Whether engine manufactured and supplied solely and principally for use in railways/locomotives are classifiable under HSN Heading 8408 or under HSN Heading 8607 of the Customs Tariff (which has been borrowed for classification purposes under GST regime) as a part used solely or principally for Railways or Tramway Locomotives or Rolling Stock?
Union Budget 2019 – New Finance Minister Smt. Nirmala Sitharaman’s first budget after the huge and unprecedented electoral win of Sh. Narendra Modi Government has the backing of a mammoth public mandate and as such is expected to be a reform oriented budget and not a populist one. However, along with the bold and reform […]
A Commission Agent is required to obtain Compulsory Registration u/s 24(vii) of CGST Act, irrespective of its turnover. Thus, the threshold limit of Rs.20 lakh as enunciated in section 22(1) of CGST Act, does not apply to an Agent.
ANALYSIS OF AMENDMENT OF ITS OWN RULING BY AAR-WEST BENGAL ON NON ADMISSIBILITY OF ITC OF GST PAID ON INWARD SUPPLY/PURCHASE OF MOTOR VEHICLE USED FOR SUPPLYING RENT-A-CAB/RENTING/LEASING/HIRING SERVICE Case Name : Mohana Ghosh, In Re Appeal Number : 06/WBAAR/2019-20 & 08/WBAAR/2019-20 Date of Judgement : Original on 10/06/2019 & suo motto amended by AAR […]
Is the recent SC judgement holding allowances as part of basic wages for the purpose of determination of PF contribution, in contradiction with the stand of the Law makers and implementeors? In its recent judgement in the case of RPFC vs. Vivekananda Vidyamandir and others & Surya Roshni Ltd & Ors. vs. The State of […]
CBIC), has issued Notification No. 12/2017-Central Tax Rate dated 28.6.2017, exempting ‘health care services’ rendered at clinical establishments by authorized medical professionals or paramedics, from applicability of GST, vide entry no. 74
Joint Development Agreement (JDA) means an agreement or arrangement between the landowner and the developer wherein the land owner contributes the land to the project and the developer undertakes the construction/development of the said land into a developed estate, at mutually agreeable terms and conditions.
ARE INCOME TAX AUTHORITIES REALLY CHARITABLE WHEN IT COMES TO CHARITABLE TRUSTS? CHARITABLE TRUSTS: INCOME TAX PERSPECTIVE ‘Charity begins at home but should not end there.’ –Francis Bacon The essence of the above quote has been fully captured in the definition of the expression “charitable purpose” as envisaged in the Income Tax Act, 1961. Under […]
The more conventional personal investment alternatives are shares/securities, real estate properties and funds. Personal Investments Decisions are primarily guided by important factors such as rate of return, risk appetite of the investor & time frame of the investments. In addition, one more crucial parameter influencing the personal investment decisions is the Taxation aspect.
The CBDT has very recently issued an Instruction bearing F.No. DGIT(Vig.)/HQ/SI/Appeals/2017-18/9959, dated 8.3.2018, to the CIT(Appeals), concerning the Plenary & Coterminous Powers of CIT(Appeals).The crucial question in this regards, is, as to whether the plenary, coterminous and co-extensive powers of the CIT(Appeals), with that of the Assessing Authority, are to be exercised in judicious disposal of appeals in order to provide appropriate appellate reliefs to the assessees or these are to be exercised with a mindset of curing the technical and legal defects of the Assessing Authorities, in the assessments, so as to provide second opportunity to the Revenue Authorities, in further strengthening their assessments, with a view to deprive the assessees of their appellate reliefs?
