Divya Sree R O W Projects Vs Commissioner of Central Tax (CESTAT Bangalore) After considering the submissions of both the parties and perusal of the material on record, I find that when the passenger lift was imported, it was classified under Chapter 84 and the Classification was accepted by the Department and once the classification […]
(1) This Act may be called the General Insurance Business (Nationalisation) Amendment Act, 2021. (2) It shall come into force on such date as the Central Government may, by notification in the Official Gazette, appoint.
In re J K Papad Industries (GST AAAR Gujarat) Appellant has obtained the Advance Ruling by submitting application of advance ruling with suppression of material facts or misrepresentation of facts, and the application was not eligible to be admitted in view of proviso to sub-section (2) of section 98 of the CGST Act, 2017. Therefore, […]
Sanjay Baulal Surana Vs ACIT (Gujarat High Court) 1. The function of the assessing authority at this stage is to administer the statute and what is required is a reason to believe and not to establish fact of escapement of income and therefore, looking to the scope of Section 147 as also sections 148 to […]
The Income Tax Department conducted searches on 16.08.2021 on a company engaged in trading of telecom equipment and installation and servicing of these items for various telecom players in India. Searches were conducted at 5 premises, including the corporate office, residence of foreign director, residence of company secretary, accounts person and the cash handler of a foreign subsidiary company in India.
There is a misconception in the mind of business as well as professional community that if a person opts the provisions of presumptive taxation, then he is free to enjoy the difference between the actual profits and the presumptive profits. It is to be noted that the provisions of presumptive taxation are enacted to facilitate […]
Polytech Trade Foundation Vs Union of India (Delhi High Court) Conclusion: These are all issues involving disputed questions of fact, not amenable to adjudication under Article 226 of the Constitution of India. It is not open to the Court – just as it was not open to the executive authorities – to approach the matter solely […]
Mutual Fund is a professionally managed investment fund which pools money from many investors and invest broadly in equity, debt., combination of equity & debt (balanced or hybrid fund) and commodities. How to choose the type of Mutual Fund The objective of investment should be clear while choosing mutual fund. If the objective is to […]
Scheme Guidelines for Remission of Duties and Taxes on Exported Products (RoDTEP) As we all are aware that the new RoDTEP scheme was introduced as a part of Foreign Trade Policy replacing MEIS benefit. This much needed and awaited scheme has been announced by commerce ministry vide Notification No. 19/2015020 dated 17 August 2021 along […]
The provisions relating to taxation of activities of charitable institutions & religious trusts have been borrowed and carried over from the erstwhile service tax provisions. All services provided by such entities are not exempt. There are many other services, which would be within the extent of GST. NOTIF No.12/2017-Central Tax (Rate), exempts services provided by […]
