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Archive: 11 December 2021

Posts in 11 December 2021

Most Litigative Issues on ITC

December 11, 2021 11253 Views 1 comment Print

Sales Promotion item is taxable supply at Value u/r 27 KANAHIYA REALTY PRIVATE LIMITED The supply of hosiery goods followed by the supply of goods under promotional scheme doesn’t satisfy the condition of being ‘made for a single price’ and the supplies, therefore, cannot be regarded as mixed supply – further, the said supply shall […]

Trade License mandatory for the Business Premises in Haryana

December 11, 2021 9855 Views 5 comments Print

Trade License Article Trade License is a state government permission for a business to run in the state. The state government has given authority to every district to issue the license through Municipal Corporation. It is basically checking that all the compliance of the Act (The Haryana Municipal Corporation Act, 1994) has been fulfilled to […]

Protocols for Work from Home pattern

December 11, 2021 993 Views 1 comment Print

COVID-19 has brought a new business model in India and over the globe, the Work from Home, (WFH) model which has evolved on its own has proved to be a successful model through out the country. It has accelerated the transi-tion from work in office spaces to working remotely in adverse situation.

CBIC amended Bill of Entry Regulations to ensure faster Clearances of Imports

December 11, 2021 1680 Views 0 comment Print

Bill of Entry (BE) Regulations amended to ensure faster clearances of Imports -BE to be filed in advance as per the following time-limits: Latest by end of the day of arrival of the Vessel/Aircraft/ Vehicle 1. Imports from Bangladesh. Maldives, Myanmar, Pakistan and Sri Lanka at all Sea Ports 2. All imports at all Air […]

ITC eligible to the extent of machine foundation only

December 11, 2021 29442 Views 0 comment Print

AAR held that, Input Tax Credit (ITC) can be availed on GST charged by contractor supplying service of works contract to extent of machine foundation as per Section 17(5)(c) of CGST Act.

GST on Selling of space for advertisement in print & Other media

December 11, 2021 5607 Views 0 comment Print

In re Time Education Kolkata Private Limited (GST AAR Telangana) Selling of space for advertisement in print media (SAC 998362) is taxable at the rate of 2.5% under CGST & SGST respectively. As against this the service for ‘Sale of other advertising space or time’ is enumerated as 998366 in the SAC given in the […]

GST payable on renting of temporary residential rooms to devotees

December 11, 2021 1959 Views 0 comment Print

In re Acharya Shree Mahashraman Chaturmas Vyvastha Samiti (GST AAR Telangana) Q1. Whether Applicant is liable to pay tax on renting of temporary residential rooms for consideration to the devotees and renting of space for shops and stalls for the purpose of religious programmers where the predominant object is not to do business but for […]

18% GST Payable on pulp wood & Falls under HSN Code 4403

December 11, 2021 5787 Views 0 comment Print

In re Gogineni Mohan Krishna (GST AAR Telangana) GST @5% is being paid on supply of pulp wood in terms of Chapter 4401. Whether payment of GST at the said rate of tax is correct? HSN Code 4401 is dealing in wood chips, saw dust, wood waste and scrap. It proposed to tax this items […]

Income Tax Date Extensions

December 11, 2021 26325 Views 25 comments Print

With the Income tax due dates approaching near, everyone is geared up for the upcoming filing season with the motto in the mind that Due Dates Are Closer Than They Appear But few technical and portal problems are listed out which are faced while doing the e-filing work and tasks. There has been times when […]

ICAI Election: Format for Appointment of Authorised Representative for Counting Venue

December 11, 2021 780 Views 0 comment Print

FORMAT FOR APPOINTMENT OF AUTHORISED REPRESENTATIVE FOR COUNTING (Rule 34) ELECTION – 2021 The Returning Officer/Officer-in-charge Counting Venue set up at Dear Sir, Re:  Appointment of Authorised Representative for Counting Venue I am a candidate for election to the Central Council/________ India Regional Council of the Institute of Chartered Accountants of India from _____________  India […]

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