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Archive: 03 April 2024

Posts in 03 April 2024

AAR Allows Withdrawal of Wooden Frames Classification Application

April 3, 2024 318 Views 0 comment Print

Delve into Deepak Kumawat’s inquiry regarding the classification of wooden frames under HSN=44140000. Analysis and conclusion provided.

GST Advance ruling application not maintainable for concluded supplies

April 3, 2024 522 Views 0 comment Print

Explore the detailed analysis of the ruling by GST AAR Karnataka on the case of KBL SPML Joint Venture regarding the applicability of GST notifications to concluded and future contracts.

No Section 56(2)(x)(b)(B)(ii) Addition for Valuation Difference of less than 10%

April 3, 2024 6591 Views 0 comment Print

ITAT Mumbai ruled that no addition is warranted under Sec 56(2)(x)(b)(B)(ii) of Income Tax Act when difference between purchase value and fair market value is less than 10%.

GST Rate Clarification for Teicoplanin & Caspofungin: AAR Telangana

April 3, 2024 858 Views 0 comment Print

In re Stanex Drugs & Chemicals Private Limited (GST AAR Telangana) In a recent development, M/s. Stanex Drugs & Chemicals Private Limited sought clarity regarding the GST rates applicable to Teicoplanin and Caspofungin. The Authority for Advance Ruling (AAR) Telangana, in response to the application filed by M/s. Stanex Drugs & Chemicals Private Limited, has […]

AAAR Dismisses Appeal Withdrawn Due to GST Council Clarification

April 3, 2024 564 Views 0 comment Print

Learn about the dismissal of the appeal by ADS Agro Industries Private Limited as they withdrew their application following GST Council’s clarification on the Advance Ruling question.

CESTAT Upholds Confiscation & Penalties for Diversion of Imported Fabrics

April 3, 2024 588 Views 0 comment Print

CESTAT Delhi upholds penalties on Himachal Fashion Pvt Ltd for diverting imported fabrics, denying Customs Act benefits. Full text of the order and analysis.

Opportunity for Personal Hearing must be granted if Notices were sent to unregistered email-id

April 3, 2024 1305 Views 0 comment Print

Telangana High Court mandates granting personal hearing even if notices sent to unregistered email in Raghava-HES-Navayauga (JV) vs. Additional Commissioner of Central Tax.

IBC Authority Inappropriate for Revocation of Attachment under PMLA: NCLT

April 3, 2024 537 Views 0 comment Print

NCLT Chennai rules IBC not right for ED attachment revocation in Nathella Sampath Jewelry case. Detailed analysis of jurisdictional issues.

Compensation collected for Liquidated Damages under Agreement will be subject to GST

April 3, 2024 5529 Views 1 comment Print

Explore Andhra Pradesh AAR ruling on GST implications for liquidated damages collected by South India Krishna Oil & Fats (P.) Ltd. Detailed analysis of CGST & SGST at 9% each under Heading No. 9997.

GST: Action Points of Closing of FY 2023-24

April 3, 2024 1995 Views 0 comment Print

Prepare for the closure of FY 2023-24 with this comprehensive GST checklist. Ensure compliance with input tax credit, outward supplies, e-invoicing, and more for a seamless transition into FY 2024-25.

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