Vague Arrest Memo, Allahabad High Court Grants Bail To Accused In Fake GST ITC Worth Rs.88 Crores

The Allahabad High Court has granted bail to the person allegedly involved in the creation of 92 fake GST Forms and the passing of fake Input Tax credits (ITC) to the tune of Rs. 88 crore.The bench of Chief Justice Pritinker Diwaker and Justice Ashutosh Srivastava has observed that even in the arrest memo, the Department is not sure as to what offence has been committed by the petitioner,...

Delhi High Court Excludes Comparable On Grounds Of Functional Dissimilarity & Amalgamation

The Delhi High Court has held that the Software Development Services offered by TCS International could not be used as a comparable since the assessee was in the business of Indian Information technology-enabled services (ITES) or business process outsourcing (BPO).The division bench of Justice Rajiv Shakdher and Justice Tara Vitasta Ganju has observed that TCS International is in the business...

12% GST Payable On ‘Solar Home Lighting System’: AAR

The Uttar Pradesh Authority of Advance Ruling (AAR) has held that 12% GST is payable on solar home lighting systems.The bench of Rajendra Kumar and Harilal Prajapati has observed that ‘solar home lighting systems are classified as solar-based devices covered under HSN Code 94055040.The applicant intends to supply a solar home lighting system consisting of Solar photovoltaic Modules, a...

No Excise Duty Applicable On Residual Fuel Gas Cleared By Haldia Petrochemicals: CESTAT

The Kolkata Bench of the Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) has held that no excise duty is applicable on Residual Fuel Gas (RFG) cleared by Haldia Petrochemicals.The bench of P.K. Choudhary (Judicial Member) and K. Anpazhakan (Technical Member) has quashed the demand for excise duty on intermediate excisable goods, i.e., Residual Fuel Gas (RFG), which was cleared by...

Plastic Waste Management Falls Under Preservation Of Environment: ITAT Allows Income Tax Exemption

The Chandigarh Bench of the Income Tax Appellate Tribunal (ITAT) has allowed the Income Tax exemption for the Punjab Plastic Waste Management Society and observed that plastic waste management falls under the preservation of the environment.The bench of A.D. Jain (Vice President) And Vikram Singh Yadav (Accountant Member) has quashed the order of the Commissioner of Income Tax...

J&K Roads Development Agency Is Exempted From TDS Deduction On TD Account Interest: Jammu & Kashmir High Court

The Jammu & Kashmir High Court has held that the J&K State Rural Roads Development Agency (JKSRRDA) is exempt from TDS deduction on interest income accrued on Term Deposit Accounts.The bench of Justice Sanjeev Kumar and Justice Puneet Gupta has observed that JKSRRDA is a society registered under the J&K Societies Registration Act, 1998, and is a body wholly financed by the...

Excess Claim Of Depreciation By Axis Bank, Voluntary Surrendered, No Case For Penalty: Gujarat High Court

The Gujarat High Court has held that the department has failed to establish that there was concealment of particulars of the income of the assessee, Axis Bank. The department has also failed to establish that the assessee furnished inaccurate particulars of its income.The bench of Justice Vipul M. Pancholi and Justice D. M. Desai has upheld the ruling of the Income Tax Appellate Tribunal...

Gujarat AAR Rules It Lacks Jurisdiction On Supply of Goods And Services Matter in Madhya Pradesh

The Gujarat Authority for Advance Rulings (AAR) has ruled that it does not have jurisdiction to rule on a matter involving a supply of goods and services in Madhya Pradesh. The ruling was made in the case of Pooja Construction Co., which had sought an advance ruling on whether it was required to obtain registration with the State Tax Authorities of Madhya Pradesh. M/s....

Veterinary Instruments "AI Crate/Travis" Classified Under TI 7306, GST Applicable At 18%: GAAR

In a significant development, the Gujarat Authority Of Advance Ruling (GAAR) Bench has provided clarity on the classification and tax rate applicable to the veterinary instrument known as "AI Crate" or "Artificial Insemination Crate/Travis." The ruling comes in response to an application filed by Kantaben Rameshbhai Chaudhari, Krishna Enterprises, engaged in the manufacture of...

Education Provided By Isha Yoga Center Ineligible For GST Exemption: AAR Karnataka

In a recent ruling, the Karnataka Authority For Advance Ruling bench has held that the education provided by Isha Yoga Center's residential school, Isha Samskriti, does not qualify for exemption under the Goods and Services Tax (GST) laws. The ruling came in response to an application filed by Isha Yoga Center seeking clarification on the applicability of GST exemption to its...

CBDT Amends Income Tax Rules 1962 In View Of IFSC Related Proposals In Finance Act 2023

The Central Board of Direct Taxes (CBDT) vide notification no. G.S.R. 514(E) published on 17th July 2023 has amended the Income Tax Rules, 1962 in view of IFSC Related Proposals in Finance Act 2023. The new amendment may be called as Income-tax (Twelfth Amendment) Rules, 2023. The amendment was made by CBDT in exercise of the powers conferred by clause (i) of sub-section...

Mere Pendency Of An Appeal Would Not Detract From The Excise Duty Refund Demand: Delhi High Court

The Delhi High Court has held that the mere pendency of an appeal or an order of stay that may operate would not detract from the obligation of any person claiming a refund to make an application within the period prescribed and computed with reference to the "relevant date"."We do so observe in light of the indubitable principle that an order of stay that may operate in an appeal does not...