Tax
GST Leviable On Export Of Pre-Packaged And Labelled Rice Upto 25 Kgs. To Foreign Buyer: AAR
The Andhra Pradesh Authority of Advance Ruling (AAR) has ruled that GST would be levied on the export of pre-packaged and labelled rice up to 25 kg to foreign buyers.The bench of K. Ravi Sankar and B. Lakshmi Narayana has observed that the ultimate buyer is not present and the commodity is being pre-packed for an unknown ultimate buyer. The buyer from the applicant is reselling the same...
Reversal Of Cenvat Credit In Respect Of Common Input Services Sufficient For Compliance With Cenvat Credit Rules, 2004: CESTAT
The Mumbai Bench of Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) has held that reversal of Cenvat credit in respect of common input services by the appellants is sufficient for compliance with the Cenvat Credit Rules, 2004.The bench of S.K. Mohanty (Judicial Member) and M.M. Parthiban (Technical Member) has observed that the appellants cannot be forced to avail of the option...
GSTN Issues Advisory On Enhanced E-Invoicing Initiatives And Launches Enhanced E-Invoice Portal
The Goods and Service Tax Networks (GSTN) have issued an advisory on enhanced e-invoicing initiatives and launched an enhanced e-invoice portal.The GSTN, on occasion of one year of successful going live with the additional five new IRP portals, the e-invoice master information portal, and the e-invoice QR Code Verifier app, announced the launch of the revamped e-invoice master information...
Mere Deduction Of TDS By Donor On Grants Would Not Disentitle The NGO From Sections 11 Exemption: Delhi High Court
The Delhi High Court has held that a mere deduction of TDS by a donor on grants would not disentitle the assessee-NGO from exemption under Section 11 of the Income Tax Act.The bench of Justice Yashwant Varma and Justice Purushaindra Kumar Kaurav, while allowing the petition, set aside the assessment order and held that the receipt of Rs. 5.90 crore shall not be treated as income and allowed...
Interest Paid On Loan Taken To Invest In Shares Of Subsidiary In Normal Course Of Business Activities Is Allowable Expenditure: Bombay High Court
The Bombay High Court has held that if an assessee for commercial expediency and in the normal course of its business activities takes loan to invest in shares of its subsidiary, the interest paid on these advances utilised is allowable expenditure under Section 36(1)(iii) of the Income Tax Act.The bench of Justice K. R. Shriram and Justice Neela Gokhale has observed that assessee had...
Change Of Opinion Does Not Constitute Justification For Assuming Income Chargeable To Tax ; Bombay High Court
The Bombay High Court has held that the reopening of the assessment was purely on the basis of a change of opinion of the AO from that held earlier during the course of assessment proceedings. The change of opinion does not constitute justification for assuming that income chargeable to tax has escaped assessment.The bench of Justice K. R. Shriram and Justice Dr. Neela Gokhale has observed...
Service Tax From 16.06.2005 to 26.07.2009 Not Leviable On Services Of Repair And Maintenance Of Roads: CESTAT
The Banglore Bench of Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) has held that service tax during the period from 16.06.2005 to 26.07.2009 is not leviable under maintenance and repair service in relation to the repair and maintenance of roads.The bench of D.M. Misra (Judicial Member) and R. Bhagya Devi (Technical Member) has relied on the judgments of Allahabad High Court...
Stamp Value As On Date Of Agreement Of Sale Of Property Has To Be Considered For Applicability Of Section 56(2)(vii)(b): ITAT
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has held that stamp value as on the date of agreement of sale of the property, in the year 2010 (i.e., Rs. 1.4 Cr), has to be considered for the applicability of Section 56(2)(vii)(b) of the Income Tax Act.The bench of Challa Nagendra Prasad (Judicial Member) and B. R. R. Kumar (Accountant Member) has deleted the addition of Rs. 40.45...
Yoga And Meditation Charges Are Subjected To Tax Under Kerala Tax On Luxuries Act: Kerala High Court
The Kerala High Court has held that yoga and meditation charges are subjected to tax under the Kerala Tax on Luxuries Act.The bench of Justice A. K. Jayasankaran Nambiar and Justice Kauser Edappagath has upheld the tribunal's ruling in which the tribunal differentiated between the incomes, allowing certain deductions for the cost of medicines and professional charges related to...
Mitsubishi Corporation Not Liable To Deduct TDS On Sum Which Was Not Chargeable To Tax In India: Delhi High Court
The Delhi High Court has held that the assessee, Mitsubishi Corporation, is not liable to deduct TDS under Section 195(1) of the Income Tax Act where the sum paid was not chargeable to tax in India.The bench of Justice Rajiv Shakdher has observed that the assessee could have taken recourse to the DTAAs qua the reformulated question since the provisions contained therein were more...
No GST Exemption On Pure Services Received By AIIMS From Vendors: AAR
The Telangana Authority of Advance Ruling (AAR) has ruled that All India Institute of Medical Sciences (AIIMS) can claim GST Exemption on pure services received from Vendors.The bench of S.V. Kasi Visweswara Rao and Sahil Inamdar has observed that the applicant is not the Central Government but a “Governmental Authority” as it is established by the Government by the Act of Parliament. The...
No Direct Nexus Between Renting Of Buildings To Municipalities & Article 243W, GST Applicable: AAR
The Telangana Authority of Advance Ruling (AAR) has ruled that GST is payable for providing renting services for buildings to the Government Social Welfare College Boys Hostel and in municipalities.The bench of S.V. Kasi Visweswara Rao and Sahil Inamdar has observed that the applicant is providing renting of buildings to GHMC and municipalities, and there is no direct relation between...