Daily Archives: March 29, 2019

GST: HC releases seized goods without complying Section 129 of CGST Act

By | March 29, 2019

Gujarat High Court Synergy Fertichem Pvt.Ltd Vs State of Gujarat Appeal Number : Special Civil Application No. 4730 of 2019 Date of Judgement/Order : 08/03/2019 FULL TEXT OF THE HIGH COURT ORDER / JUDGMENT 1. On 06.03.2019 this Court had passed an order in the following terms; “1. Mr. Uchit Sheth, learned advocate for the… Read More »

Income Tax Department search in J&K Region : undisclosed income Rs 11 crore

By | March 29, 2019

Income Tax Department carries out more search actions in the J&K Region Posted On: 29 MAR 2019 Income Tax Department carried out search actions at 5 premises located in and around Srinagar on 28th March, 2019. Two groups, which connived with local officials in facilitation of absorption of undisclosed income of undesirable elements in shops, buildings… Read More »

Cash purchase of jewellary disallowed as assessee failed to prove compulsion : HC

By | March 29, 2019

Issue The Assessing Officer observed that the assessee had purchased gold jewellery worth Rs.34.68 Crores by way of cash in the auction conducted by M/s.Manapuram Finance Ltd. The assessess stated that a group of bidders formed a syndicate and participated in the auction and after successful bidding, money from the prospective purchasers are collected and… Read More »

No Penalty u/s. 271E of Income Tax on repayment of Advances in Cash : ITAT

By | March 29, 2019

The assessee has repaid in cash in advance received by it from its customers. We find that the Hon’ble CBDT in Circular No.387 of 6.7.1984 held “receiving advance and repayment of advance is a business transaction. The prohibition contained in section 269SS is confined to loans and deposits only and does not extend to purchase/sale transactions.” ITAT… Read More »

Circular No 96/15/2019 GST : Transfer of ITC on Death of sole proprietor

By | March 29, 2019

Seeks to clarify issues in respect of transfer of input tax credit in case of death of sole proprietor. F. No. CBEC-20/16/04/2018 – GSTGovernment of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Indirect Taxes and CustomsGST Policy Wing New Delhi, Dated the 28th March, 2019 To,The Principal Chief Commissioners / Chief Commissioners / Principal Commissioners… Read More »

Circular No 95/14/2019 GST : Registration Application verification by GST officer

By | March 29, 2019

Seeks to clarify verification for grant of new registration. F. No. CBEC-20/16/04/2018 – GSTGovernment of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Indirect Taxes and CustomsGST Policy Wing New Delhi, Dated the 28th March, 2019 To,The Principal Chief Commissioners / Chief Commissioners / Principal Commissioners /Commissioners of Central Tax (All)The Principal Director Generals / Director… Read More »

Circular No 94/13/2019 GST : Refund issue clarified

By | March 29, 2019

Circular No 94/13/2019 GST Dated 28th March, 2019 Seeks to clarify certain refund related issues under GST. Circular No 94/13/2019 GST F. No. CBEC-20/16/04/2018 – GSTGovernment of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Indirect Taxes and CustomsGST Policy Wing New Delhi, Dated the 28th March, 2019To,The Principal Chief Commissioners / Chief Commissioners / Principal… Read More »