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Archive: 27 November 2020

Posts in 27 November 2020

NAA directs DGAP to reinvestigate in case of Mascot Buildcon

November 27, 2020 567 Views 0 comment Print

Prabhat Kumar Vs Mascot Buildcon Pvt. Ltd. (NAA) NAA held that apparent anomalies in the Reports of the DGAP need to be appropriately addressed by way of revisiting the investigation in the interest of justice. Since there are differences in the figures considered for computation of the profiteering amount, thorough verification of the figures is […]

NAA directs DGAP to investigate profiteering charges against 14 projects of BPTP Ltd

November 27, 2020 696 Views 0 comment Print

National Anti-profiteering Authority (NAA) directed the Director General of Anti-Profiteering (DGAP) to investigate the profiteering charges against 14 projects of BPTP Ltd and furnish his Report under Rule 129 (6) of the CGST Rules, 2017. The investigation should be carried out w.e.f. July 1, 2017 to November 31, 2020 or till the date OC had been received by BPTP in respect of the Project.

Anti-Dumping duty on Fluoroelastomers on import from China imposed for 5 years

November 27, 2020 1044 Views 0 comment Print

Seeks to impose Anti-Dumping duty on Fluoroelastomers (FKM) originating in or exported from China PR for a period of 5 years, in pursuance of sunset review final findings issued by DGTR MINISTRY OF FINANCE (Department of Revenue) New Delhi, the 27th November, 2020 Notification No. 40/2020-Customs (ADD) G.S.R. 743(E).—Whereas, the designated authority, vide notification No. 7/3/2020-DGTR, […]

NAA found ‘Prasad Media’ guilty of profiteering on Sale of Movie Tickets

November 27, 2020 426 Views 0 comment Print

Application filed by Applicant No. 1 alleging profiteering by the Respondent in respect of the supply of Services by way of admission to exhibition of cinematograph films where the price of admission ticket is above one hundred rupees despite a reduction in the rate of GST from 28% to 18% w.e.f. 01.01.2019.

Advisory on Unblocking of E-way Bill – Phase II functionality in ACES

November 27, 2020 873 Views 0 comment Print

As on date, the taxpayers are required to file the EWB-05 application manually with jurisdictional office. With the roll out of this functionality, the entire process of filing the application and processing is made online. The tax Payer needs to file EWB -05 application for unblocking of e-way Bill generation facility in the GSTN portal.

GST not payable on gifts not exceeding Rs. 50000 given by employer to an employee

November 27, 2020 4260 Views 0 comment Print

In re Beumer India Pvt. Ltd. (GST AAAR Haryana) Sub-Section (2) of Section 56 of Income Tax Act 1961 taxes sums received under the Head ‘Income from Other Sources’. Clause (vii)(a) of sub-section (2) of Section 56 includes the sum of money where it exceeds Rupees 50000/- received by an Individual or an HUF without […]

ICSI to declare Result of CS Executive Entrance Test (CSEET) today i.e. on 26.12.2020

November 27, 2020 270 Views 1 comment Print

DECLARATION OF RESULT OF COMPANY SECRETARY EXECUTIVE ENTRANCE TEST (CSEET) – NOVEMBER, 2020 The Result of CS Executive Entrance Test (CSEET) held on 21st and 22nd November, 2020 would be declared on Thursday, the 26th November, 2020 at 2:00 P.M. The result along with individual candidate’s subject-wise break-up of marks will be made available on […]

Rule 86A Department cannot block ITC for more than one year

November 27, 2020 2511 Views 0 comment Print

HC has quashed a notice and blocking of input tax credit under rule 86A whereby the credit was blocked for more than one year. Rule 86A does not empower the department to block the credit for more than one year and they are bound to unblock it even if the assessment has not taken place or got completed within one year.

No disallowance u/s 40(a)(i) for non-deduction of TDS u/s 194J on payments to expatriate employees seconded to taxpayer

November 27, 2020 1386 Views 0 comment Print

Boeing India Pvt. Ltd. Vs ACIT (ITAT Delhi) Conclusion: When expatriate employees seconded to taxpayer had worked as employees of the taxpayer company, their salary had been rightly subjected to section 192 and Explanation to section 9(1)(vii) which apparently made it clear that salary would not fall within the expression ‘fee for technical services’ and […]

UNDP and Invest India launch the SDG Investor Map for India

November 27, 2020 360 Views 0 comment Print

UNDP and Invest India have launched the SDG Investor Map for India, laying out 18 Investment Opportunities Areas (IOAs) in six critical SDG enabling sectors, that can help India push the needle forward on Sustainable Development.

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