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Digest Of Important Judgements On Transfer Pricing, International Tax And Domestic Tax (July To September 2017)

Sunil-Lala

Shri Sunil Moti Lala, Advocate, has prepared a compilation of 500 important judgments on transfer pricing (257 cases), International Tax (15 cases) and Domestic Tax (228 cases) reported in the period from July to September 2017. The author has meticulously and systematically classified the judgments into various categories to enable ease of reference. A PDF copy of the digest is available for download. The digest will prove invaluable to all practitioners of taxation law.

The Digest comprises of all the important judgements dealing with transfer pricing, international taxes and domestic taxation laws. A brief head note is given for each case. The Digests for the earlier periods are available here

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Finally, We Have Got More Time To Bat -The Test-Match Got Extended Till 7th November, 2017

CA Prarthana Jalan has equated the filing of GST and income-tax returns to a grueling test match being played by the taxpayers and the professionals. She laments that even the complex “duckworth lewis” rules look simpler compared to the GST and income-tax rules. She also laments that the “pitch” (website) is so badly prepared that the players have to retire hurt. Fortunately, the CBDT has extended the overs by giving the 11th hour extension and this will enable the weary professionals to complete the match

Well, 31st October, 2017 was the last day of the test match for all the CA’s/Advocates and Income Tax Practitioners of our country i.e filing of Tax Audit Reports and Income Tax Returns in auditable cases. This year the test match of tax audits started late, as most of the Practitioners were engrossed in playing various other tournaments i.e GST, Income Tax notices/Assessment/appeals/ ROC etc.

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S. 254(2): The Law On Limitation Period For Filing Rectification Applications Before The ITAT

Advocate S. M. Surana has analyzed the recent judgement of the ITAT in DCIT vs. Hita Land Pvt Ltd which holds that the reduced period of six months for filing rectification applications applies to all rectification applications filed after 1st June 2016 even if the order sought to be rectified was passed before that date. The author has argued with cogent reasons that this view of the Tribunal is wrong and requires reconsideration

Section 254(2) of the Income-tax Act 1961 deals with the powers of the Income Tax Appellate Tribunal for rectification of its order. Section 254(2) before amendment w.e.f. 1-6-2016 read as under:-

"254(2) The Appellate Tribunal may, at any time within four years from the date of the order, with a view to rectifying any mistake apparent from the record, amend any order passed by it under sub-section (1), and shall make such amendment if the mistake is brought to its notice by the assessee or the Assessing Officer."

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Liability Of Electronic Commerce Operators To Pay GST

Advocate Sanjiv M. Shah has studied the law relating to the levy of GST on online retailers like Amazon, Flipkart etc and its consequences for customers. He has explained all the nuances of the law in the context of the statutory provisions, notifications and also the FAQs issued by the CBEC

Electronic Commerce Operator – GST

Essential Principles

1) Ordinarily, tax legislation is founded to impose tax on an event which triggers the fundamental charge. Accordingly, Section 9 read with Section 7 of Central Goods and Services Tax, 2017 [CGST] and corresponding sections of State Goods and Service Tax, 2017 [SGST]/Integrated Goods and Service Tax, 2017 [IGST] respectively, as the case may be, mandate that there shall be levied a tax called the central goods and service tax on all intra state supplies of goods or services or both………………………………….. and collected in such manner as may be prescribed and shall be paid by the taxable person. Therefore, it follows that basic charge of the tax is always on the supplier of goods/services or both, but manner of collecting said tax can be tweaked by legislature for convenient, easy and efficient realisation of taxes so as to mitigate burden on the implementing machinery.

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Law On Levy Of GST On Services Provided By Housing Societies & Resident Welfare Associations (RWA) Explained

Advocate Dinkar P. Bhave, an expert on the Goods and Services Tax (GST) Act, has explained the entire law on whether the services rendered by housing societies and Resident Welfare Associations (RWA) to their own members are liable for GST. The author has referred to all the relevant statutory provisions and circulars issued by the CBEC and identified the controversial issues and provided clear-cut answers

One may start with a bit of history relating to Service Tax. Dr. Raja Chelliah Committee on tax reforms recommended the introduction of Service tax. Service tax had been first levied on three services [Insurer, Stock Broker and Telegraph Authority] at a rate of five per cent flat from 1st July 1994 till 13th May 2003. Then the rates of tax were stepped up, education cess was added to boost revenue.

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Section 254 (2) of the Income-tax Act, 1961 – The issue of Limitation …

In Srinivas Sashidhar Chaganty, the Tribunal has held that the pronouncement of the order, followed by its uploading on the website, constitutes the “passing of the order” for the purposes of determining the limitation period for filing a rectification application. CA Anant N Pai has conducted thorough research into several judgements of the Supreme Court and High Courts and opined that the verdict of the Tribunal requires reconsideration

1. The provisions of section 254 (2) should present interesting challenges to tax practitioners. The earlier provisions, prior to its amendment by Finance Act, 2016 w.e.f. 1-6-2016, read as under –

Section 254 (2) The Appellate Tribunal may, at any time within four years from the date of the order, with a view to rectifying any mistake apparent from the record, amend any order passed by it under sub-section (1), and shall make such amendment if the mistake is brought to its notice by the assessee or the Assessing Officer.

By Finance Act, 2016, the words “four years from the date of the order” were substituted w.e.f. 1-6-2016 by the words “six months from end in which the order was passed”.

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Digest Of Important Judgements On Transfer Pricing, International Tax And Domestic Tax (June 2017)

Sunil-Lala

Shri Sunil Moti Lala, Advocate, has prepared a compilation of 133 Important judgments on transfer pricing (76 cases), International Tax (3 cases) and Domestic Tax (54 cases) reported in June 2017. The author has meticulously and systematically classified the judgments into various categories to enable ease of reference. A PDF copy of the digest is available for download. The digest will prove invaluable to all practitioners of taxation law.

The Digest comprises of all the important judgements dealing with transfer pricing, international taxes and domestic taxation laws. A brief head note is given for each case. The Digests for the earlier periods are available here

Read more ›

The Law And Procedure Of The Authority For Advance Rulings (AAR)

Advocate Divesh Chawla has explained the entire law and procedure relating to the Authority For Advance Rulings. He has referred to the numerous controversies that have arisen on the subject and the various judgements that have resolved the controversies. He has highlighted important aspects such as the jurisdiction of the AAR, the binding effect of its rulings, modification and rectification of the ruling etc. The article will prove invaluable for all parties who intend to file proceedings before the AAR

Background
The System of Advance Ruling was introduced in pursuant to World Trade Organisation negotiation on trade facilitation, which required the member states to introduce an advance ruling system to encourage international trade. The Legislature by the Finance Act, 1993, with effect from June 1, 1993, constituted the Authority for Advance Ruling (‘Authority’) by inserted chapter XIX-B, consisting of section 245N to 245V of the Income Tax Act, 1961(‘Act’). The legislative has facilitated the system of Advance Ruling in the field of Direct Taxes as well as in the field of Indirect Taxes (Section 95 to 106 of the Goods and Services Tax Act, 2017).

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Goods And Services Tax (GST) On Professional Services: Impact On Professionals

Rahul-Sarda

Advocate Rahul Sarda has analyzed the provisions of the Goods And Services Tax (GST) and their applicability to professionals such as Advocates, Chartered Accountants, Company Secretaries, Doctors, Architects, Engineers etc. He has not only explained the legal provisions but also dealt with practical issues relating to registration, filing of returns etc

I. Preamble

There are three ideas involved in a profession: organisation, learning, and a spirit of public service. These are essential. The remaining idea, that of gaining a livelihood, is incidental.
– Roscoe Pound

Professions have traditionally been viewed through this prism of nobility which places them on a pedestal higher than a mere trade or occupation or even business. However, for taxation (whether direct or indirect), there is hardly any distinction between a profession or a business. Under the Income-tax Act, 1961 (IT Act), incomes from business and from profession are taxed similarly and under the same head.

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Media & Entertainment Industry in GST Regime

Rajaram-Aajgaonkar

CA Rajaram Aajgaonkar has analyzed the provisions of the Goods And Services Tax (GST) with specific reference to the Media and Entertainment industry. He has meticulously explained the implications on different categories of taxpayers such as film and TV producers, amusement parks, authors, music composers, photographers, artists etc

The system of Indirect Taxes was developed in India over a period of time. Based on various Central and State Acts, various taxes were levied on manufacture or distribution of goods and services; such as Central Excise, Service Tax, Central Sales tax, State Sales tax, Octroi, LBT, Entertainment tax etc. As is done in many developed countries, India wanted to migrate to one major indirect tax since last many years but due to political reasons, this could not be achieved. Ultimately all the formalities were concluded, including passing of bills and amending the Constitution and Goods and Services Tax (GST) became operational from 1st July, 2017.

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