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Archive: 01 December 2022

Posts in 01 December 2022

SAED on production of Petroleum Crude reduced to Rs. 4900 per tonne

December 1, 2022 252 Views 0 comment Print

Special Additional Excise Duty (SAED) on production of Petroleum Crude reduced to Rs. 4900 per tonne vide Notification No. 40/2022-Central Excise Dated 1st December, 2022 GOVERNMENT OF INDIA MINISTRY OF FINANCE (Department of Revenue) New Delhi, Notification No. 40/2022-Central Excise Dated 1st December, 2022 G.S.R.860(E).–In exercise of the powers conferred by section 5A of the […]

Clarification with respect to NDS-OM – Investments – Master Circular

December 1, 2022 810 Views 0 comment Print

IRDAI clarified that All trades reported on NDS-OM platform shall be treated as compliance with the requirements of Para 4.11.3 of the Master Circular.

Monthly GST revenues more than ₹1.4 lakh crore for nine straight months in a row

December 1, 2022 774 Views 0 comment Print

The gross GST revenue collected in the month of November 2022 is ₹1,45,867 crore of which CGST is ₹25,681 crore, SGST is ₹32,651 crore, IGST is ₹77,103 crore (including ₹38,635 crore collected on import of goods) and Cess is ₹10,433 crore (including ₹817 crore collected on import of goods)

GST on transfer of leasehold land including other services

December 1, 2022 30423 Views 1 comment Print

In re Ranchi Smart City Corporation Limited (GST AAR Jharkhand) Q.1: Applicability of GST on transfer of leasehold land which includes other services such as Electricity Line, Water Line, Drainage Line, Road, Sewerage Line etc. like in case of plotted development., Ans: As discussed in forging paras, the leasing of property by RSCCL, if covered under the […]

GST on activity of transportation of coal from mine to railway siding

December 1, 2022 2640 Views 0 comment Print

Whether the at Pakur, till the time the railway siding is made operational at the mine, is an independent activity or part of supply of mining service? Activity of transportation of coal from the mine pit-head to the railway siding is an independent activity.

Reassessment Order In the Name of Non-Existing Entity – HC directs AO to pass fresh order

December 1, 2022 1044 Views 0 comment Print

Rajasthan Global Securities Pvt Ltd Vs ACIT (Delhi High Court) 1. Present writ petition has been filed challenging the notice dated 17th April, 2021 issued under Section 148 of the Income Tax Act, 1961 (‘the Act’), notice dated 28th May, 2022 issued under Section 148A(b) of the Act as well as the order dated 27th […]

Levy of Section 220(2A) interest is mandatory despite pendency of dispute before MAP: SC

December 1, 2022 3711 Views 0 comment Print

It is the case on behalf of the petitioner that as the dispute was pending for Mutual Agreement Procedure [MAP] resolution which subsequently came to be culminated in the year 2012 and the liability to pay the tax thereafter arose and therefore the petitioner shall be entitled to the waiver of interest under Section 220(2)(A)(ii) of the Act.

Tribunal is expected to follow direction of High Court in pith and substance

December 1, 2022 444 Views 0 comment Print

Pooja Agarwal Vs CIT (Rajasthan High Court) When there is a direction issued by the High Court, the Tribunal is expected to follow the same in pith and substance. The direction of the High Court in remanding the matter to the Tribunal was to verify the distance of the land from the outskirts of the […]

Writ petition not entertained as alternate remedy available to petitioner

December 1, 2022 1404 Views 0 comment Print

Madhya Pradesh High Court rejected the writ petition held that the petitioner is having a remedy to challenge the order/notice by way of filing an appeal and the ground raised by him with respect to jurisdiction of the authorities can always be considered by the authorities.

Refund on input services like club service, AC restaurant service, mandap keeper services etc. allowed

December 1, 2022 903 Views 0 comment Print

CESTAT Mumbai held that refund on inputs in respect of Club or Association Services, Services by Air-conditioned Restaurants, Short Term Hotel Accommodation Services, Mandap Keeper Services, Convention Services, Cable Operator Services and for Sponsorship Services as well as Event Management Services were already allowed to the appellant in earlier period. Hence the same is allowed here as well.

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