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GST on Cold Storage services related to Agricultural & Other Produce

June 11, 2018 51150 Views 0 comment Print

Goods mentioned under Group A fall under the definition of Agricultural Produce in terms of the aforesaid notification and so supply of cold storage service in relation to these is exempt from the levy of GST.

Regularization of promotion of officers to Principal CIT Grade

June 11, 2018 1596 Views 0 comment Print

Order No. 90 of 2018 In continuation of Order No. 184 of 2017 dated 26.10.2017, promotion of the following officers in the grade of Principal Commissioner of Income Tax (Pr. CIT) (level 15 in the pay matrix Rs. 1,82,200 – 2,24,100) against the panel year 2016-17 are, hereby, regularized with effect from the date of assumption of charge of the post by them:-

Rajasthan VAT: Deemed Assessment Scheme for year 2016-17

June 11, 2018 13848 Views 0 comment Print

I, Alok Gupta, Commissioner, Commercial Taxes, Rajasthan, Jaipur, hereby declare the following Deemed Assessment Scheme for the Assessment of the year 2016-17

Reassessment Proceeding initiated after 6 years is not valid; Department must prove dispatch of notice

June 9, 2018 4818 Views 0 comment Print

After issuing notice and after due dispatch, it must be placed in hands of the serving officer like the post office by speed post or by registered post etc., by which the officer issuing notice may not have control over the said notice after issuance of the said notice. It must be properly stamped and issued on the correct address to whom it has been Mere signing of notice cannot be equated with the issuance of notice as contemplated under Section 149 of the IT Act.

Expense cannot be disallowed for mere Non-debiting in books of account

June 9, 2018 6897 Views 0 comment Print

Non-debiting of the expenditure in the books of account is not relevant for allowability of the same as long as the expenditure is really incurred and is deductible as per law

Mandatory to Record UIN on invoice issued to Foreign Diplomatic Missions/Embassies/Consulates and UN Organizations

June 9, 2018 1419 Views 0 comment Print

Complaints have been receved regarding unwillingness of many big brands of groceries, clothing, retail stores, airline operators, travel agents and e-commerce websites, etc. to record UINs on invoices issued to Embassies, Missions, Consulates and UN Organizations.

Pear Tree & Equity Investments – If you give up when it’s winter…

June 9, 2018 1167 Views 0 comment Print

I am investing in equity mutual funds since last 1 year and my returns are negative, may be my mutual fund schemes are not doing good, may be I should go for other top performing scheme or dump the existing schemes or may be equity market as a whole is so risky let me stop investment… Many investors have these thoughts. If you are one of those who have similar kind of questions or doubts, go ahead and read this blog.

GST on moulds & dies, Car servicing, Tea/coffee/rubber auction & E-way Bill Requirements

June 8, 2018 28584 Views 0 comment Print

Whether moulds and dies owned by Original Equipment Manufacturers (OEM) that are sent free of cost (FOC) to a component manufacturer is leviable to tax and whether OEMs are required to reverse input tax credit in this case?

Notification under Section 7 notifying Surat airport as Customs airport

June 8, 2018 1389 Views 0 comment Print

Notification No. 51/2018-Customs (N.T.) Dated- 8th June, 2018- under Section 7 of the Customs Act, 1962 notifying Surat airport as Customs airport for Unloading of baggage and the loading of baggage

Registrars to An Issue And Share Transfer Agents (Second Amendment) Regulations, 2018

June 8, 2018 1254 Views 0 comment Print

1. These regulations may be called the Securities and Exchange Board of India (Registrars to an Issue and Share Transfer Agents) (Second Amendment) Regulations, 2018.

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