Central Tax (Rate)

GST - service supplied by State Govt. - PSUs - guaranteeing loans - Taxscan

No GST on Service supplied by State Govt. to their undertakings or PSUs by way of guaranteeing Loans taken by them [Read Circular]

June 17, 2021

GST - construction services of structure for funeral - burial or cremation of deceased - CBIC - Taxscan

5% GST leviable on Construction Services of Structure for Funeral, Burial or Cremation of deceased till 30 Sept: CBIC [Read Notification]

June 15, 2021

GST Exemption - Operation and Maintenance of High Quality Treated Drinking Water Plant - Amma Kudineer Project - AAR - Taxscan

No GST Exemption on Operation and Maintenance of High Quality Treated Drinking Water Plant for the ‘Amma Kudineer Project’: AAR

April 21, 2021

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NSE - BSE transaction charges - SEBI turnover fees - stock broker service - CESTAT - Taxscan

NSE / BSE Transaction Charges and SEBI Turnover Fees is not liable to Service Tax under Head of ‘Stock Broker Service’: CESTAT [Read Order]

September 22, 2021

The Ahmedabad Bench of Customs Excise and Service Tax Appellate Tribunal (CESTAT) ruled that NSE/BSE transaction charges and SEBI turnover fees are not liable to service tax under the head of “stockbroker service”. The appellant, Monarch Research & Brokerage P Ltd is engaged in providing Service under the category of Stock Broker as defined under […]

Suppression of facts has to be ‘wilful’ with an intent to Evade Payment of Service Tax: CESTAT [Read Order]

September 22, 2021

The Delhi Bench of Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) ruled that suppression of facts has to be “wilful” with an intent to evade payment of Service Tax. The appellant, M/s. SOTC Travels Services Pvt. Ltd. is engaged in rendering air travel agents and other tour-related services. During the period of dispute from […]

Limitation Period for Penalty Order does not apply to Penalty Proceeding u/s 271D & 271E: ITAT [Read Order]

September 22, 2021

The Banglore Bench of Income Tax Appellate Tribunal (ITAT) held that the limitation period for penalty order does not apply to penalty proceedings under sections 271D and 271E of the Income Tax Act. The Assessee in the course of assessment proceedings for AY 2009- 10 to 2011-12, AO noticed that the Assessee had repaid cash […]

ICAI - Exposure Draft - Deferred Tax - Taxscan

ICAI Amends Exposure Draft of Deferred Tax related to Assets and Liabilities arising from a Single Transaction

September 22, 2021

The Institute of Chartered Accountants of India (ICAI) has amended the provisions of Exposure Draft of Deferred Tax related to Assets and Liabilities arising from a Single Transaction to ease diversity in the reporting of deferred tax on leases and decommissioning obligations. The Accounting Board of the Institute recently issued the Exposure Draft of amendments […]

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NSE / BSE Transaction Charges and SEBI Turnover Fees is not liable to Service Tax under Head of ‘Stock Broker Service’: CESTAT [Read Order]

September 22, 2021

Suppression of facts has to be ‘wilful’ with an intent to Evade Payment of Service Tax: CESTAT [Read Order]

September 22, 2021

Limitation Period for Penalty Order does not apply to Penalty Proceeding u/s 271D & 271E: ITAT [Read Order]

September 22, 2021

ICAI Amends Exposure Draft of Deferred Tax related to Assets and Liabilities arising from a Single Transaction

September 22, 2021

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