Cabinet approves release of an additional instalment of Dearness Allowance to Central Government employees and Dearness Relief to Pensions, due from 01.07.2021. An increase of 3% over the existing rate of 28% of the Basic Pay / Pension. This will benefit about 47.14 lakh Central Government employees and 68.62 lakh pensioners. Impact on the exchequer […]
You might have read my earlier article ‘Why GST Department Is Not Right In Asking Commercial Place For GST Registration?‘ published in September’2021. In the earlier article, I wrote that GST Laws does not mandate that “Commercial Address” is mandatory for GST Registrations. Further, I wrote that If we recall registration requirements of VAT Laws, […]
Where a landlord sells the land to a developer, there is no role for him in a real estate project. GST on the sale of land is not payable by virtue of Para 5 of Schedule III appended to Central and State GST Act, which provides that a transaction of sale of land shall be treated neither as a supply of goods nor a supply of services.
CESTAT held that when the customs duty is paid in excess, the department is liable to refund the same and the limitation provided under Section 27 of the Customs Act, 1962 will not be applicable.
It has come to the notice of SEBI that some registered Investment Advisers are engaged in unregulated activity by providing platform for buying/selling/dealing in unregulated products including digital gold.
In re Rasi Nutri Foods (GST AAR Tamilnadu) Concessional GST rates not applicable to activity of manufacture and supply of fortified rice kernels till Sep 30, 2021 In Rasi Nutri Foods [Order No. 39 AAR/2021 dated October 21, 2021] Authority for Advance Ruling, Karnataka (KAAR) held that Notification No.39/2017 CT(R) dated 18.10.2017 (Concessional Rate Notification) […]
In re Tamilnadu Polymer Industries Park Limited (GST AAR Tamilnadu) From the above, it is evident that an applicant can seek an Advance Ruling only in relation to supply of goods or services or both undertaken or proposed to be undertaken by them. Further, as per Section 103(1) of the GST Act, the ruling is […]
In re Healersark Resources Private Limited (GST AAR Tamilnadu) In view of the difference in the opinions of the Members as above, the case is referred to the Appellate Authority for hearing and decision on this issue in terms of Section 98(5) of the CGST/TNGST Act 2017, which provides that where the members of the […]
It has been decided to re-open the online empanelment of members to act as observers at the examination centres for the chartered accountants’ examinations, December 2021, from 22nd October 2021 to 26th October 2021.
Section 11: Property held for charitable purposes- Attempt to promote the trade, commerce and manufacturers of India without seeking to make profits for its members is charitable purpose -Denial of exemption is held to be not justified. [S. 2(15)] Case Name: Bombay Chamber of Commerce vs ITO (E) (ITAT Mumbai), Mumbai, Appeal No: ITA No. […]
