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![5% VAT applicable to Centrifugal Monoblock Pumpset and Submersible Pumpset: AAR [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/06/Centrifugal-Monoblock-Pumpset-Taxscan.jpg "5% VAT applicable to Centrifugal Monoblock Pumpset and Submersible Pumpset: AAR [Read Order]")
5% VAT applicable to Centrifugal Monoblock Pumpset and Submersible Pumpset: AAR [Read Order]
The Authority for Clarification And Advanced Ruling, (ACAAR) Tamil Nadu on 22nd May ,clarified that ‘Centrifugal and Monoblock submersible pumbsets’...
![Scraps generated in normal course of Business must be treated as part of Business Income: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/03/Sale-of-Scrap-Tax-Scan.jpg "Scraps generated in normal course of Business must be treated as part of Business Income: ITAT [Read Order]")
![Currency in which the Loan is to be Re-Paid determines the Rate of Return on the Money Lent: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/01/Commercial-Transaction-Loan-Taxscan.jpg "Currency in which the Loan is to be Re-Paid determines the Rate of Return on the Money Lent: ITAT [Read Order]")
![Penalty Charges levied by IRDA can’t be disallowed: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/10/IRDA.jpg "Penalty Charges levied by IRDA can’t be disallowed: ITAT [Read Order]")
![Contract of Erection and Commissioning of the Boiler are Not Excisable: CESTAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/06/Boiler-Taxscan.jpg "Contract of Erection and Commissioning of the Boiler are Not Excisable: CESTAT [Read Order]")
![Re-Opening of Assessment without Application of Mind is Invalid: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/06/ITAT-Agra-Taxscan.jpg "Re-Opening of Assessment without Application of Mind is Invalid: ITAT [Read Order]")
Priority Sector Lending Certificates, Renewable Energy Certificates etc attract Nil GST: CBIC [Read Circular]
The Central Board of Indirect Taxes and Customs (CBIC) has clarified the GST rate applicable to Priority Sector Lending Certificates (PSLCs), Renewable Energy Certificates (RECs) and other similar...
![Priority Sector Lending Certificates, Renewable Energy Certificates etc attract Nil GST: CBIC [Read Circular]](https://www.taxscan.in/wp-content/uploads/2018/06/GST-Settlement-of-Funds-Taxscan.jpg "Priority Sector Lending Certificates, Renewable Energy Certificates etc attract Nil GST: CBIC [Read Circular]")
Addition based on mere Statements during Survey is Invalid without Tangible Materials: ITAT [Read Order]
The ITAT Ahmedabad bench, in ‘DCIT v. M/s Real Strips Ltd, held that any additions based on mere statements during the survey are invalid without tangible materials. A survey was conducted at the...
![Addition based on mere Statements during Survey is Invalid without Tangible Materials: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/04/ITAT-Taxscan.jpg "Addition based on mere Statements during Survey is Invalid without Tangible Materials: ITAT [Read Order]")