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FM unveils 4th edition of Public Sector Bank Reforms Agenda – EASE 4.0

August 25, 2021 1215 Views 0 comment Print

Union Minister of Finance and Corporate Affairs Smt. Nirmala Sitharaman today unveiled the fourth edition of the Public Sector Bank (PSB) Reforms Agenda ‘EASE 4.0’ for 2021-22 – tech-enabled, simplified, and collaborative banking. She unveiled the annual report for the PSB Reforms Agenda EASE 3.0 for 2020-21 and participated in the awards ceremony to felicitate best performing banks on EASE 3.0 Banking Reforms Index.

Karnataka HC directs GST authorities to Permit Filing of Tran-1

August 25, 2021 459 Views 0 comment Print

Malnad Projects Private Limited Vs Union of India (Karnataka High Court) The subject matter of this Writ Petition is substantially similar to the one treated by a Division Bench of this Court in W.A.No.461/2020 (T-RES) between UNION OF INDIA AND OTHERS Vs. M/S AT AND S INDIA PVT. LTD., AND ANOTHER, disposed off on 1.4.2021 […]

Tokenisation – Card Transactions : Extending the Scope of Permitted Devices

August 25, 2021 798 Views 0 comment Print

RBI decided to extend the scope of tokenisation to include consumer devices – laptops, desktops, wearables (wrist watches, bands, etc.), Internet of Things (IoT) devices, etc.

Purchaser has no locus standi to file Advance ruling application

August 24, 2021 1341 Views 0 comment Print

In pursuance to Section 95(a) CGST Act, We hold that the Question raised by the applicant does not fall under the gamut of said Section 95(a). Thereby, in pursuance to Section 95(a) and Section 103(1) of CGST Act, we hold that the applicant has no locus standi to file subject application.

Department of Posts – Roll-Out plan for RICT CBS version 1.4.3.0

August 24, 2021 3645 Views 0 comment Print

SB Order No. 25/2021 No.FS-10/47-2021-FS-DOP Govt. of India Ministry of Communications Department of Posts (F S Division) Dak Bhawan, New Delhi-110001 Dated: 24.08.2021 To, All Head of Circles/Regions Subject: – Regarding roll out of RICT CBS version 1.4.3.0 in RICT CBS devices from 25.08.2021. Sir/Madam, New RICT CBS version 1.4.3.0 for RICT devices have been […]

Classification of Gypsum Board made-up of Gypsum, glass fibre & additives

August 24, 2021 2235 Views 0 comment Print

In re USG Boral Building Products (India) Private Limited (GST AAR Rajasthan) We find that the applicant has submitted the technical specification with respect to contents of the impugned product. The applicant submitted that the proposed new variant of Gypsum Board is made-up of Gypsum, glass fibre and additives, the main raw material is Gypsum […]

Deemed dividend not attracted on Loan Taken on interest

August 18, 2021 2859 Views 0 comment Print

DCIT Vs Heilgers Development & Construction Company Pvt. Ltd (ITAT Kolkata) The loan amounts in question treated as deemed dividend u/s 2(22)(e) by the AO were taken by the assessee-company from the three concerns on interest and since the said lending companies were compensated by interest paid by the assessee-company on the loans, the assessee-company […]

Advance ruling obtained with misrepresentation of facts is void ab-initio

August 18, 2021 1398 Views 0 comment Print

In re J K Papad Industries (GST AAAR Gujarat) Appellant has obtained the Advance Ruling by submitting application of advance ruling with suppression of material facts or misrepresentation of facts, and the application was not eligible to be admitted in view of proviso to sub-section (2) of section 98 of the CGST Act, 2017. Therefore, […]

Others cannot make AAR application for Joint Venture Company

August 17, 2021 1128 Views 0 comment Print

In re Mukesh & Associates (GST AAR Tamilnadu) From the submissions made by the applicant we find that it is the Joint Venture with the Registered seat of the Association at Cologne, Germany is the ‘Person’ to whom the ‘Project’ is awarded and not the applicant. As per existing laws of the land, a Joint […]

GST leviable on residential land provided on lease basis

August 6, 2021 1941 Views 0 comment Print

In re Gwalior Development Authority (GST AAR Madhya Pradesh) Q1. We are providing residential land on lease basis for which we are charging or receiving lease premium whether GST is leviable or not? It is well accepted that in the case of ambiguity in a provision of law, the interpretation shall be liberal. However, in […]

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