"07 September 2017" Archive - Page 2

Definitive CVD on import of Hot / Cold Rolled Stainless Steel Flat Products

Notification No. 1/2017-Customs (CVD) 07/09/2017

Seeks to impose definitive Countervailing duty on the imports of Certain Hot Rolled and Cold Rolled Stainless Steel Flat Products originating in or exported from China PR - 1/2017-Customs(CVD) - Anti Dumping Duty...

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CBEC reduces BCD on raw sugar upto a quantity of 3 lakh MT from 50% to 25%

Notification No. 74/2017-Customs 07/09/2017

Seeks to further amend notification No.50/2017-Customs dated the 30th June, 2017, so as to reduce the BCD on raw sugar[1701] upto a quantity of 3 lakh MT from 50% to 25% subject to the Tariff Rate Quota Allocation Certificate or license, as the case may be, issued by DGFT ...

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Clarifications on Guidelines on insurance e-commerce and electronic issuance of insurance policies

IRDA/ BRK/ CIR/ INSRE/211/09/2017 07/09/2017

The Authority as part of its developmental mandate and to reach out to the policyholders in a cost efficient manner has taken number of steps. This includes issuing revised guidelines on insurance repositories, insurance e-commerce, issuance of electronic insurance policies, maintenance of electronic records, etc....

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Follow Board’s Instructions in collection of Duty: CBEC

F.No. V/598/01/2017/8698 07/09/2017

Recently, in the case of a manufacturer of Mobile Phone Batteries, LED, Charger, etc. in Delhi, the officers of Anti Evasion Branch of erstwhile Central Excise Delhi-II Commissionerate, with the approval of competent authority, had visited the premises of the assesse. On scrutiny of records of the assessee it was found that the assessee ...

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No Tax audit for Turnover less than 1 crore & net profit less than 8%

Due to amendment in Finance Act, 2016, applicability of Tax audit in cases where turnover is less than 1 crore and net profit less than 8%, tax audit will not be required to be conducted....

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Posted Under: Custom Duty |

How Imports and Exports Treated in GST

Introduction:- Taxation laws have laid down the taxes applicable on import and export of goods and services. In the current tax regime, laws of Customs duty, Excise, Service Tax and VAT lay down the tax treatment of imports and exports. In the GST regime, Excise, Service Tax and VAT will be subsumed into GST and […]...

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Posted Under: Custom Duty |

Accounts & Records under GST

Introduction Goods & Services tax prescribes following accounting records to be kept- As per Section 35- Every registered person shall keep and maintain, at his principal place of business, as mentioned in the certificate of registration, a true and correct account of— (a) Production or manufacture of goods; (b) Inward and outward s...

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Posted Under: Custom Duty |

HappyLoans – A revolution in Credit Industry by Manish Khera

Manish Khera is a renowned entrepreneur, investor and a banker having more than two decades of rich experience in the finance domain. He has vast knowledge in micro-payments and microfinance and has been one of the key facilitators of financial Inclusion in the country across socio-economic segments. He has held several leadership roles s...

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Posted Under: Custom Duty |

TCS on E-Commerce Operators (ECO) under GST

This article discusses in detail about Tax collected at source (TCS) on E-commerce under GST....

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Posted Under: Custom Duty |

Approval to Reopening by officer superior to Addl. DIT U/s. 151(2) is invalid

Yum Restaurants Asia Pte. Ltd Vs Deputy Director Of Income Tax And Ors (Delhi High Court)

This writ petition by Yum! Restaurants Asia PTE Ltd. under Articles 226 and 227 of the Constitution, seeks the quashing of a notice dated 28th March 2012 issued by the Deputy Director of Income Tax (hereinafter the Assessing Officer or AO) under Section 148 of the Income Tax Act, 1961 (hereinafter the Act) seeking to reopen the assessment...

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