Ignore prompt on liability for inward supplies attracting reverse charge in Table-3.1 (d) The system has started providing auto-populated GSTR-3B on the basis of GSTR-1 & GSTR-2B from the tax period of November 2020 onwards. In this auto-populated GSTR-3B, liability on account of inward supplies attracting reverse charge auto-populated in Table-3.1(d) is also drawn from GSTR-2B of […]
Mr Rajnish Jain Vs Manoj Kumar Singh – I.R.P. (NCLAT, Delhi) Resolution Professional or Committee of Creditors cannot reclassify status of a creditor from Financial to Operational Creditor NCLAT held that during CIRP, the IRP is authorised to collate the claims, and based on that he is empowered to constitute the Committee of Creditors. We […]
In re Thirumalai Chemicals Limited (GST AAR Tamil Nadu) Q. The value to be adopted in respect of transfer to branches located outside the state? Ans: The applicant can adopt any one of the following three methods provided under Rule 28 of the CGST/ TNGST Rules 2017 read with Section 15 of the CGST/TNGST Act […]
In re Aravind Drillers (GST AAR Tamil Nadu) 1. Drilling of Borewells for supply of water in agricultural land is not ‘Support Service for agriculture classifiable under ‘SAC 9986’ for the reasons stated in para 8.3 above 2. Letting out of compressors for pumping of water from the borewells to the agricultural field is not […]
In re M/s Faiveley Transport Rail Technologies India Limited (GST AAR Tamil Nadu) DGGSTI has taken up investigations on the classifications adopted by the applicant on their supplies to Indian Railways and classified under CTH 8607. The subject goods are supplied to `Indian Railways’ and the applicant classify the same under CTH 8607. The application […]
MCA notifies Rule 26A Purchase of minority shareholding held in demat form vide Companies (Compromises, Arrangements and Amalgamations) Second Amendment Rules, 2020. MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the 17th December, 2020 G.S.R. 773(E).—In exercise of the powers conferred by sub-sections (1) and (2) of section 469 read with sections 230 to 233 and […]
DGGI, Bhubaneswar Zonal Unit has arrested one person, namely Santosh Kumar Gupta, age about 45 years, from Rourkela for issuance of fake invoices to the extent of Rs. 262 Cr. and passing of illegal and unlawful Input Tax Credit to the extent of Rs. 40 Cr.
The Status of Kerala Vs Mohammad Sheref (Kerala high court) It has to be borne in mind that in the case of an interstate transaction the applicable statute is the IGST Act and the power of detention is exercised by virtue of the provisions of Section 20 of the IGST Act read with Section 129 […]
JCIT (LTU) Vs M/s. Texas Instruments (India) Pvt. Ltd. (ITAT Bangalore) As per the submissions made by Ld A.R, we notice that the disallowance of Rs.5.54 crores made by the AO forms part of Provision for expenses amount of Rs.9.71 crores created on 31.3.2006 relevant to AY 2006-07. It was submitted that the above said […]
M/s. Innaccel Technologies Private Ltd. Vs ACIT (ITAT Bangalore) The A.O. was of the view that the shares of the company have been over valued and accordingly asked the assessee to justify the valuation. After considering the explanations of the assessee, the A.O. took the view that the valuation report has been prepared on the […]
