Tax Guru2m
Oil in Bunker Tanks is Part of Ship for Customs Duty: CESTAT Ahmedabad
In the case of Hariyana Ship Demolition Pvt Ltd Vs Commissioner of Custom-Jamnagar (PREV), the CESTAT Ahmedabad ruled that oil contained in the bunker tanks of vessels imported for breaking is to be ...
Tax Guru3m
GST registration cannot be cancelled where SCN cites reasons as “Others”: Calcutta HC
The case began with a show-cause notice issued on January 19, 2024, which outlined the grounds for the cancellation of Limton Metals’ GST registration under the Central Goods and Services Tax Act, ...
Tax Guru3m
Section 115BAA: No Fresh Form 10IC Needed for Lower Tax Rate in Subsequent Years
The Income Tax Appellate Tribunal (ITAT) overturned the ruling, pointing out that the company had already exercised its option for the lower tax rate in AY 2020-21 by filing Form 10IC, and this option ...
Tax Guru3m
No Interest or Penalties for Wrongly Availed but Unutilized ITC: Calcutta HC
In a significant ruling, the Calcutta High Court addressed the issues of interest and penalty in the context of Input Tax Credit (ITC) in the case of Utpal Das Vs State of West Bengal & Ors. The ...