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Archive: 03 November 2023

Posts in 03 November 2023

GST on process of converting raw material, owned by other Registered dealers

November 3, 2023 1245 Views 0 comment Print

Dive into GST implications of converting raw materials for Shree Avani Pharma. Analysis of AAR Gujarat’s ruling on SAC 9988 and GST rates at 12%

Escrow Deposit pending outcome of Award Not Liable to GST: AAR Gujarat

November 3, 2023 681 Views 0 comment Print

AAR held that amount deposited by the applicant (75%) in escrow account against bank guarantee pending outcome of the further challenge against Arbitral Award or dissatisfaction against DAB decision, is not liable to GST

Seizure of shawls took place in Delhi hence Delhi Court will have jurisdiction

November 3, 2023 384 Views 0 comment Print

Jammu-Kashmir and Ladakh High Court held that as the seizure of shawls containing prohibited material took place in Delhi, therefore, Delhi Court will be having jurisdiction in the matter and not the court of Jammu-Kashmir and Ladakh.

TDS from Own Account not excludible from Gross Taxable Value

November 3, 2023 435 Views 0 comment Print

CESTAT Bangalore held that TDS amount paid to the Government by the appellant from his own account not to be included in the gross taxable value. Accordingly, service tax not leviable on the same.

Bail application of Manish Sisodia in excise policy matter rejected

November 3, 2023 879 Views 0 comment Print

Supreme Court rejected the bail application of Manish Sisodia, former Deputy Chief Minister of Delhi, who has been alleged to have committed various offences under the Prevention of Corruption Act, 1988 and the Indian Penal Code, 1860 and the Prevention of Money Laundering Act, 2002.

Compensation for 10-Year Business Inactivity Is Capital Receipt

November 3, 2023 894 Views 0 comment Print

Compensation received for non-carrying of business was capital in nature as the operation of non- compete agreement was for 10 years and for the period in which the non-compete agreement was to operate, assessee’s source of income had been clamped.

Tax Treatment of Gifts Received By an Individual or HUF: Rules & Exceptions

November 3, 2023 17136 Views 0 comment Print

Tax treatment of gifts for individuals and HUFs, covering monetary, immovable, and movable property, exceptions, and COVID-19 relief provisions.

Circular No. 203/15/2023-GST: Place of Supply Clarifications simplified

November 3, 2023 31251 Views 0 comment Print

Explore the simplified clarifications in Circular No. 203/15/2023-GST regarding the place of supply for transportation of goods, advertising services, and co-location services. Stay informed for accurate GST compliance and reporting.

Constitution of State GST Co-ordination Committee for UT of Jammu & Kashmir

November 3, 2023 447 Views 0 comment Print

Get a detailed overview of the Constitution of State GST Co-ordination Committee for UT of Jammu & Kashmir. This Office Memorandum explains the committee members and its functions.

What is Due Diligence for Startups in India?

November 3, 2023 3717 Views 0 comment Print

This article discusses the essential requirements for Indian startups. To avoid facing legal repercussions, companies, startups, and other business structures must commit to MCA compliance rules

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