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Archive: 04 November 2022

Posts in 04 November 2022

IGST on Ocean Freight: Govt will not file Review Petition against SC judgment

November 4, 2022 4956 Views 0 comment Print

GST Department has decided that it will Not file Review Petition Against the Supreme Court Decision Against IGST Levy on Ocean Freight in Civil Appeal No. 1390 of 2022 filed by Union of India & Anr. Vs. M/s. Mohit Mineral Pvt. Ltd F. No. 275/11/2022-CX.8A Government of India Ministry of Finance Department of Revenue (Central […]

Govt notifies provisions of Companies Act 2013 applicable to IFSCA

November 4, 2022 1239 Views 0 comment Print

International Financial Services Centres Authority Act, 2019 (50 of 2019), the Central Government hereby directs that certain provisions of the Companies Act, 2013 (18 of 2013) as specified in column (2) of the table below, shall apply with such exceptions, modifications and adaptations as specified in column (3) of the said table, to financial products, financial services or financial institutions in an International Financial Services Centre, namely:—

Departmental Circular could not run contrary to Judicial Pronouncements: CESTAT

November 4, 2022 1173 Views 0 comment Print

CESTAT observed that the products in question would be classifiable under CTH 85177090 and not CTH 85176290 based on HSN and the Departmental Circular could not run contrary to the Judicial Pronouncements.

Haryana cancels GST registration of all non-filers of GSTR-3B till March 2021

November 4, 2022 6963 Views 0 comment Print

Excise and Taxation Department, Government of Haryana had identified a list of 373 active registered taxpayers of State jurisdiction who had not filed FORM GSTR-3B up till March 2021. These taxpayers were liable to be cancelled under the provisions of Section 29 of the HGST Act, 2017.

Depreciation allowable on table, tools, trollies used in laboratory at rate applicable on machinery

November 4, 2022 753 Views 0 comment Print

ITAT Pune held that depreciation on items like stainless steel table, tools, trollies used by scientist or lab technicians in laboratory are used for production of vaccine/ other is allowable at the rate applicable to plant and machinery

13 Reasons Why Anti-profiteering provisions under GST laws are unconstitutional

November 4, 2022 7689 Views 0 comment Print

Reason 1: Anti-profiteering provisions are Ultra vires of Article 246A of the Constitution Reason 2: Constitution of NAA is contrary to law. Reason 3: Anti-profiteering provisions are ultra vires to Articles 14 and 19(1)(g) of the Constitution

Certificate under GST Rule 145(2) Sufficient to condone delay in Appeal filing

November 4, 2022 1743 Views 0 comment Print

V.C. Infra Vs Commissioner of State Tax (Bombay High court) Heard. 02] On 18/02/2022 the Deputy Commissioner of State Tax passed an adjudication order directing the petitioner to satisfy the demand of Rs.8,43,502/-. The petitioner being aggrieved by the aforesaid, preferred an appeal before the appellate authority On 02/08/2022, the said appeal came to be […]

HC Slams VAT Commissioner for not Granting time to Reply to SCN

November 4, 2022 618 Views 0 comment Print

When the show cause notice itself clearly says that petitioner should file written statement within seven days of receipt of the notice, we fail to understand as to how 1st respondent could have arrived at such a conclusion.

NSE to display if a company is non-compliant with SDD on ‘Get Quote’ page

November 4, 2022 2985 Views 0 comment Print

Under Get Quote page of Exchange Website of Listed Entity, wherever listed, would display that company is non-compliant with SDD, from next trading day till Exchanges have satisfactorily verified that company has completely complied.

Appeal effect order has to be passed within 3 months of passing of appeal order

November 4, 2022 18048 Views 0 comment Print

In any event, in accordance with the mandate of law, the appeal effect order has to be passed within three months of passing of the appeal order.

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