"09 March 2023" Archive

GST on building and fabricating of Tipper Body and mounting

In re Pushkar RJ Singh - Raj Agro AIDS (GST AAR Punjab)

In re Pushkar RJ Singh – Raj Agro AIDS (GST AAR Punjab) a) The activity of building and fabricating of Tipper Body and mounting the same by the applicant and collecting fabrication charges including inputs required for such fabrication work, if the chassis is owned and supplied by the customer, will result in supply of […]...

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ITC not eligible even if preceding seller not discharged its GST liability

In re Vimal Alloys Pvt. Ltd. (GST AAR Punjab)

As per provisions of Section 16(2)(c) of CGST Act read with PGST Act, the purchaser is not entitled to claim Input Tax Credit on the purchases made by it from the seller who had discharged its tax liability but the preceding seller has not discharged its liability under the Act...

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Roof Mounted Air-Conditioning unit classifiable under HSN 8415: AAAR Punjab

In re Ess Ess Kay Engineering Company Pvt (GST AAAR Punjab)

In re Ess Ess Kay Engineering Company Pvt (GST AAAR Punjab) Appellate Authority uphold the order AAR/GST/PB/016 dated 16th of August, 2022 issued by the Authority for Advance Ruling, Punjab and the appeal filed by the appellant M/s ESS ESS KAY ENGINEERING COMPANY PVT LTD. The appellant has conveniently overlooked the basic nature of the [...

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Maharashtra Amnesty Scheme, 2023 for Goods and Services Tax Department

HIGHLIGHTS OF THE MAHARASHTRA STATE BUDGET SPEECH DATED 9TH MARCH, 2023 BY HONOURABLE DEPUTY CHIEF MINISTER (FINANCE) SHRI DEVENDRA FADNAVIS PART-II (A) Amnesty Scheme, 2023 for Goods and Services Tax Department announced :— > This Amnesty Scheme will be called as ‘Maharashtra Settlement of Arrears of Tax, Interest, Penalty or Late...

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Doing Business in India – FDI Policy, Entry Routes, Permitted & Prohibited Sector

Doing Business in India – Foreign Direct Investment (FDI) Policy / Entry Routes, Permitted and Prohibited Sector, Eligible Investors and Investees Introduction The Government of India (GoI) has been focusing on making business operating in India an easy process. The concept of ease of doing business has picked up pace in past years....

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Brief understanding of Article 1 ‘Persons Covered’ of UN Model

Introduction: Article 1 of the United Nations Model Convention on Income and Capital (the Model) provides the scope and application of the Convention. It outlines the persons and entities to which the Model applies, as well as the types of taxes to which it is applicable. The Convention also provides rules for determining the residence [&...

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Sole Proprietorship Vs Company (For New business Entity)

SOLE PROPRIETORSHIP VS. COMPANY Starting a business needs a lot of planning and correct decision making. The most difficult decision for an entrepreneur while starting a business is to decide the best legal and capital structure for the business. There are various legal structures that one can choose for their business, namely, Sole propr...

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Preference Share Capital And Preference Capital

To understand the difference between preference share capital and preference capital we shall first look at the meaning of both the terms. The meaning of both terms are attached as an explanation to section 43. Explanation (ii) to the section 43 provides; “preference share capital”, with reference to any company limited by sha...

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PAN to get Inoperative with Serious Consequences if not linked with Aadhaar till 31.03.2023

It is extremely important now that if a taxpayer having PAN and who is eligible to obtain Aadhaar, links his PAN with Aadhaar on the Income Tax portal, within 31.03.2023 or else he/ she shall be liable to all the consequences under the Act for such failure as stated above, in addition to PAN remaining inoperative....

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Process for Change of Name of a Company on V3 Portal (MCA)

Section 13 deals with Alteration of MOA. As per section 13(2) read with rule 29 of the Companies (Incorporation) Rules, 2014 name change shall be approved by the Central Government (CG). The CG has delegated the power to ROC for the same. A Company Shall file Form INC-24 to seek ROC’s approval....

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April 2023