In re M/s Aravali Poly art Pvt. Ltd. (GST AAR Rajasthan) a. What is the classification of service provided in accordance with Notification No. 11/2017-CT (Rate) dated 28.06.2017 read with annexure attached to it, by the State of Rajasthan to M/s Aravali Polyart Private Limited for which royalty is being paid? Whether said service can […]
Securities and Exchange Board of India CIRCULAR SEBI/HO/MRD/DOP2DSA2/CIR/P/2019/31 February 15, 2019 To All Stock Exchanges, Clearing Corporations and Depositories. Sir/ Madam, Subject: Advisory Committee at Market Infrastructure Institutions (MIIs) 1. SEBI, vide circular no. SEBI/HO/MRD/DOP2DSA2/CIR/P/2019/13 dated January 10, 2019, inter alia provided functions, composition and quorum of the seven statutory committees at Market Infrastructure Institutions […]
SEVEN YEARS RIGOROUS IMPRISONMENT WITH FINE OF RS.3.5 CRORE TO THEN ADDITIONAL COMMISSIONER OF INCOME TAX IN DISPROPORTIONATE ASSETS CASE; THREE OTHER ACCUSED ALSO SENTENCED The Special Judge, CBI Cases, Dehradun (Uttarakhand) has sentenced Shri Swetabh Suman(an IRS Officer of 1988 Batch), the then Additional Commissioner of Income Tax, Jamshedpur to undergo seven years Rigorous […]
PCIT Vs Vembu Vaidyanathan (Bombay High Court) The controversy between the assessee and the revenue revolves around the question as to when the assessee can be stated to have acquired the capital asset. The assessee argued that the residential unit in question was acquired on the date on which the allotment letter was issued by the […]
In order to improve ease of doing business and improving online transactions, it has been decided to discontinue issue of physical copy of Advance/EPCG Authorisations issued on or after 01.03.2019 by Regional Authorities, in respect of EDI ports
In re KSR & Company (GST AAR Andhra Pradesh) The Applicant is eligible for Input Tax Credit (ITC) in respect of the GST paid on goods and services used as inputs in execution of “Works Contracts’. Input Tax Credit restriction under section 17(5)(c) and 17(5)(d) will not apply to the applicant as his output is […]
In re Metro Aluminium (GST AAR Andhra Pradesh) Irrespective of the end use of the ladders whether for domestic purpose or for Commercial use, Aluminium ladders come under HSN code 7616, ‘Other articles of Aluminium’ and accordingly attract Tax rate of 18% (9% CGST+9% SGST). FULL TEXT OF ORDER OF AUTHORITY OF ADVANCE RULING, ANDHRA […]
In re Space age syntex Pvt. Ltd. (GST AAAR Maharashtra) The Appellate Authority for Advance Ruling set aside the ruling given by the Advance Ruling Authority by observing that No GST is applicable on the sale or purchase of DFIA, as provided in Sr. 122A of the Notification 02/2017-C.T. (Rate) dated 28.06.2017 as amended by […]
ICAI ARF assigned the task of reopening of the books and recasting of the financial statements of IL&FS, IFIN and ITNL from Financial Year 2012-13 to Financial Year 2017-18
E-Capsule Compiler for Quick Revision The Board of Studies has recently launched e-Capsules on ICAI Cloud Campus which are a compilation of subject-wise capsules published in “The Chartered Accountant Student” – a monthly journal released by the Board of Studies. The capsules have been started in the Students’ Journal from April, 2017 and are continuing […]
