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Interest on delayed Service Tax refund payable on expiry of 3 months from application

August 24, 2021 3906 Views 0 comment Print

Astrazeneca India Pvt. Ltd. Vs Commissioner Of Central Tax (CESTAT Bangalore) Since the issue of interest on delayed refund has been settled by the apex court in the case of Ranbaxy Laboratories Ltd. (supra) wherein Hon’ble Supreme Court has held that interest on delayed refund under Section 11BB is payable on expiry of three months […]

Hand Mixers are different from Handheld Blender & not liable for BIS compliance

August 24, 2021 3411 Views 0 comment Print

I am of the opinion that the Handheld Mixer are not liable to have a BIS compliance as mentioned in BIS Kitchen Appliances (Quality Control) Order, 2018. I am of the opinion that the Handheld Mixer are not liable to have a BIS compliance as mentioned in BIS Kitchen Appliances (Quality Control) Order, 2018

No penalty for preferring a claim which is unacceptable to Revenue

August 23, 2021 2277 Views 0 comment Print

HCL Technologies Ltd. Vs DCIT (ITAT Delhi) Levy of penalty in this case is unsustainable because mere preferring a claim which is unacceptable to the Revenue does not ipso facto lead to levy of penalty. Here in this case, Form No. 56F duly signed by the Chartered Accountant justifies the plea of bona fide belief […]

Cabinet approves continuation of Centrally Sponsored Scheme for Fast Track Special Courts for further 2 years

August 23, 2021 441 Views 0 comment Print

Continuation of 1023 Fast Track Special Court (FTSCs) including 389 exclusive POCSO Courts Outlay of Rs. 1572.86 crore, Rs.971.70 crore as Central Share and Rs.601.16 crore as State share Central Share is to be funded from Nirbhaya Fund Fast Track Special Courts are dedicated courts for swift justice for victims of sexual offences and strengthen […]

No addition for income offered in subsequent year if tax effect remains same

August 23, 2021 3675 Views 0 comment Print

PCIT Vs Adani Infrastructure and Developers Pvt. Ltd. (Gujarat High Court) Revenue contended that provisional fees was not being treated as income during the year by ignoring the Section 199 of the Act read with Rule 37BA of the Rules. Admittedly there is no provision under the Act to tax the same income twice as […]

CCI imposes penalty on ‘Maruti’ for controlling discounts by dealers

August 23, 2021 2721 Views 0 comment Print

Re Maruti Suzuki India Limited (Competition Commission Of India) The Competition Commission of India (CCI)  imposed a ₹200 crore penalty on Maruti Suzuki India Ltd (MSIL), for allegedly stifling competition with its policy of controlling the discounts dealers could offer consumers. Commission concludes that MSIL not only entered into an agreement with its dealers across […]

GST on services by World Economic Forum to its Liaison office in India

August 20, 2021 2601 Views 0 comment Print

In re World Economic Forum, India Liaison Office (AAR Maharashtra) Question 1. Whether the activities carried by the Applicant’s Head office located outside India and rendered to the Applicant will amount to supply as envisaged under Section 7 of the Central Goods and Services Act, 2017 considering that the Applicant is not engaged in any […]

Request for extension of Amnesty Scheme for non-filers of GST returns

August 19, 2021 23862 Views 9 comments Print

Government of India / CT and GST authorities of the Government of Odisha to do the needful at an early date to save the non-filers / Taxpayers, those who would not be able to take the advantage of the Amnesty Scheme as approved by the GST Council and the Government Notification dated-01/06/2021 due to the procedural constraints and this is going to affect the employment and economy of the country at large.

Anti-dumping investigation concerning imports of “Polyester Yarn

August 19, 2021 2532 Views 0 comment Print

Case No. OI – 09/2020 Anti-dumping investigation concerning imports of Polyester Yarn (Polyester Spun Yarn) originating in or exported from China PR, Indonesia, Nepal and Vietnam.

Pilot Launch of International Bullion Exchange – Gateway for Bullion Imports

August 18, 2021 861 Views 0 comment Print

Shri Injeti Srinivas, Chairperson, International Financial Services Centres Authority (IFSCA), launched the pilot run/soft launch here today. The International Bullion Exchange is scheduled to go live on October 1, 2021 the Foundation Day of IFSCA.

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