In the case of Shal by Limited, AAR Gujarat held that the medicines, consumables and implants used in the course of providing l health care services to in-patients for diagnosis or treatment for patient opting with or without packages along with allied services i.e. (room rent/ food/ doctor fees Etc.) provided by hospital is a […]
Posted inTC
CBDT Notifies IIT Bhilai for the Purpose of Section 35 of the Income Tax Act Read With Rule 5C and 5E of the Income Tax Rules
The Central Board of Direct Taxes (CBDT) notified the M/s Indian Institute of Technology (IIT), Bhilai for Scientific Research and Research in Social Science and Statistical Research for the purposes of clauses (ii) and (iii) of sub-section (1) of section 35 of the Income-tax Act, 1961 read with rules 5C and 5E of the Income-tax […]
Posted inJUDGEMENT
Trelleborg Marine Systems India Pvt Ltd- AAR Gujarat
Query: Classification and rate of tax leviable on Bollards, Bolts (fixtures), Nuts (fixtures), Screw (fixtures), Washer (fixtures), Frontal Frames, Fascia Pads – UHMW PE pads, Buoys, Chains, Swivel/D-Shackle/ Chain tensioner and Rubber Fender (both types). Ruling: Please Click Here to Download the Order.
Posted inJUDGEMENT
Aristo Bullion Pvt Ltd- AAR Gujarat
Query: Can the applicant use Input Tax Credit Balance available in the Electronic Credit Ledger legimately earned on the inputs/raw-materials/inward supplies (meant for outward supply of Bullions) towards the GST liability on ‘Castor Oil Seed’ which were procured from Agriculturists and subsequently meant for onward supply? Ruling: The applicant cannot use the Input Tax Credit […]
Posted inJUDGEMENT
A.T.E. Enterprises Pvt Ltd vs Union of India & Others- Bombay High Court
Bombay HC (Division Bench) today presided over matter pertaining to constitutional validity of Section 13(8)(b) dealing with ‘place of supply’ in case of ‘Intermediary service’; While Justice Ujjal Bhuyan held 13(8)(b) of the IGST Act to be ultra vires besides being unconstitutional, Justice Ahuja likely to pronounce a differing view on June 16, 2021. Bombay […]
Posted inINCOME TAX
FAQs on Registering DSC on New Income Tax E-filing Portal
The Income Tax Department has released a set of FAQs on registering DSC on new Income Tax E-filing Portal. The FAQs are attached in the below pictures: The department has also released a guidance video which can be viewed by Clicking Here
Posted inGST
Relief to GST Taxpayers Regarding Late Fees for Delay in Filing GSTR-3B Returns
The Government, vide Notification No. 19/2021, dated 1st June, 2021, inter alia, has waived the late fee payable, in excess of amount as specified in the Tables, as given below: (Note: Please refer to respective State/UT Notifications for waiver of State/UT tax). For the registered persons who have failed to furnish the return in FORM GSTR-3B, for the months /quarter of […]
Posted inINCOME TAX
Things to be First Done on New Income Tax E-filing Portal
As the new e-filing portal of income tax is now live, here are the list of things/ actions to be first done on new portal: (1.) Re-register your DSC, (2.) Reset e-filing vault high security options, (3.) Update your personal mobile number and email id under primary contact in your profile, (4.) Link aadhaar & […]
Posted inINCOME TAX
New Income Tax E-filing Portal is Now Live
Income Tax Department today launched its new e-filing portal. However the portal was crashed at the time of launch but the team has managed the same. Now the portal is live and can be accessed at http://www.incometax.gov.in Income Tax Department has also released a video to guide stakeholders about the portal. The video can be […]
Posted inINDIA
Key Highlights of PM Modi’s Today’s Address to the Nation
Key Highlights of PM’s today’s address to the nation are as under (as tweeted by the PMO India): (1.) आज ये निर्णय़ लिया गया है कि राज्यों के पास वैक्सीनेशन से जुड़ा जो 25 प्रतिशत काम था, उसकी जिम्मेदारी भी भारत सरकार उठाएगी। ये व्यवस्था आने वाले 2 सप्ताह में लागू की जाएगी। इन दो […]
Posted inTC
World’s Biggest Hacker Group “Anonymous” Threatens Elon Musk for Crashing Bitcoin Prices
World’s Biggest Hacker Group “Anonymous” sends a message to Elon Musk. The words of the message are as under: “Greetings World, For the past several years you have enjoyed one of the most favorable reputations of anyone in the billionaire class because you have tapped into the desire that many of us have to live […]
Posted inINDIA
E-waste Eco Park Scheme by the Ministry of Electronics and Information Technology (MeitY)
The Ministry of Electronics and Information Technology (MeitY) to E-waste Eco Park Facilities in 5 top E-waste generating states of India. Here are the details and salient features: E-waste Eco Parks to centralize E-waste recycling process with state-of-the-art-technology. To create self-reliance of strategic materials, precious metals and other resources specially Rare Earth Materials. E-waste Eco […]
Posted inEPFO
Withdrawing Money from EPF Account is now Paperless. Thanks to Umang App!
The official twitter handle of Digital India has tweeted that withdrawing money from EPF account is now paperless, thanks to Umang App for the same. Digital India also tweeted that: 6.5+ crore employees of private sector now- Check PF balance and pass book Raise claim Find EPFO office address Apply for Jeevan Pramaan Certificate Apply […]
Posted inINCOME TAX
New Income Tax E-filing Portal is a New Transition. We Request the Patience of Taxpayers/ Stakeholders: CBDT
CBDT, on 5th June 2021, said that familiarization with the new system may take some time, so, the Department requests the patience of all taxpayers/stakeholders for the initial period after the launch of the new portal and while other functionalities get released since this is a major transition. The mobile app will also be released […]
Posted inINCOME TAX
CBDT Issues Press Release for New Income Tax E-filing Portal to be Launched on 7th June 2021
The Income Tax Department is launching its new e-filing portal http://www.incometax.gov.in on 7th June, 2021. The new e-filing portal is aimed at providing taxpayer convenience and a modern, seamless experience to taxpayers. Some of the highlights of the new portal are detailed hereunder: New taxpayer friendly portal integrated with immediate processing of Income Tax Returns […]
Posted inGST
COVID Affect: Rs. 1,02,709 Crore Gross GST Revenue Collected in May 2021
The gross GST revenue collected in the month of May 2021 is ₹1,02,709 crore of which CGST is ₹17,592 crore, SGST is ₹22,653, IGST is ₹53,199 crore (including ₹26,002 crore collected on import of goods) and Cess is ₹ 9,265 crore (including ₹868 crore collected on import of goods).The above figure includes GST collection from domestic transactions till 4th of June since taxpayers were given various relief measures […]
Posted inINDIA
CBI Director Subodh Kumar Jaiswal Directs Staff to Wear Formals on Duty
PTI: New CBI Director Subodh Kumar Jaiswal has directed all officials of the agency to be dressed in formals on duty, warning them that casual dressing will not be allowed. In an order issued by the Deputy Director Administration, it has been made clear that while all male staff should be dressed in trousers, collared […]
Posted inINCOME TAX
Taxpayers and Professionals have to Re-register their Digital Signature on New Income Tax Portal
Income Tax Department has send an email to all taxpayers and professionals who are using DSC on existing Income Tax Portal asking that they have to re-register their DSC on new income tax portal. The details are attached in the following picture:
Posted inTC
Big Expose: Punjab Government is Selling COVID Vaccines at Premium Rates after Purchasing at Subsidized Rates from Central Government
Punjab Government buying Covaxin Dose at Subsidized Rate of ₹400 from Central Govern as per Quota and Selling it to Private Hospitals at ₹1060 per Dose who inturn Vaccinate People at ₹1560 : Hindustan Times Expose.
Posted inBUSINESS & ECONOMY
Director General of Taxpayer Services is Organising Webinar on the Topic “Latest Initiatives of Indian Customs during COVID-19 Pandemic”
Directorate General of Taxpayer Services, CBIC in association with Confederation of Indian Industry (CII) and FICCI is organising a webinar on “Latest initiatives of Indian Customs during COVID19 pandemic” on June 4, 2021, 3 PM onwards. Link to attend webinar: https://prchief.webex.com/wbxmjs/joinservice/sites/prchief/meeting/download/df771afa40cc432a87eb8a188616db1d?protocolUID=bd4c9c34f1d3c94bf825b23f9cfe80d3#noRefresh
Posted inGST
Breaking: Extension in Due Dates of Various GST Compliances for GST Taxpayers
Government has extended the dates of various compliances by Taxpayers under GST vide Notn No 12/2021-CT, dated 1st May, 2021, r/w Notn No 17/2021 CT dated 1st June, 2021, Notn No 14/2021-CT, dated 1st May, 2021,r/w Notn No 24/2021-CT, dated 1st June, 2021, Notn No 25/2021-CT, dated 1st June, 2021, Notn No 26/2021-CT, dated 1st June, 2021. The details are summarized […]
Posted inGST
GST Update: Extension of Due Date of Filing Application for Revocation of Cancellation of Registration in the Wake of COVID-19
GSTN has posted an update on 31st May 2021, which is as under: “In view of the decision of GST Council taken in its 43rd meeting dated 28.05.2021, the timeline for filing of the ‘Application for Revocation of Cancellation’ for those applicants, for whom the due date of filing such application was falling between 15 […]
Posted inGST
Webinar on GST Related COVID-19 Relief Measures Taken by the CBIC
CGST Gandhinagar is organising webinar on GST related COVID-19 relief measures taken by the CBIC. The webinar is open for all. Date and time: 1st June 2021 at 4 PM The webinar will be conducted via Webex Meeting App. To join the webinar, Please Click Here For further queries, visit at cgstgandhinagar.gov.in and write to […]
Posted inTC
Dominica Captured Mehul Choksi in Police Custody. Antigua News Room Shares Pictures
Antigua News Room shares pictures of Mehul Choksi after he has captured in Dominica. Pictures posted by ANI on its twitter handle are attached:
Posted inGST
Compilation of COVID-19 Relief Measures for Taxpayers in 43rd GST Council Meeting
For the easy understanding of my professional colleagues, i have compiled GST returns related relief measures announced in 43rd GST Council Meeting in the wake of COVID-19 Pandemic. Pictures attached for your kind reference:
Posted inTC
A Group of Ministers (GoM) has been Constituted to Examine the Issue of GST Exemption to COVID Relief Material: Ministry of Finance
As a follow up of the decision of the GST Council at its 43rd meeting, a Group of Ministers (GoM) has been constituted to examine the issue of GST concession/ exemption to COVID relief material. GoM to submit its report by June 08, 2021.
Posted inGST
GST Council Approves Amnesty Scheme in GST to Clean-up Pendency in Return Filing
43rd GST Council Meeting approves Amnesty Scheme under GST to clean-up pendency in GST return filing. Agenda no. 9B(i) shows that GST Council has once again provided relief in GST late fees for previous GST Returns. Picture attached for your kind reference: Amnesty Scheme Details: Tax period covered: July 2017 to April 2021 Late fees […]
Posted inGST
Finance Minister Nirmala Sitharaman to Hold Media Briefing Post 43rd GST Council Meeting
Finance Minister Nirmala Sitharaman to hold a media briefing on the outcomes of 43rd GST Council Meeting. Venue: National Media Centre, New Delhi Time: 28th May 2021 at 8:00 PM Watch on PIB’s
Posted inTC
Enforcement Directorate (ED) Files Prosecution Complaint and Attaches Assets in two Different Cases
1st Case: ED has attached immovable assets worth Rs. 166 Crore of Varron Group of companies and its promoter, located in Mumbai, Pune and Ratnagiri under PMLA in a Bank Fraud Case. 2nd Case: ED has filed a prosecution complaint against Anumula Revanth Reddy (MP, Malkajgiri), Sandra Venkata Veeraiah (MLA from Telugu Desam Party of […]