Central Government has approved the ‘Startup India Seed Fund Scheme (SISFS)’ to provide financial assistance to startups for proof of concept, prototype development, product trials, market entry and commercialization. SISFS shall provide financial assistance to startups via corpus of Rs. 945 Crore that will be disbursed through selected incubators across India in 2021-25.
The Income Tax Department carried out search and survey operations on 19.01.2021 in Jaipur on three groups, involving one jeweller and two real-estate colonizers and developers. Co-ordinated search operation was conducted at 20 premises and survey was conducted at 11 premises.
The Income Tax Department carried out search and survey operations on 12.01.2021 in the cases of leading builders located in Borivali-Mira Road-Bhayander Area of Thane.
VA Tech Wabag Ltd. Vs State of Assam (Gauhati High Court) The Rule 29 of the Assam Value Added Tax Rules 2005 provides that a claim for refund as provided under Section 50(1) of the AVAT Act, 2003 shall be made in Form 37 within 180 (one hundred and eighty days) from the date of […]
Vodafone Idea Ltd. Vs ITO (ITAT Delhi) At the outset, we find merit in the contention of the Ld. Counsel of the Assessee that in the absence of any adverse judgment by the Hon’ble Jurisdictional High Court, i.e., the Hon’ble High Court of Punjab & Haryana, there being divergence of judicial opinion on the subject […]
In re Shalby Limited (GST AAR Gujarat) Question: Whether the medicines, consumables and implants used in the course of providing health care services to in-patients for diagnosis or treatment for patients opting with or without packages along with allied services i.e. (room rent/food/doctor fees Etc.) provided by hospital would be considered as ‘Composite Supply and […]
Since it has been established from the discussions hereinabove, that NID has been formed by an Act of Parliament, the applicant will have to register themselves as a tax deductor under the provisions of Section 24 of the CGST Act, 2017 read with Section 51 of the Act, if they fulfil the condition of ‘fifty-one percent, or more participation of Government by way of equity or control, to carry out any function’.
In re Vadilal Industries Ltd. (GST AAR Gujarat) Question: What would be the classification of ‘Flavored Milk’ sold under trade name of Power Sip? Answer: ‘Flavoured milk’ is classifiable under Tariff Item 2202 99 30 of the First Schedule to the Customs Tariff Act, 1975 as a ‘beverage containing milk’. Also Read AAAR Order: ‘Power Sip’ […]
In re Pinnacles Lighting Project Private Limited Question No. 1 Whether in facts and circumstances of the case, the activities of supply installation, operation and maintenance of Greenfield Public Street Lighting System (GPSLS) carried out by the Applicant is classifiable as a supply of Works Contract Services? Answer: – Answered in the negative. Question No.2 […]
In re Apar Industries Limited (GST AAR Gujarat) Question: Whether the applicability or determination of liability to pay Tax on supply of ‘Solar DC Cables’, for use as Parts in the manufacture of Solar Power Generating System at 5% GST rate is legally correct and in order in terms of Schedule-I of Notification No.01 / […]
