News Update

IMF team makes presentation on GST before FinComRuling is applicable within particular State only, therefore, questions relating to requirement of GST registration in another State is beyond jurisdiction: AARGST - ITC not available on goods and services used for setting up of Maintenance, Repair and Overhaul (MRO) facility: AARDeposit returned by GIDC along with interest to parties as per direction of Supreme Court since SEZ could not be set up due to people protest - compensation paid is 'supply of service' under Schedule II, clause 5(e) of GST Act; attracts tax liability: AAR Charges collected for entry into Municipal park as well as on ticket charges for Toy train, Pedal boat facility is chargeable to GST @18%: AAROn appeal, the High Court finds that both issues raised by the Revenue stand settled against the Revenue in different cases. Hence no substantial question of law arises for consideration.ITAT omitted to consider issue of limitation going into the root of the matter, merely because assessee filed no cross objection to Revenue's appeal - Matter remanded: HCOn appeal, the HC observed that since the assessee has entered appearance, formal service of notice stands dispensed with. The matter is listed under an appropriate heading for the purpose of final disposal of this appeal on the basis of the substantial questions of law.Where AO refuses to record comments on additional evidence submitted by assessee before the CIT(A), then AO cannot allege contravention of Rule 46A: HCST - For claiming Cenvat credit on cash vans, the claimant must be proved that such vans are capital goods & that such vans were registered in the claimant's name during period of dispute: CESTATPenalties imposed on importer & on CHA are upheld where both confessed to their respective roles in mis-declaring consignment of goods prohibited for import: CESTATCX - Allegation of availing fraudulent CENVAT credit without receipt of inputs - There is an entry at Information Collection Centre (ICC) of the State VAT which shows that the goods have passed through ICC and reached the factory of the assessee - credit cannot be denied: CESTATMumbai CGST seizes gold jewellery and precious stones worth Rs 25 Cr for illegal domestic movement through air channelIMF team makes presentation on GST before FinComMultistage selection process for admission to FTII & SRFTI introducedGovt reviews preparedness for Novel Corona VirusTwo Chinese travellers caught with 80 new phones at IGI AirportOver 115 billionaires to participate at Davos SummitChina’s Great Wall Motors to buy GM’ India plantDRI ADG case - CBI Court grants bailChina logs 6.1% growth in 2019 - slowest in 30 yrsUSA appeals to DSB against decision favouring India in Countervailing Duty on hot-rolled carbon steel flat productsUPSC announces results of Indian Forest Services Main ExaminationIndia issues travel advisory as infection with novel coronavirus reported from ChinaGST - Demo Motor Vehicles are capital goods used in course of furtherance of business - Tax paid on inward supply of Motor vehicle is available as ITC: AARIndia’s communication satellite GSAT-30 successfully launched from French GuianaJoyville Virar - Building completion and finishing services will not be regarded as separate services but are a part of composite supply of WCS with principal supply of building construction - concessional rate @12% on pro-rata basis in respect of low cost houses: AARGST - Benefit of concessional rate of tax @12% in respect of low cost houses would also be available in respect of Society formation charges, Club house development charges, Legal Service Charges etc. which are collected from buyers of such 'low cost houses': AARNIC sets up 'Centre of Excellence in Blockchain Technology'


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