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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
 
GST Council gives nod to New GST Return; takeover of GSTN by Govts; GoMs for sugar cess & incentive for digital payments

 

By TIOL News Service

NEW DELHI, MAY 04, 2018: THE GST Council at its latest meeting through video conferencing today took several critical decisions pending for long. It has approved the simplified format of GST Return - known as the Fusion Model. The new return will take minimum six months to go online. And it would require the businesses to upload Sales invoices and also claim PROVISIONAL credit which is to be reconciled over a period of six months. And do so, the buyers would be talking to sellers to upload their missing invoices and once the same is done, it would get reconciled with the provisional credit taken. And such a process would be required to be completed over a period of six months for making it final reconciliation for the credit purpose. In other words, the GST taxpayers are heading for another round of transition phase which would take another one year to settle down.

Meanwhile, the Council has decided to extend the validity of GSTR-3B for another six months. In other words, the CODING of new format would take six months and if it takes more time, the GSTR-3B would continue to be in existence till such time the new GSTR is designed and tested.

The GST Counci also took a decision to take over the GSTN by acquiring 100% equity. And once it is done, the equity would be divided between the Centre and the States as per the ratio of revenue collections. However, the GSTN would be allowed to hire talents from the market for carrying on its necessary operations at attractive terms and conditions.

The Council also decided to set up a Committee of five State Finance Ministers who would discuss and suggest possible measures to raise funds in circumstances of contingencies. Such a decision was taken in the background of the propsal to levy CESS on sugar in order to compensate cane farmers in distress. Though the decision on imposition of sugar cess stands deferred but a mechanism is going to be worked out to raise additional funds to meet any sort of contigencies. And one of the debated measures was to hike the present tax rate to achieve the purpose.

Another Group of Ministers is going to be set up to crystallise divergent views on the proposal to incentivise Digital Payments. Certain States did not favour it. But the majority voted in its favour. A few States proposed tailoring of negative list of transactions which would not be entitled to any incentive. However, the initial proposal was to give an incentive of Rs 100 per voucher if 100% amount is paid in a transaction through any digital mode.

The Council also expressed its happiness over the improvement in revenue collections and hoped that it would grow further.


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