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

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TMI Tax Updates - e-Newsletter
March 16, 2018

Case Laws in this Newsletter:

GST Income Tax Benami Property Customs Corporate Laws Insolvency & Bankruptcy Service Tax Central Excise CST, VAT & Sales Tax Wealth tax Indian Laws



TMI SMS


Highlights / Catch Notes

    GST

  • Refund of GST - BRC / FIRC for export of goods - insistence on proof of realization of export proceeds for processing of refund claims related to export of goods has not been envisaged in the law and should not be insisted upon.

  • Refund of GST - exports of goods and services - exporter, at his option, may file refund claim for one calendar month / quarter or by clubbing successive calendar months / quarters. The calendar month(s) / quarter(s) for which refund claim has been filed, however, cannot spread across different financial years.

  • Refund of GST - exports of goods and services - taxes paid under existing laws - efunds of tax/duty paid under the existing law shall be disposed of in accordance with the provisions of the existing law - application under GST to be rejected.

  • Refund of GST - exports of goods and services - Supplies to Merchant Exporters at a concessional rate of 0.05% and 0.1% - the exporter will be eligible to take credit of the tax @ 0.05% / 0.1% paid by him

  • Refund of GST - exports of goods and services - the transitional credit pertains to duties and taxes paid under the existing laws viz., under Central Excise Act, 1944 and Chapter V of the Finance Act, 1994, the same cannot be said to have been availed during the relevant period and thus, cannot be treated as part of ‘Net ITC’.

  • Refund of GST - exports of goods and services - once an application has been submitted afresh, pursuant to a deficiency memo, the proper officer will not serve another deficiency memo with respect to the application for the same period, unless the deficiencies pointed out in the original memo remain unrectified, either wholly or partly, or any other substantive deficiency is noticed subsequently.

  • Refund of GST - exports of goods - Exports after specified period - the jurisdictional Commissioner may consider granting extension of time limit for export as provided in the said sub-rule on post facto basis keeping in view the facts and circumstances of each case

  • Refund of GST - exports of goods and services - The delay in furnishing of LUT in such cases may be condoned and the facility for export under LUT may be allowed on ex post facto basis taking into account the facts and circumstances of each case.

  • Refund of GST - exports of goods and services - refund of eligible credit on account of State tax shall be available even if the supplier of goods or services or both has availed of drawback in respect of central tax.

  • Difficulties in filing of GST Tran-1 - transitional credit - HC directs the government to to reopen the portal within two weeks from today.

  • Income Tax

  • Disallowance of commission expenses - income from providing accommodation entries - Weightage rate of commission - the objections of the assessee that commission expenses were paid for getting purchase bills etc. need to be considered in the light of the documents seized from its premises - AT

  • Validity of assessment - in the event of non assumption of jurisdiction u/s. 143(2) of the Act to frame an assessment the act of the AO in framing an assessment order without issuing notice u/s. 143(2) cannot be saved under the provisions of section 292B or u/s 292BB of I.T. Act, 1961 - AT

  • Addition u/s 68 - share application money - To tide over its financial sickness, apparently, it sought the help of the share applicants. The identity of those share applicants was clearly revealed - O did not conduct any further enquiry except resting his conclusions on surmises - No additions - HC

  • Reopening of assessment - non independent application of mind by assessee - out sourcing of reasons to believe - Assessing Officer has issued the impugned notice without himself coming to a reasonable belief that income chargeable to tax has escaped assessment - interim stay granted to the notice - HC

  • Doctrine of mutuality - receipts by cooperative societies, from its members i.e. non-occupancy charges, transfer charges, common amenity fund charges and certain other charges, are exempt from income tax - the receipts cannot be bifurcated into two segments of receipt and costs, so as to hold the former to be outside the purview of mutuality classifying it as income of the society with commerciality - SC

  • Customs

  • Import of gold - The impugned order cannot ask for the compliance of the condition which was later on introduced in the Policy for the import / bond executed which was made earlier - appeal allowed - AT

  • Confiscation - foreign voyage or coastal run - furnace oil received duty free - The provisions of SEZ Act, 2005 and the Rules made thereunder is clearly not applicable to assess the duty free bunkers received and later used for costal run. - AT

  • Imposition of ADD - Castings for Wind Operated Electricity Generators (PUC) - While upholding the imposition of AD duty as per the final finding, we direct the DA to examine, afresh, the factual claims made by the DI on this aspect. - AT

  • Service Tax

  • SSI Exemption - determination of turnover - abatement of value - N/N. 1/2006-ST - for the purpose of determining the aggregate value for exemption under N/N. 6/2005-ST, only the net value received i.e. after the abatement under N/N. 1/2006-ST is to be considered - AT

  • Club or Association Service - the tax liability on the consideration received from the members for availing certain facilities in the club premises cannot be taxed under "Club or Association Service.” - AT

  • Supply of tangible goods services - there is a transfer of right of possession and effective control of the vessel / dredger to the appellant. This arrangement is outside the purview of service tax liability under a 'supply of tangible goods services' - AT

  • Supply of Tangible Goods service - place of provision of services - the wagon are not located during the entire period by the appellant within the territory of India so the appellant is not liable to pay service tax under the reverse charge mechanism in view of the proviso to Rule 3(iii). - AT

  • Online Information and Data Base Excess or Retrieval Service - received such service from foreign based CRS Companies - Even for the period post to 01/07/2012 there is no material change to attract service tax liability on the part of the appellant. No statutory changes or change in fact were brought in w.e.f. 01/07/2012 in order to vary the finding for this period - demand set aside - AT

  • Refund claim - unjust enrichment - the Service Tax amount in question had not been shown as “claims receivable” in the balance sheet for the relevant period keeping even the possible realization of disputed amount from Department. - AT

  • Works contract - construction activity for providing parking facility for Commonwealth Games-2010 - Such sport event and the structure created for such sport event cannot be considered as commercial or industrial venture. Though the subsequent use of the facility created should not have any implication on the question of tax liability which should be with reference to status of the facility at the time of provision of service - AT

  • Central Excise

  • CENVAT credit - input services distributor (ISD) - Since there is no allegation in the SCN as to the manner of distribution of credit as improper, it is not necessary to enter into such discussion - the disallowance of credit for the reason that appellant has not obtained ISD registration is unjustified and requires to be set aside - AT

  • CENVAT credit - common inputs used in the manufacture of both dutiable and exempted final products - The adjudicating authority has correctly analysed various issues involved and has come to a reasoned conclusion that the processes carried out by the appellant will not amount to a manufacturing process - demand with penalty sustained - AT

  • Scope of SCN - The two contentions are contradictory to each other which gives an impression that there was total confusion in the minds of people who have issued SCN. Therefore, such SCN which is unclear and confusing is not sustainable in law. - AT

  • 100% EOU - CENVAT credit - During the relevant period, the formula prescribed adoption of 25% of BCD and by no stretch, it can be held that 50% of BCD was available to the assessee prior to 5.12.2008. - AT

  • Manufacture - so called activity of quality testing, branding and packing of the already manufactured goods will not be covered by note 6 of Section XVI of the Central Excise Tariff - the appellant is not engaged in the manufacturing of the goods, they are only doing trading activity of bought out goods. - AT

  • CENVAT credit - input services which belong to the buyers - Even assuming time being appellant as recipient of service but since the service was provided on behalf of buyers and for which amount of C&F agency charges collected by the appellant from the buyer service stands received by the buyer and not remained with the appellant - credit not allowed - AT

  • Method of Valuation - transaction value or MRP based value - physician samples cleared free of cost - The assessment cannot be done u/s 4A as the said goods are not marked with MRP - identical goods are different only in respect of size of packing and marking of MRP, are being assessed u/s 4A of the Central Excise Act and such comparable value after suitable adjustments can be adopted for the purpose of assessment of physician samples - AT

  • CENVAT credit - inferior quality limestone cleared to non-cement manufacturers - the respondent has obtained permission from Government of Tamil Nadu to dispose of the waste / inferior quality limestone to nearby industries. Such a disposal of waste will not make the mines non-captive mines - AT

  • Finalisation of Provisional assessment - Two different block periods of four months and two months were taken only to satisfy the six month period as prescribed under sub-Rule (3) of Rule 7 for finalisation of the provisional assessment, which period commences from the date of supply of the details - there could be no clubbing of the various months falling within the period of provisional assessment, as permitted under Rule 7(1) - HC


Notifications


Circulars / Instructions / Orders


News


Case Laws:

  • GST

  • 2018 (3) TMI 679
  • 2018 (3) TMI 678
  • Income Tax

  • 2018 (3) TMI 677
  • 2018 (3) TMI 676
  • 2018 (3) TMI 675
  • 2018 (3) TMI 674
  • 2018 (3) TMI 673
  • 2018 (3) TMI 672
  • 2018 (3) TMI 671
  • 2018 (3) TMI 670
  • 2018 (3) TMI 669
  • 2018 (3) TMI 668
  • 2018 (3) TMI 667
  • 2018 (3) TMI 666
  • 2018 (3) TMI 665
  • 2018 (3) TMI 664
  • 2018 (3) TMI 663
  • 2018 (3) TMI 662
  • 2018 (3) TMI 661
  • 2018 (3) TMI 660
  • 2018 (3) TMI 659
  • 2018 (3) TMI 658
  • Benami Property

  • 2018 (3) TMI 642
  • Customs

  • 2018 (3) TMI 656
  • 2018 (3) TMI 655
  • 2018 (3) TMI 654
  • 2018 (3) TMI 653
  • 2018 (3) TMI 652
  • 2018 (3) TMI 651
  • 2018 (3) TMI 650
  • 2018 (3) TMI 649
  • 2018 (3) TMI 648
  • 2018 (3) TMI 647
  • Corporate Laws

  • 2018 (3) TMI 646
  • 2018 (3) TMI 645
  • 2018 (3) TMI 644
  • Insolvency & Bankruptcy

  • 2018 (3) TMI 657
  • Service Tax

  • 2018 (3) TMI 639
  • 2018 (3) TMI 638
  • 2018 (3) TMI 637
  • 2018 (3) TMI 636
  • 2018 (3) TMI 635
  • 2018 (3) TMI 634
  • 2018 (3) TMI 633
  • 2018 (3) TMI 632
  • 2018 (3) TMI 631
  • 2018 (3) TMI 630
  • 2018 (3) TMI 629
  • 2018 (3) TMI 628
  • Central Excise

  • 2018 (3) TMI 627
  • 2018 (3) TMI 626
  • 2018 (3) TMI 625
  • 2018 (3) TMI 624
  • 2018 (3) TMI 623
  • 2018 (3) TMI 622
  • 2018 (3) TMI 621
  • 2018 (3) TMI 620
  • 2018 (3) TMI 619
  • 2018 (3) TMI 618
  • 2018 (3) TMI 617
  • 2018 (3) TMI 616
  • 2018 (3) TMI 615
  • 2018 (3) TMI 614
  • 2018 (3) TMI 613
  • 2018 (3) TMI 612
  • 2018 (3) TMI 611
  • 2018 (3) TMI 610
  • 2018 (3) TMI 609
  • 2018 (3) TMI 608
  • 2018 (3) TMI 607
  • 2018 (3) TMI 606
  • 2018 (3) TMI 605
  • 2018 (3) TMI 604
  • 2018 (3) TMI 603
  • 2018 (3) TMI 602
  • 2018 (3) TMI 601
  • 2018 (3) TMI 600
  • 2018 (3) TMI 599
  • 2018 (3) TMI 598
  • CST, VAT & Sales Tax

  • 2018 (3) TMI 597
  • 2018 (3) TMI 596
  • Wealth tax

  • 2018 (3) TMI 595
  • Indian Laws

  • 2018 (3) TMI 643
  • 2018 (3) TMI 641
  • 2018 (3) TMI 640
 

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