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HC directs dept to not to saddle Petitioner with interest & penalty for GST wrongly paid to Railways

September 14, 2022 1620 Views 0 comment Print

CGST authorities and SGST authorities would consider Petitioner’s case sympathetically when it comes to interest and penalty. Unless they have some other reason, Petitioner should not be saddled with interest and penalty.

Defective/Demo Car cannot be delivered against Booking of New Car: SC

September 14, 2022 3384 Views 0 comment Print

SC held that Non delivery of a new car can be said to be an unfair trade practice and even it can be said to be dishonesty on the part of the dealer and against the morality and ethics

Drawback refund cannot be denied for Mistakenly suffixing ‘A’ instead of ‘B’

September 14, 2022 723 Views 0 comment Print

Petitioner never claimed higher draw back. Mistakenly suffix ‘A’ was included instead of ‘B’ but draw back claimed was same as custom component

Proportionate disallowance of interest U/s. 14A not warranted if interest free own fund exceeds investment: SC

September 14, 2022 1839 Views 0 comment Print

CIT Vs UTI Bank Ltd (Supreme Court of India) SC upheld its judgment in ‘South Indian Bank Ltd. v. Commissioner Of Income Tax’ and held that the proportionate disallowance of interest is not warranted, under Section 14A of Income Tax Act for investments made in tax free bonds/ securities which yield tax free dividend and […]

No penalty for incomplete Part-B of e-way bill due to technical error

September 14, 2022 7107 Views 0 comment Print

Prima-facie no intent to evade duty can be ascertained, penalty cannot be levied only on allegation that Part-B of e-way bill not filled

Exit Form submitted by NPS retiree must be considered as proposal form: IRDAI

September 13, 2022 849 Views 0 comment Print

The Exit Form submitted by NPS retiree must be considered as the proposal form, for offering the immediate annuity product by the insurance companies.

SEBI Master Circular on Surveillance of Securities Market

September 13, 2022 3135 Views 0 comment Print

In order to ensure availability of comprehensive information mentioned in the circulars pertaining to Surveillance of Securities Market at one place, SEBI has been issuing Master Circular.

GST on PMC/PMCS services to State Urban Development Authority

September 13, 2022 3156 Views 0 comment Print

In re KDS Services (P) Ltd (GST AAR Uttar Pradesh) Question-1- Whether the Project Development Service (i.e. Detailed Project Report Service/Beneficiary Document Preparation) and Project Management Consultancy services (‘PMCS’) Supervision Services provided by the applicant to tha recipient under the contract from State Urban Development Authority (herein referred as “SUDA”) and the Project Management Consultancy […]

ITC not eligible on inputs/input services procured for promotional scheme

September 13, 2022 3213 Views 0 comment Print

Whether GST on inputs/input services procured for promotional scheme eligible for input tax credit under GST law – section 16 read and section 17

18% GST applicable on works contract services to Uttar Pradesh Jal Nigam

September 13, 2022 1854 Views 0 comment Print

In re Suez India Private Limited (GST AAR Uttar Pradesh) Question-1 Whether the services provided as a Uttar Pradesh Jal Nigam would be considered as a service provided to a governmental authority under GST Laws? Answer-1- Replied in affirmative. by way of Notification No. 15/2021-Central Tax (Rate) dated November 18, 2021, the lower rate of […]

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