HC ruled that when the services are rendered abroad, GST would not apply being export of services. Further the refund of ITC has to be allowed in the absence of any proof that incidence of tax has been passed on to the recipient. Captioned ruling has been analyzed in this update.
Understand the new section 194R of the Income-tax Act, 1961. Learn about TDS on perquisites or benefits for business or profession.
Madras HC ruled that their would not be any interest liability on transitional credit claimed through TRAN-01 which was not utilized and still available in electronic credit ledger of taxpayer. Captioned ruling has been analyzed in this update.
AAR ruled that the value to be considered for sale of used motor vehicle would be difference between Sale price & WDV on date of sale under Income Tax Act
Income Tax Act, 1961 Compliance Handbook as applicable for Fy 2022-23 (AY 2023-24) contains update on Tax Rates for FY 2022-23 & AY 2023-24, Residential Status and Scope of Total Income, Advance Tax, Tax Deducted at Source (TDS)
Analysis of applicability of section 194R Finance Bill 2022 has proposed to insert Section 194R in the Income Tax Act, 1961 (“Act”). As per the memorandum explaining the provisions in the Finance Bill, this change shall take effect from 1st July 2022, though the section has been inserted from 1st April 2022 itself. In this […]
West Bengal Authority for Advance Ruling (‘AAR’) in the case of M/s Masterly Kolkata Facility Maintenance Private Limited has ruled that although separate invoices have been issued for ‘Gas Charges’ for consumption of gas, supply of gas through pipeline is found to be naturally bundled with facility & property management services and are supplied in […]
West Bengal Authority for Advance Ruling (‘AAR’) in the case of M/s Exservicemen Resettlement Society has ruled that Sub-sections (2) and (3) of Section 15 CGST Act leave no room to deduct any amount like management fee, employer contribution to PF/ ESI etc from the value of supply and thus GST is payable on total […]
West Bengal Authority for Advance Ruling (‘AAR’) in the case of M/s Kanahiya Realty Private Limited has ruled that supply of goods such as gold coins, refrigerator etc. at nominal price to retailers against purchase of specified units of hosiery goods under a promotional scheme is neither a composite supply nor a mixed supply. AAR […]
Maharashtra Authority for Advance Ruling (‘AAR’) in the case of M/s B.G. Shirke construction Technology Pvt. Ltd. has ruled that Managerial or leadership services provided by the head/ corporate office to its group of Companies and branches are taxable in the hands of head/ corporate office as service provided to distinct entities/related persons. Captioned ruling […]
