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THE EDGE
TAX & LEGAL UPDATE
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Vol 3, Part 65
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Wednesday, Mar 4, 2020
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Fortnightly on GST, FSSAI, RERA & More...
We deal in NCLT/GST/Income Tax/RERA and Civil Matters
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Ghiya Legal invites articles for publishing in THE EDGE.
Send your contributions to contact@ghiya.in.
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KOLKATA BENCH
Blooming Tradelink Pvt. Ltd. vs. ITO dt. 28.02.2020
The ITAT Kolkata held that swapping of Company shares among sharehoders does attract addition u/s 68 of Income Tax Act, 1961.
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NEW DELHI BENCH
Rajendra Kumar vs. DCIT dt. 27.02.2020
The Income Tax Appellate Tribunal (ITAT), Delhi has has opined that no addition is warranted against unexplained investment
under the provisions of section 69 of the Act, IT 1961
where no evidence is available to prove that assessee made payment beyond sale agreement.
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CHENNAI BENCH
Smt. A.Tamil Ponni vs. ITO dt. 25.02.2020
The Chennai bench of the Income Tax Appellate Tribunal (ITAT) has held that the wife is eligible for deduction under section 54 of the Income Tax Act for the investment in a house in the name of her husband.
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JAIPUR BENCH
ITO vs. Bajaj Udyog dt. 09.08.2019
ITAT Jaipur Bench held that Amendment brought in section 55A(a) by Finance Act, 2012, has to be read prospectively; such amendment shall apply to transactions which are effected during period started on or after 1-7-2012
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HIGH COURT OF GUJARAT
M/S GUJARAT CO-OPERATIVE MILK MARKETING FEDERATION LIMITED THRU. GENERAL MANAGER (FINANCE) ATULKUMA Versus UNION OF INDIA dt. 13.12.2019:
Gujarat HC permits to File Refund application as Chilling and Packaging of Milk is Exempted under GST. the court observed that the activities of chilling and packaging services of milk which is provided by the contractors to the petitioners are exempted by the virtue of Serial No. 24 of the table to the Notification No. 11/2017.
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Appellate Authority - GST, HIMACHAL PRADESH
Neva Plantation (P.) Ltd. v. ACSTE [2020] 114 taxmann.com 740 (AA- GST - HP) dt. 12.02.2020
Penalty cannot be imposed u/s 129 (1) where machine was transported for repair without e-way bill
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NATIONAL ANTI-PROFITEERING AUTHORITY
Paramjeet Rathee v. Supertech Ltd. [2020] 114 taxmann.com 715 (NAA) dt. 25.02.2020
Where applicant had filed an application alleging that respondent had resorted to profiteering in respect of supply of construction services related to purchase of a flat in respondent's project 'Officer Enclave' on ground that respondent had not passed on benefit of Input Tax Credit (ITC) by way of commensurate reduction in price of apartment purchased by him on implementation of GST, since there has been no reduction in rate of tax in post GST period and percentage of ITC availed by respondent in post¬GST period was very low in comparison to pre¬GST period provisions of section 171 have not been contravened
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Appellate Authority - GST, HIMACHAL PRADESH
Godrej Consumer Products Ltd. v. ACST & E-Cum Proper Officer Circle Baddi [2020] 114 taxmann.com 453 (AA- GST - HP) dt. 11.02.2020
Where due to a typographic error while generating E¬way bill, petitioner mentioned approx distance between Puducherry to Himachal Pradesh as 20 Kilometers instead of 2000 Kilometers, as a result of which, a validity of one day had been calculated by E¬way bill portal instead of twenty days and on expiry of E-way bill on very next day and interception of consignment before reaching destination, no violation of Rule 138 could be alleged to levy penalty
Read More
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Upcoming due dates under GST & Income Tax Laws:
| Due date for filing GSTR-8 (to be filed by the e-commerce operators required to deduct TDS under GST for the month of February 2020. |
10th March |
| Due date for filing GSTR-7 (to be filed by the by the person who is required to deduct TDS under GST under GST for the month of February 2020. |
10th March |
| Due date for filing GSTR-1 for the month of February 2020 for taxpayers with Annual Aggregate turnover Above Rs. 1.50/- Crore or opted to file monthly Return (Rs. One Crore Fifty Lacs) only |
11th March |
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Due date for installment of Advance Tax for FY 2019-2020
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15th March |
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Due date for filing GSTR-6 (to be filed by Input Service Distributor for month of February 2020
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13th March |
| Due date for filing GSTR-3B for the month of February 2020 for taxpayers having an aggregate turnover of more than Rs. 5 Crores in the previous financial year. Pay due Tax till this date |
20th March |
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Due date for filing GSTR-3B for the month of February 2020 for taxpayers having an aggregate turnover upto Rs. 5 Crores in the previous financial year registered from the following states-
Chhattisgarh, Madhya Pradesh, Gujarat, Maharashtra, Karnataka, Goa, Kerala, Tamil Nadu, Telangana or Andhra Pradesh or the Union territories of Daman and Diu and Dadra and Nagar Haveli, Puducherry, Andaman and Nicobar Islands and Lakshadweep
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22nd March |
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Due date for filing GSTR-3B for the month of February 2020 for taxpayers having an aggregate turnover uptoRs. 5 Crores in the previous financial year registered from following states –
Himachal Pradesh, Punjab, Uttarakhand, Haryana, Rajasthan, Uttar Pradesh, Bihar, Sikkim, Arunachal Pradesh, Nagaland, Manipur, Mizoram, Tripura, Meghalaya, Assam, West Bengal, Jharkhand or Odisha or the Union territories of Jammu and Kashmir, Ladakh, Chandigarh and Delhi
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24th March |
| Due date for filing GSTR-5 & 5A (to be filed by the Non-Resident taxable person & OIDAR for the month of February 2020. |
20th March |
| Due date for filing GSTR-9 -The Most Comprehensive Annual Return/Statement for FY 18-19 by ALL registered persons having an aggregate turnover of more than Rs. 2 Crores or opted to file Annual Return |
31st March |
| Due date for filing GTSR-9C(Annual Return + Audited Annual Accounts + Reconciliation Statement) for FY 18-19 by registered person whose Annual Turnover for FY 17-18 is above Rs. 2 Cores |
31st March |
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CGST
Notification no. 08/2020-Central Tax ,dt. 02-03-2020:
seeks to "Amend the CGST Rules, 2017 to prescribe the value of Lottery"
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CGST (RATE)
Notification no. 01/2020-Central Tax (Rate) ,dt. 21-02-2020 :
Seeks to amend notification No. 1/2017- Central Tax (Rate) dated 28.06.2017 so as to notify rate of GST on supply of lottery.
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CUSTOMS – TARIFF
Notification no. 13/2020-Cus,dt. 14-02-2020:
Notification regarding exemption of duties of Customs against scrips issued under the RoSCTL scheme and additional ad-hoc incentive for apparel and made-ups sector.
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Notification no. 14/2020-Cus,dt. 14-02-2020:
Notification regarding exemption of duties of Customs against scrips issued under the 2% Additional ad hoc incentive for mobile phones.
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CUSTOMS – NON-TARIFF
Notification no. 12/2020-Cus (NT) d.t 11.02.2020:
Amendment to Notification No. 12/97-Customs (NT) dated 02.04.1997
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Notification no. 13/2020-Cus (NT) d.t 14.02.2020 :
Tariff Notification in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Silver- Reg
Read More
Notification no. 14/2020-Cus (NT) d.t 14.02.2020:
Notification no 14/2020-Custom(N.T.) dated 14.02.2020
Read More
Notification no. 15/2020-Cus (NT) d.t 20.02.2020:
Exchange Rates Notification No.15/2020-Custom(NT) dated 20.02.2020
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Notification no. 16/2020-Cus (NT) d.t 21.02.2020:
Transportation of goods (Through Foreign Territory) Regulations, 2020.
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Notification no. 17/2020-Cus (NT) d.t 25.02.2020:
Tariff Notification in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Silver- Reg.
Read More
Notification no. 18/2020-Cus (NT) d.t 28.02.2020:
Tariff Notification in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Silver- Reg.
Read More
What would be the tax rate applicable in case of mixed supply?
1. Tax rate as applicable on supply attracting the lowest rate of tax
2. Tax rate as applicable on supply attracting the highest rate of tax
3. Tax @ 28%
4. None of the above
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Last date to participate: March 8, 2020
PREVIOUS WEEK'S WINNERS
Saurabh, Ghaziabad
Sunil Kakkad, Sambalpur
CA Jimmy Modi, Jhunjhunu
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Firm busted for issuing fake invoices to claim input tax credit of goods worth Rs 436 crores
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GST Revenue collection for February, 2020 ₹ 1,05,366 crore gross GST revenue collected in February
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CBIC has invited views of the stakeholders on the concept paper of Faceless e-Assessment for imported goods. The concept has been introduced to bring uniformity in assessments across the country and is introduced as a part of ‘Turant’ Customs reform. After the successful run of the pilot project, countrywide implementation of the project is in the way.
Read More
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Editorial Team :
Meenal Ghiya, Priyamvada Joshi & Deepak Garg
Disclaimer: "The Edge" is meant for informational purpose only and does not claim to be advice or opinion, legal or otherwise, whatsoever. The information provided is not intended to create any advocate-client relationship and is not for advertising. The views expressed by the Author(s) are their personal views.
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