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THE EDGE
TAX & LEGAL UPDATE

 

 

Vol 2, Part 20

Wednesday, May 16, 2018

Weekly on GST, FSSAI, RERA & More...

E-WAY BILL SYSTEM FOR INTRA-STATE MOVEMENT OF GOODS TO COMMENCE FROM 20.05.2018 IN RAJASTHAN

 

 

◔ TIMELINES

 

Upcoming due dates under GST & Income Tax Laws:

 

VAT 10A (FY 2016-17) 31st May
VAT 11 (FY 2016-17) 31st May
GSTR-3B (April, 2018) 20th May
GSTR-5 (April, 2018) 20th May
GSTR-5A (April, 2018) 20th May
GSTR-3B (April, 2018) 20th May
PF, Employee Deposit linked Insurance Scheme (EDLI) return filing for April, 2018 25th May
GSTR-6 (July, 17 – Apr, 18) 31st May
VAT 11 (FY 2017-18) 30th Jun
VAT 10A (FY 2017-18) 30th Jun
Link Aadhar with PAN 30th Jun

 

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WEEKLY QUIZ

 

 

GST Rate on hotel accommodation where declared tariff per day is Rs. 2699?

A: 18%

B. 28%

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Last date to participate:
MAY 19, 2018

 

PREVIOUS WEEK'S WINNERS

 

Dr. Basant Gupta, Jaipur
Rishav Saraf, Bengaluru
Vishnu Prasad Jalan, Gorakhpur

 

RECENT AMENDMENTS

 

GST

 

Notification No. 22/2018- Central Tax
Seeks to waive the late fee for FORM GSTR-3B Read More

 

CUSTOMS

 

Notification No. 36/Cus (NT) dated 11.05.2018
Bill of Entry (Electronic Integrated Declaration and Paperless Processing) Regulations, 2018 Read More

 

Notification No. 37/Cus (NT) dated 11.05.2018
Amendment to notification No. 17/2017-Customs (N.T.) dated 3rd March,2017 Read More

 

Notification No. 39/Cus (NT) dated 11.05.2018
Officers of Customs for purpose of carrying out Audit under section 99A Read More

 

Notification No. 40/Cus (NT) dated 11.05.2018
Notification under section 2 for the purpose of section 17 and section 20 of the Customs Act. Read More

 

Notification No. 04/Cus (NT/CA/DRI) dated 14.05.2018
Appointment of Common Adjudicating Authority Read More

 

ANTI DUMPING DUTY

 

Notification No. 25/2018 Cus (ADD) dt. 10.05.2018
Seeks to amend notification No.17/2018 Customs (ADD) dated 27.03.2018. Read More

 

RGST

 

Notification dt. 14.05.2018
Regarding notifying the jurisdiction of appellate authorities under the RGST Act, 2017 Read More

 

ASSAM GST

 

Notification No. 7/2018-GST dated 07.05.2018
Introduction of intra-state E-way bill in the State of Assam from 16th May, 2018. Read More

 

 

ADVANCE RULINGS UNDER GST

 

Shreenath Polyplast (P.) Ltd., In re. - (AAR-GUJARAT) dt. 19.02.2018
Interest charged by Del Credere agent on short term loan exempt from GST Read More

 

M/s. CMS Info Systems Limited, In re. – (AAR MAHARASHTRA) dt. 19.03.2018
Sale of Cash Carry vans as scrap, after its use, liable to GST Read More

 

M/s. Ceat Tyres, In re. – (AAR MAHARASHTRA) dt. 09.03.2018
E-rickshaw Tyres classifiable as ‘New pneumatic tyres of rubber’; taxable at rate of 28% Read More

 

M/s. Sreepati Ranjan Gope & Sons – (AAR WEST BENGAL) dt. 03.05.2018
Maintenance of Existing Railway Tracks is Taxable at 18% GST. Read More

 

 

ITAT JUDGEMENTS

 

Assistant Commissioner of Income-tax, Circle-12 (1), New Delhi v. GS Engineering & Construction India (P.) Ltd. dt. 05.04.2018 [DELHI BENCH]
Claim of deduction under section 10A on basis of suo motu TP adjustments was allowable Read More

 

Rajesh Pagaria vs. ITO, Ward 48(2), Kolkata dt. 11.05.2018 [KOLKATA BENCH]
Deemed Dividend Provisions not applicable to Current Account Transactions Read More

 

ACIT vs. M/s. Ho Hup Simplex JV dt. 21.03.2018 [KOLKATA BENCH]
Infrastructure companies who have earned the tender to Civil Construction projects are eligible to tax holidays provided under section 80-IA of the Income Tax Act. Read More

 

Nirmal Kumar Joshi vs. ITO, Kishangarh dt. 27.03.2018 [JAIPUR BENCH]
Counsel: Shri Nikhilesh Kataria (CA)
Issue: Penalty levied u/s. 271B of the IT Act.
Held: The additional sales found as a result of search, was not recorded in the books of account regularly kept in the course of business by the appellant. Merely because the appellant accepted the additional sales for the purpose of assessment of the relevant year on the basis of entries in the seized documents, the same would not constitute accounts of the appellant maintained in the regular course of business and on that basis alone liability cannot be fastened on the assessee by holding him to have committed the default. Penalty is hereby deleted. Read More

 

FROM THE BENCH

 

GST

 

M/s. Om Disposals vs. State of U.P & Ors. dt. 30.04.2018
Allahabad HC refers Larger Bench to adjudicate the Validity of Notification Issued by State of U.P requiring E-Way Bill for Inter-State Supply of Goods Read More

 

INCOME TAX

 

Milind Agarwal v. Institute of Chartered Accountants of India dt. 12.02.2018
HC quashes writ petition filed by CA students challenging results published by ICAI Read More

 

CIT vs. M/s. Bengal Intelligent Parks Pvt. Ltd. dt. 10.05.2018
Section 43A of the Income Tax Act,1961 would only apply to the apparent gain made by the assessee, in acquiring assets for the purpose of its business or profession, as a consequence of the foreign exchange fluctuation. Read More

 

SERVICE TAX

 

Krishi Upaj Mandi Samiti Sikar v. Commissioner of Central Excise & Service Tax dt. 23.04.2018
Where assessee, an Agricultural Produce Market Committee, was established to regulate sale of agricultural produce in notified markets and it let out land and shops to traders and collected allotment fee/lease amount for such land/shop and Tribunal held that assessee was liable to pay service tax under category of 'renting of immovable property service' for period upto 30-6-2012, SLP was granted. Read More

 

 

MISCELLANEOUS UPDATES

 

  • E-way bill system for intra-state movement of goods in the State of Rajasthan to be implemented from 20th May, 2018 Read More
  • Customs and Postal Department hold First ever Joint Conference to deliberate on streamlining imports and exports by post; To cater to the SMEs and to boost the Make in India program, Customs Department proposes new simplified procedures for exports through India Post. Read More
  • Tweet by GST_GoI: E-Way bill FAQs

 

 

 

Editorial Team : Meenal Ghiya, Priyamvada Joshi & Deepak Garg

 

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