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Archive: 01 December 2020

Posts in 01 December 2020

Employees are hoping for ‘Work from Home’ tax relief. Will the FM grant?

December 1, 2020 5700 Views 0 comment Print

Having recently completed a short survey for personal study on #WFH trend, it was almost impulsive that I swiped the article to scan for details. It was about how, in a major policy change for IT, ITeS and BPO/ KPO industries, the Department of Telecom has significantly eased guidelines known as Other Service Provider (OSP) Guidelines.

Vivad Se Vishwas Scheme 2020- Detailed Analysis

December 1, 2020 402 Views 0 comment Print

BACKGROUND Direct Tax Vlvad se Vishwas Act, 2020 offers a win-win dispute resolution package that benefits the taxpayers as well as the Government. Taxpayers All also be better-off due to savings on account of time and resources, certainty with respect to their tax liability and immunity from penalty and prosecution. Government will benefit from timely […]

ITAT Allows Depreciation on Capitalised Jamnagar Loni Pipeline & Gandhar Plant Cost to GAIL

December 1, 2020 1059 Views 0 comment Print

Gail (India) Ltd. Vs Addl. CIT (ITAT Delhi) The rebuttal of the assessee have been considered thoroughly with the relevant documentary evidences referred therein and placed in the paper book. Considering the facts in totality, we are of the considered view that assessee has successfully commissioned the Jamnagar Loni Pipeline and the LPG Gas Processing […]

No Service Tax on Remuneration to Director in employment of the company

December 1, 2020 8772 Views 0 comment Print

Bengal Beverages Pvt. Ltd. Vs CGST & Excise, Howrah (CESTAT Kolkata) In the instant case, the only dispute herein is for payment of remuneration in the nature and form of commission based on percentage of profit to whole time directors, which is a fact on record. Section 2(94) of Companies Act, 2013, duly defines ‘whole-time […]

Quashing of Complaint Should Rather be Exception & A Rarity than an Ordinary Rule: SC

December 1, 2020 1545 Views 0 comment Print

Skoda Auto Volkswagen India Private Limited Vs State of Uttar Pradesh & Ors. (Supreme Court of India) We are unable to agree with the contention of the learned Senior Counsel for the petitioner that the substratum of the police complaint is something that is already the subject matter of adjudication before this Court in the […]

Credit cannot be denied on services used for providing warranty services

December 1, 2020 828 Views 0 comment Print

Power Build Pvt Ltd Vs C.C.E. & S.T. (CESTAT Ahmedabad) Warranty Service which implies that the value is already included in the sale price of the goods. Moreover, there is no requirement in the definition of Input Service that the value is to be included in the assessable value for the purpose of Central Excise […]

RP cannot wear hat of `Former RP’ & pursue an avoidance application: HC

December 1, 2020 2064 Views 0 comment Print

Venus Recruiters Private Limited Vs Union of India (Delhi High Court) Whether an application for avoidance of a Preferential Transaction, though filed prior to the Resolution Plan being approved, can be heard & adjudicated by the NCLT, at the instance of the RP, after the approval of the Resolution Plan? The jurisdiction of the NCLT […]

Supply of mining service | GST payable on contributions to NMET & DMF

December 1, 2020 765 Views 0 comment Print

The contributions to National Mineral Exploration Trust (NMET) and District Mineral Foundation (DMF) qualify as consideration towards supply of mining service by Andhra Pradesh Government and they being includible under value of supply, are chargeable to GST under the Reverse Charge Mechanism in the hands of the applicant, i.e., service recipient.

Summons, Inspections, Search, Seizure & Arrest provisions under GST

December 1, 2020 3861 Views 0 comment Print

GST video series by CA Bimal Jain on ‘Summons, Inspections, Search, Seizure, and Arrest provisions’ under the GST law and its various nuances – 1. What is Summon and Who can issue and to whom under GST https://youtu.be/H34ABSUsd9o 2. Inspection, Search, and Seizure by GST Officials – When and How to Handle https://youtu.be/IOCD9qVRMtI 3. When […]

Tax Invoice to have 8 digit HSN code on specified products

December 1, 2020 60198 Views 0 comment Print

Notification No. 90/2020 – Central Tax – Tax Invoice to have 8 digit HSN code on specified products classifying under various tariff items of Chapter 28, 29, 38 & 39 of CTA (Mainly Chemicals and Plastic items) and specified Chemicals falling under various tariff heading. Government of India Ministry of Finance (Department of Revenue) Central Board […]

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