Daily Archives: June 15, 2018

GST rate on Food and beverages served at the time of parties in Club : Maharashtra AAR

By | June 15, 2018

Whether the food and beverages served at the time of parties within the premises of the club is liable to tax at CGST 205% + SGST 205%. If not what is the rate of tax? Held The application is withdrawn by the applicant , hence stands disposed off Maharashtra AUTHORITY FOR ADVANCE RULINGS Shri Sham Caterers… Read More »

Delhi Intra-State e-way bill from 16.06.2018 : Notification

By | June 15, 2018

Intra-State e-way bill applicable from June 16, 2018 to Delhi if consignment value exceeds Rs. 1 lakh The E-way bill system would be applicable from June 16, 2018 in the State of Delhi for intra-State movement of goods. There is no need for generation of e-way bill in case of B2C (Business to Customer)  transactions… Read More »

Amount received for providing training services not “fees for technical services”

By | June 15, 2018

Amount received for providing training services not “fees for technical services” under treaty with the Netherlands: The Mumbai Bench of the Income-tax Appellate Tribunal held that consideration received by the taxpayer for providing training services and for access to a centralised reservation system (that is, common facilities provided to members of the taxpayer group) were… Read More »

Share premium received from foreign holding companies not income chargeable to tax

By | June 15, 2018

Share premium received from foreign holding companies not income chargeable to tax The Mumbai Bench of the Income-tax Appellate Tribunal held that a share premium received by the taxpayer from its non-resident holding company was a capital transaction and, thus, not income chargeable to tax in India. The case is: Finproject India (P.) Ltd. Read a June… Read More »

Income Tax Exemption to Capital Gains on Sale of Agriculture Land

By | June 15, 2018

EXEMPTION TO CAPITAL GAINS ON SALE/ TRANSFER OF AGRICULTURAL LAND [As amended by Finance Act, 2018] Introduction A farmer wants to shift his agricultural land for certain reason and hence he sold his old agricultural land and from the sale proceeds he purchased another agricultural land. In this case the objective of the seller was… Read More »