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HC grants Anticipatory bail against arrest under GST for alleged bogus billing

July 21, 2019 2682 Views 0 comment Print

Mr. Mahendra Kumar Singhi Vs Commissioner of Commercial Taxes (Karnataka High Court) Though several contentions have been raised with reference to initiation of the action under the GST Act and CST Act, since the scope of these petitions is limited only to consider the bail applications, the other points which have been raised are not […]

Amendments proposed in Finance (No. 2) Bill, 2019

July 20, 2019 3393 Views 0 comment Print

List No. 3′ LOK SABHA ——– FINANCE (NO.2) BILL, 2019 [As introduced in Lok Sabha] Notice of Amendments S.No Name of Member and text of Amendment Clause No. SMT. NIRMALA SITHARAMAN: 7 Page 6, for lines 47 to 49, substitute.- “(viii) income arising outside . India, being any sum of money referred to in sub-clause (xviia) […]

ICAI Post-Budget Memorandum – 2019

July 20, 2019 3480 Views 1 comment Print

Clause 25 – Proposed section 80EEA – Tax incentive for affordable housing – Certain concerns to be addressed In order to promote affordable housing, the Finance (No. 2) Bill, 2019 proposed to introduce a new section 80EEA so as to provide an additional deduction of up to Rs 1,50,000/- for interest paid on loans borrowed up to 31.03.2020 for purchase of an affordable house valued up to Rs 45 lakh.

Guidelines for Disposal of Muriate of Potash (MoP) Seized/Confiscated by Customs

July 19, 2019 1041 Views 0 comment Print

The field formations may get the stock of seized/ confiscated MoP inspected by the Fertilizer Inspector of Central Fertilizer Quality Control and Training Institute (CFQCTI), Faridabad and its 3 Regional Fertilizer Testing Laboratories at Chennai, Kalyani Distt. Nadia (West Bengal) and Navi Mumbai, to ascertain whether it is Standard Grade Fertilizer or Non-Standard Grade Fertilizer

ACES GST Integration for Tax Officers to Change Assessee Password

July 19, 2019 8256 Views 0 comment Print

ACES GST Integration- Issue of Advisory for Tax officers to Change Assessee Password for Existing Tax payers of Central Excise and Service Tax in the integrated CBIC-GST Tax Payer portal

What After the ICJ Judgement in Jadhav Case?

July 18, 2019 1152 Views 0 comment Print

The judgement of International Court of Justice (ICJ) delivered on the 17th of July, 2019 has strongly supported and upheld India’s case on most issues. The Court held that the Vienna Convention binds both the countries which effectively provides for consular access.

IGST payable under RCM on import of Service by Govt for business

July 18, 2019 4452 Views 0 comment Print

In re M/s. Directorate of Skill Development (GST AAR Madhya Pradesh) If the service is imported for the purpose of business or commerce even by the Govt then exemption would not be available and Govt need to pay GST under Reverse Charge. This can be further substantiated as per Q No 14 of GST Sectorial […]

Jadhav case: ICJ Rules in favour of India (Read Order & Press Release)

July 17, 2019 1113 Views 0 comment Print

Jadhav case (India v. Pakistan)- The Court finds that the Islamic Republic of Pakistan, in the matter of the detention and trial of an Indian national, Mr. Kulbhushan Sudhir Jadhav, has acted in breach of the obligations incumbent on it under Article 36 of the vienna Convention on Consular Relations

Non-compete rights are Intangible asset eligible for depreciation: HC

July 17, 2019 2184 Views 0 comment Print

Section 32(1)(ii) Rights acquired by the assessee under the said agreement not only give enduring benefit, protected the assessee’s business against competence, that too from a person who had closely worked with the assessee in the same business. The expression ‘or any other business or commercial rights of similar nature’ used in Explanation 3 to sub-section 32(1)(ii) is wide enough to include the present situation and make Assess eligible to claim depreciation on Non-compete rights.

MCA notifies Court at Pune U/s. 435(1)

July 17, 2019 846 Views 0 comment Print

Notification of Special Court (Court of District Judge-1 and Additional Sessions Judge) at Pune (Maharashtra) under sub-section (1) of Section 435 of the Companies Act, 2013 MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the 17th July, 2019 S.O. 2564(E).—In exercise of the powers conferred by sub-section (1) of section 435 of the Companies Act, 2013 (18 […]

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