Home Highlights January 2014 Year 2014 This

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1. Fall in GP rate - increase in cost of purchase - 95% of sales were made to related parties - Since no explanation was offered by the assessee before the AO regarding...

2. Availability of concessional rate of GST - works contracts - the works contract executed by the applicant for construction of Administrative building for TSIIC falls...

3. GST Rates - HSN Code - Khari and hard butters fall under heading 1905 and attract 18% GST

4. GST Rates - HSN Code - Filters or Water Purifiers fall under heading 8421 and attract 18% GST.

5. Estimation of income - Rate of Gross profit (GP) - rejection of books of account - Since the average of past history of GP declared by the assessee is considered as a...

6. The works rendered by the applicant involving application of polymer protective coating for bridges, as part of construction or routine maintenance/renovation, falls...

7. Valuation - inclusion of discount in assessable value - Either the Assessing Officer could have added on the discount to the returned turnover or taxed the estimated...

8. Trading addition – rejection of books of accounts and application of higher G.P. rate – even after the rejection of books of account, no trading addition is required to...

9. Zero Rate Tax - Supply of goods to SEZ - TN-VAT - Section 18 of the TNVAT Act, confers two benefits viz., Zero Rate i.e., sale on which no tax is payable but on which...

10. GST Rates - HSN Code - Structures of iron or steel fall under heading 7308 and structures of aluminium fall under heading 7610 and attract 18% GST. - Solar Panel...

11. Online Module for Filing & Tracking Quality Complaints/Trade Disputes relating to International Trade

12. The case involves bogus purchases u/s 69C, with the assessee dealing in bullion. The Gross Profit (GP) rate estimation is crucial. The assessee argued that the GP rate...

13. Assessee's unaccounted sales were estimated based on notebooks, diaries, and WhatsApp conversations. Only real income can be taxed. While unaccounted sales existed,...

14. The transportation of coal (minerals) within a mining area, such as from the mining pit head or coal stockyard to the railway siding or beneficiation plant, for a...

15. GST rates on supply of affordable and non-affordable residential apartments in a real estate project (REP) are 1.5% and 7.5% respectively, while commercial apartments...