Claim of CENVAT Credited in GSTR-3B allowed – HC CUSTOMS, EXCISE & SERVICE TAX APPELLATE TRIBUNALBANGALORE The present appeal is directed against the impugned order dated 4.12.2018 passed by the Commissioner (A), whereby the Commissioner (A) has rejected the appeal of the appellant. 2. Briefly the facts of the present case are that the appellants […]
Expectations from Budget 2020
Expectations from Budget 2020 • Increase in basic exemption limit : With the rise in inflation on the income which is spent out by a person, there is a need to change the exemption limit. It has been observed that the slab rates has remained unchanged since financial year 2014-15. Taking into consideration the relationship […]
CAG shall not carry any further Service Tax audit of private agencies after GST
CAG shall not carry any further Service Tax audit of private agencies after GST – HC IN THE HIGH COURT OF GUJARAT AT AHMEDABAD ORDER 1. The petitioner is a limited Company and is engaged in the business of providing material management and logistical requirements of oil and natural gas industries. The petitioner, on behalf […]
Madras HC denies exemption benefit w.r.t. imports made prior to registration under Rules
Madras HC denies exemption benefit w.r.t. imports made prior to registration under Rules Synopsis : The Hon’ble Madras HC in Civil Miscellaneous Appeal No. 1699 of2017 dated January 6th, 2020, allowed the Revenue’s appeal to hold that to avail the exemption of duty under any Notification, the Rules and Regulations and the conditions prescribed therein […]
Direct Tax Updates During The Period 16.12.2019
Direct Tax Updates During The Period 16.12.2019 – 15.01.2020 I. NOTIFICATIONS 1. Form No 10DA (under Rule 19AB) providing for Report under section 80JJAA of the Income-tax Act, 1961 substituted w.e.f. 18.12.2019 – Notification No. 104/2019, dated 18-12-2019 Where the gross total income of an assessee to whom section 44AB applies, includes any profits and […]
Notification demanding IGST on ocean freight declared as ultra virus
Notification demanding IGST on ocean freight declared as ultra virus As per Order of the Court, The impugned Notification No.8/2017 – Integrated Tax (Rate) dated 28th June 2017 and the Entry 10 of the Notification No.10/2017 – Integrated Tax (Rate) dated 28th June 2017 demanding GST on Ocean Freight are declared as ultra vires the […]
ITC Claim not shown in VAT Return can’t be availed through merely Filing Form 240
ITC Claim not shown in VAT Return can’t be availed through merely Filing Form 240 – HC IN THE HIGH COURT OF KARNATAKA AT BENGALURU The Extract of the Judgment are as follows : Fact of the Case • The petitioners are the dealers registered under the provisions of the Act. • Based on the […]
Taxation law in India – Notes
Click here to read a detailed note on PAN axation is a well known term in our society. We all directly or indirectly pays taxes in our daily life. Some universities teaches Taxation law or Principles of Taxation Law in 6th Semester of LL.B courses. But it is difficult to find a note on Indian […]
Save Long Term Capital Gains Tax from Property
The long-term capital gains from property can be huge especially if the asset was held for really long term. These gains are taxed at 20% + cess (effectively 20.8% from FY 2018-19) which can cause a major dent in the amount received on sale. So if we have an option to save, we must save […]
Can I claim Tax Benefit on both HRA & Home Loan?
Can I claim Tax Benefit for both HRA & Home Loan? – A question which is often asked by many tax payers. This is mainly because many employers do not allow both tax benefits together in certain situations. Unfortunately this is NOT the right thing to do. Both HRA and Home Loan Interest tax sections […]