1. In terms of rule 96A of CGST Rule-2017 which was notified under Notification No. 16/2017 dated 07-07-2017, any registered person availing the option to supply goods or services for export without payment of IGST shall furnish, prior to export, a bond or a LUT in Form GST RFD-11. 2. The facility of export under […]
The process is being automated. The Rules prescribe the submission of the necessary details electronically, through the common portal. (The common portal is the one notified vide notification 33/2021 dated 29-03-2021 and accessible at the URL www.icegate.gov.in).
Sub-section (8) of section 154 specifies that rectification application under this section need to be disposed off in a time bound manner (i.e. six months from the end of the month in which application is received).
As you are aware that Corporate Social Responsibility (CSR) is a concept that a business has a responsibility to do good. CSR means a company should self-regulated regulate its transactions so that it will be accountable for its stakeholders such as shareholders, suppliers, creditors, financial institutions, social environment, government etc. CSR means a business entity […]
In this article, I will discuss various situations having taxability implications under a deeming fiction. For the first time with the introduction of Negative List based Service Taxation, effective from 1st July 2012, a separate class of service, termed as ‘Declared Service’, was introduced under Section 66E.
As you are aware that ‘A fraud is an act of deliberate deception with the design of securing something by taking unfair advantage of another. It is a deception in order to gain by another’s loss. It is a cheating intended to get an advantage. In this Article, we are going to know some factors […]
DCIT Vs Sanverwala Jewellers Pvt Ltd (ITAT Indore) In this case Assessing Officer merely doubted the investment made by the share applicants for the reason that they did not submit any proof regarding agricultural activities done by them. It is therefore quite evident that the Assessing Officer himself accepted the identity of the share applicants […]
ACIT Vs ISMT Limited (ITAT Pune) It is settled position of law that the Assessing Officer cannot rely on the same books of accounts which are rejected for the purpose of making any other additions as held by the Hon’ble Andhra Pradesh High Court in the case of Indwell Constructions vs. CIT, 232 ITR 776 […]
Procter & Gamble Health Limited Vs ACIT (ITAT Mumbai) Undisputedly, the assessing officer had disallowed 50% of the total cost incurred by the assessee towards free samples in the relevant assessment years. Whereas, simply relying upon the decision of the learned DRP in assessment year 2013-14, learned Commissioner (Appeals) has restricted the disallowance to 20% […]
Advisory for Non Residents to get the profile status updated on the Income tax Portal/ NSDL to prevent the PAN from becoming inoperative The SC, in its judgement, upheld the legal validity of this section in its entirety and provided partial relief. Vide Press Release dated 10 June 2017 (pursuant to the SC decision) Various […]
