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Hon’ble SC recently ruled that “transfer” in a lease deed should be read broadly, not confined to the Transfer of Property Act. Parties can agree to terms beyond statutory provisions, provided they don’t contravene laws or public policy. The “transfer” clause aims to retain the lessor’s control over the property and prevent alienation jeopardizing the lessor’s rights.
The Gujarat, AAR in the matter of M/s. Waaree Energies Limited held that the SEZ unit are not required to pay GST under RCM on any service received from suppliers located in the DTA for carrying out the authorized operation in the SEZ unit, provided that a LUT or bond as a deemed supplier of such services is furnished as mentioned in Notification 37/2017-Central Tax dated October 04, 2017.
The Hon’ble Kerala High Court in the case of VadakkotChackoo Devassy set aside the Assessment Order and remitted the matter back for reconsideration in case where the Assessee could not file the reply due to cancellation of GST Registration and issuance of show cause notice on the next day of notice in GST ASMT-10.
The taxability of online gaming services under goods and services tax (GST) has always been tricky, hinged on the distinction of whether they are classified as ‘gambling’ or ‘skill-based’ activities. While gambling activities such as betting and casino games attracted a 28 percent GST rate, skill-based games were taxed at a lower 18 percent rate.
The Central Board for Indirect Taxes and Customs (CBIC) recently issued a set of 18 guidelines to department personnel on conducting investigations and enforcement.
CBDT issued Notification no. 41/2024 dated 24.04.2024 to “Kerala Autorickshaw Workers Welfare Fund Scheme, Kollam”, a Board constituted by the Government of Kerala, for the purpose of clause (46) of Section 10 of the Income tax Act 1961 in respect of the specified income stated in the notification.
CBDT issued Notification no 40 dated 23.04.2024 to notify “Shree Ramanuj Kot Laxmi Venkatesh Mandir” managed by Shree Ramanuj Kot Trust, Indore, Madhya Pradesh to be place of historic importance and a place of public worship of renown throughout the state of Madhya Pradesh for the purpose of the section 80G(2)(b) of the Income tax Act, 1961.
The Central Board of Income Tax issued a Notification no. 39/ 2024 / F. No. 187/4/2024-ITA-I dated 22.04.2024 to make further amendment in the Notification no. S.O. 2692 (E), dated 10.06.2022
The Directorate General of Foreign Trade (DGFT) issued a Notification No. 09/2024-25 dated 25.04.2024 regarding export of 2,000 MT of white onion under HS code 0703 10 19.