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Cus - Export of non-basmati rice - Notification 20/2023 insofar as it denies the benefit of the transitional arrangement as contained in para-1.05 of the FTP 2023, is bad in law: HCCus - Refund of SAD - 102/2007-Cus - Areca Nut and Supari are one and the same - Objections with regard to name, nature and status of importer or buyers or the end use of goods purchased by them etc. are extraneous: HCCX - Interest on Refund - Since wrong order annexed by petitioner in paper book, Bench is unable to proceed further - Petition is dismissed with liberty to file a fresh one: HCGST - No E-way bill - When petitioner imports machinery and after Customs clearance, transports same to his own factory, it cannot be said that such a transportation would fall within the definition of term 'supply' - Penalty imposable under second limb of s.129(1)(a): HCGST - Fix responsibility on officers who allowed BG to lapse - Petitioner not justified in not renewing BG - Cost of Rs.15 lacs imposed, to be paid to PM Cares Fund: HCGST - Since the parties agree that petition can be disposed of on the basis of records available before Appellate Authority, petitioner is directed to enclose all documents filed before Appellate Authority in a compilation, in form of a paper book: HCWrong RoadST - Whether any service is used for personal consumption or not is certainly question of fact and being question of fact, no substantial question of law arises: HCGovt proposes to amend Geographical Indication of Goods Rules; Draft issued for feedbackST - If what has been paid as tax is without authority of law, Revenue should refund the same - Denial of credit would result in the whole exercise being tax neutral: HCWarehousing Authority notifies several agri goods to be stored in only registered warehousesST - Even if the petitioner may have a case on merits, it is best left to be decided by the Appellate Authority under the hierarchy prescribed under the FA, 1994: HCUS FDA okays Eli Lilly Alzheimer’s drugGST - Petitioner challenges jurisdiction of assessing officer - Petitioner is entitled to file an appeal u/s 107 by availing an alternate efficacious remedy: HCFive from Telangana killed in car accident on Pune-Solapur HighwayGST - Existence of an alternative remedy is a material consideration but not a bar to the exercise of jurisdiction: HCHush money case against Donald Trump - Sentencing deferred to Sept 18GST - It is open to a trader to take goods by whichever route he opts, unless the law otherwise requires, destination point being intact: HCDeadly hurricane Beryl smashes properties in JamaicaGST - Conclusion that taxable person is providing a service to supplier while taking the benefit of a discount by facilitating an increase in the volume of sales of such supplier is ex facie erroneous and contrary to the fundamental tenets of GST law: HCIsrael claims 900 militants killed in Rafah since May monthGST - Order expressly records that personal hearing notice was returned with endorsement 'no such person at address' - Since petitioner has shifted to a new premises, it is just and necessary to provide an opportunity to contest demand: HC116 die in stampede at UP ’Satsang’I-T- Application for revision of order dismissed in limine on grounds of delay; case remanded for re-consideration: HCWe are deepening economic ties with India, says US officialI-T- As per Section 119(2)(b), power to condone applications relate to claims for amount exceeding Rs 50 lakhs are to be considered by CBDT; however it is impermissible for CBDT to pass order on merits: HC8 Dutch engineers build world’s longest bicycle - 180 feet, 11 inchesI-T- Additions framed u/s 68 for unexplained income & u/s 69 for unexplained expenditure not tenable where complete transactional details are furnished & not doubted: HCRailways earns Rs 14798 Crore from Freight loading in June monthI-T- Delay in filing ITR is per se insufficient reason to estimate assessee's profit @15% on turnover, more so where audited financial report is filed in timely manner: ITATMoD inks MoU to set up testing facilities in Unmanned Aerial System in TN Defence Industrial CorridorI-T- For invoking section 69A, assessee should be found to be owner of any money, bullion, jewellery or other valuable article & which is not recorded in the books of account: ITATGovt proposes Guidelines for ethical approach to Coal MiningI-T- TDS credit can be allowed based on AIS, where details pertaining to TDS, advance tax & other payments are reflected in Form 26AS: ITATVaishnaw to inaugurate Global IndiaAI Summit 2024I-T- Lending money with the primary intention of earning interest can be considered a business activity, but nature and manner of lending, as well as the frequency, should be taken into account: ITAT
 
Relief, Relief & Relief granted to GST taxpayers

By TIOL News Service

NEW DELHI, OCT 06, 2017: ALONG the expected lines, the GST Council at its 22nd meeting here at Vigyan Bhawan in New Delhi today, decided to grant mega relief to small taxpayers and also large assessees. First, the Council has decided to suspend the provisions of Section 9(4) of the CGST Act which brings into play the Reverse Charge Mechanism in case of supplies received from unregistered suppliers. The Council also decided to defer the implementation of TDS, TCS & e-Way Bill. Responding to represetnations, it also decided to reduce tax rates on many items and services including Govt contracts involving more of labour. It also granted relief to the vehicle leasing sector by reducing tax rate.

A mega relief has been granted to the assessees falling under the sweep of the Composition Scheme. First, the threshold of this scheme has been increased from Rs 75 lakhs to Rs one crore. This will bring in more small traders and SMEs under its ambit. To grant further relief, the Council today decided to set up a Five-Member Ministerial Committee to look into the possibility to allow Input Tax Credit (ITC) under this Scheme. Another mandate of this Committee is going to be to examine the possibility of extending inter-state supply facility under this scheme. This panel will also examine whether total turnover should also include receipt from exempted goods. The Panel will also study the taxation system applicable to restaurants and hotels including the ITC benefits which are not being passed on to consumers. Panel will submit its report within two weeks.

While briefing the media, the Union Finance Minister, Mr Arun Jaitely, said that about 16 lakh taxpayers have less than Rs one crore turnover and they come under the Composition Scheme. The two months data with the GSTN has revealed that the Exchequer has garnered above 95% revenue from large taxpayers.

For small manufacturers upto the turnover of Rs 1.5 Crore, the Council has decided to make it quarterly return-filing to ease their burden from monthly return-filing. In this regard, Bihar Dy Chief Minister Sushil Modi today tweeted that above 65% of taxpayers in Bihar are below Rs 1.5 crore turnover and they would stand benefited in a big way. These taxpayers contribute only 5% of the total tax collections in Bihar, he adds.

For the exporting community, the Council has decided to disburse refund of taxes paid from October 10 for the month of July and from October 18 for the month of August. The refund would be done through cheques and also through cross-empowernment of State and Central officials. As a long-term solution, the Council has decided to create an e-wallet account facility for each exporter and refund is to be credited to such accounts in advance and once refund is sanctioned, the same is to be adjusted against the same. This facility is likely to be made operational from March 1, 2018.

For the merchant exporters, the Council has decided to reduce the tax rate to 0.1% for making exporters.

The Council has also decided to defer implementation of E-Way Bill system to April 1, 2018. The Union Finance Minister also mentioned that the State of Karnataka has implemented this system and has collected good experience. Other States are going to replicate the same and that is why some time is being given to all to implement it from April 1, 2018.

Similarly, the Council has decided to defer the implementation of TDS and TCS to April 1, 2018. The requirement of tax on advance has also been dispensed with for the taxpayers upto Rs 1.5 Crore. The Council has also decided to reduce the tax rates on 27 goods and certain services such as khakra, unbranded namkeen, dried mango, unbranded Ayurvedic medicines, rubber & paper waste, man-made yarn, stones other than marble & granite, diesel parts, pumps parts, e-waste plus services like jobwork in imitation jewellery, painting & others.

 

 

 


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