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Highlights / Annotations / Catch Notes For July of 2018

Home Highlights July July 2018 Year 2018

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Showing 1 to 50 of 399 Records

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July 31, 2018 News GST

Tax Evasion in Post-GST Regime
July 31, 2018 News GST

Note on Simplified Returns and Return Formats July, 2018
July 31, 2018 Act Rules Customs

Sea Cargo Manifest and Transhipment Regulations, 2018 will come into force w.e.f. 1.11.2018 instead of 1.8.2018
July 31, 2018 Case Laws Customs

When there is ambiguity in exemption notification which is subject to strict interpretation, the benefit of such ambiguity cannot be claimed by the subject/assessee and.....
July 31, 2018 Case Laws Income Tax

Capital Gains - The perfection of the title from perpetual leasehold rights to complete ownership had, in such circumstances, to be regarded as a cost of acquisition......
July 31, 2018 Case Laws Income Tax

Sales suppression detected on survey - The assessee having filed its return claiming deduction for the entire expenditure incurred, there is no warrant for making......
July 31, 2018 Case Laws Income Tax

Exemption - the trust can be created even orally and if the assessee is able to give some evidence of creation of such Trust by a word of mouth, the same shall be......
July 31, 2018 Case Laws Income Tax

Expenditure towards acquiring and oping of retail outlets / stores - Operations of these stores at various locations is one composite business and once business had been....
July 31, 2018 Case Laws Income Tax

Addition as Excise duty refund (Self Cenvat Credit) - it is capital receipt - the entire receipt itself cannot be treated as part of taxable receipt and the entire......
July 31, 2018 Case Laws Income Tax

Receipts from domain name registration - the charges received by the assessee for services rendered in respect of domain name is royalty within the meaning of Clause......
July 31, 2018 Case Laws Income Tax

Wharfage charges paid to the KPT is not rent and no TDS is liable to be deducted under the provisions of section 194I of the Act.
July 31, 2018 Case Laws Indian Laws

Cheque bounced - Since no demand was made by the payee or holder in due course, of the subject cheques, by issuance of a statutory notice under section 138, the......
July 31, 2018 Case Laws Customs

Violation of import conditions - the present vehicle (in CKD condition) was imported having electric capacity of more than 250 watt which as per mandatory requirement is....
July 31, 2018 Case Laws Customs

Valuation of imported goods - dry dates of Sukkur variety - The enhancement of the value on the basis of SIIB alert circular without first rejecting transaction value as....
July 31, 2018 Case Laws Service Tax

Rajasthan Housing Board (RHB) will be liable for payment of service tax on the lease amounts recovered by them from the allottee of commercial properties and shops by......
July 31, 2018 Case Laws Service Tax

Rebate/refund claim - export of services - Since the appellant has failed to exercise the doctrine of reasonable time with respect to remaining two claims, those have......
July 31, 2018 Case Laws Service Tax

CENVAT Credit - The appellant is wholly owned corporation of Government of India (PSU) and cannot be attributed with any mala fide so as to justifiably invoke the longer....
July 31, 2018 Case Laws Service Tax

CENVAT Credit - The appellant being in the Banking Sector, cannot be expected to indulge in such clandestine availment of small amounts of Cenvat credit, when they are......
July 31, 2018 Case Laws Central Excise

CENVAT Credit - inputs - supply of bought items such as soap and Herbal oil with manufactured items - credit denied - demand confirmed.
July 31, 2018 Case Laws Central Excise

Classification of goods - tents made of 'cotton' - description of the goods covered by the said SCN matches with the entry in the said notification stating to be......
July 31, 2018 Case Laws VAT and Sales Tax

Time Limitation - escapement of turnover - When there is no limitation prescribed for completion, there could only be the principles of reasonableness applied, on facts.....
July 31, 2018 Case Laws VAT and Sales Tax

If after payment of quarterly tax the compounding application is rejected, necessarily, the assessee will have to file returns by producing the books of account.......
July 30, 2018 Circulars DGFT

The exporters/ members of trade are requested to apply in the online module for SEIS only after 01.09.2018.
July 30, 2018 Act Rules Companies Law

Declaration from Subscribers and First Directors - Requirement of submission of Affidavit done away with - Mere declaration in specified form will be enough - Rule 15 of....
July 30, 2018 Act Rules Companies Law

One Person Company - Meaning of the term "resident in India" who is eligible to incorporate one person company amended - Rule 3 of the Companies (Incorporation) Rules, 2014.
July 30, 2018 Case Laws GST

Valuation under GST - Reduction on account of Discount - Section 15(3)(b) of the CGST Act - Whether the amount paid to authorized dealers towards “rate difference” after....
July 30, 2018 Case Laws Service Tax

Classification of Services - the appellant was providing food services in the premises of Noida Golf Course at Noida - whether the services would fall under the head......
July 30, 2018 Case Laws Service Tax

Commercial Training & Coaching Services - appellant is engaged in only selling of study material to the students of these coaching centers and paying VAT on sale of......
July 30, 2018 Case Laws Income Tax

Transfer pricing - Addition on account of the interest on receivables - the six months period granted by assessee is reasonable and so no interest can be levied just......
July 30, 2018 Case Laws Income Tax

Estimation of profit of Suppressed turnover - Generally in real estate/contract cases, profit is estimated at 12.5%. As assessee has mostly sold real estate plots, we......
July 30, 2018 Case Laws Income Tax

Exclusion of investments in 'Mutual Funds Growth Option' while calculation the disallowance u/s 14A r.w.r. 8D - being investment yielding taxable income - AO directed to....
July 30, 2018 Case Laws Income Tax

Rectification order u/s 154 - claim of long term capital loss - the returns filed u/s 139(5) and claim made therein in the revise return, which has no effect on the......
July 30, 2018 Case Laws Service Tax

Credit Cards Services - issuing bank receiving certain commission from the acquiring bank on swiping of credit cards - the appellant is not engaged in any activity of......
July 30, 2018 Case Laws Income Tax

TDS credit - AO directed to allow the credit of the TDS available in the account of the assessee firm which has ceased to exist due to the succession of the business......
July 29, 2018 Case Laws GST

Levy of GST - Classification - composite supply - EPC Contract - standalone contract for transportation of Equipment for which separate consideration is received - same.....
July 29, 2018 Case Laws GST

Return of seized documents to petitioner - search and seizure under GST - Because of that declaration that the petitioner has no other records to be produced, the......
July 29, 2018 Case Laws Income Tax

Deemed dividend addition u/s 2(22)(e) - power of ITAT u/s 254 - enhancement of tax liability of the assessee - ITAT was right and within its jurisdiction in directing......
July 29, 2018 Case Laws Income Tax

Chit fund as not a money lending business - Tribunal treating moneys not paid by the prize chit winners as bad debts ? - relationship of creditor and debtor between the.....
July 29, 2018 Case Laws Income Tax

Violation of principles of the natural justice by the lower authority - reliance on the statement of employees - the statement is stated to have been recorded at the......
July 29, 2018 Case Laws Income Tax

Exemptions u/s 11 - Charitable activity - Merely because while carrying out the activities for the purpose of achieving the objects of the Trust, certain incidental......
July 29, 2018 Case Laws Income Tax

Exemption u/s 10(10C) claim in the revised return - When the Income Tax Department has the power to demand payment of tax, where there is a deficit, it is equally a......
July 29, 2018 Case Laws Income Tax

Approval u/s 80G(5) eligibility - applicant has not commenced significant charitable activity as per its objects - since there is no allegation of failure to fulfill the....
July 29, 2018 Case Laws Income Tax

MAT - book profit adjustments - the methodology adopted by the assessee to prioritise set off of unabsorbed loss regardless of unabsorbed depreciation being lower is not....
July 29, 2018 Case Laws Income Tax

CIT was not justified in invoking section 263 in holding that income from growing of mushroom is an agricultural income. However, no fault can be found with the order of....
July 29, 2018 Case Laws Central Excise

Valuation - inclusion of packing material supplied by customer in assessable value - in terms of section 4 read with Rule 6 of valuation Rules, 2000, the packing......
July 29, 2018 Case Laws Central Excise

Valuation - transmission towers - inclusion of value of nuts and bolts in assessable value - The transaction of the nuts and bolts is clearly a trading activity on which....
July 27, 2018 Notifications Customs

Seeks to exempt IGST calculated on the assessable value over and above the value (Pool in Price) at which Urea is sold by Department of Fertilizers to Fertilizer......
July 27, 2018 Notifications GST

Concessional rates of GST / IGST on specified handicraft items (5% or 12%) - New Notification no. 22/2018 -Integrated Tax (Rate)
July 27, 2018 Notifications GST

Refund of GST due to inverted rate of tax - removal of Fabric from negative list w.e.f. 1.8.2018 - amendments to the Notification 05/2017-Integrated Tax (Rate)
July 27, 2018 Notifications GST

Absolute exemption from GST on supply of goods - scope enlarged - Amendments to the Notification 02/2017-Integrated Tax (Rate)

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F: Transfer of ITC without filing ITC-02

F: assessment order

F: INTERMEDIARY SERVICES OR EXPORT SERVICES

H: Revision: Hospital receipts verified, partial refunds & fees paid subs...

F: ITC Issue in case of Acqusition of Company in Insolvency

H: Goods matched documents like e-way bill and invoices; detention order ...

H: Goods Inspection Matches E-Way Bill, Lack of Tax Evasion Intent Quashe...

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H: Sale-purchase loss disallowed unreasonably by tax officer, commercial ...

H: Building sale value can't determine depreciation; actual consideration...

H: Loan to equity conversion attracts income tax on excess share premium ...

H: Property purchase: Joint owners pay via banking channels before regist...

H: Tax exemption limit for leave encashment: Local authorities' employees...

H: Tax assessments beyond 6-year limit quashed, satisfaction note lacked ...

H: Cash found in lockers linked to temple trust and educational foundatio...

H: Microphone Tech Classification: Functionality Over Technology.

H: Exemption from Social Welfare Surcharge on duty-free imports via scrips.

H: Claim for performance pay not an operational debt under IBC; Multiple ...

A: Director Identification Number

A: No GST is applicable for the services provided by the Director under p...

A: Income Tax Act Revamp (Comprehensive Review): Status and Suggestion on...

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