The Hon’ble Delhi High Court in its recent judgement, wherein the imposition of Integrated Goods and Services Tax (“IGST”) at 12 per cent on the import of the oxygen concentrator was challenged by an 85-year-old individual, held that such levy is“unconstitutional” if imported for personal use. Through this judgement the Hon’ble High Court has quashed the Notification No. 30/2021-Customs dated 01.05.2021 issued by the Finance Ministry wherein the ministry levied 12 per cent IGST on the importation of the oxygen concentrator irrespective whether they are imported/received as a gift or otherwise. Further, to obviate the misuse of the oxygen concentrators Continue Reading
Hon’ble Supreme Court of India in the matter of Engineering Analysis Centre Private Limited vs. The Commissioner of Income Tax LL 2021 SC 124 has settled an important issue in income tax wherein it has been decided that the amount paid for software developed by the foreign companies and used by Indian Companies do not amount to “Royalty”, hence no tax to be deducted at source by the Indian companies. BACKGROUND That in the present case Engineering Analysis Centre Private Limited (“the company”) is an end user for shrink wrapped computer software which is imported directly from The United States Continue Reading
CATEGORY - I With the enactment of the Industrial Relations code 2020 the following acts will be replaced: 1. Industrial Employment Standing Order Act 1946; 2. Industrial Disputes Act, 1947; 3. Trade Unions Act, 1926. CATEGORY - II With the enactment of the Occupational Safety, Health & Working Condition Code 2020 the following acts will be replaced: 1. Factories Act, 1948; 2. Mines Act, 1951; 3. Dock Workers ( Safety, Health and Welfare ) Act, 1986; 4. The Building and other Workers (Regulation of & Employment and Conditions of Service) Act, 1996; 5. The Plantations Labour Act, 1951; 6. The Continue Reading
BUDGET – 2021-22 – SUMMARY OF AMENDMENTS IN GOODS AND SERVICES TAX ACT, 2017 SUMMARY OF AMENDMENTS IN CENTRAL GOODS AND SERVICES TAX ACT, 2017 Our Comments/Views Earlier/Old Provision Amendment/New Provision Amendment of Section 7 – Relevant Clause 99 of Finance Bill The said insertion ensure levy of tax on activities or transactions involving supply of goods or services by any person, other than individual, to its members or constituents or vice-versa, for cash,defeered payment or other valuable consideration. (1) For the purposes of this Act, the expression “supply” includes– (a) all forms of supply of goods or services or Continue Reading