In the case of paper based gift vouchers classifiable under CTH 4911 the applicable rate is 6% CGST as per Sl.No. 132 of Schedule II of the Notification No. 1/2017-C.T.(Rate) dated 28.06.2017 and 6% SGST as per Sl.No. 132 of Schedule II of Notification Ms. No. II(2)/CTR/532(d-4)/2017 vide G.O. (Ms) No. 62 dated 29.06.2017 as amended.
Samsir Uddin Vs State of Assam (Gauhati High Court) In the instant case, the documents made available on record so far as it relates to violation of the provisions of the AGST Act are not being relied upon by the respondents to indicate any such violation of the provisions of the AGST Act. What is […]
DCIT (International Taxation) Vs Qliktech International AB (ITAT Delhi) Right to use granted through licensing of a software does not fall within the meaning of “Royalty” as provided for in the domestic law or the DTAA. Any consideration for the same is not taxable as Royally under section 9(1)(vi) or the relevant DTAA. Thus what […]
For the lot/ lots cleared at the center/s which are duly notified under Customs Act, 1962 / specified by the Central Board of Indirect Taxes & Customs, Department of Revenue, Ministry of Finance, Government of India for the above purpose, Bill of Entry shall be filed by the buyer. AD bank may permit such import payments after being satisfied with the bona-fides of the transaction. Further, AD bank shall also maintain a record of such transactions.
It it is revealed that the Respondent is executing his Synera project under the Affordable Housing Scheme approved by the Government of Haryana under the Prime Minister Awas Yojana and is constructing both the residential and commercial accommodation.
Where assessee claimed that there was wrong credit entry by payer-client in Form 26AS, AO was required to examine its genuineness before making any addition on account of mismatch between receipts reflected in Form 26AS and in profit and loss account. Thus, matter was remanded for re-adjudication.
We find that in this case the assessment was framed by the AO after making ex-parte addition of Rs.16,54,146/-towards 100% of the bogus purchases which the co-ordinate bench of the Tribunal in quantum proceedings reduced to 12.5% of such purchases. In our opinion, this is a clear cut case where the income has been estimated by applying a percentage of 12.5% and therefore the penalty under section 271(1)(c) can not be imposed. We are, therefore, setting aside the order of Ld. CIT(A) and direct the AO to delete the penalty.
The necessary changes related to SIMS have been operationalized in ICES. Bills of Entry for import of goods falling under the above said notification of DGFT shall mandatorily be filed in accordance with ICES Advisory 25/2019 issued by Directorate of Systems from 11.19. The above changes have been separately communicated to the various Customs Brokers Associations and RES software providers by Directorate of Systems. However, the same may further be given publicity by way of Trade notices.
In re Bandai Namco India Private Limited (GST AAAR Maharashtra) The Appellate Authority for Advance Ruling, hereby, uphold the ruling pronounced by the Advance Ruling Authority, wherein it was held that the gaming zone operated by the Appellant in the mall premises would attract GST at the rate of 28% (CGST @ 14% + SGST@ […]
ACIT (Exemption) Vs Bhansali Trust (ITAT Mumbai) A mere non-intimation of the amendments in the Trust Deed to the Department cannot ipso-facto lead to cancellation of registration because the statutory requirement of cancellation of registration contained in section 12AA(3) of the Act prescribe that the cancellation of registration cannot be effectuated unless a case is […]
