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Wednesday, March 15, 2017
Quick Updates

Quick Updates

  • Cretificate for lower TDS 'Person specific and not income specific
  • Cretificate for lower TDS ‘Person specific’ and not ‘Income specific’
  • Shri G.D Aggarwal appointed as President of ITAT
  • Interest earned by Mauritius Bamk from Indian securities is exempt in India
  • No section for 54F relief if newly aquired house is instantly demolished
  • RBI allows NRIs to invest in exchange-traded currency derivatives
  • Furnishiung of Aadhar is mandatory for final settlement of Pension calimes
Interest on refund is available from date of reassessment when there is suppression of facts by assessee

Interest on refund is available from date of reassessment when there is suppression of facts by assessee

Interest on refund is available from date of reassessment when there is suppression of facts by assessee
Bawa Trading Co. v. Sales Tax Officer* [2017] 78 taxmann.com 104 (Orissa)
CBEC launches mobile application for GST

CBEC launches mobile application for GST

In step with the goernment's Digital India Initiative, the Central Board of Excise and Customs (CBEC) has launched a mobile applicatrion for 'Goods And Service Tax'.Taxpayers can readily access a host of GST information such as:
  • Migrations to GST-Approach and guidelines for migration
  • Draft Law-Model GST law, IGST law and GST compensation law
  • Draft Rules-Rules related to registeration, returns, payment, refund and invoice
  • Frequently Asked Questions (FAQs) on GST
  • Various resources on GST such as videos, articles etc.
  • Related website links
Labelling and packing of handmade 'Biri' in plastic wrappers isn't manufacturing: Calcutta HC

Labelling and packing of handmade 'Biri' in plastic wrappers isn't manufacturing: Calcutta HC

The High Court of Calcutta held that labelling and packing of handmade biri in printed plastic wrappers with aid of power operated machine to bring into existence retail pack would not come within purview of 'manufacture'.
Deputy Commissioner of Central Excise, Siliguri v. Kishan Biri Mfg. Co.* [2017] 78 taxmann.com 167 (Calcutta)
Upgradation of aircrafts to be treated as manufacturing activity, not liable to Service Tax

Upgradation of aircrafts to be treated as manufacturing activity, not liable to Service Tax

The CESTAT, Allahabad Bench held that activities to upgrade aircrafts being manufacturing activities, is not 'maintenance and repair services'.
Hindustan Aeronautics Ltd. v. Commissioner of Central  Excise, Kanpur* [2017] 78 taxmann.com  68 (Allahabad - CESTAT)
SIM Card replacement charges are liable to service tax and not VAT: Madhya Pradesh HC

SIM Card replacement charges are liable to service tax and not VAT: Madhya Pradesh HC

The High Court of Madhya Pradesh held that where assessee provided various kinds of telecom services such as cellular, fixed line and broadband services and paid service tax thereon, levy of VAT on SIM card replacement charges and lease line charges received by assessee from subscribers not justified.
Idea Cellular Ltd. v. Assistant Commissioner of Commercial Tax, LTU, Indore* [2017] 78 taxmann.com 106 (Madhya Pradesh)
Leasing of earthmoving equipment would attract VAT and not service tax

Leasing of earthmoving equipment would attract VAT and not service tax

The CESTAT, Mumbai Bench held that assessee was engaged in renting of earthmoving equipments and terms and conditions stipulated in agreement entered into between assessee and lessor led to conclusion that transaction envisaged in agreement was one of transfer of right to use goods, assessee's activity of giving equipments on hire did not fall under category of 'supply of tangible goods for use'
Gimmco Ltd. v. Commissioner of Central Excise & Service Tax, Nagpur* [2017] 78 taxmann.com 30 (Mumbai - CESTAT)
Services Tax exempted on services

Services Tax exempted on services

Services by way of carrying out,-
  • Any process amounting to manufacture or production of goods excluding alcoholic liquor for human consumption; or 
  • Any intermediate production process as job work not amounting to manufacture or production in relation to specified cases 
  • Process amounting to manufacture or production of goods" means a process on which duties of excise are leviable.
Delhi slashes VAT on jet fuel for regional airlines to 1%

Delhi slashes VAT on jet fuel for regional airlines to 1%

The Delhi goverenment announced reduction in VAT on jet fuel for regional carriers flying out of Delhi airport.The VAT on Aviation Turbine Fuel(ATF) bought for regional flights will be charged at the rate of 1% and not 25%.