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Are the “Time of Supply”, “Place of Supply”, and “Value of Supply” really important ?

Time of supply means the point in time when goods/services are considered supplied’. When the seller knows the ‘time’, it helps him identify due date for payment of taxes. Place of supply is required for determining the right tax to be charged on the invoice, whether IGST or CGST/SGST will apply. Value of supply is … Continue reading Are the “Time of Supply”, “Place of Supply”, and “Value of Supply” really important ?

Beware before doing any transactions with the defaulting companies

The Registrar of Companies, Ahmedabad has on 25-4-2017 issued a List of Defaulting Companies who have not commenced any business within one year of incorporation and also have not done any business during last two financial years. It is well advised not to deal with these companies in any manner, as a customer, vendor, investor, … Continue reading Beware before doing any transactions with the defaulting companies

Is the Commissioner (appeals) competent to pass interim orders??

Hon’ble CESTAT, Mumbai has held in the case of Parth Industries vs Commissioner of Customs, Goa, cited in 2012-TIOL-230-CESTAT-MUM, that the Commissioner (Appeals) is not competant to pass interim orders. The appeals are filed before the Commissioner Appeals, under section 128 of the Customs Act, 1962. The procedure to be followed by the Commissioner is … Continue reading Is the Commissioner (appeals) competent to pass interim orders??