Agarwal Global Steels Pvt. Ltd. Vs DCIT (ITAT Hyderabad) We observe that even if we consider the selling price @ 30,675.56 by M/s Gautham Rolling Mills Pvt. Ltd. and the same was purchased from the assessee @ 25,000/- per MT with tax, the difference would be Rs. 4,500/- per MT. We gave opportunity to both […]
The word held used in section 2(14) implies right over a capital asset. In the instant case, right over the property was held by assessee for the period of 36 months, by paying first installment and builder issued a provisional letter of allotment and from that period, assessee had been enjoying legal right over the said property.
In re Jotun India Private Limited (GST AAR Maharashtra) Q1. Whether the supply of goods which are moved from a place located outside taxable territory and are delivered at a place outside taxable territory, would be liable to tax in India under section 7(5)(a) of IGST Act? Answer :- Answered in the negative. FULL TEXT […]
Shri Krsna Urja Project Pvt Ltd. Vs CCE (CESTAT Delhi) CESTAT Delhi held that there was no legal basis for adopting cost inflation index of Income Tax dept for determination of assessable value under Section 4 of CE Act read with the CE Valuation Rules, 2000, for valuation of captively consumed goods. The Tribunal also […]
Whether an amount charged as interest on transaction based short term loan given by the Del Credere Agent (DCA) to buyers of material is exempt from tax in terms of the Notification No. 12/2017-Central Tax (Rate) dated 28.06.2017 (Serial Number 27) ?
In re M/s. Shreenath Polyplast Pvt. Ltd. (GST AAAR Gujarat) The Del Credere Agent (DCA) makes payment to the principal in respect of goods supplied to the customer through him (DCA) in case of failure of making payment by the customer. Once the DCA makes the payment of goods to the principal on behalf of […]
Pothys Vs. Principal Chief Commissioner (Madras High Court) i. The respective Commissioner of GST and Central excise are directed to appoint Nodal Officer/Officers for the State of Tamil Nadu, if not already appointed, within a period of 2 weeks from the date of receipt of a copy of this order and ii. The petitioners/assessees are […]
Denial of assessee’s claim under section 10(38) on the basis of suspicion without any cogent material to show that the assessee had brought back its own unaccounted income in the shape of long-term capital gain was not justified.
A.F. Babu Vs Goods and Service Tax Council & Ors. (Kerala High Court) Kerala HC held that petitioner may apply to the Nodal Officer. The petitioner applying, the Nodal Officer will look into the issue and facilitate the petitioner’s uploading FORM GST TRAN-1, without reference to the time-frame. Ordered so. It was further held that […]
In re Compo Advice India Private Limited (GST AAR Maharashtra) Whether under which HSN Code our Product Disc Brake Pads to be classified under 6813 or under 8708 as there are different rate charged in both code? The Product i.e. Disc Brake Pads falls under chapter heading 8708 and would be liable to tax @ […]
