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Archive: 11 May 2022

Posts in 11 May 2022

Cash deposits or withdrawals above Rs 20 lakh- PAN, Aadhaar mandatory

May 11, 2022 19857 Views 0 comment Print

New Income Tax rules: PAN, Aadhaar mandatory for cash deposits or withdrawals above Rs 20 lakh. Stay compliant with the latest regulations.

Advance pricing agreements – a fresh start in India?

May 11, 2022 2232 Views 1 comment Print

In India, the underlying idea behind the scheme of APA is to make tax administration better and efficient by encouraging taxpayers to provide all the data essential for a comprehensive transfer pricing analysis and to motivate them towards engaging a mutual agreement.

Updated Return – A New Return Filing Facility under Income Tax Act

May 11, 2022 132330 Views 5 comments Print

Finance Act, 2022 has brought new Income Tax return filing facility to be known as ‘Updated Return’. For this purpose a new sub section 8(A) has been added to section 139 of the Income Tax Act (w.e.f. 01.04.2022). Simultaneously, a new Rule 12AC has also been inserted in the Income Tax Rules, wherein form and manner of filing updated return has been prescribed.

Re-imagining the culture of digital creativity and copyright law

May 11, 2022 1299 Views 0 comment Print

In this write-up, I will discuss, firstly, how infringement on a digital platform has created concerns for the creators and how the DMCA provision i.e., Section 512 (c) has failed to provide compensation for the same but still has provided relief for further distribution.

Recipient of Supply cannot file Advance Ruling application under GST

May 11, 2022 318 Views 0 comment Print

In re Gujarat Rural Industries Marketing Corporation Ltd. (GST AAR Gujarat) We refer to Section 103(1) CGST Act, which stipulates that Advance Ruling shall be binding only on the applicant who had sought it and on the concerned officer/ jurisdictional officer in respect of the applicant. Section 95(a) CGST Act defines advance ruling as a […]

No GST on Services by Security Manager located outside India for Subscription to Secured Notes placed in USA

May 11, 2022 684 Views 0 comment Print

Whether the Applicant is liable to discharge GST under the reverse charge mechanism in respect of the services of arranging for subscription supplied to the Applicant, by the Managers located in the non-taxable territory?

Fire safety product trolley classifiable under HSN 84131990

May 11, 2022 954 Views 0 comment Print

In re Swadeshi Empresa Pvt. Ltd (GST AAR Gujarat) HSN Tariff of fire safety product assembled on trolley, consisting of engine operated pump, water tank, hose reel, pipe and gun, operated through electric panel on trolley. We refer to the description of the Goods which is a water mist firefighting trolley. It is an assembly […]

GST on conference and exhibition conducted by ISCCM

May 11, 2022 19293 Views 0 comment Print

In re Indian Society of Critical Care Medicine (GST AAR Gujrat) Q1. What shall be the nature of service and classification in accordance with Notification No. 11/2017- CT R, dated 28.06.17 read with annexure attached to it in relation the following services: a. Service provided by ISCCM to the delegates; b. Service provided by ISCCM […]

TASL Gujarat cannot file advance ruling for project to be executed by TASL Bengaluru

May 11, 2022 429 Views 0 comment Print

In re Tata Advanced Systems Limited (GST AAR Gujarat) The Applicant has no locus standi to file said Advance Ruling Application, as per clause 2.2.1 of the said Contract 29-10-21, wherein the project execution unit is TASL Bengaluru GSTIN is 29AACCT5245K1ZZ. ii. The Application by the applicant is premature and without locus standi, as no […]

SUG is indispensable part of taxable value for Re-gasification service

May 11, 2022 1098 Views 0 comment Print

In Re Shell Energy India Pvt. Ltd. (GST AAR Gujarat) Issue: Whether value attributable to SUG stipulated in the Agreement between the Applicant and Customers is subject to the levy of GST and therefore, liable to be included in the consideration for re-gasification services determined as per Section 15 of the CGST Act ? Held […]

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