"20 July 2022" Archive

Relevance of Indirect Tax Planning In Domestic Food Expenditure – Buy More To Pay Less Tax (GST)

India is the second largest populated country in the world and heading towards occupying first position shortly. Ours is an agrarian economy where we need to balance food security, inflation, employment generation and self-sustainability. Need to underscore that large section of our population are struggling to meet both ends of the life ...

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GST rate increase for Government projects (works contracts) – impact & way forward

Recently, GST council in its 47th Council meeting has recommended for rate increase to 18% for all Government works which was followed by issuance of Notification No. 03/2022-C.T (R) dated 13.07.2022....

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GST on Residential Rent from 18th July 2022

Are you residing in a rented house ? If answer is  YES Don’t miss this important GST updates The government has brought new GST rules from 18th July 2022 for ‘Renting of Residential Property’. As per notifications 05/2022 (Central Tax Rate) dated 13 July 2022, ‘Service by way of renting of a residential dwelling to […]...

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Drawback u/s 74 not available to importer availing benefit of notification no. 27/02-Cus

Expotec International Ltd. Vs The Union of India (Bombay High Court)

Bombay High Court held that importers who fall under Notification No. 27/02-Cus dated 1st March 2002 are not entitled to any drawback under Section 74 of Customs Act 1962....

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GST on pre-packaged and labelled goods effective from 18th July 2022

Vide Notification No.6/2022 Central Tax (Rate) dated 13th July 2022 CBIC brought in many changes in the rates of various goods and brining into tax net many exempted goods. The intention of bringing in such changes were to align the rates to avoid inverted duty structure, where the rates of inputs were higher than the […]...

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SC on Service Tax on secondment Services of Overseas group company employees

Commissioner of Customs, Central Excise & Service Tax, Bangalore vs Northern Operating Systems Private Limited C.A. No. 2289-2293/2021, Supreme Court, decided on 19-05-2022 A. The Transaction B. Issue and Scope of Enquiry Issue: Whether the overseas group company or companies, with whom the assessee has entered into agreements, provid...

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Service tax demand merely based on TDS/26AS statement is unsustainable

Forward Resources Pvt. Ltd. Vs C.C.E. (CESTAT Ahmedabad)

Held that the demand of services tax is not sustainable on the basis of TDS /26AS statements....

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Sale of software products is not royalty income so not taxable in India

Microsoft Regional Sales Pte. Ltd. Vs ACIT (ITAT Delhi)

Held that it is well settled law that, the sale of software product which will not giving rise to royalty income....

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Section 263 revision without recording errors found in order is unsustainable

Diamond Beverages Private Limited Vs Pr. CIT (ITAT Kolkata)

Held that Commissioner should not simply relegate the point that the assessment order is erroneous to the AO. The Commissioner, after analyzing the record, ought to have recorded a categorical finding and provided valid reasons as to how the assessment order is erroneous. Revision unsustainable...

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Calcutta HC directs removal of Risky exporter tag and allows refund of duty drawback & IGST claim

Nexage Innovations Vs Deputy Commissioner of Customs & ors. (Calcutta High Court)

Nexage Innovations Vs Deputy Commissioner of Customs & ors. (Calcutta High Court) Calcutta High Court directs removal of Risky exporter tag and allows refund of duty drawback and IGST claim Hon’ble Division Bench of the Hon’ble Calcutta High Court in the matter M/s. Nexage Innovations Vs. The Deputy Commissioner of Customs & ...

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December 2022