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Cigarette Sticks not declared in IGM: CESTAT quashes Penalty as No Opportunity of Cross-Examination given

June 17, 2021 663 Views 0 comment Print

Explore the CESTAT Ahmedabad case of Majhar Muzaffar Hussain Sayed vs. C.C.-Mundra. Delve into the nuances of penalties imposed, cross-examination demands, and the remand for a fresh decision.

High seas purchase: Cenvat/Service Tax credit cannot be denied for some gap left in statute

June 17, 2021 1083 Views 0 comment Print

Mammon Concast Pvt. Limited Vs Commissioner of Central Goods and Service Tax, Customs & Central Excise (CESTAT Delhi) Admittedly the melting scrap purchased by the appellant on high sea sale, is their input for manufacture of M.S. I further find that Rule 9(1) of Cenvat Credit Rules provides that cenvat credit shall be taken by […]

Income from Sale/Purchase of property by Real Estate Agent is Business Income

June 17, 2021 17235 Views 1 comment Print

ITO Vs Suresh Babu Vasireddy (ITAT Hyderabad) The assessee is basically engaged in the business as a real estate agent in Hyderabad deriving commission income. The modus operandi of the business activity is that of identifying properties for sale in Hyderabad and simultaneously identify the interested buyers and sell the properties with a marginal profit. […]

Fake GST invoices case: HC ask petitioner to approach Court of Special Judge for Economic Offences

June 16, 2021 5736 Views 0 comment Print

Vennapusa Venkata Subba Reddy Vs Union of India (Andhra Pradesh High Court) It is allegged that petitioner has issued fake GST invoices with a total turnover of Rs. 397,28,11,944/- without supply of goods to different business firms/companies by passing on a total fraudulent input tax credit of Rs. 61,30,33,274/- in respect of 21 firms, out […]

Smart Enforcement App for Trucks to reduce compliance Logistics costs

June 16, 2021 1260 Views 0 comment Print

Ministry of Commerce & Industry Smart Enforcement App for Trucks to reduce compliance Logistics costs; IT based solution to make enforcement mechanism technology driven; App to have wide ranging economic benefits for the state also Posted On: 16 JUN 2021 6:03PM by PIB Delhi On an average, a truck in India covers 50,000-60,000 km a […]

Tariff Notification No. 53/2021-Customs (N.T.), Dated:16.06.2021

June 16, 2021 1758 Views 0 comment Print

Tariff Notification No. 53/2021-Customs (N.T.), Dated:16.06.2021 in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver

ITAT remanded case back to CIT(A) for denovo adjudication

June 15, 2021 2571 Views 0 comment Print

Yash Raj Films Pvt. Ltd. Vs ACIT (ITAT Mumbai) Since, ex-parte order has been passed by the learned CIT(A), this is a fit case for remanding the appeal before the learned CIT(A) to give more effective opportunity to the assessee and the assessee is also directed to cooperate with the expeditious disposal of the appeal […]

Tariff Notification No. 52/2021-Customs (N.T.), Dated:15.06.2021

June 15, 2021 1074 Views 0 comment Print

Tariff Notification No. 52 /2021-CUSTOMS (N.T.) in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver- Reg MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) New Delhi Notification No. 52/2021-Customs (N.T.) | Dated : 15th June, 2021 S.O. 2338(E).— In exercise of the […]

GST payable on operating mini AC buses for BEST

June 14, 2021 3855 Views 0 comment Print

In re M P Enterprises & Associates Limited (GST AAR Maharashtra) Question 1:- Whether the service of operating mini AC buses by the applicant for Brihan Mumbai Electricity Supply Transport Undertaking (BEST) would be exempt from payment of GST under Tariff Heading 9966 i.e. ‘services by way of giving on hire to a state transport […]

PFRDA (Central Recordkeeping Agency) (Amendment) Regulations, 2021

June 14, 2021 705 Views 0 comment Print

These regulations may be called the Pension Fund Regulatory and Development Authority (Central Recordkeeping Agency) (Amendment) Regulations, 2021.

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