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Archive: June, 2022

Posts in June, 2022

AAR Maharashtra allows Ashok Nagar Co Op Housing Societies Association Ltd to withdraw application

June 17, 2022 324 Views 0 comment Print

Application in GST ARA Form No. 01 of by MIS. Ashok Nagar Co Op Housing Societies Association Ltd, vide reference Online ARA Application Dated 10.08.2020 is disposed of, as being withdrawn voluntarily and unconditionally.

AAR Maharashtra allows Abhilekh Nitin Vaidya to withdraw application

June 17, 2022 477 Views 0 comment Print

The Application in GST ARA Form No. 01 of M/s. Abhilekh Nitin Vaidya, vide reference Online ARA Application Dated 25.07.2019 is disposed of, as being withdrawn voluntarily and unconditionally.

CBIC Notifies Rate of Exchange of Foreign Currencies wef 17.06.2022

June 16, 2022 10684 Views 0 comment Print

CBIC notifies Rate of Exchange of Foreign Currencies against Indian Rupees with effect from 17th June, 2022 vide Exchange rate Notification No. 51/2022-Cus (NT) dated 16.06.2022 GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS ***** Notification No. 51/2022 – Customs (N.T.) New Delhi, dated the 16th June, […]

Whether Interest income is eligible for deduction u/s 80IA of Income Tax Act, 1961

June 16, 2022 14289 Views 2 comments Print

Learn about the eligibility of interest income for deduction u/s 80IA of the Income Tax Act. Discover the benefits for industrial undertakings and infrastructure development.

Uploading or serving of a summary of show cause in Form GST-DRC-01 under rule 142(1) is mandatory

June 16, 2022 5223 Views 1 comment Print

Balaji Traders Vs State Tax Officer (Madras High Court) The uploading or serving of summary of show cause in Form GST-DRC-01 under Rule 142(1) is not a mere formality, but it is mandated under the Rule, so that, the Assessee would have a chance of getting summary of show cause and to respond the same […]

Notice under GST Rule 68 to be issued electronically or through post?

June 16, 2022 3747 Views 0 comment Print

Jabir Hasan Vs Assistant Commissioner of State Tax GST (Uttarakhand High Court) It is not disputed that Rule 68 of Central Goods and Services Tax Rules, 2017 provides for notice to the non filers of returns – a notice in form GSTR – 3A shall be issued electronically to a registered person who fails to […]

Order passed within 3 years from the due date of GST return not hit by limitation

June 16, 2022 1437 Views 0 comment Print

Quality Mart Vs Assistant Commissioner (ST) (Madras High Court) One of the ground raised by the petitioner dealer is that under Section 73 (10) of the TNGST Act, 2017 (Act) that the assessing officer should have passed an order within three years period from the due date for furnishing of annual return for the financial […]

No penalty on income suo motu offered by assessee in his return of income

June 16, 2022 2874 Views 0 comment Print

ACIT Vs Swapnadeep Krushi Paryatan Kendra (ITAT Pune) The AO has imposed penalty only with reference to the amount of Rs.1.50 crore which was suo motu declared by the assessee in the return. In that view of the matter, the ratio laid down in MAK data Pvt. Ltd. (supra) has no application to the facts […]

Mutual Agreement Procedures (MAP)

June 16, 2022 11550 Views 2 comments Print

Learn about Mutual Agreement Procedures (MAP) and how they help resolve double taxation and non-taxation issues in cross-border transactions.

Front Running With Context To Axis Bank’s AMF Case

June 16, 2022 2316 Views 0 comment Print

Front Running is an illegal practice of trading in the stocks based on non- published information in regard to an expected large stocks transaction which will be affecting the price of that share

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