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Archive: April, 2019

Posts in April, 2019

Vacancies with Air India for CA/ICWA/MBA/CA & ICWA Inter/B.Com

April 26, 2019 4350 Views 0 comment Print

Air India have 25 vacancies for the post of Accounts Executive for who should be CA/ICWA/MBA-Finance (full time) with 2 years experience (Preferably in IT Systems) and they have 36 vacancies for the post of Accounts Clerk who should be CA Inter / ICWA Inter or B.Com with two years experience in SAP (Airline Accounting) […]

GST on tobacco leaves procured at auction platforms or directly from farmers

April 26, 2019 1092 Views 0 comment Print

The GST Rate of tax for the tobacco leaves procured at tobacco auction platforms or directly from farmers, which are cured and dried by farmers themselves is 5% as per the notification 4/2017 Central Tax (Rate), under ‘Reverse charge’

Normal Tax paid cannot be adjusted against Tax on Income disclosed under IDS

April 26, 2019 2265 Views 0 comment Print

Advance tax, self assessed tax and TDS paid prior to filing of declaration, should not be adjusted towards discharge of assessees liability to pay tax, surcharge and penalty under the scheme of Income Tax Declaration Scheme, 2016 in absence of any specific provision in the scheme, granting benefit of the self assessed tax or advance tax under the Act.

Claim of deduction accepted by AO despite unequivocal language of Act is erroneous U/s. 263

April 26, 2019 888 Views 0 comment Print

Claim of deduction accepted by the AO despite unequivocal language of the Act, in our view, is erroneous as contemplated under s. 263 of the Act. Such error on the part of the AO has caused definite prejudice to the interest of the Revenue.

Comment on Bankruptcy Process for Personal Guarantors to Corporate Debtors with Draft Regulations: IBBI

April 26, 2019 1893 Views 0 comment Print

The Insolvency and Bankruptcy Code, 2016 (Code) envisages reorganisation and insolvency resolution of corporate persons, partnership firms and individuals in a time bound manner for maximisation of value of assets of such persons, to promote entrepreneurship, availability of credit and balance the interests of all stakeholders.

DGFT launches Upgraded Online Filing for Tracking Quality Complaints

April 26, 2019 1395 Views 0 comment Print

Upgraded Module for Online Filing & Tracking Quality Complaints/Trade Disputes relating to International Trade — both for Indian and foreign entities.

DGFT: Filing/tracking of quality complaints/trade disputes made online

April 26, 2019 2418 Views 0 comment Print

Mechanism for resolving the complaints- CQCTD in the Regional Authorities of the DGFT/SEZs or the Indian Missions would take up the matter with the concerned entity or authorities in their jurisdiction for resolving the complaint and would update status online on a regular basis. The facility of tracking and viewing status of the complaints/disputes by the complainant has also been provided.

GST on Vocational Training having affiliation by NCVT

April 26, 2019 7290 Views 0 comment Print

In re The Leprosy Mission Trust of India (GST AAR Maharashtra) Whether services provided under vocational training courses recognized by National Council for Vocational Training (NCVT) or Jan Shikshan Sansthan (JSS) is exempt either under Entry No 64 of exemption list of Goods and Service Tax Act 2017 or under Educational Institution defined under Notification […]

AAAR quashes AAR ruling considering Change in Law after ruling

April 26, 2019 1668 Views 0 comment Print

In re Hero Solar Energy Pvt. Ltd. (GST AAAR Haryana) The order dated 22.08.2018 of the Advance Ruling Authority is quashed and the applicant may approach the Advance Ruling Authority for taking a decision afresh in accordance with law. The advance ruling dated 29.08.2018 obtained by the appellant is prior to the amendments made with […]

Net worth Requirements for Clearing Corporations in IFSC

April 26, 2019 1086 Views 0 comment Print

(a) Every applicant seeking recognition as a clearing corporation shall have, in the form of liquid assets, a minimum net worth equivalent of fifty crore rupees.b) Every recognized clearing corporation, on commencement of operations, shall have at all times, in the form of liquid assets, a minimum net worth equivalent of fifty crore rupees or capital as determined in accordance with the aforementioned SEBI circular dated April 10, 2019 as amended from time to time.

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