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Home e-Newsletters Index Year 2018 November Day 16 - Friday

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TMI Tax Updates - e-Newsletter
November 16, 2018

Case Laws in this Newsletter:

GST Income Tax Customs Service Tax Central Excise



TMI SMS


Highlights / Catch Notes

    GST

  • Classification of goods under GST - Since the Respondent declared that Polypropylene Leno Bags manufactured by weaving polypropylene strips (tapes) under Tariff Heading 3923 29 90 for claiming duty drawback, and no explanation could be offered as to why the Tariff Heading should be changed now to 6305 33 00, it is not permissible under the doctrine of equitable estoppels.

  • Liability of GST - supply of online educational journals or periodicals to IIM - There is no exemption from GST on supply of online educational journals or periodicals to the Indian Institute of Management, Bengaluru.

  • Liability of GST - as the said contract comprises of two or more supplies (i.e. transportation, supply of packing material & incentives) and one of which is principal supply i.e. custom milling of paddy, it shall treated as composite supply - rate of GST to be determined based on principal supply i.e. 5%.

  • Income Tax

  • Penalty imposed u/s 271D r.w.s. 269SS - the entry in the books of account on description and treatment is not decisive as to the nature of the transaction

  • Revision u/s 263 - deduction claimed u/s 80IC - Merely because of percentage of profit is less in Vijayawada unit and more in Rudrapur plant the assessment made under section 143(3) cannot be held as erroneous.

  • TDS on Interest - The interest has been paid on account of directions of Special Court and hence, there is no requirement of TDS.

  • Presumptive income - Once the assessee’s income is accepted u/s 44AE, then the provisions of section 44AA and 44AB are not applicable and consequently there can be no default on the part of the assessee for maintaining the regular books of account as well as getting the same audited.

  • Presumptive income - Application of income u/s 44AD or 44AE - when the assessee fulfills the conditions as prescribed u/s 44AE, then the income computed by the assessee on the basis of said provision cannot be disturbed by applying the other basis which is not applicable in the case of the assessee

  • Assessment u/s 153C - non issue of notice - Non recording of satisfaction - The above conditions of Section 153C are mandatory for taking action against the assessee under section 153C of the I.T. Act. - Assessment quashed.

  • Exemption u/s 54F - LTCG - three flats - while the flats at 13th & 14th Floor are duplex flats joined with each other but the fact remains the third flat is situated on the immediate next floor i.e. 15th floor of the same building which is in the immediate vicinity - Benefit of exemption allowed.

  • Customs

  • The valuation of the goods in question being food supplements, not containing beef has to be done under rule 7 of the Valuation Rules (deductive method).

  • State GST

  • Benami GST Registration – Instructions on measures to prevent evasion of tax.

  • Service Tax

  • Rectification of mistake - Difference of opinion of adjudicating authority than that of the aggrieved party cannot be called as error apparent. It amounts to rehearing of the case, which is not permissible at this stage.

  • CENVAT Credit - input services - repair and maintenance of the hard surfaced container yard installed in the ground located within the yard - Since the activity of repair is specifically finding place in the inclusive parts of the definition, credit allowed.

  • Central Excise

  • Penalty u/s 11AC of CEA on PSU - Inasmuch as the appellant is admittedly a public sector undertaking, and also by appreciating the fact that no evidence stands produced by the Revenue indicating any intent on the part of the assessee, penalty cannot be imposed on appellant

  • CENVAT credit - once the duty has been paid on the legitimately purchased inputs, the appellants are very much entitled for availing credit of the same and it will not make any difference whether the goods have been procured from a unit which is based in area-based exemption or otherwise.

  • CENVAT Credit availed while availing area based exemption under said notification - The self credit of refund taken by the appellant have been sanctioned by the authorities below, therefore, without challenging the same, the show cause notice cannot be issued to the appellant.

  • Returned goods - CENVAT credit of goods brought back in the factory - Rule 16 is wide enough to cover the case of the Appellants in view of the wordings used in it which inter alia includes “any other reason” for receiving the duty paid goods.


Articles


Notifications


Circulars / Instructions / Orders


News


Case Laws:

  • GST

  • 2018 (11) TMI 663
  • 2018 (11) TMI 662
  • 2018 (11) TMI 661
  • Income Tax

  • 2018 (11) TMI 660
  • 2018 (11) TMI 659
  • 2018 (11) TMI 658
  • 2018 (11) TMI 657
  • 2018 (11) TMI 656
  • 2018 (11) TMI 655
  • 2018 (11) TMI 654
  • 2018 (11) TMI 653
  • 2018 (11) TMI 652
  • 2018 (11) TMI 651
  • 2018 (11) TMI 650
  • 2018 (11) TMI 649
  • 2018 (11) TMI 648
  • 2018 (11) TMI 647
  • 2018 (11) TMI 646
  • 2018 (11) TMI 645
  • 2018 (11) TMI 644
  • 2018 (11) TMI 643
  • 2018 (11) TMI 642
  • 2018 (11) TMI 641
  • 2018 (11) TMI 640
  • 2018 (11) TMI 639
  • 2018 (11) TMI 638
  • 2018 (11) TMI 637
  • 2018 (11) TMI 636
  • 2018 (11) TMI 635
  • 2018 (11) TMI 634
  • 2018 (11) TMI 633
  • 2018 (11) TMI 632
  • 2018 (11) TMI 631
  • 2018 (11) TMI 630
  • 2018 (11) TMI 629
  • 2018 (11) TMI 628
  • 2018 (11) TMI 610
  • Customs

  • 2018 (11) TMI 627
  • 2018 (11) TMI 626
  • 2018 (11) TMI 625
  • 2018 (11) TMI 624
  • 2018 (11) TMI 623
  • Service Tax

  • 2018 (11) TMI 622
  • 2018 (11) TMI 621
  • 2018 (11) TMI 620
  • 2018 (11) TMI 619
  • Central Excise

  • 2018 (11) TMI 618
  • 2018 (11) TMI 617
  • 2018 (11) TMI 616
  • 2018 (11) TMI 615
  • 2018 (11) TMI 614
  • 2018 (11) TMI 613
  • 2018 (11) TMI 612
  • 2018 (11) TMI 611
 

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