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Archive: 13 September 2021

Posts in 13 September 2021

कैश लेनदेन का तोड़ साबित हो सकती है डिजिटल करेंसी

September 13, 2021 1665 Views 0 comment Print

आपको ध्यान होगा हम पहले शेयरों की ट्रेडिंग भौतिक रूप में करते थे. हमें न केवल शेयर सर्टिफ़िकेट सम्हाल कर रखने पड़ते थे बल्कि इसके ट्रांसफर के लिए समय और अधिक पैसे स्टाम्प फीस के रूप में खर्च होते थे. शेयर गुमने, फटने और खराब हो जाने का डर अलग. साथ ही खरीद बेच के […]

NFRA draws conclusion on comments received on consultation paper on enhanced engagement with stakeholders

September 13, 2021 633 Views 0 comment Print

NFRA has received 17 comment letters from Stakeholders, which includes important Industry Bodies, Large Accounting Firms and Research/Academia among others. Overall, stakeholders have expressed support for NFRA’s proposals to proactively promote stakeholder engagement.

Addition for Accommodation Entry not sustainable if no Adverse Finding by AO

September 13, 2021 2670 Views 0 comment Print

DCIT Vs Jaguar Buildcon Pvt. Ltd. (ITAT Delhi) We find that there is no dispute that the assessee has received share application money from six companies, out of which, from three companies assessee has received premium for sums aggregating to Rs.103,80,00,000/-. In the case of Ganesh Buildcon Pvt. Ltd., Feelgood Creation Pvt. Ltd., and Beyond […]

Writ not maintainable if due procedure followed by Authorities

September 13, 2021 987 Views 0 comment Print

In present facts of the case, the Hon’ble High Court dismissed the writ petition by making observations that the due procedure of law was followed by the Respondents under Section of the 24(4)(a)(i) of the Benami Transactions (Prohibition) Amendment Act, 2016.

Refund proceedings are in the nature of execution proceedings

September 13, 2021 1365 Views 0 comment Print

In present facts of the case the Hon’ble Tribunal gave directions to dispose of the refund applications within 3 months after the filing of new refund application on the basis of observations made on procedure of refund applications.

If there is alternative remedy available then Writ Jurisdiction shall not be invoked

September 13, 2021 2418 Views 0 comment Print

The present appeal was filed against the Order of the Single Judge of the Hon’ble Madras High Court, wherein the Writ was allowed by stating that the request of cross examination shall not be denied, but in Appeal the Division Bench allowed the appeal of Revenue and have sustained the Order of Revenue for denial for cross examination due to availability of alternative remedy.

EPC contract for infrastructure facilities is a work contract & 18% GST is payable

September 13, 2021 1920 Views 0 comment Print

In re L & T Hydrocarbon Engineering Ltd. (GST AAR Rajasthan) As per EPC contract the applicant has to complete the task, of setting up of MUPS2-EPC-2 project broadly ranging from designing, engineering, procurement, fabrication, manufacturing, assembly, erection and installation, facilities construction, Testing, Pre commissioning & Commissioning, Training etc & satisfactory hand over of complete […]

Solar Power Generating Plant is Plant & machinery eligible for ITC

September 13, 2021 6918 Views 0 comment Print

In re Pristine Industries Limited (GST AAR Rajasthan) ‘Solar Power Generating Plant’ of the applicant qualify as ‘plant and machinery’ as it falls under machinery as discussed above and not covers under (i) land, building or any other civil structures; (ii) telecommunication towers; and (iii) pipelines laid outside the factory premises. Therefore, subject to the […]

GST exempt on services relating to conduct of examination for Educational Boards

September 13, 2021 10506 Views 0 comment Print

In re Management & Computer Consultants (GST AAR West Bengal) Whether services related to pre-examination, conducting of examination and post -examination provided to Educational Boards, Council and Universities shall be treated as exempted supply. West Bengal State Council of Technical & Vocational Education and Skill Development, a statutory body, offers courses under various sections like […]

RBI cautions against frauds in the name of KYC updation

September 13, 2021 915 Views 0 comment Print

The Reserve Bank has been receiving complaints/reports about customers falling prey to frauds being perpetrated in the name of KYC updation. The usual modus operandi in such cases include receipt of unsolicited communication, such as, calls, SMSs, emails, etc., by customer urging him/her to share certain personal details, account / login details/ card information,

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