Tax Newsletter – November 2021

Our monthly tax update includes detailed analysis on recent case laws/advance rulings on several direct and indirect issues including:

• ITAT rules that transaction in bogus shares involves a colorable device

• The principle of non-maintainability of writ petitions in situations where there is an alternate remedy available
• Services which are inextricably linked to mining activities are covered by exclusion of FTS and hence are not taxable
• Organizing IPL is not dilutive of the fundamental objects and hence Section 12A/12AA of the ITA Act is valid in this case
• Unexplained investment in India by a non-resident from income earned outside India is not taxable under Section 69
• Online filing cannot be insisted in respect of refund applications under GST
• Officers appointed under Orders of Commissioner of State Tax are ‘proper officers’ under GST
• Section 130 of the CGST Act provides for provisional release of goods
• Royalty and dead rent are not subject to service tax under forward charge
• Supply of goods made outside India prior to February 1, 2019 will be subject to GST
• Top-up and parental insurance premium recovery from the employees are not subject to GST

The update also provides recent Circulars/Notifications on Direct Tax, GST, FTP, Customs, Central Excise.

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