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Archive: 24 April 2017

Posts in 24 April 2017

Annual General Transfer in the grade of AC/DCIT – reg.

April 24, 2017 2106 Views 0 comment Print

Order No. 55 of 2017 The following postings / transfers in the grade of Assistant / Deputy Commissioner of Income Tax are hereby, ordered with immediate effect and until further orders:-

Excise Duty on Heena Powder & Paste falling under Chapter 33-Reg.

April 24, 2017 1227 Views 1 comment Print

Central Government is satisfied that according to a practice that was generally prevalent regarding levy of duty of excise (including non-levy thereof) under section 3 of the Central Excise Act, 1944 (1 of 1944), (hereinafter referred to as the said Act), on Heena Powder and Paste falling under Chapter 33 of the First Schedule to the Central Excise Tariff Act, 1985

DGFT amends Table A of Schedule 2 & Appendix 3 of ITC(HS)

April 24, 2017 3912 Views 0 comment Print

In exercise of the powers conferred by Section 5 and Section 14A of the Foreign Trade (Development & Regulation) Act, 1992 (No.22 of 1992) read with Para 1.02 of the Foreign Trade Policy, 2015-2020, as amended, and in supersession of DGFT Notification No.38 (RE-2010) /2009-2014 dated 31st March, 2011, Notification no. 93(RE-2012)/2009-14 dated 6th January 2012

Export Authorisation /Certificate / Permission for non-SCOMET Items

April 24, 2017 16455 Views 0 comment Print

The provision for regulating export of non-SCOMET items having potential risk of use in or diversion to WMD/missile/military end use has been prescribed. Provision for Maintenance of Records has been prescribed. Amendments have been made in para 2.74 and para 2.81 for adherence to various Multilateral Export Control Regimes and to clarify the licensing jurisdiction of various SCOMET categories.

Bank to pay compensation for not informing about Rejection of loan to applicant

April 24, 2017 2382 Views 0 comment Print

It appears that the Ld. Advocate appearing for the Appellant has mainly contested the appeal on the ground that under such circumstances Opposite Party Nos. 1 and 2 are not required to pay compensation of Rs.1,00,000/- to the complainant. However, we are of the opinion that contention of the Opposite Party Nos. 1 and 2 in this respect cannot be accepted.

BREACH of Covenants of a Loan – “Classification change” under Ind-AS

April 24, 2017 11250 Views 2 comments Print

Almost every loan agreement will be carrying some of the terms and conditions that are required to be fulfilled by a borrower to keep that loan continue as per the agreed terms OR an immediate re-payment might be initiated which can end the relationship related to the debt. Often these terms are e.g. agreed debt […]

Requirements for credit of first pension to his/ her account by bank

April 24, 2017 1173 Views 0 comment Print

It is observed that banks are still insisting upon the pensioners for completion of formalities like submission of life certificate, letter of Undertaking and certificate of non-employment to credit their first payment and other dues to their pension account resulting into inconvenience to the pensioners defeating the very purpose of simplifying the pension procedures.

GST Transition of ITC on goods taxable at first stage under VAT

April 24, 2017 8955 Views 2 comments Print

Advocate Amit Bajaj The most important and the very first step towards GST is the transition provisions under GST law. The transition provisions with regard to input tax credit are very important. In this article I concentrate on how the credit of taxes paid on the goods taxable at first stage especially under Punjab VAT […]

Timely and proper redressal of public grievances: CBDT

April 24, 2017 1386 Views 0 comment Print

Time and again it has been impressed upon all the Pr. Chief Commissioners, Chief Commissioners and their subordinate officers to attend to these grievances on priority. It was also conveyed that the senior officers shall personally monitor specified number of grievances and shall ensure that the grievances in their Region/Charge are resolved within the prescribed timeline of 30 days.

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