If you are unable to view this e-mail correctly,
click here to open in browser
|
|
THE EDGE
TAX & LEGAL UPDATE
|
Vol 2, Part 12
|
Wednesday, Mar 21, 2018
|
|
Weekly on GST, FSSAI, RERA & More...
|
|
|
|
FROM EDITOR'S DESK
The month of March is taking a toll on all professionals, be it Income-Tax or GST or other allied tax laws. The compliances are to be made by 31st March, 2018.
It is to be noted that last days of March are full of holidays and therefore, the compliances should be made in time in order to avoid last minute problems. The Income Tax department is on a recovery drive and all the pressure is being applied for recovering demands.
Please continue to send your suggestions and queries at contact@ghiyalegal.com
TIMELINES
Upcoming due dates under GST & Income Tax Laws:
| PF Return (Feb-18) |
25th Mar |
| VAT 10 A (FY 2016-17) |
31st Mar |
| VAT 10 (Quarter 1 For F.Y. 2017-18) |
31st Mar |
| VAT 11 (FY 2016-17) |
31st Mar |
| VAT 11 (FY 2017-18) |
31st Mar |
| GSTR-6 (July, 17 – Feb, 18) |
31st Mar |
| Link Aadhar with PAN, Mobile, Insurance Policies, Mutual Funds, DMAT, Bank Account etc. |
31st Mar |
| GSTR-1 (Feb) (Turnover above 1.5 Cr.) |
10th Apr |
| GSTR-1 (Jan-Mar) (Turnover upto 1.5 Cr.) (Quarterly return) |
30th Apr |
|
GET
THE EDGE
Notifications
Circulars
Orders
Judgements
Queries
Articles
FAQs
SUBSCRIBE NOW
|
Weekly Quiz
|
|
SEND YOUR
Articles
Queries
Suggestions
CONTACT US
|
|
RECENT PUBLICATIONS
GST Law & Practice, 5th Edition, updated till 21st Nov 2017, released at AIFTP National Tax Convention at Jabalpur by Hon'ble Chief Justice of India, Mr. Justice Deepak Misra on 02.12.2017
Buy Now
|
|
RECENT AMENDMENTS
GST CIRCULAR
Circular No. 37/2018-GST dt. 15.03.2018
Clarifications on exports related refund issues.
Read More
CUSTOMS (NON-TARIFF)
Notification No. 19/2018-Cus (NT) dt. 15.03.2018
Exchange Rates Notification
Read More
Notification No. 20/2018-Cus (NT) dt. 15.03.2018
Tariff Notification in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Silver.
Read More
Notification No. 21/2018-Cus (NT) dt. 19.03.2018
Declaration of Vijayawada Airport as Customs Airport; amendment of Notification No. 61/94(NT)- CUSTOMS dt. 21st November, 1994.
Read More
Circular No. 06/2018 dt. 16-03-2018
Refund of IGST on Export-EGM Error related cases
Read More
ANTI-DUMPING DUTY
Notification No. 06/2018-Cus (ADD), dt. 12-03-2018
Seeks to impose anti-dumping duty on imports of 'O-Acid' originating in or exported from China PR.
Read More
Notification No. 07/2018-Cus (ADD), dt. 13-03-2018
seeks to impose definitive anti-dumping duty on the imports of "Sulphonated Naphthalene Formaldehyde" originating in or exported from China PR
Read More
Notification No. 08/2018-Cus (ADD), dt. 15-03-2018
Seeks to impose anti-dumping duty on imports of 'Ofloxacin' originating in or exported from China PR
Read More
Notification No. 09/2018-Cus (ADD), dt. 19-03-2018
Seeks to rescind notification No. 48/2012-Customs (ADD) dated the 8th October, 2012.
Read More
FSSAI
Gazette notification of Food Safety and Standards (Food Product standards and Food additives) first amendment Regulations, 2018 relating to inclusion of fatty acid composition for various edible vegetable oils
Read More
ITAT JUDGEMENTS
Gyanchand M. Bardia vs. Income Tax Officer, Ahmedabad dt. 21.02.2018 [AHMEDABAD BENCH]
HUF does not come under the category of a relative HUF and can’t be treated as a ‘Donor’ of Gift for the purpose of S. 56(2)(vii) of the Income Tax act in relation with the taxability of gift.
Read More
M/s. Runwal Constructions vs. Assistant Commissioner of Income Tax, Mumbai dt. 22.02.2018 [MUMBAI BENCH]
Deemed Rent from unsold flats not taxable as they are Stock-in-Trade of Assessee-Builder.
Read More
Ruguvalika Trading Pvt. Ltd. vs. DCIT, Kolkata dt. 14.02.2018 [KOLKATA BENCH]
Resultant profit out of investment in shares is to be taxed as capital gains even if intention of investor is not to earn only dividend income
Read More
Pradeep Kumar Contractor Vs. ACIT, Jhunjhunu dt. 08.03.2016 [JAIPUR BENCH]
Counsel: Shri Manish Agarwal (CA)
ISSUE: what should be the reasonable gross profit rate once the books of accounts have been rejected
HELD: The best guide in case of fair estimation is past history of the assessee and directed to apply last five years average for the purposes of determination of fair estimation of profits. Appeal Allowed.
Read More
FROM THE BENCH
GST
HINDALCO INDUSTRIES LTD Vs THE UNION OF INDIA & ORS dt. 05.03.2018 [BOMBAY HIGH COURT]
Rebate – Section 142(3) of the CGST Act, 2017 - Costs were imposed on Respondent Revenue to impress upon the Authorities that the proceedings before the High Court should not be delayed; that Public Interest suffers and that was not present to the mind of the Authorities - it is only to remind the Respondents of the duties and obligations to the public, that costs were imposed - on account of the subsequent development and particularly the Central Goods and Services Tax Act, the issue in the Petition is purely academic and it is rendered infructuous - earlier order imposing costs of Rs.25,000/- on the Respondents recalled and the amount paid be returned to Respondent – Writ Petition disposed of without costs.
Read More
PROACTIVE PLAST PVT LTD Vs STATE OF U P AND 2 OTHERS dt. 01.02.2018 [ALLAHABAD HIGH COURT]
Petitioner is aggrieved by the seizure of his goods vide impugned order dated 20.01.2018 passed under Section 129(1) of the UP GST Act, 2017
HELD: Even if the seizure is treated to be under Section 129(1) of the Central G.S.T., as there was no provision of E-Way bill on the relevant date under the Central G.S.T and, therefore, prima facie the seizure appears to be illegal - since the goods seized are said to be perishable nature, the same are directed to be released along with vehicle subject to the petitioner furnishing indemnity bond and security (other than cash and bank guarantee) in respect of the proposed tax and penalty on the value of the goods shown in the documents accompanying the same.
Read More
INCOME TAX
MAXOPP INVESTMENT LTD Vs COMMISSIONER OF INCOME TAX, NEW DELHI dt. 12.02.2018 [SUPREME COURT]
It is not dominant purpose test but principle of apportionment which is ingrained in provisions of Section 14A – YES
Read More
HUF
DANAMMA @ SUMAN SURPUR & ANR VS. AMAR & ORS. dt. 01.02.2018 [SUPREME COURT]
Even after marriage, a daughter, a member of HUF, is entitled to a share in family property.
Read More
MISCELLANEOUS
Various Press release by Press Investigation Bureau
-
107 companies and 7 LLPs under SFIO scanner in PNB fraud case
Read More
-
Goods and Services Tax Rate and Policy
Read More
-
Taxes collected by Service Providers
Read More
-
GST Export Refunds
Read More
-
Exchange Rate of Foreign Currencies relating to
Read More
-
Imported and Export Goods Notified
-
Instructions by CBEC for Re-verification of Transitional Credit
Read More
-
Press Release by CBEC on GST Export Refunds
Read More
|
|
Editorial Team :
Meenal Ghiya, Priyamvada Joshi, Ankit Agrawal, 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.
Click here to Unsubscribe
|
|
|
