ST exemption vide Sr. No. 3 of Notification No. 12/2017 – Central Tax (Rate) dated 28th June 2017, is applicable on Comprehensive architectural services that includes architectural design, structural design, MEP design , HVAC services design, preparation of drawings etc for repairs/ restoration, reconstruction for development of recreation ground cum textile museum at United India Mills 2 & 3 at Kala chowky provided by the Applicant to Municipal Corporation of Greater Mumbai (‘MCGM’).
The said firm had availed fraudulent input tax credit of taxable value of approx. Rs. 40 Cr. involving a tax amount of approx. Rs. 7 Crore. The taxpayer was presented before the District Court, Faridabad and the Hon’ble Court has remanded the accused to judicial custody for 14 days. Further, investigation is in progress.
National Asset Reconstruction Company Ltd and India Debt Resolution Company Ltd have been set-up as per the last budget announcement of Finance Minister. All approvals have been received and both are ready to commence their business Press Release from Chairman, SBI National Asset Reconstruction Company Ltd (NARCL) India Debt Resolution Company Ltd (IDRCL) All requisite […]
The gross GST revenue collected in the month of January 2022 till 3PM on 31.01.2022 is Rs 1,38,394 crore of which CGST is Rs 24,674 crore, SGST is Rs 32,016 crore, IGST is Rs 72,030 crore (including Rs 35,181 crore collected on import of goods) and cess is Rs 9,674 crore (including Rs 517 crore collected on import of goods).
Seeks to further amend Customs (Import of Goods at Concessional Rate of Duty) Rules, 2017 so as to simplify and automate the procedures vide Notification No. 07/2022-Customs (N.T.) dated 1st February, 2022 to give effect to Changes prescribed vide Union Budget 2022-23 i.e. Finance Bill 2022. GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE […]
Seeks to rescind the anti-dumping duty imposed on imports of Flat rolled product of steel, plated or coated with alloy of Aluminum or Zinc originating in or exported from China PR, Vietnam and Korea RP vide Notification No. 16/2020-Cus (ADD) dated 23.06.2020 vide Notification No. 07/2022-Customs (ADD) Dated 1st February, 2022 to give effect to […]
Royal Shelter Vs Commissioner of GST & Central Excise (CESTAT Chennai) The department was of the view that the appellants are liable to pay service tax on the taxable services of construction of residential complex rendered by them. Show Cause Notice demanding service tax for the period January 2009 to January 2010 was issued to […]
Seeks to amend various notifications giving exemption to electronic items and medical devices vide Notification No. 15/2022-Customs Dated 1st February, 2022 to give effect to Changes prescribed vide Union Budget 2022-23 i.e. Finance Bill 2022. GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) Notification No. 15/2022-Customs New Delhi, the 1st February, 2022 G.S.R.89(E). – […]
Seeks to implement a graded BCD structure for hearable devices and its parts, sub-parts and sub assembly vide Notification No. 12/2022-Customs Dated 1st February, 2022 to give effect to Changes prescribed vide Union Budget 2022-23 i.e. Finance Bill 2022. GOVERNMENT OF INDIA MINISTRY OF FINANCE (Department of Revenue) Notification No. 12/2022-Customs New Delhi, the 1st […]
Gujarat Nippon Enterprises Pvt. Ltd. Vs ITO (ITAT Ahmedabad) The question that requires to be adjudicated whether the investment was made by the assessee to have controlling interest in the companies. Regarding loans granted by the assessee, the assessee company has given advances to five tooth brush companies as a business strategy to have controlling […]
