Home Highlights January 2018 Year 2018 This

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1. Levy of GST - Forward Charge Mechanism (FCM) or Reverse Charge Mechanism - Service Received by a registered person by way of renting of residential premises used as...

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

3. Waiver of demurrage charges - The period during confiscation, charges have been waived, therefore, for the remaining period the petitioner is duty bound to pay the duty...

4. Liability to pay customs duty when confiscated goods are redeemed after payment of fine u/s 125 of the Customs Act, 1962 includes liability to pay interest on delayed...

5. Timelines for disposing applications by trusts, funds, or institutions seeking registration for exemption u/s 12AB or approval u/s 80G are rationalized. Applications...

6. Deemed dividend - The expression "shareholder being a person who is the beneficial owner of shares" referred to in the first limb of Section 2(22)(e) refers to both a...

7. Nature of Duty Paid by 100% Export Oriented Units (EOU) - The CESTAT held that while the measure adopted for computing duty paid by 100% EOUs may be based on customs...

8. The circular issued by SEBI on charges levied by Market Infrastructure Institutions (MIIs) emphasizes the need for transparent and fair access to all market participants....

9. Reversal of CENVAT Credit - the object of both the provisions is clear and the only difference is that Chapter X uses the word “remission” of duty on excisable goods”...

10. Rejection of refund claim - The Tribunal observed that a pre-notice consultation was issued to the appellant, who responded by paying the demanded duty and interest. As...

11. TDS u/s 195 - payment to abroad (USA / UK) of communication charges, commission charges, legal and professional charges, marketing & selling charges and business...

12. Construction of residential complex - It appeared to Revenue that the appellant is also collecting one time Preferential Location Charges, Car Parking Charges, Club...

13. Entitled to registration u/s 12AA and approval under Section 80G - Allegation of charging higher rate of interest from the self help groups in the name of charitable...

14. Speed post versus Registered post - Speed Post has all the principal attributes of registered post - HC

15. Seeks to prescribe rates of Special Additional Excise Duty for exports of petrol and diesel - Notification