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Archive: 05 October 2021

Posts in 05 October 2021

GST applicability on leadership/ Management services between distinct persons

October 5, 2021 3570 Views 0 comment Print

Maharashtra Authority for Advance Ruling (‘AAR’) in the case of M/s B.G. Shirke construction Technology Pvt. Ltd. has ruled that Managerial or leadership services provided by the head/ corporate office to its group of Companies and branches are taxable in the hands of head/ corporate office as service provided to distinct entities/related persons. Captioned ruling […]

HC upheld reopening of computation of surcharge for earlier periods based on binding judgment

October 5, 2021 606 Views 0 comment Print

AO was justified to reopen the computation of surcharge for the periods 2000-01, 2001-02 and 2002-03 as re-computing the tax payable to give effect to the judgment of the Supreme Court, which the authorities were bound to do, could not be termed illegal. 

No addition on account of late deposits of employees contribution of ESI, PF if paid prior to filing of ITR.

October 5, 2021 3615 Views 0 comment Print

Addition on account of deposits of employees’ contribution of ESI and PF prior to the filing of return of income u/s 139(1) could not be disallowed under section 43B read with section 36(1)(va) if the same was prior to the amendment made by the Finance Act, 2021 w.e.f. 1.4.2021 vide Explanation 5.

Service Tax not payable on Services provided to Government Company for ‘Transmission of Electricity’

October 5, 2021 15276 Views 2 comments Print

It was held that the Appellant will be entitled to exemption as services rendered to the Government Companies, i.e., RRVPNL in the present case, post 30.06.2012, being of non-commercial nature

One Assessee -One Tax- Multiple Assessing Authorities

October 5, 2021 19683 Views 6 comments Print

GST law is a classical example of cooperative federalism which facilitates fiscal growth of all the states in the country. It has curtailed the levy of multiple taxes and promoted transparency, accountability, and reduced human interface in relation to its execution and implementation. In the Pre GST regime, there are multiple disputes with respect to […]

GST Impact of Recent Decision on Hospitality Sector

October 5, 2021 4419 Views 2 comments Print

Goods and Services Tax Council (GSTC, in short) met for its 45th GST Council meeting in physical form on 17th September at Lucknow (UP). This was the first meeting held physically after a gap of seventeen months, thanks to Covid pandemic. The GSTC considered various issues and concerns confronting GST law, administration, compliance etc and recommendations or […]

Dormant Company- Reactivation, Procedure, Key Points

October 5, 2021 12747 Views 0 comment Print

Applicable Provisions: Section 455 of the Companies Act, 2013 Where a company is formed and registered for a future project or to hold an asset or intellectual property and has no significant accounting transaction, such company or an inactive company may make an application to the Registrar for obtaining a status of the dormant company. […]

Foreign Exchange Management (Non-debt Instruments) (Third Amendment) Rules, 2021

October 5, 2021 4341 Views 0 comment Print

1) These rules may be called the Foreign Exchange Management (Non-debt Instruments) (Third Amendment) Rules, 2021. (2) They shall come into force on the date of their publication in the Official Gazette.

Judgment debtor cannot raise objections to executions in installments: SC

October 5, 2021 9291 Views 0 comment Print

Dipali Biswas & Ors. Vs Nirmalendu Mukherjee (Supreme Court of India) (i) A judgment­ debtor cannot be allowed to raise objections as to the method of execution in instalments. After having failed to raise the issue in four earlier rounds of litigation, the appellants cannot be permitted to raise it now; (ii) As we have […]

SEBI Revises mechanism of providing exit option to dissenting unit holders under REIT Regulations

October 5, 2021 555 Views 0 comment Print

Amendments to manner & mechanism of providing exit option to dissenting unit holders pursuant to Regulation 22(6A) and 22(8) of SEBI (Real Estate Investment Trusts) Regulations, 2014 (SEBI (REIT) Regulations)

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October 2021