"29 December 2021" Archive

Income Tax Dept searches 2 prominent groups of Raipur & Korba

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...

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Posted Under: Income Tax |

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

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 aft...

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Posted Under: Income Tax |

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

Circor Flow Technologies India Private Ltd. Vs Principal Commissioner of GST & Central Excise, (CESTAT Chennai)

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 […]...

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Custom duty dues cannot be recovered indirectly by blocking Export Incentives

M. k. Exim (India) Limited Vs Union of India (Rajasthan High Court)

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 expo...

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Wrongfully availment of ITC – HC Grants Bail

Rohan Tanna Vs Union of India (Chhattisgarh High Court)

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 […]...

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

Notification No. 40/2021–Central Tax [G.S.R. 902(E)] 29/12/2021

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...

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

Anup Kumar Lakhotia Vs Union of India (Jharkhand High Court)

Anup Kumar Lakhotia Vs Union of India (Jharkhand High Court) The learned court below found that exercise of power u/s 264 of I.T. Act as well as transfer of PAN were used with malafide and ill intention and thus there is sufficient material against this accused petitioner for the purpose of framing of charge for […]...

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

Notification No. 39/2021 – Central Tax 21/12/2021

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 ...

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Posted Under: Income Tax |

MHA did not freeze bank accounts of Missionaries of Charity

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 Missionarie...

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Posted Under: Income Tax |

Fixed Establishment Under GST In India – Cases From European Union

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...

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Posted Under: Income Tax |

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