The Writ petition was filed to challenge the proceedings initiated against the taxpayer by the central authorities where the taxpayer is assigned to the State authorities and vice versa. The Petitioner contended that power of cross-empowerment was given under Model GST Law. However, GST Law enacted is different from the Model GST Law.
Job work is an indispensable part of the business and most of the manufacturing entities are required to get their work done from the job worker on a regular basis. However, whether it is Central Excise, Service tax or Goods and Service Tax, special provisions are always provided under the law for goods sent on job work basis.
RoDTEP (Remission of Duties and Taxes on Exported Products) Scheme was introduced from 1st January, 2021 and it was implemented in place of schemes prevailing earlier such as MEIS (Merchandise Export from India Scheme)/ SEIS (Service Export from India Scheme).
Since commencement of Assessments under GST, there are many practical issues which are being faced by the Assessee. One of the common issues is issuance of GST ASMT-10 and DRC-01 for the same matter. There are many instances wherein a proper officer issues the GST ASMT-10 and assessee obtains the GST ASMT-12 by filing proper reply. GST authority still issues show cause notice in Form GST DRC-01 and in some cases issues the demand order as well. In this matter, a major relief is granted by Hon’ble High Court of Madra in the matter of Radiant Cash Management Services Ltd., Vs. The Assistant Commissioner (ST) (W.P.No .2981 of 2024 and W.M.P.Nos.3246 & 3247 of 2024).
The provisions of Corporate Social Responsibility (“CSR”) are incorporated under the Company Law to make companies more responsible towards betterment of the society and environment. All the companies which fulfill the specified criteria are required to spend 2% of their average profits, made during preceding 3 Financial Years, on the CSR Activities.
Similar to Foreign Direct Investment, Foreign Portfolio Investment (FPI) is a most explored way of investment in India. Foreign Portfolio Investment allows an investor to invest in multiple securities in foreign country such as shares, bonds, fixed deposits etc.
Unlike FDI, investment in FPI is done for the purpose of getting return and not for the purpose of control. FPI is controlled in India through Security and Exchange Board of India (Foreign Portfolio Investors) Regulations, 2014.
The Company constructed a warehouse and let it out. The Company paid the GST on such outward supply. The Company sought an advance ruling from WBAAR that whether the company is entitled to claim ITC on inward supplies received for construction of such warehouse. The Hon’ble WBAAR held that the restriction given under Section 17(5)(d) of CGST Act in respect of ITC on goods or services used for construction of warehouse is applicable in the instant case, i.e., the Company is not eligible for ITC with respect to inward supplies to the extent such expenditure is capitalised. However, where construction expenses are not capitalized in books, the claim of ITC is admissible.
India is showing substantial development in the space sector. Considering the major development of India in the space sector, the government has approved amendments in FDI policies with respect to FDI in space sector.
Electronic Bank Realization Certification (eBRC) is a certificate issued by the bank certifying that payment is received in foreign currency against the export of service and goods. As per FEMA, exporters are required to receive payment against export of goods and services within a specified period of time. Timely receipt of foreign currency is a condition for issuance of GST refund as well.
The Petitioner received an order for imposition of penalty. Show Cause notice was issued on the ground that the vehicle was traveling to a destination not mentioned in the invoice. However, while issuing the order, the appellate authority has imposed a penalty on a different ground.Hon’ble High Court held that “Show Cause Notice” serves as a vital checkpoint which defines the boundaries within which any authority can operate. Show cause notice is an initial document which impose allegations or discrepancies on the taxpayer and provide an opportunity to the taxpayer to present their side of the story. Any action beyond the scope defined in SCN not only undermines the legitimacy of the authority but also compromises the rights of the individuals or entities involved.
