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Archive: 15 January 2019

Posts in 15 January 2019

Notification No. 02/2019-Customs (ADD), Dated: 15.01.2018

January 15, 2019 981 Views 0 comment Print

seeks to rescind notification Nos.30/2018 – Customs(ADD) and 31/2018 – Customs (ADD) both dated 30.05.2018 that provided for provisional assessment of jute goods exported from Bangladesh or Nepal by M/s Janata Jute Mills Ltd., M/s. Aman Jute Fibrous Ltd. (Producer) and M/s IB Jute Corporation (Exporter/ Trader) till the final findings of New Shipper Review […]

Amendment in policy condition of Nicotinic Acid & Nicotinamide

January 15, 2019 684 Views 0 comment Print

Till now, import of Nicotinic Acid & Nicotinamide (Niacinamide/ niacin) was ‘Free’ subject to No Objection Certificate (NOC) from Narcotics Commissioner, Gwalior, before import of the item. For import of Nicotinic Acid & Nicotinamide (Niacinamide/ niacin, this Policy Condition is being removed with immediate effect.

FTP: Govt incorporates a list of 207 items as Technical Textiles

January 15, 2019 1314 Views 0 comment Print

Central Government, hereby incorporates a list of 207 items as Technical Textiles vide Appendix – V of ITC (HS) 2017,Schedule-I (Import Policy).

AO cannot reopen solely based on info received from DIT (Investigation)

January 15, 2019 4917 Views 0 comment Print

PCIT Vs M/s. Shodiman Investments Pvt. Ltd. (Bombay High Court) In this case Assessing Officer has not applied his mind to the information received by him from the DDIT (Inv.). The Assessing Officer has merely issued a re­opening notice on the basis of intimation regarding re­opening notice from the DDIT (Inv.) This is clearly in […]

Exercising of powers & performing of functions by officers in CCITs grade

January 15, 2019 1041 Views 0 comment Print

Order u/s 120 (1) of the Income Tax Act, 1961 – Exercising of powers and performing of functions by the officers in the grade of CCITs – reg. F. No. 187/01/2019-ITA-1 Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes ITA-I Division North Block, New Delhi, Dated the 15th January, 2019 […]

Demystifying Capital Gain Tax on Conversion of a Company into Limited Liability Partnership (LLP)’

January 15, 2019 6174 Views 3 comments Print

The Income-tax Act, 1961 provides for specific exemption from capital gains on conversion of a company into Limited Liability Partnership. Limited Liability Partnership (LLP) is a hybrid entity combining advantages of both company and partnership firm.

Withdraw Low Tax Effect Appeals as per Circular No. 3/2018: CBDT

January 15, 2019 4737 Views 0 comment Print

Vide Board’s D.O. dated 16.07.2018 and various letters subsequently, the status of withdrawal of appeals from ITAT and HC in pursuance to the Circular was ascertained from each CCA region.

Director remuneration cannot be disallowed merely for loss Shown by Assessee

January 15, 2019 4041 Views 0 comment Print

The Bombay Samachar Pvt. Ltd. Case: Where Disallowance Of Remuneration To Directors Is Because Of Loss Shown By The Assessee The Remuneration Cannot Be Disallowed

जीएसटी एक्सपर्ट सुधीर हालाखंडी के साथ एक इंटरव्यू- जीएसटी का 18 माह का सफ़र

January 15, 2019 10269 Views 3 comments Print

भारत में लगने वाले जीएसटी के बारे में सोचे तो कभी –कभी एक नाम आता है जहन में और वो नाम है जीएसटी एक्सपर्ट सुधीर हालाखंडी का . आइये आज उनसे एक मुलाक़ात करते हैं और अन्य बातों के साथ –साथ मालुम करते हैं कि कैसा रहा भारत में जीएसटी का 18 महीने का सफ़र और अब आगे उन्हें क्या चाहिए

National Company Law Tribunal (Amendment) Rules, 2019

January 15, 2019 1959 Views 0 comment Print

Central Government hereby makes the following rules further to amend the National Company Law Tribunal Rules, 2016, namely:- 1. (1) These rules may be called the National Company Law Tribunal (Amendment) Rules, 2019.

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