Learn about the discontinuation of IGST RCM on ocean freight for imports, its legal implications, refund possibilities, and time limits. Stay informed to claim your refunds!
CESTAT Chennai held that imposition of redemption fine and penalties when goods were provisionally released, reprocessed and exported after re-processing is unjustified and hence liable to be set aside.
Calcutta High Court has quashed a second show-cause notice issued on same grounds as an earlier notice that was dropped by authority. Learn more.
Himachal Pradesh High Court held that the Bank has first charge over the properties being secured creditor in priority over all Other Debts, Revenues, Taxes, Cesses and Other Rates payable to the Central or State Government or Legal Authority.
CESTAT Kolkata held that reimbursement for miscellaneous activities by Clearing and Forwarding Agents from their clients being reimbursed on actual basis is not includible in value of taxable service and hence service tax not leviable.
ITAT Mumbai held that any expenditure incurred for purpose of earning income chargeable under the head ‘income from other sources’ is allowable as deduction u/s. 57(iii) of the Income Tax Act.
Learn about Supreme Court’s decision regarding extension of limitation period for filing written statements during Covid-19 pandemic. Analysis and implications.
ITAT Chennai held that the corporate guarantee to Associated Enterprise (AE) is an international transaction and it has to be assessed at 0.5% of the corporate commission. Hence, directed AO to restrict the disallowance at 0.5% of the guarantee value.
CESTAT Chennai held that the amount of damages received for tolerating the breach of contract by contractors and sub-contractors is not consideration. Any amount, which is not a consideration for provision of service, cannot be subjected to service tax.
ITAT Bangalore held that the compensation paid for delay in handing over of possession of the property is the liability that arose in the course of business of assessee and hence allowable as business expenditure.
