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Fare bands for domestic flights extended upto 24th February 2021

November 5, 2020 609 Views 0 comment Print

Ministry of Civil Aviation Fare bands for domestic flights extended upto 24th February, 2021 Daily passenger traffic reached over 2 lakhs Posted On: 05 NOV 2020 The fare bands within which the airlines have to operate have been extended upto 24th February, 2021 by the Ministry of Civil Aviation. These fare bands came into force […]

Rajasthan opts Option-1 to meet GST implementation shortfall

November 5, 2020 759 Views 0 comment Print

The Government of Rajasthan has communicated its acceptance for Option-1 out of the two options suggested by the Ministry of Finance to meet the shortfall in revenue arising out of GST implementation.  The State has now joined 21 other States and 3 Union Territories (Delhi, Jammu & Kashmir and Puducherry) who have opted for Option-1. 

Input tax credit denial merely on technical grounds not justified

November 5, 2020 6204 Views 1 comment Print

Heritage Lifestyles and Developers And Pvt. Ltd. Vs. Union of India (Bombay High Court) This is a case, where admittedly Petitioner could not file GST TRAN-1 on or before 27.12.2017 but had manually applied for GST TRAN-1 on 7.5.2018 as per Circular dated 03.04.2018 within the timeline as per the date extended by this Court. […]

HC Remand Back Matter to Designated Committee to take Decision Regarding Refund under SVLDRS

November 5, 2020 1437 Views 0 comment Print

Prathamesh Dream Properties P. Ltd Vs Commissioner of CGST & Central Excise & others (Bombay High Court) The issue under consideration is whether petitioner should have the benefit of relief as a declarant under the ‘pending litigation category’ and thus entitled to refund of the amount paid? High Court states that a careful and conjoint […]

MSME Ministry Letter Granting Loan & Requesting Rs 1000 as Processing Fee is Fake

November 5, 2020 4623 Views 0 comment Print

An approval letter allegedly issued by the Ministry of MSME is granting a loan and requesting a payment of ₹ 1000 on the pretext of processing fee. This letter is Fake. Ministry of MSME does not directly deal with individual beneficiaries for any of its credit schemes.

Amount Determined by Adjudicating Authority in Original Order is Eligible for SVLDR Scheme

November 5, 2020 1455 Views 0 comment Print

The issue under consideration is whether in SVLDR scheme we need to show the amount mentioned in the show cause-cum-demand notice or the amount determined by the adjudicating authority in the original order?

Clarification on news of increase in service charges by banks

November 4, 2020 1692 Views 0 comment Print

There have been several media reports alluding to steep increase in service charges by certain Public Sector Banks (PSBs).  In this context, the factual position is as follows:   

No TP addition in respect of international transaction of payment of Regional Service Charges in case value within tolerance range

November 4, 2020 2709 Views 0 comment Print

No transfer pricing addition in respect of international transaction of payment of Regional Service Charges pertaining to five intra-group services could be made because even if presume that the comparable uncontrolled transaction was at zero mark-up, still the value of the international transaction was within the notified tolerance range.

HC denies relief to CIT accused of Corruption & causing loss of Rs. 7.26 crores to revenue

November 4, 2020 2070 Views 0 comment Print

The petition is filed by retired official o quash charges in respect of offences of cheating, criminal conspiracy and Corruption against CIT(A).

HC Grants Bail to Person Alleged of Economic Offence under GST

November 4, 2020 1500 Views 0 comment Print

The instant petition is filed to seek bail against the offences alleged against petitioner which are punishable under Sections 132(1)(b) and 132(1)(l) of the Central Goods and Services Tax Act, 2017.

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