In a Release today, the Reserve Bank of India outlined the steps taken and those on the anvil post the promulgation of the Banking Regulation (Amendment) Ordinance, 2017.
Impugned order of assessment was made based on the Web Report, the Assessing Authority is not justified in passing the impugned order of assessment, without furnishing the details of such report and without conducting any enquiry at all levels.
Corpus fund which is meant for specific purpose to meet out capital expenditure could not be part of annual receipts of educational institution, even if no registration u/s 12AA have been granted.
It is clear from the reading of Section 3(i) of the Tamil Nadu Protection of Interests of Depositors (In Financial Establishments) Act, 1997, that whenever complaints are received from a number of depositors against a Financial Establishment, which defaults or fails to return the deposits or fails to provide services for which the deposits have […]
Whereas the notification no. 09/2012-Cus dated the 9th March, 2012 of the Government of India, Ministry of Finance, Department of Revenue did not allow benefit of duty free import of cut and polished diamonds exported abroad for certification and grading, by authorised offices/ agencies in India of laboratories mentioned under para 4.74 of the Hand Book of Procedure;
What they believe to be information is a post circulated on WhatsApp platform or an alleged translation in a website. The alleged information is not claimed to be true to their knowledge. It is not even stated in the petition as to how the petitioners have formed a reasonable belief that the alleged post or the translation could be true or have any basis.
Under the GST law, the levy of tax is as follows: (a) In the hands of the supplier – on the supply of goods and / or services (referred to as tax under forward charge mechanism); (b) In the hands of the recipient – on receipt of goods and / or services (referred to as tax under reverse charge mechanism)
