Kuppan Gounder P.G. Natarajan Vs Directorate General of GST Intelligence (Madras High Court) As far as Section 6(2)(b) of the Act is concerned, this Court is of the considered opinion that the State authorities issued a notice for intimating discrepancies in the return after scrutiny in proceedings dated 17.12.2020. The said proceedings would reveal that […]
Brace Iron & Steel Pvt. Ltd. Vs Addl. CIT (ITAT Delhi) A.O. disallowed the payment of up-front fee of Rs.1,10,82,175/-on the ground that the assessee was required to pay the same as a lump sum one time non-refundable fee for processing of the loan prior to the execution of the Loan Agreement, therefore, it is […]
There was a great contribution of Chartered Accountants in Indian economy post-independence, rather we should say world economy as members of ICAI has a presence in almost every developed and developing countries of the world engaged in providing quality services in the field of accountancy, finance, auditing , business consultancy etc. In India, CA.’s are […]
Apropos, the move to retracts retrospective taxation by the Indian government by Taxation Laws (Amendment) Bill, 2021 is undoubtedly a welcome move that is likely to attract the interest of numerous foreign investors besides several business conglomerates world over. Retrospective taxation, an evil strongly deprecated and denounced even by the Indian Supreme Court in many […]
B. Anandan Vs Government of India (Madras High Court) The petitioner, who was arrested and remanded to judicial custody on 4.2.2021 for the offence punishable u/s 132 (1) (d) of the Central Goods and Service Tax Act, 2017, on the file of the respondent police, seeks bail. 2. The petitioner is an Executive Director of […]
The petitioner states that he has paid the customs duty and therefore, no further tax is to be levied. Neither Sales Tax nor Entry Tax is levied for vehicles that are imported. The contention of the petitioner is that, the goods that are manufactured in India suffers payment of Excise Duty and the goods that are imported suffers Customs Duty. By questioning the levy of Entry Tax, the petitioner has prayed for an injunction restraining the respondents from collecting the Entry Tax in respect of the imported vehicle.
The mere fact that the order of the appellate authority is not ‘acceptable’, which itself is an objectionable phrase, can be no ground for not allowing the claim unless the decision of the appellate authority has been suspended by a competent Court. Supreme Court emphasized that if such healthy rule of judicial discipline is not followed, it would result in undue harassment to the asssessees and chaos in the administration of tax laws.
Perfect Probuild P. Ltd. Vs DCIT (ITAT Delhi) A reading of section 194C with Explanation (iv) thereof makes it clear that any person responsible for paying any sum to any resident for carrying out the work of advertising, broadcasting and telecasting shall deduct an amount equivalent to 1% where the payment is being made to […]
CAIT India has sent an important communication to all Chief Ministers of Indian States drawing their attention towards GST avoidance by e-commerce players causing huge loss of GST revenue to both state & central Govt and also urged support for E-Commerce Rules under the Consumer Protection Act. Full text of their communication is as follows:- […]
No Ban on Import of Toys Government Provids All Round Support to Domestic Toy Industry by Promoting Made in India Government is not considering ban on import of toys. Government has taken several steps for promoting indigenous toys makers in the country. The details are as follows- (i) Directorate General of Foreign Trade (DGFT) vide […]
