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Where no tax has ever gone beforeNHAI debars Toll Operating Agency for misbehaving with Highway UsersOMCs' FY24 combined profit rises over 25-times year-on-yearTechnology Council reviews status of induction of DRDO technologies into CAPFs, Police & NDRFGovt organizes workshop on Quality Control in Green HydrogenI-T - Assessing Officer cannot deny benefit merely on basis of documentation: ITATWhite House expected to up tariffs on several Chinese goods in coming weekI-T - AO shall grant resultant benefit u/s 50C on sale of immovable property, by taking valuation based on sheet of registrar: ITATJaishankar to take up Kartarpur entry fee of USD 20 with PakistanI-T - Interest income earned by agricultural cooperative society from investment out of its surplus funds is eligible for benefit of Section 80P(2)(a): ITATWHO reports some progress on pandemic treaty but deadline is missedGST - Mens rea to evade tax is essential for imposition of penalty, revenue is directed to refund the amount of tax and penalty deposited by petitioner: HCKCR says regional parties can form Govt at Delhi with outside support from NDA or INDIAGST - When the statute provides for procedure for hearing, Constitutional Courts are duty bound to uphold such procedure and must ensure that meaningful opportunity of hearing must be provided: HCSevere solar storm envelopes earth; may disrupt power grids and communicationsST - As per settled position in law, liability to Service Tax on Works Contract Service could only be after 01.07.2010 - Demand raised for period prior to such date is not tenable: CESTATTrump’s youngest son Barron backs out of Republican Party’s July conventionCus - Regulation 10(n) of CBLR 2013 is not contravened, where broker verified antecedents & correctness of IEC, KYC, GST documents on DGFT, GST & I-T portals, before clearance of goods; revocation of broker's license not tenable: CESTATIndustrial production tapers down to 4.9% in March monthCX - Extended limitation is to be invoked only if requisite ingredients of fraud, collusion, wilful mis-statement or suppression of fact, have been established; cannot be invoked merely because assessee operates under self-assessment: CESTATSC grants interim bail to Kejriwal only for poll-related activitiesCX - Provisions for normal period of limitation will be rendered otiose if extended limitation is invoked in cases of assessees operating under self-assessment or if AO invokes extended limitation based on own opinion: CESTATDeath toll in TN cracker unit blast rises to 10CX - Return forms are designed by the Government & not by an assessee - Assessee cannot be faulted for not disclosing any information which was not required to be disclosed: CESTATBJD promises to make Odisha No 1 State by 2036; Manifesto promises AI UnivCX - Intention to evade duties is always secret for which documentary evidence will not be available but if record indicates prima facie case and assessee is not able to give plausible explanation then allegation is proved: CESTAT

MESSAGE BOARD

   

Hasty passage of GST Bills - Customs loses power to levy IGST on Import of Goods!!


Avoidable Complications in GST law

Implementation of GST by the industries will be a herculean task as it is a radical shift in concepts and procedures. Therefore the process should have been kept as simple as possible initially and complex processes introduced later, if required. In this regard it may be considered as to the necessity of GST being levied on Advance payments- it will lead to complications without commensurate revenue for the Government. Again why should there be TDS/TCS when the entire system is touted to be online. In indirect taxes, the TDS mechanism was introduced not so much for revenue collection but to nab evaders.
Things appear to have been blindly copied from existing legislations without application of mind and thought for the assessees who have to implement new systems.

Harakamal Chakravorty 06/04/2017

 

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