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Bombay HC issues directions on filing of GST TRAN-1/revised GST TRAN-1

September 5, 2022 1803 Views 0 comment Print

Unichem Laboratories Limited Vs Union of India (Bombay High Court) (a) All Petitioners, through their respective units/offices registered under CGST Act and/or State Acts, as the case may be, can avail this window and file GST TRAN-1/revised GST TRAN-1 at the units/offices between 01.09.2022 to 31.10.2022 in terms of the Hon’ble Supreme Court’s order in […]

Canvat carry forward under GST regime cannot be denied for late payment

September 5, 2022 1059 Views 0 comment Print

Assistant Commissioner of GST & Central Excise Vs Ganges International Private Limited (Madras High Court) High Court held that carry forward of service tax eligible for CENVAT in erstwhile regime cannot be denied for late payment can be denied under GST due to Transitional Period and inability of the petitioner to claim through filing FORM GST […]

Validity of an order has to be adjudged on the basis of reasoning contained therein

September 5, 2022 597 Views 0 comment Print

Lupin Ltd Vs Union of India (Jammu & Kashmir High Court) Initially, the petitioner was declared to be eligible for exemption/budgetary support till 05.02.2023 but after the subsequent investigation, in view of the order dated 26.07.2021, the petitioner’s unit was found eligible for such benefit only upto 06.11.2017. Therefore, the claim of the petitioner for […]

Tata play guilty of profiteering of Rs. 225 crore in DTH services: NAA

September 5, 2022 1779 Views 0 comment Print

Applicant No. 1 alleging profiteering in respect of DTH (Direct to flume) Service supplied by the Respondent vide subscription ID No. 1088222136 in respect of payment of half yearly/annual subscription charges.

No penalty on clearing agent for mere introducing actual importer with IEC holder

September 5, 2022 672 Views 0 comment Print

Girish Kumar Singh Vs Commissioner of Customs (CESTAT Delhi) On facts, the role of appellant was only to arrange meeting between Devi Das and Habib-uz-Zaman and the appellant neither filed the bill of entry or was involved in clearance of goods. Any action on the part of appellant much before the import of goods could […]

No Bar on CENVAT Credit availment Under Rule 3(7) When CVD Availed

September 5, 2022 840 Views 0 comment Print

Taking into consideration Notification No. 12/2012-Cus there is no bar for availment of CENVAT Credit in terms of the Rule 3(7) where duty paid under Notification No. 12/2012-Cus and CENVAT Credit cannot be denied.

ESOP price difference between offer & market price allowable as revenue expense

September 5, 2022 1719 Views 0 comment Print

PVR Ltd Vs CIT (Delhi High Court) HC held that ITAT erred in law in holding that the difference between the price at which stock options were offered to employees of the appellant company under ESOP and ESPS and the prevailing market price of the stock on the date of grant of such options was […]

Section 10(46) CBDT notifies Haryana Electricity Regulatory Commission

September 5, 2022 720 Views 0 comment Print

CBDT notifies Haryana Electricity Regulatory Commission under Section 10(46) of income Tax Act, 1961 vide Notification No. 108/2022 – Income Tax | Dated: 5th September, 2022 MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) New Delhi Notification No. 108/2022 – Income Tax | Dated: 5th September, 2022 S.O. 4155(E).—In exercise of the powers […]

CBDT notifies CERSAI under Section 10(46)

September 5, 2022 2061 Views 0 comment Print

CBDT notifies ‘Central Registry of Securitisation Asset Reconstruction and Security Interest of India (CERSAI )’ under Section 10(46) of income Tax Act, 1961 vide Notification No. 107/2022 – Income Tax | Dated: 5th September, 2022 MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) New Delhi Notification No. 107/2022 – Income Tax | […]

Chinese Loan App Case – ED searches 6 premises in Bengaluru

September 3, 2022 954 Views 0 comment Print

ED carried out search operations on 02.09.2022 at 06 premises in Bengaluru, in respect to an investigation relating to Chinese Loan App Case

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