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Archive: October, 2022

Posts in October, 2022

Educational Institute not fall in purview of Consumer Protection Act: NCDRC

October 18, 2022 16830 Views 1 comment Print

National Consumer Disputes Redressal Commission observed that Educational matters do not come within the purview of the Consumer Protection Act, 1986 and therefore Educational Institute would also not fall within the purview of it.

Complaint against Insurance Company maintainable as insurance contract is a indemnity contract

October 18, 2022 8142 Views 0 comment Print

In present facts of the case, the National Consumer Disputes Redressal Commission have observed that contract of insurance is a contract of indemnity and, therefore, there is no question of commercial purpose in obtaining insurance coverage. Therefore, the complaint against Insurance Company is maintainable.

Partial Modification of the Membership of GST Law Committee

October 17, 2022 1041 Views 0 comment Print

F.No. 251Committees-1/GST Council-Part-1 GST Council Secretariat 5th Floor, Tower-II Jeevan Bharti Building, New Delhi Dated: 17-10-2022 OFFICE MEMORANDUM Subject: Partial Modification of the Membership of the Law Committee (LC) In partial modification to the Office Memorandum of even no. dated 29th May 2017, 30th November 2018, 22nd January 2019. 05th March 2019, 20th August 2019, […]

CENVAT of service tax paid on premium for medical insurance of employees is eligible

October 17, 2022 2511 Views 0 comment Print

CESTAT Hyderabad held that CENVAT Credit of service tax paid on premium for medical insurance of employees and their families is eligible.

Premium on forward exchange contract deductible as revenue expenditure

October 17, 2022 2934 Views 0 comment Print

ITAT Ahmedabad held that as per Accounting Standard 11 premium on forward exchange contracts is to be amortized as expense means writing it off as revenue expenditure in the profit and loss account.

What is TDS on Fixed Deposits? How is it Calculated?

October 17, 2022 29289 Views 1 comment Print

Fixed deposits not only offer a safe and assured way of earning returns but when invested correctly can also help you save on taxes. Read on to know how.

Proceedings u/s 129 of CGST Act invalid due to delay in service of detention order and notice

October 17, 2022 3636 Views 0 comment Print

Madras High Court held that proceedings initiated under section 129 of the CGST Act invalid as detention order and notice was not served within the prescribed time limit.

CENVAT of steel items used for setting up of coal washery plant eligible

October 17, 2022 462 Views 0 comment Print

CESTAT Kolkata held that CENVAT Credit of steel items used for the purpose of setting up of coal washery plant is available applying the user test principle.

Used Mild Steel (MS) plates classified as ‘waste and scrap’

October 17, 2022 2562 Views 0 comment Print

CESTAT Mumbai held that used mild steel (MS) plates industrial significance only as waste and scrap which is the feedstock for melting in furnaces and hence classifiable as waste and scrap.

No addition for Deposits in bank made from past savings

October 17, 2022 2175 Views 0 comment Print

In present facts of the case, the Income Tax Appellate Tribunal deleted the addition of Rs. 3,31,000/- by the AO, while considering the fact that the family members of the assessee were earning (but were below taxable limits), and the deposits made were from the past savings and earnings of the entire family which were pooled together.

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