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Home e-Newsletters Index Year 2022 July Day 16 - Saturday

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TMI Tax Updates - e-Newsletter
July 16, 2022

Case Laws in this Newsletter:

GST Income Tax Customs Insolvency & Bankruptcy Service Tax CST, VAT & Sales Tax



Highlights / Catch Notes

    GST

  • Levy of IGST - Export of services or not - telecom services - Place of supply - international Inbound Roaming Services (IIR) and International Long Distance (ILD) Services - As per Section 13(2) of the IGST, the place of supply of services, except the services specified in sub-sections (3) to (13), shall be the location of the recipient of services - Vodafone Idea Limited has not supplied services specified in sub-sections (3) to (13) of Section 13. Therefore, the place of service or supply of service supplied by Vodafone Idea Limited is the location of recipient of the service, i.e., location of the FTO, which is outside India. - HC

  • Rejection of the transition of the ITC - Levy of penalty for wrongful transition, ineligible credit as well as interest - rejection of transition of ITC - The motives of the petitioner are found to be bondfide in law, since it not only asks for a refund but also states that it is not entitled for transition under GST laws. - Let the refund claim dated 19.07.2017 be processed on merits by the State Taxes Officer/R1, and paid over to the petitioner with interest till 27.12.2017, being the date when the TRAN 1 application was filed by the petitioner, within a period of four weeks from date of receipt of copy of this order. - HC

  • Classification of supply - transfer of business by the Airport Authority of India to the M/s. Adani Lucknow International Airport Limited - supply as going concern or not - we find the subject business arrangement is 'transfer of going concern'. As such, we find no merit to vivisect the subject Contract and examine the treatment of aeronautical assets/ non aeronautical assets/ other business assets in the Contract entered between AAI and SPV - As such, the transfer of business by Airports Authority of India to SPV is transfer of a 'going concern' and the same is not covered in clause 4 of schedule II of CGST Act. - AAR

  • Classification of supply - supply of services or not - works contract services - composite supply or not - the activities of installation, commissioning, testing, supplying mechanical work and electrical work are not in respect of immovable property as the Machinery and plant is attached to concrete base to prevent vibration/wobble free operation and preventing vibration/wobble free operation does not qualify for being described as attached to the earth under any one of the three clauses described above (para 14.5). Hence, the said supply of goods/services by the applicant to JV is not works contract. - AAR

  • Profiteering - ervices by way of admission to exhibition of cinematograph films - the profiteering amount is determined as Rs. 2.66,99,340/- as per the provisions of Rule 133 (1) of the CGST Rules, 2017. The Respondent is therefore directed to reduce the prices of his tickets as per the provisions of Rule 133 (3) (a) of the CGST Rules, 2017, keeping in view the reduction in the rate of tax so that the benefit is passed on to the recipients. - NAPA

  • Income Tax

  • Validity of Warrant of authorization u/s 132 - It was a reasonable belief drawn by the Revenue that the assessee shall not produce or cause to be produced any books of accounts or other documents which would be useful or relevant to the proceedings under the Act. Such believe was not based upon conjectures but on a bona-fide opinion framed in the ordinary conduct of the affairs by the assessee generally. - Revenue may fail or succeed but that would not be a reason to interfere with the search and seizure operations at the threshold, denying an opportunity to the Revenue to unravel the mystery surrounding the investment made by the assessee. - SC

  • Denial of deduction u/s 54F - allegation of investment in more than one house by assessee - The conclusion of Ld. AO overlooks the fact that the multi-storied building was subjected to one property tax assessment and pertinently, it has one door number only. In our considered opinion, there is nothing in the statutory provisions which debar the assessee to make separate independent livable units on a single piece of land or obtain more than one electricity connection to claim the deduction. - AT

  • Interest u/s. 234C - advance tax - dividend has been received by the assessee only in third and fourth quarters of the financial year - the assessee had duly paid the advance tax on the said dividend income taxable u/s.115BBDA of the Act in the third and fourth quarters of the financial year. Hence, as per the old proviso to Section 234C (1) of the Act, there cannot be any levy of interest u/s.234C of the Act that could be fastened on the assessee for the first two quarters by apportioning dividend income for the whole year. - AT

  • Addition u/s 68 - unexplained share premium and share capital - the assessee has substantially provided materials to prove the genuineness of the share holders apart from giving the Pan Card, name and ROC details. In our considered opinion, the Ld.CIT(A) has erred in confirming the addition u/s 68 of the Act on account of unexplained share premium and share capital. - AT

  • Allowable as business expenses - Small contributions to local people and institution on request of employees and business associates - Section 37 of the Act contemplates that any expenditure not being expenditure of the nature described in sections 32 to 36 and not being in the nature of capital expenditure or personal expenses of the assessee laid out or expended wholly and exclusively for the purpose of the business or profession shall be allowed in computing the income chargeable under the Head “Profits & Gains of Business or Profession”. AO failed to appreciate the nature of business of the assessee and the surrounding social environment where it has been carrying out its business. - AT

  • Customs

  • Duty Drawback - re-export - The petitioner would have been entitled to a drawback of either 85% or 70% depending on when the goods were re-exported, if they had paid 100% customs duty and not filed declarations under Notification 27/02. Since petitioner had not paid 100% duty availing of Notification 27/02 and had already availed of concession as per Notification 27/02, petitioner is not entitled to any drawback. - HC

  • Classification of imported goods - gold which are round in shape and have images of gods, saints, temples or historical sites - The claim of the appellant for classification of these imported goods as “articles of gold‟ under CTI 7114 19 10 and benefit of exemption allowed - AT

  • IBC

  • Seeking withdrawal of the CIRP proceedings - in the Terms of Settlement dated 21.04.2022, in Clause 12, it was mentioned that because of the Settlement, the Appellant/Petitioner wished to conditionally withdraw the Section 7 Petition filed against the Corporate Debtor, subject to the Corporate Debtor, Corporate Debtor Group and Confirming Parties (as defined in the Terms of Settlement) unconditionally complying with all covenants contained in the Terms of Settlement. - Order of NCLT modified - AT

  • VAT

  • Amendment to repealed VAT Act post GST era - whether right of filing appeal accrues on the date of order of assessment and requirement of mandatory predeposit introduced by way of amendment does not apply to the orders passed in the assessment years prior to 15th April 2017, is correct or not. - The Legislature has power to remove the defects retrospectively and prospectively by Legislative action so as to cure the defect or inconsistency in the law declared by the Court so as to remove such inconsistency from the statute for effective enforcement of law - when a law is enacted with retrospective effect, it is not considered as an encroachment upon judicial power when the legislature does not directly overrule or reverse a judicial dictum. The legislature cannot, by way of an enactment, declare a decision of the Court as erroneous or a nullity, but can amend the statute or the provision so as to make it applicable to the past. - HC

  • Deletion of penalty - Tribunal erred in deleting the penalty imposable on the dealer under Section 42(5) of the OVAT Act, particularly since it came to the conclusion that the levy of tax on the uncollected VAT amount by the dealer was not excusable and upholding the orders of the STO and the JCST in that regard. - HC


Articles


Notifications


News


Case Laws:

  • GST

  • 2022 (7) TMI 647
  • 2022 (7) TMI 646
  • 2022 (7) TMI 645
  • 2022 (7) TMI 644
  • 2022 (7) TMI 643
  • 2022 (7) TMI 642
  • 2022 (7) TMI 641
  • 2022 (7) TMI 640
  • 2022 (7) TMI 605
  • Income Tax

  • 2022 (7) TMI 639
  • 2022 (7) TMI 638
  • 2022 (7) TMI 637
  • 2022 (7) TMI 636
  • 2022 (7) TMI 635
  • 2022 (7) TMI 634
  • 2022 (7) TMI 633
  • 2022 (7) TMI 632
  • 2022 (7) TMI 631
  • 2022 (7) TMI 630
  • 2022 (7) TMI 629
  • 2022 (7) TMI 628
  • 2022 (7) TMI 627
  • 2022 (7) TMI 626
  • 2022 (7) TMI 625
  • 2022 (7) TMI 624
  • 2022 (7) TMI 623
  • 2022 (7) TMI 622
  • 2022 (7) TMI 621
  • 2022 (7) TMI 620
  • Customs

  • 2022 (7) TMI 619
  • 2022 (7) TMI 618
  • Insolvency & Bankruptcy

  • 2022 (7) TMI 617
  • 2022 (7) TMI 616
  • 2022 (7) TMI 615
  • 2022 (7) TMI 614
  • 2022 (7) TMI 613
  • 2022 (7) TMI 612
  • 2022 (7) TMI 611
  • 2022 (7) TMI 610
  • Service Tax

  • 2022 (7) TMI 609
  • CST, VAT & Sales Tax

  • 2022 (7) TMI 608
  • 2022 (7) TMI 607
  • 2022 (7) TMI 606
 

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