State Bank of India Vs State of Maharashtra (Bombay High Court) In our considered view the facts in the case at hand being similar to the facts in the case of ASREC (India) Limited (Supra) that decision would squarely be applicable to the facts of this case that if any Central statute creates priority of […]
With a view to achieve this objective, certain key areas, which require immediate attention, have been identified and the following instructions/ guidelines are being hereby issued so as to smoothen the process of Faceless Assessment by the field formations.
Sara Sae P Ltd. Vs Commissioner, Customs, Central Excise & Service Tax (CESTAT Delhi) The first issue is regarding the levy of service tax on the commission received from foreign companies has recently been decided against the Revenue by this Bench in M/s Involute Engineering Pvt. Ltd.5, both with regard to the period prior to […]
Due dates for filing of Form GSTR-3B for the Tax Periods from October, 2020 till March, 2021 1. Government of India, Ministry of Finance (Department of Revenue), CBIC, vide Notification No. 82/2020 – Central Tax, dated 28th October, 2020 , has added sub rule (6) to Rule 61 of the Central Goods and Services Tax Rules, […]
The Income Tax Department carried out searches on 14.12.2020 in a group case from Erode in Tamil Nadu, covering 15 premises at Erode and Chennai. The group is a leading civil contractor for Government works, specialised in erecting Seawave breaks along the coastlines and diversified into bus transport, running marriage halls and food masala business.
DGGI, Bhubaneswar Zonal Unit has arrested one person, namely Santosh Kumar Gupta, age about 45 years, from Rourkela for issuance of fake invoices to the extent of Rs. 262 Cr. and passing of illegal and unlawful Input Tax Credit to the extent of Rs. 40 Cr.
On review of the verification requests in terms of rule 6 of CAROTAR 2020, being received by the FTA Cell in the Board, it is observed that significant number of such requests have to be returned on account of being deficient, thus leading to delay in verification process and adversely impacting trade facilitation.
Where the assessee company demolished the existing structure of building which was situated on the leasehold land, for constructing a new factory, and since there was no other asset in the block of assets, therefore, written down value of the said building claimed as short-term capital loss, was rightly allowed by Commissioner (Appeals).
In this editorial, the author clarifies on Further Extension of AGM under Companies Act, 2013 with reference to Recent MCA Circular which provides as follows:- “If a company fails to hold the AGM till 31st December 2020 for the financial year ended 31.03.2020, Whether such company can apply with the ROC for the further extension […]
CBIC notifies Rate of Exchange of Foreign Currencies against India Rupees wef 18th December, 2020, vide Notification No. 113/2020-Customs (N.T.), Dated: 17th November, 2020. GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) ***** Notification No. 113/2020 – Customs (N.T.) New Delhi, dated the 17th December, 2020 26 […]
