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Archive: 17 April 2023

Posts in 17 April 2023

Points to Look at in A Medical Policy

April 17, 2023 1335 Views 0 comment Print

Explore key factors for selecting a health insurance policy, including tenure, premium, post-hospitalization coverage, organ donor, and Ayush treatment benefits. Learn to safeguard your health with the right insurance.

Applicability of GST – ITC Availment & Utilisation for Construction of Silos

April 17, 2023 4092 Views 2 comments Print

Before we start we must understand the meaning of Silo – A silo is the on-site storage container that allows for the storage and distribution of different raw materials and finished products. There is a gross doubt across cement industry whether to avail & utilise GST– ITC paid for the construction of civil portion of […]

Cement silos are plant & eligible for higher rate of depreciation

April 17, 2023 1878 Views 0 comment Print

DCIT Vs Chettinad Cement Corp. Ltd. (ITAT Chennai) As per depreciation schedule, the depreciation is allowed on buildings @5% for which the buildings are mainly used for residential purposes except hotels and boarding houses. The depreciation is allowed @10% on buildings used mainly for residential purposes and not covered by the category of 5% depreciation. […]

Income Tax Search to be conducted by jurisdictional officers of assessee only

April 17, 2023 2805 Views 0 comment Print

Madras HC declares search at Anil Jain’s residence and office illegal. Jurisdictional issues raised. Reference to Section 120 and Notification S.O.2914(E) (69/2014).

Employee’s State Insurance Corporation (ESIC)

April 17, 2023 2820 Views 0 comment Print

Learn about the Employees State Insurance Corporation (ESIC) in India, a statutory body providing social security benefits to organized sector workers. Explore its medical, cash, maternity, and pension benefits, as well as the funding structure through employer and employee contributions. Understand how ESIC contributes to the well-being of workers and their families

GSTIN can be updated on SSP portal till 23rd April

April 17, 2023 1386 Views 0 comment Print

Members & Students Services (Grievances Handling and e-Sahaayataa) Directorate The Institute of Chartered Accountants of India 16’h April, 2023 Announcement Extension of last date for updation of Member’s Profile with GSTIN at Self Service Portal — Till 23rd April, 2023 This is in continuation of our Announcement dated 1st April, 2023 regarding updation of Member’s […]

E-Way Bill – Significance, Generation Process, Features & Benefits

April 17, 2023 10644 Views 1 comment Print

In India, the e-way bill is a mandatory document for the transportation of goods worth more than Rs. 50,000 (approximately USD 675) from one place to another, whether within a state or inter-state, under the Goods and Services Tax (GST) regime. The e-way bill is an electronically generated document that contains details of the goods being transported, the parties involved in the transaction, and the mode of transportation.

Notification imposing GST on fare of auto rickshaws booked via electronic platforms like UBER is valid

April 17, 2023 1872 Views 0 comment Print

Delhi High Court held that Notifications withdrawing the exemption from the ECOs and making the levy of GST, on the fare of non-air-conditioned stage carriage ticket booked through the electronic platform like UBER is constitutionally valid.

Expenditure incurred for electricity load extension charges are revenue in nature

April 17, 2023 1722 Views 0 comment Print

ITAT Kolkata held that the electricity load extension charges are allowable as revenue expenditure. Accordingly, addition towards the same is unjustifiable and liable to be set aside.

Interest income can be justified as accrued only when there is certainty of its receipts

April 17, 2023 3531 Views 0 comment Print

ITAT Mumbai held that income can be said to have accrued only when there is certainty of receipts. Accordingly, impugned interest income cannot be said to be accrued as recovery of principal amount is also doubtful.

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