Olam Agro India Ltd. Vs C.C.E (CESTAT Delhi) A corporate guarantee is used when a corporation agrees to be held responsible for completing the duties and obligations of debtor to a lender, in case the debtor fails to comply with the terms of the debtor- lender contract. Whereas a bank guarantee is a promise from […]
Kalyan Constructions Vs ITO (ITAT Hyderabad) Provisions of Section 40A(3) mention that where an assessee incurs any expenditure in respect of which payments were made to a person otherwise than by way of crossed cheque or account payee cheque, no deduction shall be allowed in respect of such expenditure. It is humbly submitted that when the […]
Tariff Notification No. 66/2018-CUSTOMS (N.T.) in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Sliver
CBEC issued series of notification on 26th July 2018 to give effect to the recommendation of GST Council. Below mentioned is the summary of important notifications issued by CBEC on 26th July 2018
CBDT notifies NSE IFSC Limited, Gandhinagar, Gujarat under clause (ii) of Explanation 1 of clause (d) of proviso to sub-section (5) of Section 43 of the Income-tax Act, 1961 (43 of 1961) read with sub-rule (4) of Rule 6DDB of the Income-tax Rules, 1962 vide Notification No. 36/2018 Dated 31st of July, 2018.
Today CBIC released Draft Format of Monthly and Quarterly Simplified GST returns. This brief note lists the salient features of the new GST return format and business process for the information of trade and industry and other stakeholders.
Reg. safeguard duty on Solar cells whether or not assembled in modules or panels falling under heading 8541 or tariff item 8541 40 11 of the First Schedule to the Customs Tariff Act for a period of two year. Seeks to impose safeguard duty on imports of ‘Solar Cells, whether or not assembled in modules or […]
In re Kandla Port Trust (GST AAR Gujarat) Determination of the liability to pay tax on any goods or services or both; -Applicability of TDS provision under section 51 of CGST Act. As the issue ‘whether the applicant is liable to deduct TDS under Section 51 of the CGST Act, 2017 and the GGST Act, […]
In re Kandla Port Trust (GST AAR Gujarat) The applicant has raised the question for advance ruling ‘whether IGST is applicable to port related services provided to out of the state registered dealer or CGST and SGST would apply ? Place of supply of services of the applicant is required to be determined in order […]
Directorate has notified the form ANF 3B, vide Public Notice 15/ 2015-20 dated 28.06.2018. All the RAs and the members of trade are being informed that the E corn module for applying for SEIS based on the new ANF 3B would be available from 01.09.2018
