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18% GST Payable on Springs & leaves for springs of iron and steel

October 9, 2018 2277 Views 0 comment Print

In re Trailor Springs (GST AAR Andhra Pradesh) Clarification on Rate of tax applicable on trailor springs  ( Attachment) parts, Leaf Springs, Disks, Axels, Hubs & Shacke Pins mean for Tractor Trailors. The applicant sought for the rate of tax on the parts of tractor trailer including the leaf springs. In the other column they […]

No Addition for deposits in foreign bank A/c having no connection to income derived in India

February 13, 2019 2277 Views 0 comment Print

AO was incorrect in making addition towards deposits found in foreign bank account of assessee maintained with HSBC Bank, Geneva without establishing the fact that the said deposit was sourced out of income derived in India, when the assessee had filed necessary evidences to prove that he was a non resident since 25 years and his foreign bank account and assets did not have any connection with India and that the same have been acquired / sourced out of foreign income which had not accrued / arisen in India.

Gist of GST Notifications, Circulars and order dated April 23 2019

April 25, 2019 2277 Views 1 comment Print

Gist of Notifications, Circulars and removal of difficulties order issued dated 23rd April, 2019 Notification No. 20/2019-Central Tax :- Revocation of cancellation of registration & Quarterly Statement All Returns due for the Period from the date of order of cancellation of registration till date of the order of revocation of cancellation (from the effective date […]

Survey cannot be converted into search without recording satisfaction

May 22, 2019 2277 Views 0 comment Print

In case there was only a survey operation under section 131 and no proceedings were pending at that point of time in assessee’s case, exercising power of search under section 132 by income tax authorities without any satisfaction recorded either of non-­cooperation of assessee or a suspicion that income had been concealed by assessee warranting resort to the process of search and seizure made the the process of search and seizure conducted as invalid and to be quashed .

Things to know when buying Home by taking Home Loan

June 5, 2020 2277 Views 1 comment Print

1. Credit Score: Credit score is a number which calculated by various Credit Rating Agencies. Try to Improve your credit score by not defaulting any credit card payment or any EMI payment. If you delay the credit card payment, it impacts your credit card. Do not apply loan again & again. It affects your Credit […]

A critique on ‘Sea Cargo Manifest & Transhipment Regulations, 2018’

September 9, 2020 2277 Views 0 comment Print

The Government of India Central Board of Indirect Taxes and Custom vide their notification No. 38/2018- Customs (N.T.) have announced Sea Cargo Manifest and Transshipment Regulations 2018, which were supposed to come into force on August 1, 2018. Following a number of extensions and amendments, the Regulations are finally scheduled from 1st October 2020. The new Regulations essentially […]

Reg. definitive Anti-Dumping duty on Certain Glass Fibre & articles thereof’

October 3, 2020 2277 Views 0 comment Print

Notification No. (MTR Case No. 08/2019) Subject : Mid-Term Review to review the product scope of definitive Anti-Dumping duty imposed on Certain Glass Fibre and articles thereof’ originating in or exported from China PR.

Reassessment on Investigation Wing report without further enquiry was invalid

July 14, 2019 2277 Views 0 comment Print

Reassessment under section 147 on the basis of report of Investigation Wing without conducting further enquiry on the same was invalid and liable to be set aside.

GST on Tool Amortisation cost on Capital Goods received on return basis

July 16, 2019 2277 Views 0 comment Print

Clarification regarding applicability of Tool Amortisation cost (Transaction Value) in GST Regime on Capital Goods received freely on returnable basis from the recipients (Customer) for parts production and supply.

Sabka Vishwas (Legacy Dispute Resolution) Scheme- Analysis

August 24, 2019 2277 Views 1 comment Print

The Sabka Vishwas (Legacy Dispute Resolution) Scheme is a one time measure for liquidation of past disputes of Central  Excise and Service Tax as well as to ensure disclosure of unpaid taxes by a person eligible to make a declaration. The Scheme shall be enforced by the Central Government from a date to be notified.

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