Impugned notice of reopening of assessment was issued on a dead person. There are several judgments of different High Courts holding that the notice or reopening of assessment is invalid in law. Suffice it to say, as per the settled law, notice for reopening of assessment against a dead person is invalid.
Q.1 How many names can be applied for in SPICe (INC-32)? Ans: Only one. However, for reservation of a name prior to filing SPICe (INC-32), you may use RUN service and then input the SRN of approved RUN into SPICe. Q.2 Is INC-22 still required to be filed with SPICe? Ans: It is not required […]
What is Zero Rated Supply under GST? Under GST, exports and supplies to SEZ are zero rated as per Section 16 of the IGST Act, 2017. By zero rating, it is meant that the entire supply chain of a particular supply is tax free, i.e., there is no burden of tax either on the input […]
According to Rule 46 (b) of the CGST Rules 2017, it has been specified that the GST tax invoice issued by a registered person -should have a consecutive serial number, -not exceeding 16 characters -in one or multiple series -containing alphabets or numerals or special characters and any combination thereof unique for a financial year. […]
Public Consultation on the proposal for amendment of Rules for Profit attribution to Permanent (PE) Establishment invited by CBDT. Under Article 7 in the Indian treaties, profits are to be attributed to the PE as if it were a distinct and separate entity on the basis of the accounts of the PE and where such accounts are not available to enable determination of profits attributable to the PE, the profits attributable to the PE can be determined under the domestic laws.
Reserve Bank of India Press Releases Date : Apr 18, 2019 In view of the growing significance of FinTech innovations and their interface with the financial sector as well as financial sector entities, the Financial Stability and Development Council – Sub Committee had decided to set up a Working Group (WG), to look into and […]
Customs Rate of Exchange of Foreign Currency Conversion wef 19th April, 2019 notified vide Notification No. 32/2019–Customs (N.T.) dated 18th April, 2019.
In re Shiva Writing Company Pvt. Ltd. (GST AAAR West Bengal) It is observed that the ‘tips and balls of ball point pens’ are essentially ‘parts of refills’ and the refills are parts of ball point pens. ‘Ball point pens’ are classified under Sub-heading no. 9608 10 attracting tax @ 12% while ‘Refills for ball […]
IBBI/CIRP/4065 16th April, 2019 To The Editor, Economic Times 3rd Floor, Times of India Building Opposite CST Railway Station Dr. D. N. Road Fort, Mumbai — 400001 Dear Editor, This has reference to the article titled: “Banks’ Recoveries from IBC Cases Falling” in ‘The Economic Times’ dated 16th April, 2019. The said article, interalia, carries […]
In re Gandhar Oil Refinery (India) Limited (GST AAR Maharashtra) Question 1:- Whether the applicant requires registration in each State separately? Answer :- In the present case as mentioned above the place of supply is the location of the importer who is situated in the State of Maharashtra and hence the applicant will be clearing […]
