"16 October 2018" Archive

Unprecedented tax reforms by Indian Customs

INDIAN CUSTOMS- UNPRECEDENTED TAX REFORM- Enhanced Ease of Doing Business- Indian Customs has taken a series of measures to simplify Customs processes and procedures during the last few years....

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Posted Under: Custom Duty |

Goods cannot be treated as Smuggled for mere non-maintenance of books

Union of India Vs Imtiaz Iqbal Pothiwala (Bombay High Court)

UOI Vs Imtiaz Iqbal Pothiwala (Bombay High Court) We are of the view that in the absence of evidence in the form of regular Books of Account, Registration under the Income Tax and Sales Tax, etc., cannot ispo­facto lead to the conclusion that the seized gold bars, are smuggled gold bars. These may lead to proceedings for […]...

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Govt notifies Special Courts under Benami Property Act

Notification No. 67/2018-Income Tax [S.O. 5323(E)] 16/10/2018

Govt notifies Court of Session designated as Special Court and Area specified for trial of offence punishable under the Prohibition of Benami Property Transactions Act, 1988 vide Notification No. 67/2018-Income Tax. ...

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AAR rejects Application for lack of interest of applicant in obtaining advance ruling

In re Indication Instruments Ltd. (GST AAR Haryana)

In re Indication Instruments Ltd. (GST AAR Haryana) The applicant has time and again not appeared under the pretext of proper communications towards the date of hearing not being received. The last Personal Hearing was provided for 09.10.2018 and when the staff enquired about the applicant’s schedule for the day’s personal hea...

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Oil: Will the barrel stop rolling?

Oil prices had been rallying till the first week of October (for seven consecutive weeks) on concerns that the looming U.S. restrictions on Iran will squeeze supply at a time when production is already being affected because of geopolitical supply disruptions coupled with temporary Permian pipeline shortages. Added to that is the ongoing ...

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Posted Under: Custom Duty |

Extend due date of GSTR-3B & GSTR-1: RTCA

It is humbly requested that the time limit to file GSTR-3B & GSTR-1 for the month/quarter of September 2018 may be extended to 31st January 2019 or the necessary amendments may be made in the provisions of section 16(4) and section 39(9) to allow the claim of input credit or to rectify the omissions till the due date to file the annual r...

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Basic Understanding Of NCLT & NCLAT For Students

Everyone knows High Court and Supreme Court but few People like CA/CS/Lawyers know NCLT & NCLAT. Lets through light on this topic in very simple language for better understanding of student and Public at Large. Introduction: – NCLT, National Company Law Tribunal is a quasi-judicial body to regulate and resolve Civil Corporate di...

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Posted Under: Custom Duty |

GST ANNUAL RETURN “what to fill & how to fill” Complete Procedure

GST Annual return to be filed once in a year, it is a consolidated information of all inward and outward supplies for tax administrator for a particular financial year. It consists of details regarding the supplies made and received in a financial year under the different tax head such as Central, State and Union Territory tax....

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Posted Under: Custom Duty |

व्यापारियों के लिए समय प्रबंधन टिप्स

समय ही एक ऐसी चीज है जो की सबके लिए समान है . अमीर ,गरीब , पढ़ा लिखा ,अनपढ़ ,उद्योगपति मजदूर, प्रधानमंत्री, शिक्षक, विद्यार्थी सभी को दिन ...

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Posted Under: Custom Duty |

Uniform procedure to obtain samples of goods at Exchange accredited warehouses

Circular No. SEBI/HO/CDMRD/DMP/CIR/P/2018/136 16/10/2018

Majority of the agricultural commodities traded on exchange platform requires assaying. The number and size of the samples are determined by the nature of commodity and the requirements of tests to be done in order to meet the exchange specifications. It has come to the notice that varied approaches are being followed by the exchanges in ...

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