@abhishekrajaram's Latest X Threads

Brief discussion on Appeals under Income Tax. To download the file: 1) Follow me, else DM will not work 2) Like and Retweet 3) Check your DM 4) Follow Steps to download file 5) Join Tax Updates group for FREE Note: Tweet valid for 24 hours or 500 DM, whichever is earlier. [img:ugxXGUJb9]

𝗦𝘂𝗺𝗺𝗮𝗿𝘆 𝗼𝗳 𝘁𝗵𝗲 𝗢𝗿𝗱𝗲𝗿 𝗣𝗮𝘀𝘀𝗲𝗱 𝗯𝘆 𝗥𝗢𝗖 Fault and Legal Basis The order issued by the Registrar of Companies (ROC) adjudicates a penalty under Section 149(4) of the Companies Act, 2013. The fault pertains to non-appointment of Independent Directors by BCL Homes Limited as required under Section 149(4) of the Act. [img:oGrGhiL3t]

Key Point on RCM: Tax liability under RCM must be paid in cash and cannot be settled using ITC. After payment, the recipient can claim ITC if eligible. However, the supplier cannot claim ITC on GST paid for supplies under RCM.

𝗦𝗲𝗿𝘃𝗶𝗰𝗲 𝗧𝗮𝘅 – 𝗖𝗘𝗦𝗧𝗔𝗧 𝗠𝘂𝗺𝗯𝗮𝗶: 𝗦𝗲𝗿𝘃𝗶𝗰𝗲 𝗧𝗮𝘅 𝗣𝗮𝗶𝗱 𝗯𝘆 𝗖𝗼-𝗢𝗽𝗲𝗿𝗮𝘁𝗶𝘃𝗲 𝗦𝗼𝗰𝗶𝗲𝘁𝗶𝗲𝘀 𝗙𝗼𝗿 𝗠𝗲𝗺𝗯𝗲𝗿𝘀 𝗻𝗼𝘁 𝗟𝗶𝗮𝗯𝗹𝗲 𝗳𝗼𝗿 𝗦𝗲𝗿𝘃𝗶𝗰𝗲 𝗧𝗮𝘅 – 𝗥𝗲𝗳𝘂𝗻𝗱 𝗮𝗹𝗹𝗼𝘄𝗲𝗱 📢 𝗧𝗵𝗲 𝗧𝗿𝗶𝗯𝘂𝗻𝗮𝗹 𝗵𝗲𝗹𝗱: Co-operative societies' services to members aren't taxable, and refund claims for tax paid under mistake are not limited.

𝗦𝗲𝗿𝘃𝗶𝗰𝗲 𝗧𝗮𝘅 – 𝗖𝗘𝗦𝗧𝗔𝗧 𝗠𝘂𝗺𝗯𝗮𝗶: 𝗥𝗲𝗺𝗮𝗻𝗱 𝗙𝗼𝗿 𝗥𝗲𝗰𝗼𝗿𝗱𝗶𝗻𝗴 𝗙𝗶𝗻𝗱𝗶𝗻𝗴𝘀 𝗼𝗻 𝗦𝘂𝗯𝗺𝗶𝘀𝘀𝗶𝗼𝗻𝘀 📢 𝗧𝗵𝗲 𝗧𝗿𝗶𝗯𝘂𝗻𝗮𝗹 𝗵𝗲𝗹𝗱: The Commissioner ignored appellant's submissions and case laws, making the decision unsustainable; matter remanded for fresh decision.

𝗦𝗲𝗿𝘃𝗶𝗰𝗲 𝗧𝗮𝘅 – 𝗖𝗘𝗦𝗧𝗔𝗧 𝗔𝗵𝗺𝗲𝗱𝗮𝗯𝗮𝗱: 𝗥𝗲𝗳𝘂𝗻𝗱 𝗖𝗹𝗮𝗶𝗺 𝗧𝗶𝗺𝗲-𝗕𝗮𝗿𝗿𝗲𝗱 𝗨𝗻𝗱𝗲𝗿 𝗦𝗲𝗰𝘁𝗶𝗼𝗻 𝟭𝟭𝗕 📢 𝗧𝗵𝗲 𝗧𝗿𝗶𝗯𝘂𝗻𝗮𝗹 𝗵𝗲𝗹𝗱: Payments during investigations without protest are excise duty, not deposits; refund claims beyond Section 11B's limitation are disallowed.

𝗦𝗲𝗿𝘃𝗶𝗰𝗲 𝗧𝗮𝘅 – 𝗖𝗘𝗦𝗧𝗔𝗧 𝗡𝗲𝘄 𝗗𝗲𝗹𝗵𝗶: 𝗧𝗲𝗿𝗺𝗶𝗻𝗮𝘁𝗶𝗼𝗻 𝗙𝗲𝗲 𝗣𝗮𝗶𝗱 𝘂𝗻𝗱𝗲𝗿 𝗧𝗿𝗶𝗽𝗮𝗿𝘁𝗶𝘁𝗲 𝗔𝗴𝗿𝗲𝗲𝗺𝗲𝗻𝘁 𝗡𝗼𝘁 𝗦𝘂𝗯𝗷𝗲𝗰𝘁 𝘁𝗼 𝗦𝗲𝗿𝘃𝗶𝗰𝗲 𝗧𝗮𝘅 📢 𝗧𝗵𝗲 𝗧𝗿𝗶𝗯𝘂𝗻𝗮𝗹 𝗵𝗲𝗹𝗱: "Termination fee paid to ZEE Limited under a tripartite agreement for the transfer of rights does not constitute a service, and no service tax is payable."

𝗖𝗘𝗦𝗧𝗔𝗧 𝗔𝗵𝗺𝗲𝗱𝗮𝗯𝗮𝗱 𝗥𝘂𝗹𝗶𝗻𝗴 𝗼𝗻 𝗦𝗲𝗿𝘃𝗶𝗰𝗲 𝗧𝗮𝘅 𝗼𝗻 𝗗𝗲𝘃𝗲𝗹𝗼𝗽𝗺𝗲𝗻𝘁 𝗖𝗵𝗮𝗿𝗴𝗲𝘀 📢 𝗧𝗵𝗲 𝗧𝗿𝗶𝗯𝘂𝗻𝗮𝗹 𝗵𝗲𝗹𝗱: "Amounts received as development charges are in the form of profit and do not fall under 'Real Estate Agent’s Service,' making them not liable for service tax."

𝗖𝗲𝘀𝘁𝗮𝘁 𝗠𝘂𝗺𝗯𝗮𝗶 𝗥𝘂𝗹𝗶𝗻𝗴 𝗼𝗻 𝗗𝗲𝗹𝗮𝘆 𝗶𝗻 𝗥𝗲𝗳𝘂𝗻𝗱 𝗦𝗮𝗻𝗰𝘁𝗶𝗼𝗻 📢 𝗧𝗵𝗲 𝗧𝗿𝗶𝗯𝘂𝗻𝗮𝗹 𝗵𝗲𝗹𝗱: "Interest is payable under Section 11BB of the Central Excise Act, 1944, for delays in sanctioning refunds beyond three months from the date of application. Appeal allowed."

𝗖𝗲𝘀𝘁𝗮𝘁 𝗖𝗵𝗲𝗻𝗻𝗮𝗶 𝗥𝘂𝗹𝗶𝗻𝗴 𝗼𝗻 𝗦𝗲𝗿𝘃𝗶𝗰𝗲 𝗧𝗮𝘅 𝗘𝘅𝗲𝗺𝗽𝘁𝗶𝗼𝗻 𝗳𝗼𝗿 𝗪𝗼𝗿𝗸𝘀 𝗖𝗼𝗻𝘁𝗿𝗮𝗰𝘁𝘀 📢 𝗧𝗵𝗲 𝗧𝗿𝗶𝗯𝘂𝗻𝗮𝗹 𝗵𝗲𝗹𝗱: Service tax exemption under Section 102 requires contracts before 01.03.2015. Appellant's 19.03.2015 contract disqualifies exemption. Appeal dismissed.