Sl. No GST-ARA-12/2017/B-15 Name of Acrymold Ruling TMI Citation 2018 (5) TMI 597 – AUTHORITY FOR ADVANCE RULINGS MAHARASHTRA AAR State MAHARASHTRA Macro Issue The issue is regarding classification of trophies and awards made of different material viz. Metal, Plastic, Glass, MDF/Wood, Resin etc and the questions raised
Analysis of Vasantha Green Projects
The fate of indirect taxation in India, especially the taxation of services, is always like a rolling stone, which never gathers any moss. The positive list-based taxation was in vogue for certain period, and when the dust seems to be settled, the negative list-based taxation was introduced. When all the
Specified Agreement & Non-Resident
Finance Act 2017 has introduced sub-section 5A to Sec 45 which provides for chargeability of capital gains on transfer of capital asset being land or building or both under a specified agreement in the hands of assessee being individual or HUF(here in after referred as eligible transferor). This section overrides
Changes in ITR Forms
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GST on Shipping Services – the Unwarranted Turmoil
Introduction: Under the erstwhile service tax regime, the services by way of transportation of goods by vessel or aircraft from a place outside India up to the Customs Station of Clearance in India were originally covered under the Negative list as given under section 66D. With effect from 01.06.2016, these
MF Complications and Transfer Pricing Updates
Background In keeping with India’s commitment to implement the recommendations of Action Plan 13 of Base Erosion and Profit Shifting (BEPS), the Finance Act, 2016 introduced Section 286 of Income-tax Act, 1961 (the Act) providing for furnishing of Country-by-Country Report (CbCR) in respect of an International Group. Section 92D of
Amendment in Business Connection
Over past few decades India has witnessed rapid growth in international business transactions and thanks to Modi Government as the international trade flow has increased dramatically post 2014. Even in the recent DAVOS conference, many CEO’s of international MNC’s have promised to do business in India. Accordingly, the stupendous growth
Effects of Changes in Foreign Exchange Rates
Section 43A of Income Tax Act, 1961 (ITA/Act) provides that in case, where assessee has acquired any asset in the previous year from country outside India for the purposes of business or profession, the cost of such asset shall be adjusted because of increase or decrease in liability with change
Insights of QRB Report
Government of India has, in exercise of the powers conferred under section 28A of the Chartered Accountant Act 1949, constituted Quality Review Board to make recommendations to the Council with regard to the quality of services ( including audit services) provided by the member of the Institute and to guide
Exports Under GST – Resolution of Certain Issues
INTRODUCTION: It is the policy of Indian Government that export of goods or services should not be burdened with taxes to remain competitive in the global market. Though this policy remained intact even under GST regime, the manner of its implementation is affecting the exporters. In case of exporters undertaking