Tax
CBIC Allow Transhipment Of Containerized Export Goods Of Bangladesh Through India Using Riverine And Rail Routes
The Central Board of Indirect Taxes (CBIC)has allowed transhipment of containerized export goods of Bangladesh through India using riverine and rail routes.The Board has received representations from trade to provide a similar transhipment facility to Bangladesh's export cargo through India using a combination of waterways and land routes. It has been suggested to allow export goods...
Supply Of Services For Printing On Duplex Board Attracts 12% GST: AAR
The West Bengal Authority of Advance Ruling (AAR) has held that the supply of services for printing on duplex board belonging to the recipient, including cutting, punching, and lamination of the duplex board, so printed, would attract 12% GST irrespective of whether the recipient of the services is registered under the GST Act or not. The two-member bench of Brajesh Kumar Singh and...
Onus To Prove Charge Of Clandestine Clearance Of Goods Lies On The Department: CESTAT
The Kolkata bench of the Customs, Excise and Service Tax Appellate Tribunal (CESTAT) has held that the onus to prove a charge of clandestine clearance of goods lies with the department.The two-member bench, P.K. Choudhary (Judicial Member) and Raju (Technical Member), have held that the charge of clandestine clearance of goods is a serious charge and cannot be made on...
NIC Issues Changes In Functionalities With Respect To E-Waybill For Gold
The National Informatics Centre (NIC) has issued changes in the functionalities with respect to e-Way Bill generation for the movement of gold.As per the government recommendation, E-Way Bill generation has been provisioned for the movement of gold (HSN Chapter 71) for all intrastate and interstate transactions. The taxpayers of the state may generate the E-Waybill for Gold as per...
ITR Prior To Death Of Assessee Is The Basis For Computation Of Loss Of Future Income Including Future Prospects: Gujarat High Court
The Gujarat High Court has held that an income tax return (ITR) filed prior to the death of the assessee is the basis for computation of loss of future income, including future prospects. The single bench of Justice Gita Gopi has observed that both the parents are dependents of the deceased son and are entitled to apply for compensation. Both the parents are entitled to...
Betel Nuts Are Subject To Decay, Not Required For Investigation: Gauhati High Court Directs To Release
The Gauhati High Court has directed the release of seized betel nuts as the betel nuts are subject to speedy natural decay and their retention was not required for the purpose of investigation.The single bench of Justice Robin Phukan has observed that from the date of seizure till date, more than 128 days have already elapsed. There was no allegation of theft in respect of the seized...
Tamil Nadu GST Dept. Prescribes Manner Of Re-credit Of Amount In Electronic Credit Ledger
The Tamil Nadu GST Department has notified the procedure for re-crediting the amount in the electronic credit ledger using FORM GST PMT-03A.If the refund has been sanctioned erroneously, recredit of that amount can be done via Form GST PMT-03A in the electronic credit ledger, along with the interest and penalty paid by the taxpayer. The taxpayer faced difficulties in taking credit...
Invalid Reassessment Notice, The Entire Proceedings have To Collapse: Calcutta High Court
The Calcutta High Court has held that the foundation of a reassessment proceeding is a valid notice, and if the notice is held to be invalid, the entire edifice sought to be raised has to collapse.The division bench of T.S. Sivagnanam and Justice Hiranmay Bhattacharyya have observed that the assessing officer is bound to furnish reasons within a reasonable time, the noticee is entitled...
Housing Credit To Poor Through Borrowings From Financial Institutions; Not A Charitable Activity: ITAT
The Chennai Bench of the Income Tax Appellate Tribunal (ITAT) has ruled that grant of housing credit by the assessee trust to the lower strata of society, financed solely through the funds borrowed from financial institutions, is not a charitable activity and thus the assessee cannot be registered as a Charitable Trust under Section 12AA of the Income Tax Act, 1961. The Bench of...
Seller Of Agricultural Land Insisting Cash Payment; No Disallowance Can Be Made Under Section 40A (3) Of IT Act: ITAT
The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) has ruled that no disallowances can be made under Section 40A (3) of the Income Tax Act, 1961 for payments made otherwise than by way of account payee cheques or bank drafts for purchase of agricultural land, where the seller of the agricultural land has insisted on payment in cash. The Bench of Saktijit Dey (Judicial Member)...
DGFT Extends Last Date For Uploading e-BRC Where ROSCTL Scrips Have Been Issued For Shipping Bills
The Director General of Foreign Trade (DGFT) has extended the deadline for uploading all such Electronic Bank Realisation Certificates (e-BRCs) for shipping bills where Rebate of State and Central Taxes and Levies (ROSCTL) scrips have been issued until September 30, 2022. As per the Trade Notice dated May 30, 2022, the exporting community was requested to get the relevant e-BRCs...
"Flavoured Milk" Is Categorised As "Beverage": AAAR
The Gujarat Appellate Authority of Advance Ruling (AAAR) has observed that the 'flavoured milk' is categorised as "beverage".The two-member bench of Vivek Ranjan and Milind Torawane has upheld the AAR's ruling and ruled that the 'Flavoured Milk' is classifiable under Tariff Item 2202 99 30 of the First Schedule of the Customs Tariff Act, 1975. The appellant is in the...