Everything About Indirect Taxation Efforts will be made to provide updated information on latest judgments, Notifications, Circulars etc.
in the fields of Service Tax, Central Excise, Customs, Foreign Trade Policy, GST
10/08/2021
RULE 86A OF CGST RULES | BLOCKING OF INPUT TAX CREDIT | Adv Nidhi Gupta Rule 86A was introduced by the government vide Notification no. 75/2019 dated 26.12.2019 to block fraudulently availed ITC. This provision gives discretionar...
In the recent budget, amendments in Service Tax law are effective from various dates. To view the effective date wise amendments, please visit the following page.
http://www.bbhushan.in/budget-2016-service-tax-amendments/
BUDGET 2016 - Service Tax Amendments. - B.Bhushan & Associates In budget 2016, various changes are proposed in the Service Tax Law. These Changes are effective from different dates. The said amendments are compiled with respect to the date of their effect. Any further clarification is always welcome. Some amendments which are not conserved important are not…
13/11/2015
Taxindiaonline.com - One Stop Destination for Taxman & Taxpayer : Income Tax, Custom, Excise,... Explanation 2: For the purposes of clause (a), as in force at all material times, "any sum payable" means a sum for which the assessee incurred liability in the previous year even though such sum might not have been payable within that year under the relevant law.
In law classes it is taught that you have to simply state facts and not law as the Judges Know law. However, in reality a failure in citing judgment delivered by the same bench hearing the instant matter, a few months back, on identical facts, may prove disastrous. For details please read my recent article and provide your valuable inputs.
http://www.taxindiaonline.com/RC2/inside2.php3?filename=bnews_detail.php3&newsid=24978
The Hon'ble Supreme Court has held that the Exporter can simulteously claim both the rebates i.e. one of duty paid on the goods exported and also the duty paid on inputs used in manufacture of such goods. For reading summery of the judgment and text of judgment please visit;-
http://bbhushanadv.blogspot.in/2015/10/export-rebate.html
04/10/2015
UNJUST ENRICHMENT & INCOME TAX
The refunds under Indirect taxes have to cross the bar of ‘Unjust Enrichment’. The only possible way to pass the bar of Unjust Enrichment is that the disputed tax /duty is not expensed off in the accounts, but booked as ‘Receivables’. There is a general perception that if the amount of tax / duty is booked as ‘Receivables’ and not ‘Expensed Off’, then deduction of such Tax / duty is not allowed from ‘Taxable Income’. However, the legal provisions and judicial pronouncements states differently. This issue is discussed in detail in my Article. Please go through it and provide your valuable inputs. The Article is available at http://bbhushanadv.blogspot.in/ .
Bharat Bhushan, Article dealing with Service Tax on food served in Restaurants.
NO ANTI-DUMPING DUTY BETWEEN THE GAP PERIOD
The Hon'ble Supreme Court in its judgement dated 23-09-2015 has held that Anti Dumping Duty cannot be imposed, during the period after expiry of Provisional Duty Notification and imposition of final Anti Dumping Duty.