Existing State of J&K has been reorganized into Union territory of J&K and Union Territory of Ladakh w.e.f. 31-10-2019 vide Jammu and Kashmir Reorganisation (Removal of Difficulties) Order, 2019. Applicable Statutes The Jammu and Kashmir Goods and Services Tax Act, 2017 shall be applicable to the Union Territory of Jammu and Kashmir and the Union […]
Area based Excise Duty exemption does not cover exemption from Education Cess, NCCD – Analysis of M/s. Unicorn Industries Vs Union of India & Others (Supreme Court of India); Civil Appeal No. 9237 of 2019; 06/12/2019 When a particular kind of duty is exempted, other types of duty or cess imposed by different legislation for […]
1. As per Rule 138E, non furnishing of CMP-08 for 2 consecutive quarters shall result in blocking of E way bill for Composition Dealers. CMP-08 for April to June 2019 was required to be filed till 31-08-2019 (N/N 35/2019-CT dated 29-7-2019) and CMP-08 for July to Sep 2019 is required to be filed till 22nd […]
Circular No. 125/44/2019 – GST dated 18-11-2019: The circular aims at automating the entire refund process. Many a new concepts and procedures for refunds have been laid. At the same time old guidelines have been consolidated, and some of them have been modified , altered, simplified and rationalized. This article presents a summary of important […]
Textile, Jewellery etc. manufacturing and other processes on goods belonging to other unregistered person clarified to be taxable @ 18% Circular No. 126 dated 22-11-2019 has clarified that ,if manufacturing services are performed on goods belonging to unregistered persons, then tax rate shall be 18%. Sectoral Impact Apart from textile, jewellery other sectors like footwear, […]
Introduction Notification No. 49/2019 dated 9-10-2019 places the 20% as maximum cap for availing ITC on Invoices not uploaded by the supplier. The discussion here in is centred around this new Rule of law.: Following points need to be considered before analysing this new Rule Para 4 of Press Release dated 18-10-18 stares in face […]
Get insight into Comparative Tax Rates post Taxation Laws (Amendment) Ordinance 2019. Explore the tax rates of different domestic companies and individual taxpayers.
Article discusses Circular No. 105/24/2019-GST dated 28-06-2019 to Understand Implications of Clarification on secondary Discounts. Other relevant References 1. K K Polymers (AAR Rajasthan) dated 13-10-2018 2. MRF Limited (AAR Tamilnadu) dated 22/01/2019 3. UltraTech Cements (AAR Maharashtra) dated 27-06-2018 4. Polycab Wires (AAR Kerala) dated 2-03-2019 5. Circular No. 92/11/2019 dated 7-03-2019 Backdrop of […]
Celebrated case of P.V. Ramana Reddy decided by Telangana High Court on 18-04-2019 has been left unperturbed by Supreme Court in [2019] 106 taxmann.com 301 (SC) and pronounced on 27-05-2019. In Sapna Jain & Ors also, Supreme Court has advised that High Courts while entertaining pre arrest petitions will Keep in mind the order of […]
CIT Vs. Ram Kishan Dass (Supreme Court) Facts of the case Revenue is in appeal against Delhi High Court order holding that proviso to section 142(2C) authorizing AO to extend the time limit suo moto w.e.f. 01-04-2008 is prospective in nature and therefore AO can extend time for special audit on application of assessee and not […]
