We find that except write up provided by the applicant in respect of ‘the subject goods’, no other base is there to classify these goods. We further find that the write up provided by the applicant is incomplete and have no potential to prove ‘the subject goods’ as essential parts of Railway or locomotives or otherwise.
In re S.B. Reshellers Pvt.Ltd. (GST AAR Maharashtra) Question 1:- The activity of reshelling of old sugar mill rollers whether is treatable as a job work service under SAC 9988 or is treatable as a repair/maintenance service under SAC 9987? Answer: – The activity of reshelling of old sugar mill rollers is treatable as a repair/maintenance service […]
DCIT Vs Niyati Construction Co. (ITAT Ahmedabad) The assessee has claimed that interest on Fixed Deposit, interest on SSNL Fixed Deposit and interest on SSNL Bonds was made out of surplus funds available with the assessee and the interest income was part of the business income. Therefore, the same was correctly included for calculating remuneration […]
Mechasoft Vs Commissioner of C.G.ST. (CESTAT Mumbai) Notification No. 214/86-CE (NT) though was effective from April 1996 has been amended extensively vide Notification No. 49/2002 dated 16.09.2002 so as to make the manufacturer accountable for discharging his obligation in respect of goods under Rule 6 of the Cenvat Credit Rules, 2002. As such when the […]
तेल के दामों में भारी उथल पुथल के बीच चीन के सबसे बड़ी रीयल एस्टेट कंपनी एवरग्रांडे जिस पर 305 अरब डॉलर का वैश्विक कर्ज है और लगभग पूरे विश्व में करीब 1400 प्रोजेक्ट पर काम कर रही है, वह डिफाल्ट में आ गई है. चीनी अर्थव्यवस्था में इसका इतना प्रभाव है कि यदि चीन […]
Who should file Income Tax Return and what are the advantages of filing an Income Tax Return? Any person as described under to section 2(31) of Income tax act are required to file Income tax return if their total net income falls under the taxable category. Person includes (i) Individuals (ii) Partnership Firms (iii) HUF […]
WHAT IS TDS AND TCS IN INCOME TAX? TAX DEDUCTED AT SOURCE (TDS): TDS is known as Tax Deducted at Source, it is the income tax which is deducted from the payment made at the time of making some specified payments like rent, professional fees, commission, interest, salary etc. Normally whenever any individual earns income […]
WHAT IS PAN AND TAN? PERMANENT ACCOUNT NUMBER (PAN): PAN is assigned to all the taxpayers in India as an identification number. PAN number is a single number which is an electronic system and has all the tax related information for a company or for a person. This act as a primary key for storing […]
In present facts of the case, while dismissing Revenue Appeals it was held by the Hon’ble Tribunal that it is impossible to maintain separate account in respect of Input and input services received and used in the manufacture of LPG, as there is no intention to use the particular input and input services in a particular quantity used for manufacture of LPG. Further, it was also held that CENVAT Credit is also admissible in respect of the amount of inputs contained in any of the waste, refuse or by-product.
Understanding income tax offences and penalties. Learn about the different penalties for contravening provisions of the Income Tax Act.
