On 16.01.2018, the partnership firm of Nirav Modi group approached our branch at Brady House, Mumbai and presented a set of import documents with a request to allow buyers’ credit for making payment to the overseas suppliers.
The applicant poses for us to decide if the Engineering, Procurement and Construction (EPC) Contract falls within the definition of composite supply as found in the GST Act. Since we have elaborately discussed and observed above that the impugned transaction is a works contract u/ s 2(119) the GST Act, we need not even enter into the discussion as to whether the impugned transaction is a composite supply
Attention is invited to sixty three orders of different High Courts summarized in this Circular which have been accepted by the Department. In fourteen of these orders, Hon’ble High Courts have decided various questions of law. In the rest forty nine cases the Hon’ble High Courts have delivered judgments on the basis of some settled case law or have decided points of facts or have dismissed the appeal on monetary grounds.
Being a registered taxpayer. you are required to furnish return for the supplies made or received and to discharge resultant tax liability for the aforesaid tax period by due date. It has been noticed that you ha‘e no: tiled the said return till date.
CBEC has already put in place a mechanism to prevent delay in filing of SLPs and Appeals in the Hon’ble Supreme Court and a letter dated 1st June 2017 to this effect has already been circulated indicating revised time-frames. This is also available in the CBEC website. May I request you all to strictly adhere to the time frame indicated in the letter so as to avoid any delay in filing the of SLPs and Appeals. I have also issued a letter reiterating the above facts for strict compliance.
Seaports located at Dhamra Port and Dighi Port are included in paragraph 4.37(a) of Handbook of Procedures (2015-20) for availing export promotion benefits under Chapter 4 of Foreign Trade.
Directives are issued to all Regional Authorities for processing the application for MEIS claim with the objective of improving ease of doing business, simplifying the procedures, increasing transparency and to cutting down delays.
Assessee has invested more than the sale proceeds of the industrial gala for purchase of two flats. Respectfully following the decision of Karnataka High Court,we do not find any merit for decline of assessee’s claim of deduction u/s.54 for investment in two flats out of sale proceeds of long term capital gains within the stipulated period provided in the Act.
It is well settled that where two non jurisdictional High Court’s decisions are opposed to each other, the one in favor of the assessee is required to be followed by the Tribunal.
The Delhi High Court has upheld the constitutional validity of the second proviso to Section 5 (1) of the Prevention of Money-laundering Act, 2002 (PMLA).
