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Archive: 03 October 2024

Posts in 03 October 2024

Salary for international assignment subjected to tax in UK is not taxable in India

October 3, 2024 1092 Views 0 comment Print

ITAT Chennai held that salary received for international assignment which is subjected to tax in UK could not be taxed in India. Accordingly, claim of the assessee allowed. The assessee being non-resident individual filed return of income declaring income of Rs.2295/- and claiming refund of Rs.10.08 Lacs.

Input Tax Credit erroneously stated in final order hence matter remanded: Madras HC

October 3, 2024 732 Views 0 comment Print

The petitioner is engaged in the business of manufacture of paper, paperboard in India with focus on recycled grades and specializes in the manufacture of duplex boards, kraft paper, writing and printing papers.

Interest Charges by HDFC Bank Considered Inward Supply for Threshold Calculation of 80% under GST

October 3, 2024 1161 Views 0 comment Print

Learn if HDFC Bank’s interest charges qualify as inward supply under GST for calculating the 80% threshold in our analysis of the West Bengal AAR ruling.

GST Treatment for Second-Hand Gold Jewellery: AAR West Bengal Ruling

October 3, 2024 2139 Views 0 comment Print

GST AAR ruling clarifies tax applicability for businesses dealing in second-hand gold jewellery. Key conditions for margin scheme discussed.

Classification of Furniture/Display Cases Imported from Singapore in CKD/SKD Condition

October 3, 2024 1395 Views 0 comment Print

CAAR Mumbai rules on classification of furniture/display cases imported in CKD/SKD form from Singapore under CTH 9403. Duty exemption under AIFTA is available.

Section 75 of Gujarat VAT Act not provide for a pre-deposit requirement: HC

October 3, 2024 1326 Views 0 comment Print

Gujarat High Court quashes VAT Tribunal’s pre-deposit order in Laxmi Dye Chem case, restoring revision applications for further proceedings.

Valuation and the Role of Perpetuity

October 3, 2024 1284 Views 0 comment Print

Explore how perpetuity underpins stock valuation and enterprise value through cash flow models and discounting techniques.

Compliance Checklist on SS-1 (Meetings of Board of Directors)

October 3, 2024 4989 Views 0 comment Print

Review essential compliance steps for SS-1 meetings of the Board of Directors, ensuring proper documentation and procedural adherence.

Detention & Confiscations of Goods & Conveyances in Transit and Penalties

October 3, 2024 8880 Views 0 comment Print

Understand CGST Act Section 129 on detention, seizure, and release of goods in transit. Learn about penalties and provisions updated by the Finance Act 2021.

Challenges faced by taxpayers due to inefficiency by GST department

October 3, 2024 1653 Views 0 comment Print

Taxpayers face hurdles due to tax department inefficiencies, including contradictory affidavits and procedural oversights in legal matters.

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