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Archive: 28 October 2019

Posts in 28 October 2019

Live Course on Appeal, Pleading & Drafting under GST by CA Sachin Jain

May 15, 2024 7173 Views 0 comment Print

oin us for an immersive live course led by renowned expert CA Sachin Jain, as we delve into the intricacies of appeal, pleading, and drafting under GST.

Section 271BA: No Penalty for bonafide failure in filing of Form No. 3CEB

October 28, 2019 25716 Views 0 comment Print

Where assessee failed to upload the report electronically in Form No. 3CEB but said report was promptly made available in the assessment proceedings itself, said failure was accepted as bona fide and accordingly, the penalty levied under section 271BA was to be quashed.

HC sets aside NAA’s ruling against Franchisee of McDonald’s

October 28, 2019 2028 Views 0 comment Print

Hardcastle Restaurants Pvt. Ltd. Vs Union of India (Bombay High Court) The main contention of the Petitioner is of violation of the principles of natural justice. Petitioner contends that since the hearing was only by three members and the impugned order is by four members, it is in breach of principles of natural justice. The […]

Income Tax Slabs & Rates for A.Y 2020-21 [F.Y. 2019-20]

October 28, 2019 186132 Views 8 comments Print

INCOME TAX SLABS & RATES : A.Y 2020-21 [F.Y. 2019-20] Income Tax Slab Rates for A.Y 2020-21 [F.Y. 2019-20] for Individual resident (Aged below 60 years) or Any NRI or HUF or  AOP or BOI or AJP, for Senior Citizen (Aged 60 years or more but less than 80 years),  for Very Senior Citizen (Aged […]

Amendment in Export Policy of Bangalore Rose Onion

October 28, 2019 609 Views 0 comment Print

Export of Bangalore Rose Onion (Serial Number 52, Chapter 7), upto a quantity of 9000 MT, has been allowed for the period upto 30th November, 2019, with immediate effect vide Notification No. 27/2015-2020 Dated: 28 October, 2019. Government of India Ministry of Commerce & Industry Department of Commerce Directorate General of Foreign Trade Udyog Bhavan […]

Release of Cashew Kernels at incorrect tariff rate-reg

October 28, 2019 5304 Views 0 comment Print

Please refer to notification No. 25/2019-Cus dated 6th July 2019 wherein the BCD rate on Cashew Kernel broken [0801 32 10], Cashew kernel whole [0801 32 20] and others [0801 32 90] was increased to the tariff rate which is 70%. However, due to an inadvertent error in the ICEGATE system, the tariff rate on the above goods is reflecting to be 30% which is incorrect.

Transaction value cannot be rejected merely for higher value deceleration by exporter

October 28, 2019 576 Views 0 comment Print

Shri. Haji Sumar Vs Commissioner of Customs (CESTAT Chennai) CESTAT Chennai has held that the transaction value adopted by the importer cannot be rejected merely based on export declarations received from Turkish Customs, public ledger and Commodity Trade Statistics Data (Comtrade).  Shri. Haji Sumar, who is one of the partners of M/s. Diamond Traders, has […]

LTCG on Sale of Equity Shares bought before 01-02-2018

October 28, 2019 44631 Views 11 comments Print

Equity investors had a long tax holiday as the capital gains were not taxed and were exempt under section 10(38) until assessment year 2018-19. But Capital Gains on sale of equity shares in a listed company or unit of an equity oriented mutual fund (hereafter both are referred to as shares in this article) held […]

Summary of filings to Stock Exchanges under LODR for entity which listed its Equity Shares & NCDs / NCRPS

October 28, 2019 6924 Views 2 comments Print

Summary of filings required to be made to Stock Exchanges under LODR for listed entity which has listed its specified securities, and either non-convertible debt securities (NCDs) or non-convertible redeemable preference shares (NCRPS) or both. Description Regulation No. Particulars Share Transfer Agent Regulation 7 (3) Compliance Certificate duly signed by CS and authorised representative of […]

E-invoicing Concept under GST

October 28, 2019 7518 Views 3 comments Print

E-invoicing Concept The GST Council approved the standard of e-invoice in its 37th meeting held on 20th Sept 2019 E-invoicing is proposed to be implemented from 1st January 2020. It will be implemented in a phased manner by GSTN. Similar to the new GST return filing system, the electronic invoicing system will first be available […]

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