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THE EDGE
TAX & LEGAL UPDATE
Vol 2, Part 27
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Wednesday, Jul 11, 2018
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Weekly on GST, FSSAI, RERA & More...
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TCS Quarterly Statement - Form 27EQ |
15th Jul |
GST Quarterly Return under Composition Scheme |
18th Jul |
GSTR-3B (Jun 2018) |
20th Jul |
ITR by Non-Resident Taxable Person |
20th Jul |
GSTR-1 April to June (Quarterly) |
31st Jul |
GSTR-6 (Jul-17 to Jun-18 |
31st Jul |
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CENTRAL TAX (RATE)
Notification No. 29/2018 – Central Tax dt. 06.07.2018
Seek to make amendments (Seventh Amendment, 2018) to the CGST Rules, 2017
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CUSTOMS – TARIFF
Notification No. 51/2018-Cus dt. 09.07.2018
Seeks to amend the notification No. 27/2011-Customs dated01 st March, 2011 so as to reduce theexport duty on export of Iron Ore by MMTC Limited (only NMDC origin) to Japanand South Korea under the Long Term Agreement (LTA), from 30% to 10%, upto andinclusive of 31.03.2021
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CUSTOMS – NON-TARIFF
Notification No.60/2018 - Customs (N.T.) dt. 05.07.2018
Exchange Rates Notification No.60/2018-Custom(NT) dated 05.07.2018
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ANTI DUMPING DUTY
Notification No. 35/2018-Cus (ADD), dt. 09-07-2018
Seeks to increase the tariff rate on goods in chapters 7, 8, 28, 38, 72 and 73 in the First Schedule to the Customs tariff Act, 1975.
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INCOME TAX
Order dated 30.06.2018
Regarding linking of Pan with Adhaar while filing ITR – date extended till 31.03.2019
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Notification No. 29/2018 dt. 22.06.2018
Regarding exception, modification and adaptation under Section 115JH of the Income-tax Act, 1961 in respect of foreign company said to be resident in India.
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Which Authority is authorized to conduct examination for GST Practitioners?
A: NACIN
B. CBIC
Click here
Last date to participate: JUL 14, 2018
PREVIOUS WEEK'S WINNERS
Ritu Tayal, New Delhi
Megha Dhanuka, Jaipur
Dilip Lohiya, Nagpur
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Narain Dutt Sharma v. Income-tax Officer, Ward- 6 (1), Jaipur dt. 07.02.2018 [JAIPUR BENCH]
Where AO reopened assessment on ground that he had deposited certain amount in bank account which was not reflected in return as per IT System of department, in view of fact that assessee had filed return manually which had been duly acknowledged and in said return assessee had furnished proper details in respect of contractual receipts deposited in bank account, impugned reassessment proceedings deserved to be quashed.
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Rathan Babulal Lath v. DCIT-Bengaluru dt. 15.06.2018 [BENGALURU TRIBUNAL]
Assessment merely based on Statements recorded by CBI is invalid.
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M/s. Abad Trust vs. Asst. Director of Income Tax (Exemption), Kochi dt. 19.04.2018 [COCHIN BENCH]
Income of Beneficiaries not Taxable in the hands of Trust.
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Dr. Reddy’s Laboratories Ltd. v. DCIT dt. 08.06.2018 [HYDERABAD TRIBUNAL]
Apportioning R & D Expenditure and ESOP cost to Units which Claimed Exemption u/s 10B, 80IB and 80IC not justified.
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INCOME TAX
Hussain Indorewala & Ors. vs. Union of India & Ors. W.P. No. 1709 of 2018 dt. 29.06.2018
State is directed to accept the return of income for the Assessment Year 2018-19 by the petitioners herein if uploaded on or before 30th June, 2018 without Aadhaar number, Aadhar Enrollment or any linkage with the PAN details. This is without prejudice to the rights and contentions of the state that such Returns of Income are contrary to the provisions of the Act.
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GST
Bharat Iron Store v. Union of India [2018] (Allahabad) dt. 12.01.2018
Where Competent Authority had seized goods of assessee under transport and also imposed penalty upon him and thereupon assessee filed writ petition, assessee was advised to take recourse to remedy of filing appeal available under U.P. GST Act.
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Mega Flex Plastics Ltd., In re [2018] (AAR-WEST BENGAL) dt. 06.07.2018
Polypropylene Leno Bags, if specifically made from woven polypropylene fabric using strips or like of width not exceeding 5 mm and without any impregnation, coating, covering, or lamination with plastics, are to be classified under Tariff Sub-Heading 6305 33 00.
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M D Mohta, In re [2018] (AAR-WEST BENGAL) dt. 05.07.2018
‘Rakhi’ classifiable as per its constituent materials; GST exemption is not applicable.
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VAT
State of Gujarat v. Super Tiles & Marbles (P.) Ltd. [2018] (Gujarat) dt. 27.04.2018
Gujarat VAT - Interlocking paving bricks and curb stones are bricks.
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Government proposes 46 amendments to GST Law.
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PIB Press Release dt. 07.07.2018: Preliminary text of PM’s address at the public meeting with beneficiaries in Jaipur, Rajasthan
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PIB Press Release dt. 06.07.2018: First meeting of e-Commerce Task Force held.
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PIB Press Release dt. 04.07.2018: IBBI amends the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016
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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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