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Transfer/postings of officers in the grade of CIT/DIT

October 8, 2021 12696 Views 0 comment Print

Office Order No. 270 of 2021 Following transfer/postings of the officers in the grade of Commissioners of Income Tax/Directors of Income Tax, are hereby ordered with immediate effect and until further orders:

Concessional GST rate applicable on dwelling units falling under PMAY scheme

October 8, 2021 4215 Views 1 comment Print

In re Honer Developer Private Limited (GST AAR Talangana) Brief facts of the case: The applicant is in the business of construction and selling of residential flats. Their current project contains (760) flats of various dimensions and they intend to sell them in the market. They have informed that some of the customers are claiming […]

GST Council Newsletter September 2021

October 7, 2021 2337 Views 0 comment Print

Highlights of 45 GST Council Meeting Recommendations of 45 GST Council Meeting Several people centric decisions taken by GST Council The 45th meeting of the GST Council was held on 17.09.2021 at Lucknow under the chairmanship of the Union Finance & Corporate Affairs Minister Smt. Nirmala Sitharaman. The GST Council has inter-alia made the following […]

An agreement shall reflect a true commercial substance of transaction

October 7, 2021 939 Views 0 comment Print

Parexel International Clinical Research Private Limited Vs DCIT (ITAT Bangalore) In this case, the assessee coordinated between the individual investigator and Paraxel International GmbH Germany. The contention of the assessee is that assessee has not undertaken any risk and all risk was taken over by Paraxel International GmbH Germany and relied on the Addendum dated […]

Working on a ‘need basis’ cannot be considered as regular employment for IP Registration

October 7, 2021 501 Views 0 comment Print

Experience letter issued by Parag Milk Foods Ltd. where the applicant is certified to be working on a ‘need basis’ and thus not engaged in a regular and continuous employments. His terms of engagement were non-exclusive, and he was allowed to take other assignment.

Preparation of Gutka at Pan Shop for sale not eligible for Composition Scheme

October 6, 2021 9498 Views 0 comment Print

In re Gulab Singh Chauhan (GST AAR Madhya Pradesh) Applicant proposed to open a new business venture of PAN SHOP. The Business model of PAN SHOP would be selling Pan Masala, Tobacco Products, aerated Drinks etc. There will not be any kind of manufacturing of these products. It merely act as a trader. Whether the […]

GST on supply of medicines, consumables etc to patients admitted in hospitals

October 6, 2021 11319 Views 0 comment Print

In re Dadaji Hospitals Private Limited (GST AAR Madhya Pradesh) Whether the medicines, consumables, Surgical, etc. used in the course of providing health care services to the patient admitted in the hospital for treatment, surgery or diagnosis would be considered as composite supply of health care services? This Authority rules that the medicines, consumables, Surgical, […]

Empanelment of Forensic Auditors with Indian Bank

October 6, 2021 11268 Views 0 comment Print

Empanelment of Forensic Auditors with Indian Bank- Applications are invited from qualified Audit Firms for Empanelment of forensic auditors in bank, subject to following eligibility criteria:

Decriminalization of offences under Companies Act, 2013

October 6, 2021 7185 Views 0 comment Print

Over the years, for violations under the Companies Act, 2013 the government had been filing criminal cases as per the provisions of the Act. Out of more than 40,000 cases filed under the Companies Act, 1956 and Companies Act, 2013, almost 39,000 cases (more than 97 per cent) did not involve lapses of serious nature.

AO cannot estimate GP rate without rejection of books & without showing defects

October 5, 2021 6426 Views 0 comment Print

Sanjay Agrawal Vs DCIT (ITAT Raipur) – Rejection of books, arbitrary income estimation, and legal principles – AY 2012-13.

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