Daily Archives: June 2, 2018

DRI seizes 32 Kg. Of Gold worth Rs 10.32 Crore

By | June 2, 2018

Ministry of Finance DRI seizes 32 Kg. Of Gold worth Rs 10.32 Crore in one of the biggest seizures of Smuggled Gold in Recent past in East and Northeast India Posted On: 02 JUN 2018 12:14PM by PIB Delhi Acting on an specific  intelligence, the officers of Directorate of Revenue Intelligence (DRI) have effected a… Read More »

Category: GST

Taxability of gift of shares to “sister concern” under family realignment

By | June 2, 2018

Taxability of gift of shares to “sister concern” under family realignment The Delhi Bench of the Income-tax Appellate Tribunal addressed the taxability of a gift of shares to a sister concern under a family realignment “without consideration.” The case is: Gagan Infraenergy Ltd. Read a May 2018 report[PDF 423 KB] Read KPMG Report   Income Tax on… Read More »

Make appropriate changes in GST portal for filing returns as late registration was granted: HC

By | June 2, 2018

HIGH COURT OF KERALA St. Josephs Tea Company Ltd. v. Chief Commissioner, Central GST & Central Excise, Kerala P.B. SURESH KUMAR, J. W.P. (C) NO. 768 OF 2018 MARCH  28, 2018 Smt. Nisha John, Adv. for the Petitioner. Sreelal N. Warrier, SC and P.R. Sreejith, SC for the Respondent. JUDGMENT 1. Petitioner was a registered dealer under the Kerala Value… Read More »

Supply of tiles is job work if raw materials were supplied by contractee: HC

By | June 2, 2018

HIGH COURT OF UTTARAKHAND Commissioner, commercial Tax, Uttarakhand v. Jai Durge K.M. JOSEPH, CJ. AND SHARAD KUMAR SHARMA, JJ. COMMERCIAL TAX REVISION NO. 24 OF 2010 APRIL  10, 2018 Mohit Maulekhi, Brief Holder for the Appellant. S.K. Posti, Adv. for the Respondent. ORDER K. M. Joseph, C.J. – The revisionist called in question the order dated 01-06-2009 passed by the… Read More »

Section 115 of Sikkim GST Act 2017 : Interest on refund of amount paid for admission of appeal

By | June 2, 2018

Section 115 of Sikkim GST Act 2017 [ Section 115 of Sikkim GST Act 2017 explains Interest on refund of amount paid for admission of appeal and is covered in  CHAPTER XVIII  APPEALS AND REVISION] [ Enforced with effect from 1-7-2017. ] Interest on refund of amount paid for admission of appeal 115. Where an amount paid by the appellant under… Read More »

Section 114 of Sikkim GST Act 2017 : Financial and administrative powers of State President

By | June 2, 2018

Section 114 of Sikkim GST Act 2017 [ Section 114 of Sikkim GST Act 2017 explains Financial and administrative powers of State President and is covered in  CHAPTER XVIII  APPEALS AND REVISION] [ Enforced with effect from 1-7-2017. ] Financial and administrative powers of State President 114. The State President shall exercise such financial and administrative powers over the State Bench… Read More »

Section 113 of Sikkim GST Act 2017 : Orders of Appellate Tribunal

By | June 2, 2018

Section 113 of Sikkim GST Act 2017 [ Section 113 of Sikkim GST Act 2017 explains Orders of Appellate Tribunal and is covered in  CHAPTER XVIII  APPEALS AND REVISION] [ Enforced with effect from 1-7-2017. ] Orders of Appellate Tribunal 113. (1) The Appellate Tribunal may, after giving the parties to the appeal an opportunity of being heard, pass such orders… Read More »

Section 112 of Sikkim GST Act 2017 : Appeals to Appellate Tribunal

By | June 2, 2018

Section 112 of Sikkim GST Act 2017 [ Section 112 of Sikkim GST Act 2017 explains Appeals to Appellate Tribunal and is covered in  CHAPTER XVIII  APPEALS AND REVISION] [ Enforced with effect from 1-7-2017. ] Appeals to Appellate Tribunal 112. (1) Any person aggrieved by an order passed against him under section 107 or section 108 of this Act or… Read More »

Section 111 of Sikkim GST Act 2017 : Procedure before Appellate Tribunal.

By | June 2, 2018

Section 111 of Sikkim GST Act 2017 [ Section 111 of Sikkim GST Act 2017 explains Procedure before Appellate Tribunal. and is covered in  CHAPTER XVIII  APPEALS AND REVISION] [ Enforced with effect from 1-7-2017. ] Procedure before Appellate Tribunal. 111. (1) The Appellate Tribunal shall not, while disposing of any proceedings before it or an appeal before it, be bound… Read More »

Section 110 of Sikkim GST Act 2017 : President and Members of Appellate Tribunal, their qualification, appointment, conditions of service, etc.

By | June 2, 2018

Section 110 of Sikkim GST Act 2017 [ Section 110 of Sikkim GST Act 2017 explains President and Members of Appellate Tribunal, their qualification, appointment, conditions of service, etc. and is covered in  CHAPTER XVIII  APPEALS AND REVISION] [ Enforced with effect from 1-7-2017. ] President and Members of Appellate Tribunal, their qualification, appointment, conditions of service, etc. 110. The qualifications,… Read More »

Section 109 of Sikkim GST Act 2017 : Appellate Tribunal and Benches thereof

By | June 2, 2018

Section 109 of Sikkim GST Act 2017 [ Section 109 of Sikkim GST Act 2017 explains Appellate Tribunal and Benches thereof and is covered in  CHAPTER XVIII  APPEALS AND REVISION] [ Enforced with effect from 1-7-2017. ] Appellate Tribunal and Benches thereof 109. (1) Subject to the provisions of this Chapter, the Goods and Services Tax Tribunal constituted under the Central… Read More »

Section 108 of Sikkim GST Act 2017 : Powers of Revisional Authority

By | June 2, 2018

Section 108 of Sikkim GST Act 2017 [ Section 108 of Sikkim GST Act 2017 explains Powers of Revisional Authority and is covered in  CHAPTER XVIII  APPEALS AND REVISION] [ Enforced with effect from 1-7-2017. ] Powers of Revisional Authority 108. (1) Subject to the provisions of section 121 and any rules made thereunder, the Revisional Authority may, on his own… Read More »

Section 107 of Sikkim GST Act 2017 : Appeals to Appellate Authority

By | June 2, 2018

Section 107 of Sikkim GST Act 2017 [ Section 107 of Sikkim GST Act 2017 explains Appeals to Appellate Authority and is covered in  CHAPTER XVIII  APPEALS AND REVISION] [ Enforced with effect from 1-7-2017. ] Appeals to Appellate Authority 107. (1) Any person aggrieved by any decision or order passed under this Act or the Central Goods and Services Tax Act by… Read More »

Section 106 of Sikkim GST Act 2017 : Procedure of Authority and Appellate Authority

By | June 2, 2018

Section 106 of Sikkim GST Act 2017 [ Section 106 of Sikkim GST Act 2017 explains Procedure of Authority and Appellate Authority and is covered in  CHAPTER XVII  ADVANCE RULING] [ Enforced with effect from 1-7-2017. ] Procedure of Authority and Appellate Authority 106. The Authority or the Appellate Authority shall, subject to the provisions of this Chapter, have power to… Read More »

Section 105 of Sikkim GST Act 2017 : Powers of Authority and Appellate Authority

By | June 2, 2018

Section 105 of Sikkim GST Act 2017 [ Section 105 of Sikkim GST Act 2017 explains Powers of Authority and Appellate Authority and is covered in  CHAPTER XVII  ADVANCE RULING] [ Enforced with effect from 1-7-2017. ] Powers of Authority and Appellate Authority 105. (1) The Authority or the Appellate Authority shall, for the purpose of exercising its powers regarding –… Read More »

Section 104 of Sikkim GST Act 2017 : Advance ruling to be void in certain circumstances

By | June 2, 2018

Section 104 of Sikkim GST Act 2017 [ Section 104 of Sikkim GST Act 2017 explains Advance ruling to be void in certain circumstances and is covered in  CHAPTER XVII  ADVANCE RULING] [ Enforced with effect from 1-7-2017. ] Advance ruling to be void in certain circumstances 104. (1) Where the Authority or the Appellate Authority finds that advance ruling pronounced… Read More »

Section 103 of Sikkim GST Act 2017 : Applicability of advance ruling

By | June 2, 2018

Section 103 of Sikkim GST Act 2017 [ Section 103 of Sikkim GST Act 2017 explains Applicability of advance ruling and is covered in  CHAPTER XVII  ADVANCE RULING] [ Enforced with effect from 1-7-2017. ] Applicability of advance ruling 103. (1) The advance ruling pronounced by the Authority or the Appellate Authority under this Chapter shall be binding only – (a)… Read More »

Section 102 of Sikkim GST Act 2017 : Rectification of advance ruling

By | June 2, 2018

Section 102 of Sikkim GST Act 2017 [ Section 102 of Sikkim GST Act 2017 explains Rectification of advance ruling and is covered in  CHAPTER XVII  ADVANCE RULING] [ Enforced with effect from 1-7-2017. ] Rectification of advance ruling 102. The Authority or the Appellate Authority may amend any order passed by it under section 98 or section 101, so as… Read More »

Section 101 of Sikkim GST Act 2017 : Orders of Appellate Authority

By | June 2, 2018

Section 101 of Sikkim GST Act 2017 [ Section 101 of Sikkim GST Act 2017 explains Orders of Appellate Authority and is covered in  CHAPTER XVII  ADVANCE RULING] [ Enforced with effect from 1-7-2017. ] Orders of Appellate Authority 101. (1) The Appellate Authority may, after giving the parties to the appeal or reference an opportunity of being heard, pass such… Read More »

Section 100 of Sikkim GST Act 2017 : Appeal to the Appellate Authority

By | June 2, 2018

Section 100 of Sikkim GST Act 2017 [ Section 100 of Sikkim GST Act 2017 explains Appeal to the Appellate Authority and is covered in  CHAPTER XVII  ADVANCE RULING] [ Enforced with effect from 1-7-2017. ] Appeal to the Appellate Authority 100. (1) The concerned officer, the jurisdictional officer or an applicant aggrieved by any advance ruling pronounced under sub-section (4)… Read More »

Section 99 of Sikkim GST Act 2017 : Constitution of Appellate Authority for Advance Ruling

By | June 2, 2018

Section 99 of Sikkim GST Act 2017 [ Section 99 of Sikkim GST Act 2017 explains Constitution of Appellate Authority for Advance Ruling and is covered in  CHAPTER XVII  ADVANCE RULING] [ Enforced with effect from 1-7-2017. ] Constitution of Appellate Authority for Advance Ruling 99. The Government shall, by notification, constitute an Authority to be known as Sikkim Appellate Authority… Read More »

Section 98 of Sikkim GST Act 2017 : Procedure on receipt of application

By | June 2, 2018

Section 98 of Sikkim GST Act 2017 [ Section 98 of Sikkim GST Act 2017 explains Procedure on receipt of application and is covered in  CHAPTER XVII  ADVANCE RULING] [ Enforced with effect from 1-7-2017. ] Procedure on receipt of application 98. (1) On receipt of an application, the Authority shall cause a copy thereof to be forwarded to the concerned… Read More »

Section 97 of Sikkim GST Act 2017 : Application for advance ruling

By | June 2, 2018

Section 97 of Sikkim GST Act 2017 [ Section 97 of Sikkim GST Act 2017 explains Application for advance ruling and is covered in  CHAPTER XVII  ADVANCE RULING] [ Enforced with effect from 1-7-2017. ] Application for advance ruling 97. (1) An applicant desirous of obtaining an advance ruling under this Chapter may make an application in such form and manner… Read More »

Section 95 of Sikkim GST Act 2017 : Definitions : Advance Rulings

By | June 2, 2018

Section 95 of Sikkim GST Act 2017 [ Section 95 of Sikkim GST Act 2017 explains Definitions and is covered in  CHAPTER XVII  ADVANCE RULING] [ Enforced with effect from 1-7-2017. ] Definitions 95. In this Chapter, unless the context otherwise requires,–– (a) “advance ruling” means a decision provided by the Authority or the Appellate Authority to an applicant on matters… Read More »

Section 96 of Sikkim GST Act 2017 : Constitution of Authority for Advance Ruling

By | June 2, 2018

Section 96 of Sikkim GST Act 2017 [ Section 96 of Sikkim GST Act 2017 explains Constitution of Authority for Advance Ruling and is covered in  CHAPTER XVII  ADVANCE RULING] [ Enforced with effect from 1-7-2017. ] Constitution of Authority for Advance Ruling 96. (1) The Government shall, by notification, constitute an Authority to be known as the Sikkim Authority for… Read More »

Section 94 of Sikkim GST Act 2017 : Liability in other cases

By | June 2, 2018

Section 94 of Sikkim GST Act 2017 [ Section 94 of Sikkim GST Act 2017 explains Liability in other cases and is covered in  CHAPTER XVI  LIABILITY TO PAY IN CERTAIN CASES] [ Enforced with effect from 1-7-2017. ] Liability in other cases 94. (1) Where a taxable person is a firm or an association of persons or a Hindu Undivided… Read More »

Section 93 of Sikkim GST Act 2017 : Special provisions regarding liability to pay tax, interest or penalty in certain cases

By | June 2, 2018

Section 93 of Sikkim GST Act 2017 [ Section 93 of Sikkim GST Act 2017 explains Special provisions regarding liability to pay tax, interest or penalty in certain cases and is covered in  CHAPTER XVI  LIABILITY TO PAY IN CERTAIN CASES] [ Enforced with effect from 1-7-2017. ] Special provisions regarding liability to pay tax, interest or penalty in certain… Read More »

Section 92 of Sikkim GST Act 2017 : Liability of Court of Wards, etc.

By | June 2, 2018

Section 92 of Sikkim GST Act 2017 [ Section 92 of Sikkim GST Act 2017 explains Liability of Court of Wards, etc. and is covered in  CHAPTER XVI  LIABILITY TO PAY IN CERTAIN CASES] [ Enforced with effect from 1-7-2017. ] Liability of Court of Wards, etc. 92. Where the estate or any portion of the estate of a taxable person… Read More »

Section 91 of Sikkim GST Act 2017 : Liability of guardians, trustees etc.

By | June 2, 2018

Section 91 of Sikkim GST Act 2017 [ Section 91 of Sikkim GST Act 2017 explains Liability of guardians, trustees etc. and is covered in  CHAPTER XVI  LIABILITY TO PAY IN CERTAIN CASES] [ Enforced with effect from 1-7-2017. ] Liability of guardians, trustees etc. 91. Where the business in respect of which any tax, interest or penalty is payable under… Read More »

Section 90 of Sikkim GST Act 2017 : Liability of partners of firm to pay tax

By | June 2, 2018

Section 90 of Sikkim GST Act 2017 [ Section 90 of Sikkim GST Act 2017 explains Liability of partners of firm to pay tax and is covered in  CHAPTER XVI  LIABILITY TO PAY IN CERTAIN CASES] [ Enforced with effect from 1-7-2017. ] Liability of partners of firm to pay tax 90. Notwithstanding any contract to the contrary and any other… Read More »

Section 89 of Sikkim GST Act 2017 : Liability of directors of private company

By | June 2, 2018

Section 89 of Sikkim GST Act 2017 [ Section 89 of Sikkim GST Act 2017 explains Liability of directors of private company and is covered in  CHAPTER XVI  LIABILITY TO PAY IN CERTAIN CASES] [ Enforced with effect from 1-7-2017. ] Liability of directors of private company 89. (1) Notwithstanding anything contained in the Companies Act, 2013 (18 of 2013), where… Read More »

Section 88 of Sikkim GST Act 2017 : Liability in case of company in liquidation

By | June 2, 2018

Section 88 of Sikkim GST Act 2017 [ Section 88 of Sikkim GST Act 2017 explains Liability in case of company in liquidation and is covered in  CHAPTER XVI  LIABILITY TO PAY IN CERTAIN CASES] [ Enforced with effect from 1-7-2017. ] Liability in case of company in liquidation 88. (1) When any company is being wound up whether under the… Read More »

Section 87 of Sikkim GST Act 2017 : Liability in case of amalgamation or merger of companies

By | June 2, 2018

Section 87 of Sikkim GST Act 2017 [ Section 87 of Sikkim GST Act 2017 explains Liability in case of amalgamation or merger of companies and is covered in  CHAPTER XVI  LIABILITY TO PAY IN CERTAIN CASES] [ Enforced with effect from 1-7-2017. ] Liability in case of amalgamation or merger of companies 87. (1) When two or more companies are… Read More »

Section 86 of Sikkim GST Act 2017 : Liability of agent and principal

By | June 2, 2018

Section 86 of Sikkim GST Act 2017 [ Section 86 of Sikkim GST Act 2017 explains Liability of agent and principal and is covered in  CHAPTER XVI  LIABILITY TO PAY IN CERTAIN CASES] [ Enforced with effect from 1-7-2017. ] Liability of agent and principal 86. Where an agent supplies or receives any taxable goods on behalf of his principal, such… Read More »

Section 85 of Sikkim GST Act 2017 : Liability in case of transfer of business

By | June 2, 2018

Section 85 of Sikkim GST Act 2017 [ Section 85 of Sikkim GST Act 2017 explains Liability in case of transfer of business and is covered in  CHAPTER XVI  LIABILITY TO PAY IN CERTAIN CASES] [ Enforced with effect from 1-7-2017. ] Liability in case of transfer of business 85. (1) Where a taxable person, liable to pay tax under this… Read More »

Section 84 of Sikkim GST Act 2017 : Continuation and validation of certain recovery proceedings

By | June 2, 2018

Section 84 of Sikkim GST Act 2017 [ Section 84 of Sikkim GST Act 2017 explains Continuation and validation of certain recovery proceedings and is covered in  CHAPTER XV  DEMANDS AND RECOVERY] [ Enforced with effect from 1-7-2017. ] Continuation and validation of certain recovery proceedings 84. Where any notice of demand in respect of any tax, penalty, interest or any… Read More »

Section 83 of Sikkim GST Act 2017 : Provisional attachment to protect revenue in certain cases

By | June 2, 2018

Section 83 of Sikkim GST Act 2017 [ Section 83 of Sikkim GST Act 2017 explains Provisional attachment to protect revenue in certain cases and is covered in  CHAPTER XV  DEMANDS AND RECOVERY] [ Enforced with effect from 1-7-2017. ] Provisional attachment to protect revenue in certain cases 83. (1) Where during the pendency of any proceedings under section 62 or… Read More »

Section 82 of Sikkim GST Act 2017 : Tax to be first charge on property

By | June 2, 2018

Section 82 of Sikkim GST Act 2017 [ Section 82 of Sikkim GST Act 2017 explains Tax to be first charge on property and is covered in  CHAPTER XV  DEMANDS AND RECOVERY] [ Enforced with effect from 1-7-2017. ] Tax to be first charge on property 82. Notwithstanding anything to the contrary contained in any law for the time being in… Read More »

Section 81 of Sikkim GST Act 2017 : Transfer of property to be void in certain cases

By | June 2, 2018

Section 81 of Sikkim GST Act 2017 [ Section 81 of Sikkim GST Act 2017 explains Transfer of property to be void in certain cases and is covered in  CHAPTER XV  DEMANDS AND RECOVERY] [ Enforced with effect from 1-7-2017. ] Transfer of property to be void in certain cases 81. Where a person, after any amount has become due from… Read More »

Section 80 of Sikkim GST Act 2017 : Payment of tax and other amount in instalments

By | June 2, 2018

Section 80 of Sikkim GST Act 2017 [ Section 80 of Sikkim GST Act 2017 explains Payment of tax and other amount in instalments and is covered in  CHAPTER XV  DEMANDS AND RECOVERY] [ Enforced with effect from 1-7-2017. ] Payment of tax and other amount in instalments 80. On an application filed by a taxable person, the Commissioner may, for… Read More »

GST Audit Report : Complete Guide

By | June 2, 2018

GST Audit Report Here is the brief Summary of GST Audit Report as per GST Act of India. GST Audit Report if self Audit is done by Taxable person under GST Every registered person whose aggregate turnover during a financial year exceeds two crore rupees shall get his accounts audited as specified under sub-section (5) of section 35 and he shall furnish a copy of audited… Read More »

New Income Tax News 02.06.2018

By | June 2, 2018

New Income Tax News 02.06.2018 New Income Tax News Income Tax Calendar 2018-19 Major Changes in Income Tax Act w.e.f 01.04.2018 Income Tax Dept. issues Revised Income Tax Informants Reward Scheme 2018 New Benami Transactions Informants Reward Scheme 2018 launched Income Tax on Benami Property : Free Study material TDS Rates for AY 2019-20 (FY… Read More »

New Benami Transactions Informants Reward Scheme 2018 launched

By | June 2, 2018

Ministry of Finance New Benami Transactions Informants Reward Scheme, 2018 launched by the Income Tax Department To get people’s participation in the Income Tax Department’s efforts to unearth black money and to reduce tax evasion   Posted On: 01 JUN 2018 1:13PM by PIB Delhi It was found in many cases that black money was… Read More »

Income Tax Dept. issues Revised Income Tax Informants Reward Scheme 2018 

By | June 2, 2018

Ministry of Finance Income Tax Department issues Revised Income Tax Informants Reward Scheme, 2018 Posted On: 01 JUN 2018 1:09PM by PIB Delhi With the objective of obtaining people’s participation in the Income Tax Department’s efforts to unearth black money and reduce tax evasion, a new reward scheme titled “Income Tax Informants Reward Scheme, 2018”… Read More »