Home Highlights August 2017 Year 2017 This

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1. Related companies – TP rules may apply to domestic operations – SC sends suggestions to Central Government

2. Attachment of Bank Accounts of petitioner for recovery of GST of third party - the bank accounts of ZIPL cannot be attached for securing the revenue of another taxable...

3. Non furnishing of Bank Account details may lead to cancellation of GST Registration (4th condition added) - Rule 21 of the Central Goods and Services Tax Rules, 2017

4. The High Court held that the petitioner is entitled to refund of unutilized Input Tax Credit (ITC) on export of goods u/s 16(3) of the Integrated Goods and Services Tax...

5. Additions towards bogus purchases - Non genuine purchases of fabric made by the appellant - Opening of the bank account by the suppliers in the same bank in which...

6. Interim direction to allow the petitioner to operate its bank account - siphoning off of funds while CIRP proceedings are ongoing - unfreezing of attached Bank Accounts...

7. Misuse of the power - Jurisdiction of GST officer for attaching and withdrawing amount from bank account of the assessee - The concerned officer who instructed the bank...

8. Disallowance u/s 40A(3) - depositing cash in bank account of supplier - the purpose of Section 40A(3), is only preventive and to check tax evasions and flow of...

9. Provisional attachment of Bank accounts of petitioner - despite of due service to the bank the bank has chosen not to remain present - being a drastic power, the...

10. Addition made u/s 153A on account of undisclosed foreign bank account and interest income thereon - assessee confronted with client profiles from HSBC Bank showing...

11. Central Government hereby notifies the Common Application Form for the purpose of registration, opening of bank and demat accounts, and application for Permanent Account...

12. Addition u/s 40A(3) - direct despot of cash in the bank account of the supplier - supplier acknowledged credited the said cash receipts in the ledger account of the...

13. The court held that the petitioner-bank's registered security interest with CERSAI, dated 17th March 2017, has priority over the dues claimed by the GST and Sales Tax...

14. Seeking lifting of attachment on Bank Accounts of Directors - recovery of dues of the company, while the bank accounts of Directors were attached - The attachment on the...

15. Drawback recovery case involving third-party payments for export transactions. Petitioner contended payments made to local supplier through banking channels, evident...