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Notification No. 32/2018-Customs (N.T.), Dated: 13.04.2018

April 13, 2018 2700 Views 0 comment Print

Notification No. 32/2018-CUSTOMS (N.T.) – Change in Tariff Value of Crude Palm Oil, RBD Palm Oil, Others – Palm Oil, Crude Palmolein, RBD Palmolein, Others – Palmolein, Crude Soyabean Oil, Brass Scrap (All Grades), Poppy Seeds, Areca Nuts, Gold and Silver Notified

Kerala GST Rules interfering with lottery business are Unconstitutional

April 13, 2018 6873 Views 0 comment Print

M/s Teesta Distribution Vs State of Kerala (Kerala High Court) Therefore, the writ petition is disposed with the following directions: (I) Rule 56(20A)(iii)(d) of the Kerala State GST Rules is struck down holding that the State has no legislative competence to formulate such Rule. (II) The challenge to the vires of other Rules is negatived. […]

Loan sourcing fees paid is allowable as revenue expenditure

April 12, 2018 7581 Views 0 comment Print

Brief facts are, the assessee a non–banking finance company (NBFC) is engaged in hire, purchase, finance and loan business. For the assessment year under dispute, the assessee filed its return of income on 31-10-2007, declaring loss of Rs. 12,06,02,070.

E-Way Bill Registration separate from Registration on GST Portal

April 12, 2018 3498 Views 0 comment Print

Yes. All the registered persons under GST need to register on: www.ewaybillgst.gov.in using GSTIN. GSTIN is entered, the system sends an OTP to registered mobile number, registered with GST Portal. After authentication, the system generates username and After generation of username and password, you may proceed to make entries to generate e-way bill.

No TDS liability on Fee for transponder service not in the nature of royalty

April 12, 2018 2337 Views 0 comment Print

United Home Entertainment Private Limited Vs DCIT (ITAT Mumbai) Fee for transponder service paid by the assessee to Intelsat was not in the nature of royalty and that the same was not taxable in India, and thus the remittance did not warrant any deduction of tax at source. FULL TEXT OF THE ITAT JUDGMENT The […]

Enable Replacing Authorised Digital Signature of Deceased Director in GSTN Portal: Petition file in HC

April 12, 2018 19404 Views 2 comments Print

M/s SRKM Steel Pvt. Ltd. Vs The State of Assam (Gauhati High Court) A petition has been filedon the ground of technical glitch in the Goods and Services Tax Network (GSTN) wherein the petitioner, M/s SRKM Steel Pvt. Ltd, was unable to replace Authorised Digital Signature of the Deceased Director with the Digital Signature of […]

Review of All Industry Rates (AIR) of Duty Drawback for year 2018

April 12, 2018 2367 Views 0 comment Print

Request for views/suggestions and data for review of All Industry Rates (AIR) of Duty Drawback for the year 2018- It is to inform that the Government proposes to review the All Industry Rates (AIRs) of Duty Drawback for the year 2018 with reference to the incidence of Customs and Central Excise duties on goods manufactured for export.

For invoking section 14A r.w. rule 8D, AO had to mandatorily record his satisfaction

April 12, 2018 1956 Views 1 comment Print

At the outset, the learned Authorised Representative submitted that the issue raised by the revenue in second ground of appeal stands covered by the decision of the co-ordinate Bench in assessee’s own case in ITA No. 615/Mum/2014 (AY-2010-11) order dated 4-11-2015

North East Industrial Development Scheme (NEIDS), 2017

April 12, 2018 14823 Views 0 comment Print

The scheme may be called North East Industrial Development Scheme (NEIDS), 2017. The scheme will cover States of Arunachal Pradesh, Assam, Manipur, Meghalaya, Mizoram, Nagaland, Sikkim and Tripura.

Investments by FPIs in Government and Corporate debt securities

April 12, 2018 777 Views 0 comment Print

It has been decided to revise the CDIL and the limit for investment by FPIs in Government Securities and State Development Loans (SDL), for the Financial Year 2018-19, as follows:

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