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ITO jailed for accepting bribe & acquiring disproportionate assets

March 6, 2019 1503 Views 0 comment Print

Special Judge, CBI Cases, Raipur (Chhattisgarh) has sentenced Shri Dilip Kumar Das, then Income Tax Officer, Raipur in a case of possession of disproportionate assets, to undergo three years Rigorous Imprisonment with fine of Rs. 5,00,000/-.

Provision for interest liability accrued but not provided in books is deductible

March 4, 2019 5709 Views 0 comment Print

Provision for interest liability which was accrued but not provided for in books of account would be deductible under section 36(1)(iii) of Income Tax Act, 1961.

How to file Online Udyog Aadhaar Form

March 3, 2019 2493 Views 1 comment Print

Guidelines for Filling the Online Udyog Aadhaar Form Note: A. EM-I has been abolished. Need not file through Udyog Aadhaar.   B. Udyog Aadhaar (UA) is for running units. No need to apply for upcoming units.  C. New Feature Added for Search Facility of NIC Code to Avoid 3 Step Selection of NIC Activities.  D. OTP […]

Advance Ruling cannot be given on place of supply of services

March 2, 2019 3240 Views 0 comment Print

In re Sri. Thomas Joseph Nellissery  (GST AAR Kerala) a) Whether the applicant, engaged in providing management consultancy services, is falling within the definition of the term Intermediary as per Sec.2(13) of The Integrated Goods and Services Tax Act, 2017? The services provided by the applicant falls under SAC code 998311 “Management Consultancy Services”. The […]

7 key decisions taken in SEBI Board Meeting dated March 01, 2019

March 1, 2019 1017 Views 0 comment Print

The Board considered and approved the following Amendments to SEBI (Infrastructure Investment Trusts) Regulations, 2014 and the SEBI (Real Estate Investment Trusts) Regulations, 2014:

No profiteering if base price of product remain same after GST rate reduction

March 1, 2019 2328 Views 0 comment Print

Kerala State Screening Committee on Anti-profiteering Vs M/s Velbon Vitrified Tiles Pvt. Ltd (NAA) As seen from the invoices given above at para 4 it is clear that the base price of the product per box was Rs. 232.50 prior to 15.11.2017 and had remained the same even after GST rate reduction w.e.f. 15.11.2017. Therefore, […]

CEA says deterrence through IBC catalysed recovery of around Rs 3 lakh crore

March 1, 2019 357 Views 0 comment Print

Press Information Bureau  Government of India Ministry of Corporate Affairs Date: 01-March-2019 Innovation can lead India to forefront of competition: CEA Subramanian  CEA says deterrence through IBC catalysed recovery of around Rs 3 lakh crore Chief Economic Adviser K.V. Subramanian said that if this century has to belong to India then innovation has to be […]

Licensing services for right to use minerals falls under HSN 997337

March 1, 2019 2553 Views 0 comment Print

In re Quality Earth Minerals Pvt. Ltd (GST AAR Haryana) Q1. What is the classification of service provided in accordance with Notification No. 11/2017-CT (Rate), dated 28.06.2017  read with annexure attached to it, by the State of Haryana to M/s Quality Earth Minerals Pvt. Ltd., for which royalty is being paid? Whether said service can […]

GST on Royalty for Licensing services for right to use minerals including its exploration & evaluation

March 1, 2019 612 Views 0 comment Print

In re Sainik Mining and Allied Services Ltd. (GST AAR Haryana) Q1. What is the classification of service provided in accordance with Notification No. 11/2017-CT (Rate) dated 28.06.2017 read with annexure attached to it, by the State of Haryana to M/s Sainik Mining And Allied Services Ltd., for which royalty is being paid? Whether said […]

GST on purchase of demo vehicles cannot be availed as ITC

March 1, 2019 1512 Views 0 comment Print

In re Platinum Moto Corp. LLP (GST AAR Haryana) Q1. Whether Input Tax Credit (ITC) can be availed on such capital goods (demo cars) and set off against output tax payable under GST. The Goods and Services Tax paid on the purchase of demo vehicles cannot be availed as Input Tax Credit and set off […]

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