Nagarjuna Construction Co. Ltd. was engaged in the business of Works contracts such as construction of bridges, flyovers, roads and multi-storied buildings across the India. Being a Works contractor, the Petitioner applied for registration under the CST Act and also claimed CST registration in respect of machinery, tools and equipment such as hydraulic mobile cranes,
Watch the video to enrich your knowledge regarding the present status and updates on GST. With the intention of throwing light on areas to be worked upon for the GST Laws – CGST, SGST and IGST, this presentation made by CA Bimal Jain on GST – Overview, RNR, Open Issues by CA Bimal Jain at the International Indirect Tax & GST Conference organised by the PHD Chambers of Commerce on December 17, 2015, focuses on following various suggestions/ issues.
The Government, on Monday, December 21, 2015, introduced the Insolvency and Bankruptcy Bill, 2015 (the Bankruptcy Bill), proposing to enact a single bankruptcy code setting deadlines for processing insolvency cases. Once enacted, not only will it improve the ease of doing business in India, it will also ensure better debt recovery for creditors.
Penalty is levied only when any Service tax has not been paid by reason of fraud, etc., hence, when assessee’s activity is held to be not liable to Service tax, question of imposition of penalty cannot arise- Jubilant Agri & Consumer Products Ltd. Vs. Customs, Excise & Service Tax Appellate Tribunal [2015 (64) taxmann.com 35 (Allahabad)]
GST has been missing several deadlines in the past. Perhaps, the only major reform both India and the World were looking at from the Parliament’s winter session was the passage of the 122ndConstitutional Amendment Bill, 2014 (122nd CAB or GST Bill), which promised to bring in the biggest indirect tax reform in the Country ever happened.
Subic Innovative Plastics (P.) Ltd. (the Appellant) had taken Cenvat credit on inputs and capital goods used in Research and Development (R&D) and Quality Control Laboratory situated in the factory premises.
Liability of past Excise dues payable by old Company could neither be fastened nor be recovered from assessee when the assessee had only purchased assets of old Company, which was ordered to be wound up and had not taken over their running business- Jaiprakash Associates Ltd. Vs. Union of India [2015 (64) taxmann.com 20 (Allahabad)]
SC overruled the CESTAT Larger Bench decision in Maruti Suzuki case and held that pre-delivery inspection charges and after sales service charges are not to be included in assessable value- Commissioner of Central Excise, Mysore Vs. TVS Motors Company Ltd. [2015 (12) TMI 874 – SUPREME COURT]
The Hon’ble CESTAT, Mumbai held that when the Department has not invoked the provisions for imposition of penalties under relevant Section(s), therefore, the argument put forth by the Department for imposition of penalty under the Credit Rules is unsustainable.
Refund is allowable where Service tax is paid twice by the Appellant due to clerical error and the same is proved by supporting documents- Tikaula Sugar Mills Ltd. Vs. CCE, Meerut-I [2015 (12) TMI 884 – CESTAT NEW DELHI]
