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15% NOT 24% interest Payable when Service Tax was not collected

April 22, 2021 12903 Views 0 comment Print

Bala Ji Manpower Services Vs. Union of India & others (High Court Of Punjab & Haryana) The only question that requires adjudication is at what rate petitioner is liable to pay interest i.e. 15% or 24%. Admittedly, the petitioner firm started its service after completing registration formalities in July, 2011 and the respondents have calculated […]

SC Grants conditional Bail in GST Evasion Case

April 22, 2021 1887 Views 0 comment Print

Chhaya Devi Vs Union of India & Anr. (Supreme Court of Court) Supreme Court Grants Bail to petitioner Chhaya Devi in Alleged GST Evasion Case who  is a widow with five daughters and claimed that her  business was being looked after by the Manager who was in-charge of the business. Bail is Subject to deposit […]

COVID Care facilities & makeshift hospitals are eligible CSR activity

April 22, 2021 7929 Views 3 comments Print

MCA issued General Circular No. 05/ 2021 dated 22nd April, 2021, wherein it has been clarified that spending for ‘setting up COVID Care facilities & makeshift hospitals’ is an eligible CSR activity.

Gujarat HC issues notice on artificial deduction of value of land

April 22, 2021 1473 Views 0 comment Print

Karma Buildcon Through Chetan Rameshbhai Jogi Vs Union of India (Gujarat High Court) For Builders, Real Estate developers, Para 2 Notification No.11/2017 Central Tax (Rate) dated 28.6.2017 provides for deduction of 33% from the value of supply as deemed value of land. In some of the cases due to this artificial deduction of value of […]

Special Non Resident Rupee Account (SNRR) FAQs

April 22, 2021 40320 Views 1 comment Print

Special Non Resident Rupee Account (SNRR) FAQs SERIES I The following accounts are allowed to be opened by non residents as per RBI regulations: 1. Non- Resident External Rupee (NRE) Account – Savings / Current / Recurring / Fixed Deposit account opened by Non-resident Indian (NRI) or Person of Indian Origin (PIO) to deposit his […]

Customs duty on import of Remdesivir waived off

April 20, 2021 8361 Views 0 comment Print

CBIC exempt customs duty on import of Remdesivir injection, Remdesivir API and Beta Cyclodextrin (SBEBCD) used in the manufacture of Remdesivir, up to 31st October, 2021 vide Notification No. 27/2021–Customs Dated 20th April, 2021. Government has waived the Custom Duty Considering the immediate requirement on the recommendation of the Department of Pharmaceuticals, the Department of […]

Cabinet approves Amendments to Finance Bill 2021

April 20, 2021 1935 Views 1 comment Print

The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi gives ex-post facto approval for the Government amendments to the Finance Bill, 2021 (enacted on 28th March, 2021 as the Finance Act, 2021). 

Extend time for completing compliances under GST

April 20, 2021 24762 Views 3 comments Print

Hon’ble Madam, we are approaching your honour with a humble request to extend the time for statutory compliances under Goods and Services Tax. The due date for filing GSTR-3B (Monthly Return) is today. Due date for filing GSTR-1 was 11th of April for the monthly details of March, 2021.

Delhi HC extends interim Orders till 16.07.2021 or until further orders

April 20, 2021 10170 Views 0 comment Print

Court On Its Own Motion Vs State (Govt. of NCT of Delhi) (Delhi High Court) Taking suo moto cognizance of the alarming resurgence of Covid-19, under Article 226 & 227 of the Constitution of India, it is hereby ordered that in all matters pending before this court and courts subordinate to this court, wherein such […]

Implementation of PMT-03 to re-credit the ITC sanctioned as refund

April 20, 2021 40893 Views 8 comments Print

he PMT-03 functionality available at present in the online refund module is only for re-crediting of the rejected amount that has been debited at the time of filing of refunds. In order to enable the operationalisation of re-crediting of ITC sanctioned as refund towards tax wrongly paid or paid in excess by debiting the credit ledger, a new enhanced PMT-03 functionality has been developed and deployed in the system.

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