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Archive: 29 December 2021

Posts in 29 December 2021

Income Tax Dept searches 2 prominent groups of Raipur & Korba

December 29, 2021 861 Views 0 comment Print

The Income Tax Department carried out search and seizure operations on 22.12.2021 on two prominent groups of Raipur and Korba, engaged in the business of manufacturing of iron & steel products, coal washery and transportation, etc. The search action covered more than 35 premises spread over Raipur, Korba, Bilaspur and Raigarh districts of Chhattisgarh.

Income Tax Search and Seizure: Controversy in computing period of limitation to frame search assessments

December 29, 2021 4605 Views 0 comment Print

The period of limitation for completion of assessment u/s 153A of the Income Tax Act’ 1961 for the searches conducted on or before 31st Day of March’2021 is governed by the provisions of Section 153B of the act. Even though the Section 153A of the Income Tax Act’ 1961 has been made non applicable for the searches initiated on or after the 1st Day of April’2021.

Right to avail ITC cannot be denied on service tax paid after introduction of GST

December 29, 2021 4326 Views 0 comment Print

Circor Flow Technologies India Private Ltd. Vs Principal Commissioner of GST & Central Excise, (CESTAT Chennai) Section 142 (3) of GST Act provides how to deal with claims of refund of service tax of tax and duty / credit under the erstwhile It is stated that therein that such claims have to be disposed in […]

Custom duty dues cannot be recovered indirectly by blocking Export Incentives

December 29, 2021 792 Views 0 comment Print

M. k. Exim (India) Limited Vs Union of India (Rajasthan High Court) We have also perused the guidelines issued by the Directorate General of Foreign Trade under circular dated 31.12.2003 for maintaining the denied entities list. It records that most common instance of action leading to refusal of licenses occurs when firms default in export […]

Wrongfully availment of ITC – HC Grants Bail

December 29, 2021 1575 Views 0 comment Print

Rohan Tanna Vs Union of India (Chhattisgarh High Court) Applicants are arrested for commission of offences punishable under Sections 16 & 132 (1) (b) & (c) of the GST Act. Section 138 of the GST Act deals with compounding of offences. Offence registered against applicants under Section 132 (1) of the GST Act is made […]

Due date for Form GSTR-9C, GSTR-9 extended to 28.02.2022 for FY 2020-21

December 29, 2021 81903 Views 0 comment Print

Due date for furnishing annual return in FORM GSTR-9 & self-certified reconciliation statement in FORM GSTR-9C for the financial year 2020-21 has been extended from 31.12.2021 to 28.02.2022 vide Notification No. 40/2021 – Central Tax | Dated: 29th December, 2021. In Addition to that CBIC has notified amendments in GST Forms and CGST Rules- a. […]

Illegal transfer of PAN – Prima–facie evidence exist against CCIT: HC

December 29, 2021 1422 Views 0 comment Print

Jharkhand HC rejects discharge plea in Anup Kumar Lakhotia case. Charges framed under IPC and Prevention of Corruption Act. Legal analysis and key details.

Amendments in GST Act: Changes Effective from 01st January 2022

December 29, 2021 5481 Views 0 comment Print

The Central Government vide Notification No. 39/2021 – Central Tax dated 21.12.2021 seeks to bring into force certain clauses of Finance Act, 2021 prospectively from 1st January 2022 and some clauses which are effective retrospectively from 1st July 2017. Summary of the analysis of amendments are as follows: Amendment to Section Clause as per Financial […]

MHA did not freeze bank accounts of Missionaries of Charity

December 29, 2021 603 Views 0 comment Print

MHA did not freeze bank accounts of Missionaries of Charity (MoC)  State Bank of India informed that Missionaries of Charity itself sent a request to SBI to freeze its accounts Renewal application under FCRA for renewal of FCRA registration refused due to adverse inputs No request / revision application has been received from Missionaries of […]

Fixed Establishment Under GST In India – Cases From European Union

December 29, 2021 7452 Views 1 comment Print

The concept of ‘fixed establishment’ under GST in India is an important one as it impacts service providers and those receiving services and having operations across multiple units located across different States. Its importance stems from the fact that where a person is said to have a fixed establishment in a particular State and can […]

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December 2021