Taxscan | Simplifying Tax Laws
  • CST & VAT / GST
  • Madras HC directs GST Authorities to facilitate the uploading of Form TRAN-1 [Read Order]
  • April 17, 2021
April 17, 2021
The Delhi High court temporarily amended physical mode of service of notice, summons, daks by permitting through email, fax or whatsapp due to Second Wave of COVID-19. The Registrar of Delhi High Court in the circular said that “in view of the spurt of number of corona positive cases in all over Delhi, the process […]
April 17, 2021
The Income Tax Appellate Tribunal (ITAT), Allahabad Bench directed the assessee, Bharat Pumps & Compressors Ltd. (BPC)  to produce excise records and permission from the excise department to set up a bonded warehouse within factory premises before the Assessing Officer. The assessee, Bharat Pumps & Compressors Ltd. is a Public Sector Enterprise being Government of […]
April 16, 2021
The Gujarat Authority of Advance Ruling (AAR) ruled that the services of stevedoring, storage, bagging, stuffing, again transportation of the goods temporarily imported to India to be ‘export of service’ from 1 February 2019. The applicant M/s. Manoj Bhagwan Mansukhani (M/s.Rishi Shipping) has submitted that the foreign supplier cannot afford to pay GST on their […]

  • TDS - Income Tax Act - Taxscan
  • TDS under Income Tax Act: All You Need to Know
  • April 13, 2021
  • INTRODUCTION Tax is a compulsory payment imposed by the government or the authority for the services rendered for the citizens. Income tax is a form of taxation in which the tax is collected on the basis of the income generated from a business. Tax deducted at source (TDS) is one of the modes of collecting […]
Delay - filing of Income Tax Return - Financial Difficulties - ITAT - Penalty - taxscan
April 17, 2021

The Income Tax Appellate Tribunal (ITAT), Bangalore bench, upheld an order of the first appellate authority where the CIT(A) deleted a penalty order imposing Rs. 5000 on a Company for non-furnishing of income tax returns within the prescribed time. The authority found that the reason for delay was financial difficulties which constitute a reasonable cause […]

Income Tax on Interest - Enhanced Compensation - Compulsory Acquisition of Land - ITAT - Taxscan
April 17, 2021

The Income Tax Appellate Tribunal (ITAT), Delhi bench, while allowing an appeal filed by an assessee, an individual, held that no income tax can be levied on the interest received on enhanced compensation from the government towards the compulsory acquisition of land since the same shall be treated as capital receipt and exempted under section […]

Madras HC - Manonmaniam Sundaranar University - Service Tax - renting of immovable property - penalty - Taxscan 2
April 16, 2021
The Madras High Court, Madurai Bench ordered the Manonmaniam Sundaranar University to pay Service Tax for renting of immovable property, but no penalty imposed. The petitioner is a University established by the Manonmaniam Sundaranar University Act, 1990. The Joint Commissioner issued a notice calling upon the petitioner University to show cause as to why certain sums of money should not be paid by them towards service tax. It was also proposed to levy interest and penalty on the said principal
Allahabad High court - grant bail to person - clandestine removal - finished goods - invoice - applicable duties - Taxscan
April 15, 2021

The Allahabad High Court refused to grant bail to a person alleged of clandestine removal of finished goods without issuance of any invoice, without payment of any applicable duties. The applicant, Chhaya Devi is the proprietor of the firm while business of the firm is being managed by the Manager and is in effective control […]

Clandestine Removal - CESTAT - Taxscan
April 13, 2021

The Customs, Excise, and Service Tax Appellate Tribunal (CESTAT), Delhi Bench held that the burden of proof for alleged clandestine removal of goods is upon the department. The present order disposes of four appeals arising out of the order of Commissioner, GST has been assailed before this Tribunal. The said order has been passed in […]

Bombay High Court - Custom Authority - allow clearance - Pigeon Peas - valid registration - Advance Payment Certificate - Taxscan
April 12, 2021

The Bombay High Court directed the Custom Authority to allow clearance of Pigeon Peas as there was valid registration of Advance Payment Certificate. The petitioner, Rika Global Impex Limited is a company incorporated under the Companies Act, 2013 and engaged in the business of import and export of agricultural commodities. Petitioner is a regular importer […]

CESTAT - Adjudicating Authority - credit of refund amount - Consumer Welfare Fund - Taxscan
April 10, 2021

The Customs, Excise, and Service Taxes Appellate Tribunal (CESTAT), directed the  Adjudicating Authority to examine in respect of the credit of refund amount to Consumer Welfare Fund. The appellant, M/s Rakesh Canteen Contractor has been awarded the canteen services contract from M/s Caparo Engineering India Limited, by way of running and managing their canteen located […]

December 7, 2020

A two-judge bench of the Madras High Court has denied the benefit of exemption of urban land tax to Chennai Port Trust under the provisions of the Tamil Nadu Urban Land Tax Act of 1996. While considering an appeal filed by the State, Chief Justice Amreshwar Pratap Sahi and Justice Senthilkumar Ramamoorthy ruled that the […]

No plan - impose Property Tax - Union Territory of J&K - LG Manoj Sinha - opposition - Taxscan
October 20, 2020

The Lieutenant Governor (LG) of Jammu and Kashmir, Manoj Sinha while Putting speculations to rest said that the Union Territory administration would not levy any property tax on the people in Jammu and Kashmir. Earlier this month, the Union home ministry had empowered the union territory’s administration to impose the property tax following an amendment […]

Artists - social media influencers - VAT - UAE - Taxscan
March 8, 2021
The UAE’s Federal Tax Authority (FTA) on Sunday said that services provided by artists and social media influencers for consideration are subject to Value Added Tax (VAT). This announcement was shared in the latest Basic Tax Information Bulletin issued by the FTA on the tax treatment of supplies provided by artists and social media influencers. […]
Income Tax on cards - GCC countries - Oman - High Income Earners - IMF - Taxscan
February 14, 2021
The International Monetary Funds said that Oman is weighing up plans to introduce income tax on high earners in 2022 as part of the finance ministry’s 2020-2024 economic scheme and efforts to reduce the fiscal deficit. The plan aims to bring Oman’s fiscal deficit down to 1.7 percent of gross domestic product by 2024, from […]
UAE - introduces - new version - eDirham system - pay Taxes - taxscan
October 13, 2020
The United Arab Emirates ( UAE ) has introduced the new version of eDirham system to pay Taxes. UAE tax registrants have until October 31 to register with the latest version of the eDirham platform, the Federal Tax Authority said. The FTA said it completed its preparations to join the third generation eDirham system, which […]

Investigation by Registrar - Companies Act - Delhi High Court - Taxscan -open
April 17, 2021
The Delhi High Court held that the registrar may call for information, inspect books, conduct inquiries, but only after informing the company of the allegations and giving an opportunity of being heard. The Petitioner, Axis Ispat Private Limited, has filed the petition seeking quashing of the 37 show cause notices, dated 28th January 2021, issued […]
Balance sheets - acknowledgment of debts - Section 18 of Limitation Act - Supreme Court - NCLAT’s Ruling - Taxscan
April 16, 2021
The Supreme Court recently set aside NCLAT’s Ruling in the case of  V Padmakumar v. Stressed Assets Stabilization Fund and held that balance sheets can amount to an acknowledgment of debts under Section 18 of the Limitation Act. The issue raised before the Apex Court bench in appeal was whether an entry made in a […]
Delhi HC -DINs - DSC - Non-Filing - Annual Returns - taxscan
April 16, 2021
The Delhi High Court ordered the reactivate the Director Identification Numbers (DINs) and Digital Signature Certificates (DSCs) of Directors alleged of Non-Filing of Annual Returns. Mr. Aman Malik, the Counsel appearing for the Respondents submits that the writ petition is hopelessly barred by delay and latches as the disqualification took place in 2017 and the […]
IBBI - NLIU - Graduate Insolvency Programme - Taxscan
April 15, 2021
The National Law Institute University (NLIU), Bhopal, has become the first university to be approved by the Insolvency and Bankruptcy Board of India (IBBI) to offer the Graduate Insolvency Programme. The NLIU had submitted the Expression of Interest to the IBBI for the conduct of the Graduate Insolvency Program (GIP) on 15 January, 2021. The […]
NCLAT - application - corporate insolvency resolution process - operational creditor - Taxscan
April 15, 2021
The National Company Law Appellate Tribunal (NCLAT), Delhi Bench upheld the rejection of application for initiation of corporate insolvency resolution process by operational creditor. The Corporate Debtor, M/s. Masters India Pvt. Ltd. had approached the Appellant, Operational Creditor i.e. M/s. Micra Systems Pvt. Ltd. in October, 2016 for development of GST Portal and presentation of […]
Creditors - Resolution Plan - Supreme Court - Taxscan - opengraphCreditors - Resolution Plan - Supreme Court - Taxscan - opengraph
April 14, 2021
The Supreme Court while upholding the “Clean Slate Theory” ruled that creditors can not initiate Proceedings to recover claims not a part of the Resolution Plan. The issue raised in this case was whether, after approval of resolution plan by the Adjudicating Authority a creditor including the Central Government, State Government or any local authority […]
IBBI - Insolvency and Bankruptcy Board of India (Information Utilities) (Amendment) Regulations - Taxscan
April 14, 2021
The Insolvency and Bankruptcy Board of India (IBBI) on Tuesday notified Insolvency and Bankruptcy Board of India (Information Utilities) (Amendment) Regulations, 2021, which seeks to amend the Insolvency and Bankruptcy Board of India (Information Utilities) Regulations, 2017. The Board seeks to insert clauses in regulation 15 (3), after clause (b) namely the minimum service quality […]
NCLT - hearings virtually - Covid-19 Second Wave - Taxscan
April 10, 2021
The National Company Law Tribunal ( NCLT ) has decided to take up regular hearings through Video Conference with effect from April 12 at all NCLT Benches. The sitting hours of the bench have also been modified. Members have been requested to operate from their respective NCLT Bench or Station. As many as 1.3 Lakh […]
Govt - Courts - trial of cases - PMLA - Kerala - taxscan
April 17, 2021

The Ministry of Finance amended the Courts for trial of cases under Prevention of Money Laundering Act, 2002 (PMLA) in Kerala. In consultation with the Chief Justice of the concerned High Court, the Central Government notified the amendments in the notification of the Government of India, Ministry of Finance (Department of Revenue), published in the […]

Govt - Draft Indian Insurance Companies (Foreign Investment) (Amendment) Rules - 2021 - taxscan
April 17, 2021
The Ministry of Finance notified the  Draft Indian Insurance Companies (Foreign Investment) (Amendment) Rules, 2021. “Draft rules to amend the Indian Insurance Companies (Foreign Investment) Rules, 2015, which the Central Government proposes to make in exercise of the powers conferred by section 114 of the Insurance Act, 1938 (4 of 1938), are hereby published for […]
Cheque Bounce Cases - Supreme Court - Taxscan
April 16, 2021
The Supreme Court issued a set of directions to expedite the trial of cheque dishonor cases under Section 138 of the Negotiable Instruments Act. On March 7, 2020 the bench of CJI Bobde and Justice L Nageswara Rao registered the suo moto case to devise methods for expeditious trial of Section 138 NI Act cases. […]
ICMAI - conduct Corporate Laws Quiz - Company Secretaries - CS Students - Taxscan
February 18, 2021

The Corporate Laws Committee of the Institute of Costs Accountants of India (ICMAI) is conducting a Quiz on Corporate Law on the account of celebrating February 2021 as Corporate Law Month on all India basis. The link of the quiz will be made available to the members or students who have registered in the above […]

Simplified Master Class - Input Tax Credit - Legal & Practical Controversies - Nitya Tax - Forward - Taxscan
February 4, 2021

Taxscan in association with NITYA Tax Associates is pleased to announce our next program under Simplified series, a webinar on ‘Input Tax Credit – Concept and Practical Issues’. Input Tax Credit (ITC) is one of key elements of Goods and Services Tax (GST) regime and seamless flow of ITC has always been the objective of […]

Fox Mandal - International Tax Practice - Taxscan
September 9, 2020
Fox Mandal & Associates has appointed Mr. Sandip Mukherjee as Director, International Tax Practice. Sandip would operate from the Pune office and lead the international tax practice of the firm in Southern & Western India. His addition is a part of the firm’s strategic expansion of its Tax Advisory vertical. Sandip has spent about 27+ […]
November 9, 2017
The DMD Advocates has advised Infradigital Technologies Private Limited, a company promoted by Eros Labs Pte. Ltd. in selling its business undertaking engaged in the business of production and distribution of spiritual, devotional and religious audio-visual content and literature to Innertech Media Solutions Private Limited. Innertech is a portfolio company of Times Internet Limited. The business division was transferred […]
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