2 Archive - August, 2022

"August, 2022" Archive - Page 30

Service Tax cannot be levied on affiliation fees & rent collected by universities

HC held that Service Tax cannot be levied on affiliation fee and fees collected for other incidental activities by universities for providing educational services....

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Posted Under: Service Tax |

Recent Updates In GST till 23rd August 2022

India @ 75 has one distinct feature. India has transformed from an agrarian economy to service oriented economy since independence. Also it is now the fastest growing economy. Morgan Stanley expects India’s GDP growth to be @ 7% in financial year 2022-23. It is expected to contribute 28% and 22% to Asian and global economic […]...

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Rajasthan GST: SOP for write-off of irrecoverable outstanding demands

No. F.16 (752)VAT/Tax/CCT/2022-23/Part-IV/646 24/08/2022

The cases for write-off shall be initiated after adequate steps for recovery of demand have been undertaken. The foremost task for recovery of outstanding demand is the identification of movable or immovable property of a defaulter that can be attached and sold for recovery of outstanding demand(s)....

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Income Tax Department searches Ceramic Tiles Group in Gujarat

Income Tax Department conducts searches in Gujarat The Income Tax Department carried out a search and seizure operation on 09.08.2022 on a business group primarily engaged in manufacturing and trading of ceramic tiles. The search action covered a total of 36 premises, spread across Rajkot, Morbi, Ahmedabad, Raipur, Guwahati, Gurgaon, and ...

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Posted Under: Service Tax |

Refund of unutilized cenvat credit available on output tax payable by service receiver under RCM

Commissioner of CGST Delhi East Vs Anand and Anand (Delhi High Court)

Held that refund under rule 5 of the Cenvat Credit Rules is available on legal services offered by the assessee to the recipient of service located outside the taxable territory....

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Compliance of Rule 25B of Companies (Incorporation) Rules

ROC OFFICERS NOW CAN VISIT REGISTERED OFFICE OF THE COMPANY MCA vide its Notification dated 18th August, 2022, by insertion of Rule 25B in Companies (Incorporation) Rules, 2014 has granted power to ROC, when it thinks to do so, to conduct physical verification of the registered office of the company. The summary of the above […]...

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Posted Under: Service Tax |

Analysis of SEBI’s Settlement Scheme, 2022

SEBI Settlement Scheme 2020 provides an opportunity for settlement to entities who have executed reversal trades in the illiquid stock options segment of BSE between April 1, 2014 to September 30, 2015...

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Posted Under: Service Tax |

Taxpayers cannot be asked to wait endlessly for contest of order by department

Zones Corporate Solutions Pvt. Ltd. Vs Commissioner of Central Goods & Services Tax Delhi East (Delhi High Court)

High Court held that  taxpayers cannot be asked to wait endlessly for the respondents to contest the order of the Commissioner (Appeals). ...

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State Wise Collection of GST (Other Than Imports) – From July 2021 To July 2022

DATA COLLECTED AND TABLES PREPARED BY CA HARSHIL SHETH  (I always wanted to make some State wise GST collection analysis so here it is) . I have done really hard work in collecting 12 months figures. Please appreciate that this data was not readily available. Also I want to make it clear that this is […]...

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Posted Under: Service Tax |

Bombay HC stays reassessment notice after expiry of a period of six years

Dilipkumar Premji Chheda Vs Income Tax Officer Ward Thane (Bombay High Court)

Dilipkumar Premji Chheda Vs ITO (Bombay High Court) 1. Issue notice. Mr. Ajeet Manwani, learned counsel waives service for the Respondents. Objections be filed in six weeks. 2. Learned counsel for Petitioner states that the impugned notice dated 7th April, 2021 issued under Section 148 of the Act is unsustainable in law and in as [&hellip...

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