Even if the purchases made from the parties in question are to be treated as bogus, it does not necessarily mean that entire amount should be disallowed and that no benefit should be given to the Respondent-Assessee.
Abbott Healthcare Private Limited Vs Commissioner of State Tax Kerala (Kerala High Court) Authority for Advance Rulings does not have jurisdiction to go beyond issues referred It is the case of the petitioner that as per the business model operated by it in the State of Kerala, it places its diagnostic instruments at the premises […]
For the Annual System Audit, the following broad areas shall be considered in order to ensure that the audit is comprehensive and effective: a. The Audit shall be conducted according to the Norms, Terms of Reference (TOR) and Guidelines issued by SEBI.
When the CBDT circular refers to the amount sought to be evaded, it must be seen and understood in light of the provisions contained in section 276C(1) and in turn must be seen as amount sought to be evaded. 100% of tax sought to be evaded would be the basic compounding fees.
This paper will analyse various types of loan agreements entered that are now being entered into, and the tax liability of these loans. It will focus specifically on interest subvention and how it should be categorised for tax purposes, with more focus on the automobile industry, given the recent judgements and jurisprudence.
NKC Projects (P) Ltd. Vs DCIT (ITAT Delhi) It could be seen from the assessment order that while dealing with the issue of allowability of the bank guarantee commission, learned Assessing Officer held that on identical facts in assessee’s own case for the assessment year 2011-12 an addition under section 40(a)(ia) of the Act was […]
In re HACH DHR India Pvt. Ltd. (GST AAR Karnataka) Whether the applicants are correct in contending that the ‘Reagents’ used by the applicant for laboratory testing of water samples should be classified under Sl. No.80 of the IGST schedule-II at 12% under IGST Notification No.1/2017-Integrated Tax (Rate) dated 28.06.2017? But the Applicant requested to […]
Appointment of Common Adjudicating Authority for the purpose of adjudication of SVB SCNs issued to M/s Cisco Commerce India Private Limited, Bangalore – Notification No. 02/2020-Customs (N.T.) Dated 06th January 2020.
General Questions on e-invoice system Q. 1 Will there be a time limit for e-invoice uploading for registration? Ans: a. Yes, that will be notified by the Government. Without registration of e-invoice the same will not be valid. Required changes will be made in the law. b. Once uploaded to the invoice registration portal (IRP), […]
Notification No. 2/2020-Customs (N.T./CAA/DRI)- Appointment of common adjudicating authority by Director General, Revenue Intelligence. Ministry Of Finance (Department of Revenue) (Central Board of Indirect Taxes and Customs) (Directorate Of Revenue Intelligence) Notification No. 2/2020-Customs (N.T./CAA/DRI) New Delhi, the 6th January, 2020 S.O. 122(E).—In pursuance of notification No. 60/2015-Customs (N.T.), published vide number G.S.R. 453(E), dated […]
