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Archive: 13 July 2023

Posts in 13 July 2023

CENVAT on invoices raised by dealers/ distributors available as service tax paid by them not disputed

July 13, 2023 516 Views 0 comment Print

CESTAT Hyderabad held that the Appellant is eligible to take the cenvat credit on the invoices raised by various car dealers, distributors for the services provided by them as payment of service tax by such dealers/ distributors not disputed.

Artificial Intelligence Vs. Trademark: Balancing Innovation & Brand Protection

July 13, 2023 1182 Views 0 comment Print

In the rapidly evolving landscape of technology and intellectual property, artificial intelligence (AI) has emerged as a powerful tool with significant implications for trademark law.

Reasons for Increasing Corporate Governance failures in Indian Start ups

July 13, 2023 1620 Views 0 comment Print

Explore the reasons behind increasing corporate governance failures in Indian startups. Uncover challenges like rapid growth, limited regulatory oversight, fundraising pressures, transparency issues, talent shortage, and cultural influences. Understand the dynamics affecting governance in the evolving startup ecosystem.

Adhoc disallowance of expense without specific finding is baseless

July 13, 2023 1158 Views 0 comment Print

ITAT Delhi held that disallowance of expenditure on adhoc basis, as a percentage of gross profit, without any specific findings is baseless and liable to be deleted.

Provisions of section 14A r.w.r. 8D cannot be invoked in absence of any exempt income

July 13, 2023 495 Views 0 comment Print

ITAT Mumbai held that provisions of section 14A r.w.s. 8D of the Income Tax Rules not invocable as assessee has not earned any exempt income during the year. Accordingly, disallowance duly deleted by CIT(A).

CENVAT for insurance premium paid towards group insurance of employees duly available

July 13, 2023 633 Views 0 comment Print

CESTAT Delhi held that the Cenvat credit for the insurance premium paid in respect of the group insurance/insurance of employees including retired employees/mediclaim is duly available as the same is having nexus to the business of the assessee.

Service tax duly payable by sub-contractor even if main contractor discharged tax liability

July 13, 2023 645 Views 0 comment Print

CESTAT Chandigarh held that sub-contractor is liable to pay service tax on ‘Erection, Commissioning and Installation service’ even if the main contractor has discharged Service Tax liability on the activity undertaken by the sub­contractor.

GST Rate on Non-Affordable Residential Apartment Construction

July 13, 2023 5889 Views 0 comment Print

GST rate and taxable value for construction of residential apartments other than affordable ones, as per ruling by AAR Kerala. Learn about applicable rates, conditions, and deductions for villas construction services.

Bodybuilding of Customer-Supplied Vehicle Chassis: GST at 18%

July 13, 2023 2022 Views 0 comment Print

This article delves into the GST implications of providing bodybuilding services on motor vehicle chassis supplied by customers. Learn about the classification, applicable tax rate, and relevant service codes for such services.

ITC Admissibility for Goods Purchased from Outsourced Vendors via Book Adjustment

July 13, 2023 1956 Views 0 comment Print

AAR ruling in the case of Paragon Polymer Products Private Limited regarding the admissibility of input tax credit (ITC) for goods purchased from outsourced vendors when consideration is settled through book adjustment.

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