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NAA found builder Guilty of profiteering for not passing ITC benefit

February 27, 2019 1854 Views 1 comment Print

Shri Ashok Khatri Vs M/s S3 Infra Reality Pvt Ltd (NAA) From the documents placed on record and the DGAP’s report it is evident that the Respondent has sold 780 units out of 816 residential units, out of which for 29 units there was no consideration paid after introduction of GST, hence the profiteered amount […]

Unconscionability As A Ground To Avoid Agreement

February 27, 2019 15762 Views 0 comment Print

There are various grounds for avoiding an Agreement like Ambiguity, conflicting terms, vague timeline etc. Unconscionability is one such ground on which an agreement can be avoided. Unconscionable contracts are those contracts which are heavily inclined towards one party and impose unfair, harsh conditions on the other party.

CBDT Revises Corporate Tax collection Targets for FY 2018-19

February 27, 2019 1110 Views 0 comment Print

Revision of the target for collection of Corporation Tax from Rs.6,21,000 Crore to Rs. 6,71,000 Crore under Revised Estimates (RE), the region-wise revised targets for Corporation Tax fixed on the basis of current trends of growth and revenue potential of the regions, are as under: –

Sea Cargo Manifest and Transhipment (Amendment) Regulations, 2019

February 27, 2019 4395 Views 0 comment Print

These regulations may be called the Sea Cargo Manifest and Transhipment (Amendment) Regulations, 2019. They shall come into force on the date of their publication in the Official Gazette.

Advance Ruling and Appeal Mechanism in GST Law for Maharashtra

February 27, 2019 3585 Views 0 comment Print

Ref:- The Central Goods and Services Tax Act, 2017 The Integrated Goods and Services Tax, 2017 The Goods and Services Tax (Compensation to States) Act, 2017 The Maharashtra Goods and Services Tax Act, 2017 Introduction to Advance Ruling and Appeal Mechanism in GST Law for Maharashtra: An Advance Ruling helps the applicant in planning his […]

Service of Notice of court through Listing Centre only of Schemes of Companies Compromise, Arrangement, Amalgamation

February 26, 2019 930 Views 0 comment Print

Henceforth, any service of notice under Section 230 (5) or Section 66 of the Companies Act 2013 seeking Exchange’s representations or objections if any, would be accepted and processed through the Listing Centre only and no physical filings would be accepted.

Classification & GST on service of a Line Producer located in Brazil

February 26, 2019 4338 Views 0 comment Print

In re Udayan Cinema Pvt Ltd (AAR West Bangal) The Line Producer to be engaged for the shooting of a feature film in Brazil is supplying motion picture production service, classifiable under SAC 999612. The Applicant is liable to pay IGST on the payments made to the above Line Producer in terms of Sl No. […]

Notification No. 14/2019-Customs (N.T.) Dated: 26.02.2019

February 26, 2019 1485 Views 0 comment Print

Notification No. 14/2019-Customs (N.T.) CBIC hereby makes the following further amendments in the notification of the Government of India, Ministry of Finance (Department of Revenue) No. 82/2017-Customs (N.T.), dated the 24th August, 2017, published vide number G.S.R. 1064(E), dated the 24th August, 2017, namely:—

Consideration of mega power policy benefits in proportion to long term PPA tied up in case of provisional mega power projects – regarding

February 26, 2019 3696 Views 0 comment Print

Circular No. 1064/03/2018-CX F.No. 354/94/2011 –TRU (Pt) Government of India Ministry of Finance Department of Revenue Tax Research Unit North Block, New Delhi Dated the 26th of February, 2018 To The Principal Chief Commissioner/Chief Commissioner/ Principal Commissioner/ Commissioner of Central Excise and Central Tax (All) / Director General of Systems Madam / Sir, Subject: Consideration of […]

Certification of amounts eligible as Interest free Loan under KGST Act as Industrial Incentives

February 26, 2019 3735 Views 0 comment Print

Certification of amounts eligible as Interest free Loan under the Karnataka Goods and Services Tax Act 2017 as incentives to the Industrial Units under Industrial Policies.

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