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The Pune bench of the Income Tax Appellate Tribunal (ITAT) ruled that tax penalty u/s 271 would not be imposed in the absence of applicable records for the incorrect particulars. The company of the petitioner is engaged in the business manufacturing and the sale of the chemicals. The income tax return was furnished on the […]
The architecture and heads of the GST council stay unchanged even after the Supreme courts ruling, three officials linked with the indirect tax regime specified that the council might learn the observations in its subsequent meeting. The apex court specified that the suggestions of GST officials were not binding on either the Union government or […]
The way to run an e-Commerce industry will be effective through benchmarked logistics. To fulfil the need for transportation across states, eCommerce companies would lay on the logistic service providers to fulfil the need for transportation within the states. Customer satisfaction concerning the e-commerce business is been derived from logistics. While some e-commerce firms handle […]
“The law of income tax is enriching. As intriguing as it is, the more one learns, the more he seeks to learn” In the former articles, we discussed the income tax law and now wrote an article concerning the ancillary provisions as included in the Income Tax Act, of 1961 itself. The same act consists […]
As per the provisions of section 54 of the CGST act, no GST refund of the unlisted ITC will be permitted in cases other than the i. Zero-rated supply made without payment of tax; ii. In which the credit has been collected on the basis of the tax rate on the inputs more than the […]
Telangana State Authority for Advance Ruling (AAR) said that the liquidated damages and penalties obtained via the petitioner because of the breach of the conditions of the contract from the contractor are subjected to tax beneath the CGST and the SGST acts. The petitioner, M/s. the Singareni Collieries ltd asks for penalties, and the liquidated […]
The Maharashtra Authority of Advance Ruling (AAR) which consists of the members Ranji Magoo and T.R. Ramnani, has directed that the GST would be subjected to pay upon the composite supply of work contracts consisting of earthwork. The petitioner is the owner of M/s. Mahalakshmi BT Patil Honai Constructions JV, a GST registered company, which […]
The Karnataka Authority of Advance Ruling ( AAR ) ruled that the transaction value is the taxable value of supply unless cancelled and revealed beneath section 15 Goods and services tax act. The petitioner M/s Pankaj Enterprises is an individual and has no enrolment beneath GST, however, he poses to execute the business as a […]
The Maharashtra legislature passed a bill to furnish for the settlement of the arrears of tax, interest, penalty, or late fee that were subjected to pay beneath acts before the execution of GST. Finance minister Ajit Pawar mentioned that this action will provide an advantage to the small industries, traders, and other dealers who have […]
