In re J K Food Industries (GST AAAR Gujarat) The appellant has submitted before us that the legality and propriety of the advance ruling issued by the GAAR is required to be examined in terms of section 98(2) of the CGST Act, 2017 and decision to be taken whether the said order is correct in […]
In re G.B. Agro Industries (GST AAAR Gujarat) AAAR modified the Advance Ruling No.GUJ/GAAR/R /71/2020 dated 17.09.2020 issued by the GAAR in respect of Bio-fertilizers, by holding that the two products namely Phosphate Solubilising Bacteria and Potassium mobilising Bio-fertilizers manufactured and supplied by the appellant M/s. G.B.Agro Industries, Bharuch are classifiable under Chapter sub-heading No.31059090 […]
In re Andhra Pradesh State Road Transport Corporation (GST AAR Andhra Pradesh) Whether the transaction of hiring/leasing of buses by the APSRTC to the Public Transport Division (PTD) of Government of Andhra Pradesh is eligible for the exemption under Entry 22 of Notification No. 12/2017 Central Tax (Rate). In the instant case, it is clear […]
In re AR Raju Beverages Private Limited (GST AAR Andhra Pradesh) Whether the beverages or drinks sold in the name and style of ARTOS orange or ARTOS Clear Lemon fall under fruit pulp or fruit juice based drink or not (2202 9920), which is liable to be taxed at 6% CGST and 6% SGST? Since […]
In re Vishnu Chemicals Limited (GST AAR Andhra Pradesh) No ITC on invoices raised for the past period as hit by Period of Limitation The AAR, Andhra Pradesh, in the matter of M/s. Vishnu Chemicals Limited, [AAR No.21/AP/GST/2021 dated July 20, 2021] has held that no Input Tax Credit (“ITC”) on monthly rental tax invoices raised after […]
Central Warehousing Corporation Vs Commissioner of Central Taxes (CESTAT Chennai) The issue is with regard to the re-credit availed by the appellants on 29.03.2014 for an amount of Rs.20,83,773/-. As explained by the learned counsel for the appellants, the said re-credit is not adjustment of the excess reversal of proportionate credit in terms of Rule […]
The extension granted by Hon’ble Supreme Court order applies only to quasi-judicial and judicial matters relating to petitions/ application suits/ appeal all other proceedings. All other proceedings should be understood in the nature of the earlier used expressions but can be quasi-judicial proceedings. Hon’ble Supreme Court has stepped into to grant extensions only with reference to judicial and quasi-judicial proceedings in the nature of appeal suit petitions etc. and has not extended it to every action or proceeding under the CGST Act.
How are Fuel Prices Determined in India? Fuel rates are revised everyday at 06:00 AM in India, and this is called dynamic fuel price method. This makes sure that variations of global oil prices throughout the day are transmitted and reflected to fuel users and dealers. Let us understand few terms before understanding how the […]
Now a day Derivative Trading i.e. trading in future and options (F&O) on stocks, currencies, and commodities has become a hot topic amongst investors. Data suggest that during last two years during pandemics the trading in shares & derivative increased substantially. Unfortunately, most people have little knowledge about taxation & reposting of the same and […]
INTRODUCTION Financial distress caused by mounting non-performing assets (NPAs), stressed assets, and extended litigation afflicted India’s banking sector prior to the introduction of the Insolvency and Bankruptcy Code, 2016 (IBC). The Reserve Bank of India (RBI) tried numerous policies to help defaulting enterprises get out of trouble. The Sick Industrial Companies Act (SICA), the Companies […]
