GST paid on the [inward supply] of motor vehicles for supplying rent-a-cab service is not admissible for credit in terms of section [17(5)(a)] of the GST Act.
By crediting enhanced value of land, which belonged to assessee-firm to current account of partners of firm and by treating it as loan from the partners in account of company, there was violation of provisions contained in clauses (a) and (c) of proviso to section 47(xiii). Therefore, the said transaction would amount to transfer of capital asset within the purview of section 45 and thus, the profits or gains obtained by transfer of asset by firm to company would be treated as capital gains.
In re M/s Sarj Educational Centre (GST AAAR West Bangal) Whether service to the students for lodging along with food is a composite supply within the meaning of section 2(30) of the GST Act The West Bengal Authority for Advance Ruling (hereinafter referred to as the WBAAR’) has passed an advance ruling by an order […]
Seeks to impose definitive countervailling duty on ‘New/Unused pneumatic radial tyres with or without tubes and/or flap of rubber (including tubeless tyres), having nominal rim dia code above 16’ used in buses and lorries/trucks” originating in or exported from, People’s Republic of China. [TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION […]
In order to redress investors ‘grievances, action has been initiated against 95 companies in 2016-17, 101 companies in 2017-18 and 75 companies in 2018-19 under various provisions of the Companies Act. This was stated by the Union Minister of Finance & Corporate Affairs, Smt. Nirmala Sitharaman in a written reply to a question in Lok Sabha today.
In the absence of any permission received from Pr. CIT or the CIT, there was no merit in the order of AO in making addition on an issue which was not the basis for selection of case under CASS.
RBI issues licences to carry out banking business to co-operative banks under Section 22 of the Banking Regulation Act, 1949 (as applicable to Co-operative Societies). RBI regulates the banking functions of co-operative banks under the provisions of the Banking Regulation Act, 1949 and the Reserve Bank of India Act, 1934. These banks are also required to comply with instructions/ guidelines etc. issued by RBI from time to time.
In re M/s. Specsmakers Opticians Private limited (GST AAR Tamilnadu) The value in respect of supply of goods i.e. Lenses, Frames, Sun Glasses, Contact Lenses as well as Reading Glasses, Complete spectacles by the applicant to distinct persons being branches outside the state of Tamil Nadu shall be the open market value of such supplies […]
In re MRF Limited (GST AAAR Tamilnadu) The order issued by the original authority for advance ruling is set aside. The appellant can avail Input tax credit of the full GST charged on the undiscounted supply invoice of goods/services by their suppliers. A proportionate reversal of the credit is not required to be done by […]
AAP And Co. Vs Union of India (Gujarat High Court) The writ-application has been filed seeking quashing and setting aside of the press release dated 18th October 2018 to the extent that its para 3 purports to clarify that the last date for availing the input tax credit relating to the invoices issued during the […]
