Trade has represented that they are facing difficulty in making payment of certain late charges / amendment fees (as detailed below) beyond working hours.
Just like in present tax structure, Reversal of Credit under GST also has the same meaning. In a layman language, reversal of credit means reversal of the credit already taken. The essence of this write- up is to decipher the special cases and manner in which the availed Input tax credit is reversed. Contents of […]
The Committee shall make recommendations to SEBI on the following issues with the aim of improving standards of corporate governance of listed companies in India: 1. Ensuring independence in spirit of Independent Directors and their active participation in functioning of the company;
The matter has been examined in the Board. In order to redress the issue, it has been decided that only in the rarest of rare and genuine cases manual processing and clearance will be allowed and data for manual documents is compulsorily entered and transmitted at all locations within the stipulated time period.
During the course of appellate proceedings, the representative of the assessee submitted that the expenditure towards proportionate compensation of Rs. 79,36,350/- is allowable u/s. 48(1) of the Act, as upon succession of the impugned property, the assessee had paid the compensation as per the document submitted. The representative averred that where the assessee’s ancestors create […]
Hon’ble Supreme Court in the leading case, ITO vs. Volkart Brothers [(1971) 82 ITR 50 (SC)] has held that a mistake apparent on the record must be an obvious and patent mistake and not something which can be established by a long drawn process of reasoning on points on which there may conceivably be two opinions.
There would always be a segment of taxpayers who would find it difficult to completely fulfill the compliance requirement of tax laws, may be due to their small size or nature of their operations. From the tax collector view-point also, the cost of collecting tax from such tax payers is far more in percentage terms […]
G.S.R. (E). -Whereas, the designated authority vide initiation notification No. 15/24/2016- DGAD, dated the 25th April, 2017, published in the Gazette of India, Extraordinary, Part I, Section 1 dated the 25th April, 2017, had initiated review in terms of sub- section (5) of section 9A of the Customs Tariff Act, 1975 (51 of 1975) (hereinafter referred to as the said Customs Tariff Act) and in pursuance of rule 23 of the Customs Tariff (Identification, Assessment and Collection of Anti-dumping Duty on Dumped Articles and for Determination of Injury) Rules, 1995 (hereinafter referred to as the said rules), in the matter of continuation of anti-dumping duty
1. (1) These rules may be called the Central Civil Services (Classification, Control and Appeal) Amendment Rules, 2017. (2) They shall come into force on the date of their publication in the Official Gazette.
Ramping up its renewable and nuclear energy programmes tremendously over the past three years reflects the government’s commitment to prioritise the use of clean power in India’s energy mix.
