News Update

Govt orders mandatory declaration of stock position of wheatCPI gets Rs 11 Cr tax notice for using old PAN numberGST - Penalty demand of Rs.3731 crores - A person who would fall within the purview of sub-section (1-A) of s.122 should necessarily be a taxable person who retains the benefits of transactions: HCGovt issues advisory against calls impersonating DoTFATP hand-wrings over slow regulation of crypto by member-countriesGST - Threatening and pressurising petitioner who is merely an employee - Highly unconscionable and disproportionate on the part of the officer: HCECI's C-Vigil app a big hit with votersGST - Same relief was claimed in earlier petition which was withdrawn unconditionally - Fresh petition seeking same relief is barred by the estoppel principle: HCIncome tax hands over Rs 1700 Cr tax demand to Congress PartyGST - Neither SCN nor the order spell out the reasons for retrospective cancellation of registration, hence cannot be sustained: HCStage-2 of Vikram-1 orbital rocket successfully test-firedGST - Non-application of mind - If reply was unsatisfactory, details could have been sought - Record does not reflect that such exercise was done - Matter remitted: HCHouthis claim UK has not capability to intercept their hypersonic missilesGST - Merely because a taxpayer has not filed returns for some period does not mean that registration is required to be cancelled with retrospective date also covering the period when returns were filed and taxpayer was compliant: HCIsraeli forces kill 200 Palestinians at Gaza medical complex & arrest over 1000GST - Petitioner's reply, although terse, is not taken into account while passing assessment orders - Petitioner put on terms, another opportunity provided: HCUnveil One Nation; One Debt Code; One Compliance Rule for Centre & StatesChina moves WTO against US tax subsidies for EVs & renewable energyMore on non-doms - The UK Spring Budget 2024 (See TII Edit)Training Program for Cambodian civil servants commences at MussoorieCBIC revises tariff value of edible oils, gold & silverCBIC directs all Customs offices to remain open on Saturday & SundayI-T- Once the citizen deposits the tax upon coming to know of his liability, it cannot be said that he has deliberately or willfully evaded the depositing of tax and interest in terms of Section 234A can be waived: HCHouthis attack continues in Red Sea; US military shoots down 4 dronesCus - No Cess is payable when Basic Customs Duty is found to be Nil: CESTAT
 
ST - Statutory Amendments - Impact

By TIOL News Service

NEW DELHI, FEB 28, 2015: AMUSEMENT to be taxed : Service Tax shall be levied on the service provided by way of accessto amusement facility providing fun or recreation by means ofrides, gaming devices or bowling alleys in amusement parks,amusement arcades, water parks and theme parks.

Concerts to cost more : Service tax to be levied on service by way of admission toentertainment event of concerts, pageants, musical performancesconcerts, award functions and sporting events other than therecognized sporting event, if the amount charged is more thanRs. 500 for right to admission to such an event.

Chit Fund and Lottery brought to Tax, negating Court decisions : Activities undertaken by chit fund foremen in relation to chit, and Lottery distributors and selling agents, in relation to lotteries now constitute service. Definition service [section65 B (44)] amended to include these activities.

RBI not left alone : Banks providing agency service to or in relation to services of RBI, are now liable to pay Service Tax.

Positive government ?:Certain Services, provided by the government are included in the Negative List and specified services received by the government are also exempt. However, these exclusion/exemption applicable if an entity is a “Government” as per the following definition of ‘Government' now being inserted-

What is Government? Look for the definition . “Government” means the Departments of the Central Government, a State Governmentand its Departments and a Union territory and its Departments, but shall not include any entity, whether created by a statute or otherwise, the accounts of which are not required to be kept in accordance with article 150 of the Constitution or the rules made thereunder.

Why should Government define government? The TRUJS says, “ Hitherto, the term “government” hasnot been defined in the Act or the notification. This has given rise tointerpretational issues. To address such issues, a definition of the term“government” is being incorporated in the Act.”


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