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Archive: 27 June 2022

Posts in 27 June 2022

DGGI Meerut recovers 31 Crore GST from entities not registered under GST

June 27, 2022 2112 Views 0 comment Print

Government of India Ministry of Finance Department of Revenue Central Board of Indirect Taxes & Customs North Block, New Delhi-110 001 Tel. : +91-11-23092849, Fax : +91-11-23092890 E-mail : DO No. 30/CH(IC)/2022 27th June, 2022 Last week, the 139th/ 140th Sessions of the World Customs Organization (WCO) Council were held in Brussels, Belgium. The […]

Recent Updates In GST till 26th June 2022

June 27, 2022 46020 Views 0 comment Print

Stay updated with the recent updates in GST till 26th June 2022 and understand the implications on Indias economy and stability.

Lease rentals allowed as revenue expenditure u/s 37(1) even in finance lease

June 27, 2022 9648 Views 0 comment Print

Lease charges paid for the use of the asset, without acquiring any ownership rights in the same, are allowable as revenue expenditure under Section 37 of the Act.

CESTAT allows refund of CVD & SAD paid during GST regime for import made pre June 2017

June 27, 2022 1506 Views 0 comment Print

Explore the case of ITCO Industries Ltd. vs. GST Commissioner, CESTAT Chennai’s verdict on GST refund denial, advance authorizations, and compliance issues. Get insights into the legal analysis and its implications.

Order set-aside as CIT(A) deleted addition without calling for remand report

June 27, 2022 552 Views 0 comment Print

Assessee did not submitted necessary details before AO. CIT(A) deleted the addition made by the AO on this score without calling for the remand report. Tribunal set-aside the impugned order.

Education Cess Not Allowed As Expense

June 27, 2022 3225 Views 2 comments Print

Certain taxpayers have been claiming deduction on account of ‘cess’ under section 40 of the Income Tax Act, 1961 claiming that ‘cess’ has not been specifically mentioned in the provisions of the section 40(a) (ii) of the Income Tax Act, 1961 and therefore, cess ought to be an allowable expenditure. Such assesses placed strong reliance on various judicial judgments such as Sesa Goa Limited versus JCIT (Bombay High Court).

No Service Tax leviable on cleaning services provided to non-commercial building or premises

June 27, 2022 3840 Views 0 comment Print

CESTAT set aside the Ex-parte order passed by the Revenue Department confirming the demand of Service tax along with interest and penalty on the cleaning services in respect of non-commercial building or premises.

Leveraging China Plus One strategy: – A brief about incorporation of wholly owned subsidiary of a foreign entity in India

June 27, 2022 1989 Views 0 comment Print

Discover how to leverage the China Plus One strategy with the incorporation of a wholly owned subsidiary in India. Explore the ease of doing business and the simplified process.

New Section 194R TDS Provision – Ease of Doing Business?

June 27, 2022 2268 Views 0 comment Print

Understanding the new section 194R TDS provision in the Income Tax Act. Learn about the impact on doing business and the requirement for tax deduction.

Decision on GST on Ocean Freight & Co-operative Federalism

June 27, 2022 1470 Views 0 comment Print

Learn about the recent Supreme Court decision on GST on ocean freight and its implications for cooperative federalism.

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June 2022