"11 December 2020" Archive - Page 4

No penalty despite Violation of section 171(1) provisions till 31.12.2019

Rahul Sharma Vs Cloudtail India Pvt. Ltd. (NAA)

Rahul Sharma Vs Cloudtail India Pvt. Ltd. (NAA) Since, no penalty provisions were in existence between the period w.e.f. 15.11.2017 to 31.07.2018 when the Respondent had violated the provisions of Section 171 (1), the penalty prescribed under Section 171 (3A) can not be imposed on the Respondent retrospectively. Accordingly, the notice da...

Penalty provision for violation of Section 171(1) effective from 01.01.2020

Kerala State Screening Committee on Anti-Profiteering Vs Win Win Appliances (NAA)

Kerala State Screening Committee on Anti-Profiteering Vs Win Win Appliances (NAA) Section 112 of the Finance Act, 2019 specific penalty provisions have been added for violation of the provisions of Section 171 (1) which have come in to force w.e.f. 01.01.2020, by inserting Section 171 (3A). 9. Since, no penalty provisions were in existenc...

No Section 171(3A) penalty on Lifestyle International (Between 15.11.2017 to 31.01.2018

Neeru Varshney Vs Lifestyle International Pvt. Ltd.(NAA)

Neeru Varshney Vs Lifestyle International Pvt. Ltd.(NAA) It is further revealed that vide Section 112 of the Finance Act, 2019 specific penalty provisions have been added for violation of the provisions of Section 171 (1) which have come in to force w.e.f. 01.01.2020, by inserting Section 171(3A). Since, no penalty provisions were in exis...

GST: Section 171(3A) Penalty provisions not in existence between 15.11.2017 to 31.01.2018

Pawan Sharma C/O Kalptaru Departmental & General Stores Vs Sharma Trading Company (NAA)

Pawan Sharma C/O Kalptaru Departmental & General Stores Vs Sharma Trading Company (NAA) Since, no penalty provisions were in existence between the period w.e.f. 15.11.2017 to 31.01.2018 when the Respondent had violated the provisions of Section 171 (1), the penalty prescribed under Section 171 (3A) cannot be imposed on the Respondent ...

NAA withdraws Penalty Notice issued to Aster Infrahome

Santosh Kumari through Saurabh Prabhakar Vs Aster Infrahome Pvt. Ltd. (NAA)

Santosh Kumari through Saurabh Prabhakar Vs Aster Infrahome Pvt. Ltd. (NAA) It is also revealed from the perusal of the CGST Act and the Rules framed under it that the Central Government vide Notification No. 01/2020-Central Tax dated 01.01.2020 has implemented the provisions of the Finance (No. 2) Act, 2019 from 01.01.2020 vide which su...

Caroa Properties Not Guilty of Profiteering U/s. 171: NAA

Director General of Anti-Profiteering Vs Caroa Properties LLP (NAA)

Director General of Anti-Profiteering Vs Caroa Properties LLP (NAA) It is clear from a plain reading of Section 171(1) of the Act, ibid, that it deals with two situations, one relating to the passing on the benefit of reduction in the rate of tax and the second relating to the passing on of the benefit […]...

Elan Ltd. Guilty of not passing ITC benefit in its Project ‘Mercado’

Mool Chand Mittal Vs Elan Ltd. (NAA)

Mool Chand Mittal Vs Elan Ltd. (NAA) The brief facts of the case are that an application was filed under Rule 128 of the Central Goods and Services Tax Rules, 2017 by the Applicant No. 1, alleging profiteering by the Respondent in respect of purchase of Shop No. GF-0131-A, in the Respondent’s project “Mercado” situated [...

Notification  No. 111/2020 – Customs (N.T.), Dated: 11.12.2020

Notification  No. 111/2020 - Customs (N.T.) [S.O. 4517(E).] 11/12/2020

Notification No. 111/2020 – Customs (N.T.), Dated: 11.12.2020 in relation to new Land Customs Stations and/or routes with respect to Bholaganj, Nalikata, Ryngku, Jogighopa, Badarpur, Kolaghat, Dhulian, Jayanagar and Nagarkata by amendment of Principal Notification No. 63/1994-Customs (N.T.) dated 21st November, 1994. MINISTRY OF FIN...

Consultation paper on Compliance Standards for Index Providers

Press Releases No. 60/2020 11/12/2020

To prescribe a set of compliance standards for index providers in order to ensure quality and integrity of the indices administered, maintained or calculated by the index providers, a consultation paper has been issued by SEBI inviting public comments....

On Tap Targeted Long-Term Repo Operations – Extension of Specific Sectors

Press Release No. 2020-2021/763 11/12/2020

It has been decided to cover stressed sectors under the On Tap TLTRO Scheme, in synergy with the credit guarantee available under the Emergency Credit Line Guarantee Scheme (ECLGS 2.0) of the Government....

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