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Archive: March, 2019

Posts in March, 2019

Narcotic Drugs and Psychotropic Substances (Amendment) Rules, 2019

March 13, 2019 11142 Views 0 comment Print

Government hereby makes the following rules further to amend the Narcotic Drugs and Psychotropic Substances Rules, 1985, namely: ‑(1) These rules may be called the Narcotic Drugs and Psychotropic Substances (Amendment) Rules, 2019.

CIT (e-Verification) shall be subordinate to Principal DGIT (Systems)

March 13, 2019 1104 Views 0 comment Print

MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) Notification No. 21/2019 New Delhi, the 13th March, 2019 (INCOME-TAX) S.O. 1362(E).—In exercise of the powers conferred by section 118 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby directs that the Commissioner of Income-tax (e-Verification) shall be […]

CBDT delegates further powers to PDGIT (Systems), Delhi

March 13, 2019 4419 Views 0 comment Print

Central Board of Direct Taxes hereby directs that the Principal Director General of Income-tax (Systems), Delhi, shall exercise the powers and perform the functions in respect of such territorial area or such persons or class of persons or such incomes or class of incomes or such cases or class of cases, in respect of which the Commissioner of Income-tax (e-Verification) has jurisdiction vested in him.

CBDT designates CIT for centralised issuance of notice etc.

March 13, 2019 1047 Views 0 comment Print

CIT to exercise concurrent powers in addition to any other authority under the Income-tax Act–(i) for the purpose of centralised issuance of notice and for collection and processing of information or documents and making available the outcome of the collection and processing under sub-sections (1) and (2) of section 133C of the Income-tax Act, 1961;

CBDT approves Indian Institute of Science Education and Research, Bhopal U/s. 35(1)(ii)

March 13, 2019 618 Views 0 comment Print

It is hereby notified for general information that the organization M/ s Indian Institute of Science Education and Research, Bhopal (PAN:- AAAAI2511F) has been approved by the Central Government for the purpose of clause (ii) of sub-section (1) of section 35 of the Income-tax Act, 1961

No profiteering if post discount rate remains same pre & post rate reduction

March 13, 2019 2061 Views 0 comment Print

Respondent had not increased the discounted per M2price of the above product which had remained Rs. 374.74/- before and after the tax reduction, as was evident from both the invoices issued by him before and after the tax reduction and therefore, the benefit of tax reduction has duly been passed on to the customers by the Respondent. Hence, the allegation of profiteering is not established

Consideration of applications for grant of authorization for import of gold dore-reg

March 13, 2019 2199 Views 0 comment Print

New applicants who have obtained NABL Certification are representing for allowing them imports of gold dore for obtaining BIS License. Matter has been discussed with BIS and it has been accordingly decided that new applicants, having NABL certification, will be considered for 1 MT of gold dore for obtaining BIS License. Subsequently, no further authorization will be granted to these applicants without BIS License.

No profiteering by Asian Paints, who passed tax reduction benefit to customers

March 13, 2019 1578 Views 0 comment Print

Kerala State Screening Committee on Anti-profiteering Vs M/s. Asian Paints Ltd. (National Anti-Profiteering Authority) From the invoices referred, it is evident that the Respondent had maintained the same base price post reduction in the rate of tax w.e.f. 15.11.2017, resulting in reduction in the cum-tax price from Rs. 175.40/- to Rs. 161.70/- on the product […]

Is Your Company Active..??? Yes..!! To Continue It File “Active”

March 13, 2019 1506 Views 0 comment Print

Government of India is on Clean Mode since last year attacking with the several Strikes i.e. Surgical Strikes, Company Striking off, Air Strikes and now the shell companies are on the same screen towards the Good Corporate Governance. Promoter(s)/Director(s) have companies to convert their money into white not to business, doing the fictitious transaction now […]

SEBI (Delisting of Equity Shares) Regulations, 2015: Timelines for Counter Offer Process”

March 13, 2019 1533 Views 0 comment Print

Securities and Exchange Board of India CIRCULAR SEBI/HO/CFD/DCR2/CIR/P/2019/35 March 13, 2019 To All Listed Entities All Recognized Stock Exchanges All Registered Merchant Bankers Dear Sir / Madam, Sub: SEBI (Delisting of Equity Shares) Regulations, 2015 – “Timelines for Counter Offer Process” 1. SEBI (Delisting of Equity Shares) Regulations, 2015 has been amended to allow promoter(s) […]

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