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Archive: 12 May 2022

Posts in 12 May 2022

Anti-Profiteering penalty not imposable for the period prior to 01.01.2020

May 12, 2022 960 Views 0 comment Print

Sh. Rahul Sharma on behalf of Local Circles India Pvt. Ltd. Vs Mataji Paints and Hardware (NAA) Respondent has denied the benefit of tax reduction to the customers in contravention of the provisions of Section 171 (1) of the CGST Act, 2017 and he has thus committed an offence under Section 171 (3A) of the […]

Dreamhome Infrastructures guilty of profiteering: NAA

May 12, 2022 3384 Views 0 comment Print

NAA finds that benefit of additional ITC of 4.81% of turnover has accrued to Dreamhome Infrastructures for the project ‘Heritage Max’. Which was required to be passed on to recipients but not passed.

GST exemption services supplied for exams by State Examination Board

May 12, 2022 846 Views 0 comment Print

In re State Examination Board (GST AAAR Gujarat) AAAR held that- (i) The appellant is eligible to claim exemption benefit under Sl. No. 66 (aa) of Notification No. 12/2017 CT(R) dated 28.06.2017 (as amended from time to time), in respect of services supplied for the exams mentioned at Sr. No. 1 to 12 of the […]

State Examination Board eligible to claim GST exemption Notification benefit

May 12, 2022 1032 Views 0 comment Print

In re State Examination Board (GST AAAR Gujarat) (i) The appellant State Examination Board is eligible to claim exemption benefit under Sl. No. 66 (aa) of Notification No.12/2017-Central Tax (Rate) dated 28.06.2017 (as amended from time to time), in respect of services supplied for the exams mentioned at Sr. No. 1 to 12 of the list of […]

Amendment in Scheme of Exemption & reimbursement of Stamp Duty

May 12, 2022 6612 Views 0 comment Print

The enterprises making new investment or investment for expansion under the scheme, as the case may be, for reimbursement of 25% of Stamp Duty, shall submit a duly completed application in Form-S, appended to the Scheme, to the Member Secretary of the appropriate Screening Committee within 90 days of the commencement of commercial production.

Reporting Fake GST Registrations under your PAN

May 12, 2022 17037 Views 2 comments Print

Safeguard your GST identity! Learn how to report fake GST registrations under your PAN. Follow the step-by-step guide to verify and file complaints against unauthorized registrations. Stay proactive to prevent trouble.

Curious Case of Missing First Proviso to Section 149 & Miscounting of 3 Years, in CBDT Instruction on SC Judgment

May 12, 2022 13296 Views 6 comments Print

Unravel the intricacies of CBDT Instruction No. 01/2022 on SC Judgment Union of India vs Ashish Agarwal. Dive into the curious case of missing provisos in Section 149 and a miscounting of 3 years, exposing potential flaws and implications in reassessment notices. Stay informed on the evolving landscape of tax regulations.

Filing of fire insurance products for Dwellings, Micro and Small Businesses

May 12, 2022 522 Views 0 comment Print

These standard products replaced the Standard Fire and Special Perils (SFSP) policy for the named risks and no product other than the standard products was permitted for Fire and allied risks. Needless to add, the pricing of the products shall be commensurate to the risks involved.

Burning Cost for Fire perils published by IIB is not a ‘mandated minimum rate’: IRDAI

May 12, 2022 3237 Views 0 comment Print

IRDAI has been receiving several complaints from policyholders, both directly and through various platforms such as industry associations, that insurers are referring to the Burning Cost as a ‘mandated minimum rate’.

MCA invites Research studies on utilization of MCA-21 database

May 12, 2022 612 Views 0 comment Print

MCA invite research proposals under the scheme ‘Funding for Research Studies on Corporate Governance” under EC with the primary objective of utilization of the repository of corporate sector data available with the Ministry under the MCA-21 e-governance system, explore and expand the scope of utilization of MCA-21 database, formalize a research agenda and fund such research.

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