Tax
Payment On One-Time Premium/Aalami Can't Be Charged To Service Tax Under Renting Of Immovable Property: CESTAT
The Ahmedabad Bench of the Customs, Excise and Service Tax Appellate Tribunal (CESTAT) has held that the payment of a one-time premium or salami cannot be charged to service tax under the heading "renting of immovable property service."The two-member bench of Ramesh Nair (judicial member) and Raju (technical member) has observed that service tax under Section 65(105)(zzzz) read with...
No Service Tax Payable On Security Deposit Taken From Customers Towards Trading Of Shares: CESTAT
The Ahmedabad Bench of the Customs, Excise and Service Tax Appellate Tribunal (CESTAT) has held that service tax is not payable on security deposits taken from customers towards the trading of shares.The two-member bench of Ramesh Nair (judicial member) and Raju (technical member) has observed that the amount is refundable and was towards security deposits and was not for the purpose of...
Cost Of The Diesel For Providing DG Set Rental Service Attracts 18% GST: Uttarakhand AAR
The Uttarakhand Authority of Advance Ruling (AAR) has ruled that 18% GST is applicable on the cost of the diesel incurred for running diesel generators (DG) in the course of providing DG rental service.The two-member bench of Anurag Mishra and Rameshwar Meena has observed that consideration for reimbursement of expenses, such as the cost of the diesel for running the DG set, is nothing but...
No Service Tax Payable On Sale Of Ready-Mix-Concrete: CESTAT
The Ahmedabad Bench of the Customs, Excise and Service Tax Appellate Tribunal (CESTAT) has held that the entire exercise is the sale of ready-mixed concrete (RMC) and there is no service element involved so as to create service tax liability against the assessee.The two-member bench of Ramesh Nair (judicial member) and Raju (technical member) has observed that the department has very...
Service Tax Under RCM For Works Contract Service Not Applicable on Corporate Assesses: CESTAT
The Kolkata Bench of the Customs, Excise, and Service Tax Appellate Tribunal (CESTAT), consisting of P.K. Chaudhary (Judicial Member), has held that the notification levying service tax under the reverse charge mechanism (RCM) for works contract service shall be applicable only to individuals, partnership firms, and Hindu Undivided Families (HUF), and not to corporate...
Reassessment Powers Could Not Be used For Reverification Or For A Rowing Inquiry: Gujarat High Court
The Gujarat High Court has held that the reassessment powers could not be exercised either for the purpose of reverification or to have a merry sailing for a rowing inquiry.The division bench of Justice N.V. Anjaria and Justice Bhargav D. Karia has observed that the assessing officer wanted to undertake a fishing inquiry in relation to an issue about which he had already solicited information...
Supreme Court Dismisses Department's SLP Against HC Decision Holding That Entrance Fees Received By Club From Its Member Is Capital Receipts
The Supreme Court bench of Chief Justice of India, Justice D.Y. Chandrachud, and Justice Hima Kohli has dismissed the special leave petition of the department challenging the decision of the Bombay High Court. The Bombay High Court has held that any sum paid by a member of a club to acquire the rights of a club is a capital receipt and not a revenue receipt.The assessee or respondent runs...
Notification Granting IGST Exemption To Capital Goods Imported Under EPCG scheme Is Clarificatory, Curative: Bombay High Court
The Bombay High Court has held that notification no. 79/2017-Customs dated October 13, 2017, amending notification no. 16/2015-Customs and granting exemption from the IGST to the capital goods imported under the Export Promotion Capital Goods Scheme (EPCG Scheme) is clarifying and curative.The division bench of Justice K.R. Sriram and Justice Arif S. Doctor has directed the department to...
Delhi High Court Quashes Assessment Order Passed Without Issuing Draft Assessment Order
The Delhi High Court has quashed the assessment order passed without issuing a show cause notice or a draft assessment order which has been mandated under Section 144B(1)(xvi)(b) of the Income Tax Act.The division bench of Justice Manmohan and Justice Navin Chawla has directed the department to issue a show-cause notice within four weeks.The petitioner/assessee stated that the assessment...
Income Tax Assessment made by a non-jurisdictional officer is void: Kolkata ITAT
The Kolkata Income Tax Appellate Tribunal (ITAT) has held that the income tax assessment made by a non-jurisdictional officer is null and void.The two-member bench of Sonjoy Sarma (Judicial Member) and Rajesh Kumar (Accountant Member) has observed that in the case of a non-corporate assessee in non-metro cities, the ITR filed up to Rs. 15 lacs has to be assessed by ITO. Therefore, the...
Deposit in Electronic Cash Ledger prior to due date of filing of GSTR-3B return does not discharge tax liability: Jharkhand High Court
The Jharkhand High Court has ruled that any deposit in the electronic cash ledger prior to the due date for filing the GSTR 3B return does not amount to a discharge of the registered person's tax liability.The division bench of Justice Aparesh Kumar Singh and Justice Deepak Roshan observed that an electronic cash ledger is just an e-wallet where cash can be deposited at any time by creating...
GST Payable On Medical insurance premium for employees and pensioners: Telangana AAAR
The Telangana Appellate Authority of Advance Ruling (AAAR) has ruled that no GST exemption is available on medical insurance premiums taken to provide health insurance to employees, pensioners, and their family members.The two-member bench of Neetu Prasad and B.V. Siva Naga Kumari has observed that the insurance services for employees and employees' family members received by the appellant...