Important letter sent to Finance Minister, Smt. Nirmala Sitharaman requesting clarification on GST on prepackaged and labelled goods and also to defer the implementation of clauses in Notification No. 6/2022 and 07/2022-CGST (R) dated 13.07.2022 pertaining to prepackaged and labelled goods. Confederation of All India Traders “Vyapar Bhawan 925/1, Naiwala, Karol Bagh, New Delhi- 110005. […]
Ahmedabad ITAT dismisses Ambica Trust’s appeal as it failed to electronically file Form 10B for exemptions under sections 11 and 12 of the Income Tax Act.
In present facts of the case, the Hon’ble ITAT held that ITR and bank statements were sufficient to prove the genuinety and for creditworthiness under Section 68 of Income Tax Act.
Held that an employee holding a civil post under a state is eligible for exemption towards amount of gratuity received under section 10(10) of Income Tax Act
Held that as the issue in question is in the academic interest and as there is no revenue implication as there are no tax dues and therefore there is zero tax effect, we close the present proceedings keeping the larger question on the Common Parlance Test open
Held that the 180 days window in Section 5 contemplates an end-point whereas the Supreme Court in the Suo Motu writ petition sought to protect the starting-point, which was at the risk of being defeated by reason of the pandemic.
Held that time limits placed by the legislature intends to enforce discipline in governance and could therefore be compelling guidelines or even mandatory prescriptions. Matter referred to three judge bench.
Held that benefit of carried forward business losses and unabsorbed dep. u/s. 72A available only if the amalgamation/demerger is genuine
Held that Revenue needs to adduce proper evidence to show that the goods are classifiable under a different heading than that claimed by the assessee. The onus is on the Revenue to establish that the item in question falls in taxing category as claimed by them.
In re Incnut Lifestyle Retail Private Limited (GST AAR Telangana) The applicant claims to be manufacturing Ayurvedic products under licenses issued by AYUSH Department of Government of Telangana. The applicant therefore is of the opinion that all the products manufactured by the applicant can be classified as Ayurvedic medicaments under chapter sub-heading ‘30049011’ @12% under […]
