without affording any opportunity of hearing

November 26, 2020 3150 Views 0 comment Print

The Gujarat High Court ruled that Termination of service of an employee for misconduct, even if on a fixed term, would require a domestic enquiry. However the Court held that on reinstatement the tenure of employment would not extend beyond the period of appointment.

Adjudication of Show-Cause Notices after 13 years is untenable in law: Bombay HC

November 26, 2020 12975 Views 1 comment Print

Bombay High Court held that, the commencement of adjudication proceedings after inordinate delay of 13 years post-issuance of Show Cause Notices is untenable in law and any consequential decision or order based on such adjudication proceeding is therefore, held to be invalid.

Moneyfy – Time to Get Your Money in Action

November 26, 2020 6892 Views 1 comment Print

While we are raised to abide by the principle that investment is good, we are not always pointed in the right direction in terms of tools of investments. This is why picking the right tool becomes particularly tricky for first-time investors considering the many financial options there are in the market. Hence, Tata Capital launched […]

69 posts diverted to Foreign Asset Investigation Units (FAIUs)]

November 26, 2020 1806 Views 0 comment Print

Order No. 230 of 2020 With the approval of the Finance Minister, the following existing 69 posts in the various grades of India Revenue Service are diverted to the newly created Foreign Asset Investigation Units (FAIUs) in the Investigation Directorates, with immediate effect and until further orders:

Private financial institutions performing public duties cannot be treated as ‘State’

November 26, 2020 6291 Views 0 comment Print

Kailashi Devi Vs Branch Manager And Another (Allahabad High Court) Private financial institutions, carrying of business or commercial activity, may be performing public duties, but cannot be considered to be covered under the definition of “State” under Article 12 of the Constitution of India, the writ petition against such entity is not maintainable before the […]

CENVAT Credit eligible on Sales Commission

November 26, 2020 2634 Views 0 comment Print

It has been consistently held that sales commission fall under definition of ‘input service’. By following the ratio of the above said decisions, we hold that denial of CENVAT Credit on sales commission is not sustainable in law.

Banks eligible to avail CENVAT Credit on Deposit Insurance Services

November 26, 2020 675 Views 0 comment Print

The insurance service provided by the Deposit Insurance Corporation to the banks is an ‘input service’ and CENVAT credit of service tax paid for this service received by the banks from the Deposit Insurance Corporation can be availed by the banks for rendering ‘output services’.

GST on Non-refundable Registration Fee (NRF)

November 26, 2020 6345 Views 0 comment Print

This article intents to discuss the applicability of GST on Non-refundable Registration Fee (NRF) collected by the organiser at the time of e-auction What is E-auction? E-auctions means that requirement for procurement of goods or services will be done online. All the process related to tendering (application, payment of fees, submission of bid, etc.) is […]

Section 194H TDS not applicable on Expense on providing travel, accommodation to stockists, dealers & field staff by Pharma Companies

November 26, 2020 7983 Views 0 comment Print

Intas Pharmaceuticals Ltd. Vs ACIT (ITAT Ahmedabad) Conclusion: Since assessee incurred expenses for providing facilities/services such as travel, accommodation and equipment to persons associated with it such as stockist, field staff, distributors and doctors and also incurred expenses towards distribution of various articles/gifts/other facilities to these persons, therefore, there did not exist any agency relationship […]

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