It is not in dispute that the assessee had been following LIFO method regularly for valuation of closing stock since its inception. It is not in dispute that the LIFO method adopted by the assessee had been accepted by the revenue in the past. It is not in dispute that the LIFO method is also one of the recognized methods for valuation of closing stock.
Brief facts of the case are that the petitioner is a registered company having its registered office at Gurugram, Haryana. The petitioner company is also registered under the GST Act, 2017 and is carrying on business of transportation of goods from one place to another.
The Ministry Corporate Affairs has vide notification dated June 12, 2018 has notified Companies (Appointment and Qualification of Directors) Third Amendment Rules, 2018 by which format of Form DIR-3 and Form DIR-6 has been updated . GOVERNMENT OF INDIA MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, 12th June, 2018 G.S.R. 558(E).– In exercise of the […]
Indian Mackerel export under any HS Code of 2012/2017 is eligible for MEIS benefit for exports made during the period 01.04.2015 to 30.06.2018. For exports made on or after 01.07.2018, Indian mackerel is eligible for MEIS benefits only under Serial no. 8019 and 8020 of the Table 2 of Appendix 3B-MEIS Schedule.
S.B.G.C Logistics Vs State of U.P. (Allahabad High Court) In view of the decision taken by the Government that if the goods are transported within a distance of 50 km in the case of intra-state transaction, there is no requirement to fill up ‘Part B’. Notification no.12 of 2018 dated 07.03.2018 craves out an exception […]
Port restriction is not applicable on import of Natural Rubber of all varieties/forms covered under EXIM Code 4001, under Advance Authorisation.
Following is the Exposure Draft of changes proposed in Ind AS 40, Investment Property, issued by the Accounting Standards Board of the Institute of Chartered Accountants of India, for comments.
Following is the Exposure Draft of Long-term Interests in Associates and Joint Ventures (Amendments to Ind AS 28) issued by the Accounting Standards Board of the Institute of Chartered Accountants of India, for comments.
Following is the Exposure Draft of Amendments to Ind AS 109, Financial Instruments, issued by the Accounting Standards Board of the Institute of Chartered Accountants of India for comments.
Following is the Exposure Draft of the Amendments to Ind AS 19, Employee benefits, issued by the Accounting Standards Board of the Institute of Chartered Accountants of India for comments.
