CESTAT held that, right to claim Service Tax refund cannot be denied merely on account of procedural lapse of filing TRAN-1 before December 27, 2017.
MRF Limited Vs Ministry of Corporate Affairs (MCA) (Madras High Court) Facts- The main allegation is that when natural rubber price increased, the tyre prices were increased in a concerted manner by the domestic major tyre manufacturers, however, when the price of natural rubber decreased, the tyre prices were not reduced by the domestic major […]
Gujarat High Court quashed the Confiscation Notice GST MOV-10 and observed that goods in transit cannot be confiscated on the grounds of Under-valuation and Wrong Route.
The primary function of a stock market index is to measure stock market performance. A well-constructed index not only enables measuring of market performance but also serves as a portfolio for investment. Such an index finds use case for a variety of purposes such as benchmarking funds, launching of index funds, exchange traded funds (ETFs), underlying index for exchange traded derivative and structured products.
Shri Piyush Goyal calls for a Single window portal for doing robust common KYC system for Stock Brokers, Mutual Fund and depositories etc Shri Piyush Goyal calls for transparency and integrity in the stock markets to empower households and investment besides encourage investments. The NSE has been able to eliminate a lot of bad practices […]
Searches conducted by Income Tax Department largely in Uttar Pradesh and Maharashtra The Income Tax Department carried out search and seizure operation on 31.12.2021 on two groups engaged in the business of perfume manufacturing and real estate. Over 40 premises in the states of Uttar Pradesh, Maharashtra, Delhi, Tamil Nadu and Gujarat have been covered […]
The situations as set out in S.17(5)(h), CGST Act, 2017 indicate loss of inputs that are quantifiable, and involve external factors or compulsions. A loss that is occasioned by consumption in the process of manufacture is one which is inherent to the process of manufacture itself.
The article is in light of the Notification 39/2021-CT(R) dated 21.12.2021, wherein Central Government appoints 01.01.2022 as the date for various amendments made through Finance Act, 2021 to come into force. Amongst others, amendments to section 129 of CGST Act, ie, Detention, seizure and release of goods and conveyances wrt e-way bill contraventions, shall come […]
Please find Central Goods And Services Tax Act, 2017 (CGST Act, 2017) Updated till 01.01.2022. MINISTRY OF LAW AND JUSTICE (Legislative Department) New Delhi, the 12th April, 2017/Chaitra 22, 1939 (Saka) The following Act of Parliament received the assent of the President on the 12th April, 2017, and is hereby published for general information:— THE […]
Vimal Yashwantgiri Goswami Vs State of Gujarat (Gujarat High Court) The orders of provisional attachment under challenge could be said to have been outlived statutory right considering the fact that the orders impugned are dated 23.07.2019 and it would cease to operate on expiry of period of one year as prescribed under Section-83. The attention of […]
