The Phase 1 referred to case of risk-based selection for examination after assessment (second check examination). Initially, in Part 1 of this phase, the goods under Assessment Group 4 in all Customs Stations were covered with effect from 05.09.2022.
Legal Entity Identifier (LEI) is a 20-character alpha-numeric code used to uniquely identify parties to financial transactions worldwide. It has been implemented to improve the quality and accuracy of financial data reporting systems for better risk management.
In re Achampet Solar Private Limited (GST AAAR Telangana) The CBIC has issued Circular No. 178/10/2022-GST dated:3.8.2022 related to GST applicability on liquidated damages. As per para 7.1.6 of the said circular, it was, interalia, observed that when principal supply is exempt, the ancillary activities to such principal supply would not get attracted to GST. […]
In this Article Author compiled CGST Act 2017 with all notification / Acts issued and changes which occurred till Till 30th September 2022 including the changes vide Finance Act, 2022. Books contains all Section of CGST Act 2017 updated with changes till 30th September 2022. Book is Updated by By Ghanshyam Upadhyay and Praveen Upadhyay […]
Govt. has announced launch of CBDCs (or e-Rupee) during the presentation of Finance Bill, 2021 which has triggered a lot of inquisitiveness amongst many stakeholders from the perspective of its Advantages, Benefits, Challenges, Threats and Concerns etc.
ITAT held that the sale of SIM cards/recharge coupons at discounted rate to the distributors was not commission and therefore not liable to deduct the TDS under Section 194H.
ITAT Bangalore held that the expenditure on account of ESOP is a revenue expenditure and had to be allowed as deduction while computing income.
ITAT Hyderabad held that for comparability of company with that of the assessee, in case of international transactions, the criteria of functionally comparability needs to be considered.
Chhattisgarh High Court held that impugned order is not sustainable as Show Cause Notice under Section 49 (3) is not stated to be issued nor placed on record by learned counsel for the State.
Bombay High Court held that sub-leasing of containers by original lessee to another lessee wherein, possession and control is transferred, the same amount to deemed sale within the meaning of Article 336(29A)(d) of the Constitution of India and hence service tax not leviable.
