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Archive: 22 May 2021

Posts in 22 May 2021

Live Course on Appeal, Pleading & Drafting under GST by CA Sachin Jain

May 15, 2024 7170 Views 0 comment Print

oin us for an immersive live course led by renowned expert CA Sachin Jain, as we delve into the intricacies of appeal, pleading, and drafting under GST.

Delhi HC Quashes IGST Notification on Oxygen Concentrators

May 22, 2021 8112 Views 0 comment Print

Gurcharan Singh Vs Ministry of Finance (Delhi High Court) 1. Persons who are similarly circumstanced as the petitioner, i.e., those who obtain imported oxygen concentrators as gifts, for personal use, cannot also be equated with those who import oxygen concentrators for commercial use. Therefore, notification bearing no. 30/2021-Customs, dated 01.05.2021, will also have to be […]

GST Impact on Redevelopment of Residential Society – ‘A Glimpse’

May 22, 2021 6453 Views 3 comments Print

1) Under redevelopment schemes, societies intents to undertake redevelopment of existing building owned by them and for that purpose they enter into Development Agreements with Developer. 2) In this scenario, Developer will undertake new construction on the plot of land, following demolishing existing building, and will offer flats to existing members of the Society without […]

Effect of Goods and Services Tax on India Agricultural Sector

May 22, 2021 10371 Views 1 comment Print

ABSTRACT The agriculture sector is a very significant sector in the growth of the Indian economy. India is amongst the largest producer and exporter of agricultural products such as wheat, rice, sugarcane, and spices in the world. The agricultural sector is also one of the major sectors for employment in rural India. Since, the independence […]

GST on Covid Supplies

May 22, 2021 2304 Views 0 comment Print

Today entire world including India is badly hit by COVID virus and struggling hard to save the mankind. The medical fraternity and other stakeholders are leaving no stone unturned in medical treatment and health care. When we look at health care related services , it includes supply of goods, drugs and treatment . Today, on […]

Subsidized shared transport facility provided to employees in terms of employment contract is not chargeable to GST

May 22, 2021 2658 Views 1 comment Print

The AAR Uttar Pradesh, in the matter of North Shore Technologies (P.) Ltd. [Order No. 59 of 2020 June 29, 2020] has held that, arranging the transport facility for the employees by the company engaged in business of software development is not an activity which is incidental or ancillary to the activity of software development, […]

ICAI – CABF Corona Assistance

May 22, 2021 1299 Views 0 comment Print

In the year 1962-63, The Institute of Chartered Accountants of India has established a society Registered under the Societies Registration Act, 1860 in the name of ‘The Chartered Accountants’ Benevolent Fund’ having a Registration No. S-2185 of 1962-63. The membership of the Fund shall be open only to those who are members of the Institute […]

Income Tax Search & Seizure: Importance of Statement u/s 132(4) of Income Tax Act’1961, Retraction thereof.

May 22, 2021 36963 Views 4 comments Print

Authority and power to conduct search and seizure operations is strident and caustic power authorized by law to be taken recourse to when the conditions mentioned under different clauses of Section 132(1) of the Act are satisfied.

CBDT Extends Time Limits for Various Direct Tax Compliances – AY 2021-22

May 22, 2021 5607 Views 0 comment Print

The Central Board of Direct Taxes after considering the severe continuing COVID-19 pandemic situation in the country, vide Circular No. 9 of 2021, dated 20 May 2021, has extended the deadlines of certain compliances for the Assessment Year 2021-22

How much Gold/Gold Ornaments can a person hold?

May 22, 2021 3606 Views 0 comment Print

Discover the rules on how much gold or gold ornaments you can legally hold without attracting attention from the Income Tax Department.

Paradigm Shift In Appeal Proceedings Under Income Tax Act – Against Principles of “Natural Justice – Audi Alteram Partem”

May 22, 2021 2367 Views 0 comment Print

The faceless appeal scheme at first appellate stage introduced by the Government vide Finance Act, 2020 under section 250 of the Income-tax Act, 1961 brought a paradigm shift in the Appeal proceedings, in addition to it a provisions w.r.t. Income Tax Appellate Tribunal were amended vide Finance Act, 2021 for introducing faceless appeals scheme even at Appellate Tribunal (second Appellate forum).

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