CBIC has received representations from trade with regard to use of third party invoicing while claiming preferential tariff treatment in terms of Duty Free Tariff Preference Scheme for Least Developed Countries (DFTP) in respect of wholly obtained goods.
In the present matter it is observed that, Mr. Sawhney had provided his consent to accept the assignment in Form-2 on 05.04.2019 prior to the amendment made to IP regulation for acceptance of assignment in matter CIRP of MLP Developers & Promoters Private Limited before 31.12.2020. However, it is observed that the date of commencement […]
Wintech Taparia Ltd. Vs Commissioner of Customs (CESTAT Delhi) The appellant has not contended that it is not rendering a service under the category BAS. What is, however, contended by the appellant is that the services rendered by the appellant qualify as export of service under the 2005 Rules and, therefore, the appellant would not […]
Deduction under section 80D of the Income Tax Act, 1961 (‘IT Act’) is available in addition to the deduction of Rs. 1.50 Lakhs available collectively under section 80C, section 80CCC and section 80CCD (1) of IT Act. The individual can claim a tax deduction for the health insurance premium paid for self, parents, children, and spouse. […]
Validity of October’20 Dated invoices without IRN and QR code issued by tax payers covered under Rule 48(4) Objective and Scope 1. whether the invoices issued with October 2020 date by tax payers who are required to issue invoice as per Rule 48(4) i.e. e-invoice procedure are valid invoices as per law? 2. Is there […]
Companies/ Factories provide canteen facility to its employees as per Factories Act, 1948. Section 46 stipulates that any factory employing more than specified number of workers is required to provide canteen facility to its employees. Since this is mandatory, ITC of canteen services provided to employees should be available in view of proviso to section 17(5)(b) of CGST Act.
Out of the 223 entries for GST-n-You, the contest which was open from 15th Sept to 15th Oct 2020, a total of 16 participants were adjudged as the winners under three prize categories. Four entries have been selected for the Second prize of Rs 50,000/- each and the winners in this category are Sh. Arun Vijayan of Thiruvananthapuram for his video on ‘Benefits of GST for Taxpayers and Consumers’,
CIT Vs United India Insurance Company (Madras High Court) Since the provision has been made applicable to the Insurance companies as well with effect from 01.04.2003, the Tribunal has to decide the issue on merits for the assessment year 2013-2014 and decide as to whether the assessing officer was right in computing dis-allowance reserved for […]
DCIT Vs Tally Solutions Pvt.Ltd. (ITAT Bangalore) Hon’ble Supreme Court in the case of DCIT v. Control Risks India (P.) Ltd. reported in 107 taxmann.com 83, had held that when TPO proposes additions to assessee’s ALP, the AO is duty bound to pass a draft assessment order. It was held by the Hon’ble Supreme Court […]
The Authority has notified IRDAI (Minimum Information Required for Investigation and Inspection) Regulations 2020 in the official gazette on 23rd November 2020. These regulations will come into force after 6 months from the date of notification i.e., from 23rd May 2021.
