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Correctness of reasons can be decided during re-assessment proceedings and not in writ: HC

August 28, 2021 1872 Views 0 comment Print

DCIT Vs Daimler India Commercial Vehicles Private Ltd. (Madras High Court) In the present case on hand, the appellants clearly stated the reason for reopening that particular fact has not been disclosed fully and truly in the assessment proceedings and so whether the assessee had disclosed it or not, can be decided by the authorities […]

HC Directs petitioner to apply for provisional release of goods to Custom Authorities

August 28, 2021 1383 Views 0 comment Print

Hazel Mercantile Ltd. Vs Chief Commissioner of Customs (Gujarat High Court) We find from the records of the case is that the though it is a stand of the Union of India that there can be no provisional release of goods pending seizure for which reliance is placed on a decision in the case of […]

Master Directions on Prepaid Payment Instruments (PPIs)

August 27, 2021 5346 Views 0 comment Print

Master Directions on Prepaid Payment Instruments (MD-PPIs) provide a framework for authorisation, regulation and supervision of entities issuing and operating PPIs in the country;

HC upheld deletion of imaginary estimation & enhancement of turnover

August 27, 2021 1140 Views 0 comment Print

CIT Vs Paul Devaraj (Madras High Court) Assessing Officer enhanced the turnover by comparing the packing material consumed by the assessee, which is incorrect and that there is an arithmetical error in the calculation done by the Assessing Officer. The Assessing Officer considered the secondary packing material as packing material consumed for the purpose of […]

Sunset review investigation concerning imports of tyre curing presses

August 27, 2021 375 Views 0 comment Print

Case No. AD (SSR)- 19/2020 Sunset review investigation concerning imports of tyre curing presses originating or exported from China PR.

E-Commerce Operator for booking of cabs liable for GST registration

August 27, 2021 3420 Views 0 comment Print

In re Gensol Ventures Pvt.Ltd. (GST AAR Gujarat) 1. Whether the applicant is liable to be registered and classified under the Category of E-Commerce Operator? M/s Gensol is an e-commerce operator and shall be liable to be registered. 2. Whether the applicant is liable to pay or discharge Goods & Service Tax(GST) in accordance to […]

Transfer on a going concern is supply of service & exempted from GST

August 27, 2021 7068 Views 0 comment Print

In re Airport Authority of India (GST AAR Gujarat) 1. Whether the transfer of business by the AAI to the M/s. Adani Ahmedabad International Airport Limited be treated as Supply u/s. 7 of the Central Goods and Service Tax Act, 2017 (“CGST”) viz-a-viz Gujarat State Goods and Service Tax Act, 2017 (“GSGST”)? The Subject Supply […]

Digitalization is to convenience tax payers & not to harass them; HC allows Transitional Credit

August 27, 2021 906 Views 0 comment Print

BMW India Financial Services Pvt. Ltd.  Vs Union of India (Telangana High Court) In the facts of the present case, even though the petitioner is in receipt of an acknowledgment number and also an email confirming successful submission of the Form GST TRAN-1 electronically, the information furnished thereunder is not transitioned into online electronic credit […]

SEBI: Modalities for implementation of framework for Accredited Investors

August 26, 2021 831 Views 0 comment Print

Under the framework for Accredited Investors , AIs may avail flexibility in minimum investment amount (Lower ticket size) or concessions from specific regulatory requirements applicable to investment products, subject to conditions applicable for specific products/ services under the aforesaid Regulations.

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

August 25, 2021 1224 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.

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