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Penalty Order not get vitiated for mere acceptance of appeal by HC in Quantum Proceedings

April 11, 2018 1200 Views 0 comment Print

It cannot be a universal rule that once an appeal from the order of the Tribunal has been admitted in the quantum proceedings by High Court, then, ipso facto the issue is a debatable issue warranting deletion of penalty by the Tribunal.

Reopening after 4 years with approval of DIT instead of JCIT is invalid

April 11, 2018 1962 Views 0 comment Print

Reopening of assessment of A.Y. 2005-06 after expiry of four years without obtaining approval of an officer of the rank of Joint Commissioner was bad in law and even if such approval had been granted, by the officer superior i.e., the DIT, it would not cure the defect.

Review of Framework for Stocks in Derivatives Segment

April 11, 2018 1962 Views 0 comment Print

Derivatives on stocks (new/existing) which meet the enhanced eligibility criteria (given at para 4 above) shall be cash settled until further notification, however such stocks, if they fail to satisfy any of the enhanced eligibility criteria for a continuous period of three months, shall move from cash settlement to physical settlement.

No GST on Packed Meat not qualifying as product put up in ‘Unit Container’

April 11, 2018 7281 Views 0 comment Print

Meat of Sheep or goat or poultry, frozen and packed in LDPE/HDPE bags having varied weight and quantity printed/labelled on such pickings, whether could be held to be packed in unit containers?

AAR cannot decide on Questions of Zero rated supply / GST Refund

April 11, 2018 2091 Views 0 comment Print

In re Esprit India Private Limited (GST AAR Haryana) i. Taxability of services provided by Esprit India to its associate concern in Hong Kong EDCFE under GST regime. The services provided by Esprit India to its associate concern in Hong Kong EDCFE are taxable supplies, as discussed in para 6 above ii. Whether the services […]

Forfeited Issuance fee of Reward points is fee for supply of Services: AAR

April 11, 2018 3843 Views 0 comment Print

In case the customer does not or is not able to redeem the rewards points, within their validity period of 36 months from the date of issue, the reward points are forfeited by the applicant. Whether this amount of issuance fee retained/forfeited by LSRPL, would amount to consideration for actionable claims and subject to GST.

Rajasthan HC explains Rule 18 (Input Tax Credit) of Rajasthan VAT

April 11, 2018 14703 Views 0 comment Print

R.S. Infra-Transmission Ltd Vs State of Rajasthan (Rajasthan High Court) The contention of Mr. R.B. Mathur is that Rule 18 will take care of the situation. However, while considering the matter, we have to look into the matter whether the benefit envisaged under the Rajasthan VAT Act especially under sub-Section (1) shall be allowed only […]

19 Goods requiring e-way bill for Intra-State Movement in Gujarat wef 15.04.2018

April 11, 2018 34755 Views 1 comment Print

Commissioner of State Tax, Gujarat State hereby notifies that no E-Way Bill is required to be generated for intra-city movement as well as intra-state movement of all goods within whole of the territory of the State except for intrastate movement within whole of the territory of the State of following 19 goods of consignment value exceeding fifty thousand rupees:

Anti dumping duty on import of fishnet or fishing nets

April 10, 2018 2019 Views 0 comment Print

Seeks to impose definitive anti dumping duty on imports fishnet or fishing nets originating from China or Bangladesh vide Notification No. 20/2018-Customs (ADD)

Purchase cannot become non-genuine for mere payment after 9 months

April 10, 2018 2157 Views 0 comment Print

For the only reason that the payment of purchase has been made after a lapse of 9 months cannot render the purchase as non genuine unless and otherwise any material is brought on record which could negate this

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