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THE EDGE
TAX & LEGAL UPDATE
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Vol 2, Part 48
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Wednesday, Jan 30, 2019
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Fortnightly on GST, FSSAI, RERA & More...
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Ghiya Legal invites articles for publishing in THE EDGE.
Send your contributions to contact@ghiya.in.
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Upcoming due dates under GST & Income Tax Laws:
| QUARTERLY GSTR-I (October, 2018- December, 2018) |
31st Jan 2019 |
| Quarterly statement of TDS deposited for the quarter ending December 31, 2018 |
31st Jan, 2019 |
| Due date for deposit of Tax deducted/collected for the month of January, 2019. However, all sum deducted/collected by an office of the government shall be paid to the credit of the Central Government on the same day where tax is paid without production of an Income-tax Challan |
07th Feb, 2019 |
| GSTR-1 (January, 2019) |
11th Feb, 2019 |
| GSTR-3B (January, 2019) |
20th Feb 2019 |
| Due date for furnishing the annual returns in FORM GSTR-9, FORM GSTR-9A and reconciliation statement in FORM GSTR-9C for the Financial Year 2017 – 2018 |
30th June, 2019 |
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NOTIFICATIONS / AMENDMENTS
CUSTOMS – TARIFF
Notification No. 01/2019-Cus d.t 10.01.2019:
Seeks to remove pre-import condition and include specified deemed export supplies for exemption from integrated tax and Compensation cess for materials imported against Advance Authorizations and Advance Authorizations for Annual Requirement.
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CUSTOMS – NON-TARIFF
Notification No. 03/2019-Cus (NT) d.t 11.01.2019:
Exchange Rates Notification.
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Notification No. 04/2019-Cus (NT) d.t 15.01.2019:
Tariff Notification in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Sliver.
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Notification No. 05/2019-Cus (NT) d.t 17.01.2019:
Exchange Rates Notification.
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Notification No. 01/2019-Cus (NT/CAA/DRI) d.t 21.01.2019:
Appointment of Common Adjudicating Authority by DGRI.
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Notification No. 02/2019-Cus (NT/CAA/DRI) d.t 21.01.2019:
Appointment of Common Adjudicating Authority by DGRI.
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Notification No. 03/2019-Cus (NT/CAA/DRI) d.t 21.01.2019:
Appointment of Common Adjudicating Authority by DGRI.
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CUSTOMS – ANTI-DUMPING DUTY
Notification No. 02/2019-Cus (ADD), dt. 15.01.2019:
Seeks to rescind notification Nos.30/2018 – Customs (ADD) and 31/2018 - Customs (ADD) both dated 30.05.2018 that provided for provisional assessment of jute goods exported from Bangladesh or Nepal by M/s Janata Jute Mills Ltd., M/s. Aman Jute Fibrous Ltd. (Producer) and M/s IB Jute Corporation (Exporter/ Trader) till the final findings of New Shipper Review in this regard are recieved.
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Notification No. 03/2019-Cus (ADD), dt. 15.01.2019:
Seeks to further amend notification No. 1/2017-Customs(ADD) dated 5th January, 2017 to prescribe ADD on exports from Janata Jute Mills Ltd., M/s. Aman Jute Fibrous Ltd. (Producer) and M/s IB Jute Corporation on the basis of final findings of the Designated Authority in this regard.
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Notification No. 04/2019-Cus (ADD), dt. 24.01.2019:
Seeks to rescind notification No. 11/2014-Customs (ADD) dated 11th March, 2014.
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Notification No. 05/2019-Cus (ADD), dt. 24.01.2019:
Seeks to impose anti-dumping duty on "Metaphenylene Diamine" originating in or exported from China PR.
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CUSTOMS – CIRCULARS
Circular No. 02/2019, dt. 08.01.2019:
Customs Post Clearance Audit.
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CENTRAL EXCISE – CIRCULARS
Circular No. 1068/01/2019-CX, dt. 10.01.2019:
Review of progress of implementation of Scheme of Budgetary Support to eligible industrial units located in States of Jammu and Kashmir, Uttarakhand, Himachal Pradesh, and North East including Sikkim-Clarifications.
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SERVICE TAX – CIRCULARS
Circular No. 211/01/2019-CX, dt. 15.01.2019:
Applicability of Service Tax on Asian Development Bank (ADB) and International Finance Corporation (IFC).
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CGST
Notification No. 01/2019-Central Tax dt. 15.01.2019
Seeks to amend notification No. 48/2017 to amend the meaning of Advance Authorization.
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As per recent notification, what is the last date for claiming input tax credit in respect of any invoice or invoice relating to such debit note for supply of goods or services or both made during the financial year 2017-18?
A: 30th September 2019; or
B. 31st March 2019
Click here
Last date to participate: Feb 2, 2019
PREVIOUS WEEK'S WINNERS
Shiv Ratan Sharma, Jaipur
Samir Jani, Junagahd
Ravikumar Doddi, Hyderabad
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Sh. Naresh Kumar Anand HUF, Jalandhar vs. Pr. Commissioner of Income Tax-2, Jalandhar
The Income Tax Appellate Tribunal (ITAT), Jalandhar bench has held that the lease rent received for letting out of open land should be treated as “Income from Other Sources.”
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Sri Lalitamba Nidi Swarnavalli Math, Sirsi vs. ITO, Ward-1, Sirsi
The Income Tax Appellate Tribunal (ITAT), Panaji has held that the provisions of taxation of the anonymous donations are not applicable in case of Religious Trust.
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Candor Business Solutions P. Ltd., Bengaluru vs. The Income Tax Officer, Ward 2(1)(1), Bengaluru.
The Income Tax Appellate Tribunal (ITAT), Bangalore bench has held that the payment of bonus to partners of a Company can be allowed as a deduction under section 36(1)(ii) of the Income Tax Act.
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M/s ASK Partners, Ajmer (Raj.) vs ACIT, Circle-2, Ajmer
The Jaipur bench of the Income Tax Appellate Tribunal (ITAT) has held that the payment of interest to partners by a partnership firm according to the partnership deed cannot be disallowed by invoking section 14A of the Income Tax Act, 1961.
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Income Tax
Commissioner of Income Tax -17 vs Kalpana Hansraj
A division bench of the Bombay High Court has held that the sale of ‘under construction property’ cannot be regarded as the sale of residential unit for the purpose of denying the benefit of exemption under Section 54F of the Income Tax Act, 1961.
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SERVICE TAX
Meinhardt Singapore Pte. Ltd. Vs Commissioner Of Service Tax, New Delhi
A two-judge bench of the Delhi High Court has held that the delay in payment of service tax due to the operation of a Centralized System cannot be considered as a reasonable ground to escape from the penalty proceedings.
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GST
Torrent Power Ltd. vs Union Of India
A two-judge bench of the Gujarat High Court has nullified the clause 4(i) of Circular dated 1.3.2018 issued by the Central Board of Indirect Taxes and Customs (CBIC) which deals with the imposition of GST on Distribution Companies.
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M/S Bipson Surgical (India) Pvt. Ltd., vs State of Gujarat
The Gujarat High Court has ruled that, price revision will not be allowed in Contract due to the change in Goods and Services Tax (GST). “In the present case the liability to pay GST under the GST / CGST Act is upon the supplier. As observed hereinabove the price quoted and the rate contract was inclusive of all the levies and taxes. Therefore, the petitioners shall not be entitled to the revision of price as sought”, the bench said.
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VAT
Sanjose Parish Hospital, Thrissur & Anr vs State of Kerala
A three-judge bench of the Kerala High Court has held that the supply of medicines, consumables, and implants provided by the hospitals to in-patients during the course of the medical treatment is not subject to Value Added Tax ( VAT ) as same would constitute ‘composite supply.’
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Press Note dated 24.01.2019: On grant of Presidential Awards to the officers of the Central Board of Indirect Taxes and Customs and Directorate of Enforcement on the eve of the Republic Day 2019.
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Press Release dated 25.01.2019: Investiture Ceremony & International Customs Day 25th January 2019.
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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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