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Archive: October, 2019

Posts in October, 2019

Initiation of Sunset review of Anti-Dumping investigation concerning imports of Sodium Citrate from China PR

October 25, 2019 525 Views 0 comment Print

Sodium Citrate is a chemical compound that comes in the form of mono-sodium citrate, disodium citrate and tri-sodium citrate. Sodium Citrate is the sodium salt of citric acid. Like citric acid, it has a sour taste. Like other salts, it also has a salty taste. In DGAD’s Final Findings dated 26th February, 2015 of the original Anti-dumping investigation, the PUC had been defined as,

President to Present National CSR Awards to Select Companies

October 25, 2019 1605 Views 0 comment Print

President of India, Shri Ram Nath Kovind, will present the National Corporate Social Responsibility Awards (NCSRA) to select companies for their outstanding contribution in area of Corporate Social Responsibility (CSR) on Tuesday, 29th October, 2019 in New Delhi. 

Addition for undisclosed stock not justified for mere difference in closing stock valuation

October 25, 2019 4488 Views 0 comment Print

Addition on account of undisclosed stock/ production is not justified where no physical discrepancy was found/detected by the survey team and excess value of stock was merely because of difference in valuation of closing stock

Single letter of approval (LoA) for all categories under Chapter 71 of ITC HS

October 25, 2019 3657 Views 0 comment Print

I am directed to state that representations had been received in this Department for single LoA for all categories under Chapter 71 of ITC HS. The representations have been examined and following decisions have been taken, with the approval of competent authority, regarding issuance of LoA to a Gems & Jewellery (G&J) unit:

Effect of Notification 49/2019–CT i.e. restriction on availment of ITC

October 25, 2019 21307 Views 0 comment Print

Effect of Notification 49/2019–Central Tax dated 9 October 2019 i.e. restriction on availlment of input tax credit (ITC) Central Board of Indirect taxes and Customs restricts availment of input tax credit to recipient if details not furnished by supplier in Form GSTR-1 CBIC has issued Notification No. 49/2019–Central Tax dated 9 October 2019 amending the […]

GST शास्त्र : ‘C’ for Classification, ‘C’ for Confusion

October 25, 2019 10980 Views 0 comment Print

Introduction : Classification of goods under GST is very important and has very vide implications considering multi tax rate structure. To ascertain whether a subject matter is exigible to tax, exemption, rate of tax, classification is a crucial task. Certain entries in notifications to defined tax rates led to disarray among the industry. Advance rulings […]

Last date of form IEPFA-1A & IEPF-2 filing extended

October 25, 2019 5889 Views 0 comment Print

MCA  waives the additional fee payable by companies on filing form IEPF-1A upto 31.12.2019 and form IEPF-2 (for the purpose of filing Statement of unclaimed and unpaid amounts) upto 30.11.2019 vide General Circular No. 11/2019 Dated: 25.10.2019.

CGST Act not empower officials to record statements of family members through Coercion

October 25, 2019 7644 Views 0 comment Print

Section 67(2) of the Act empowers the authorised officer to search and seize the goods, documents or books or things – however, s.67(2) does not empower the officer concerned to record statements of family members through force or coercion or to record their conversations in their mobile phones.

Bank Deposit Insurance by DICGC- FAQs

October 24, 2019 4896 Views 1 comment Print

Each depositor in a bank is insured upto a maximum of 1,00,000 (Rupees One Lakh) for both principal and interest amount held by him in the same right and same capacity as on the date of liquidation/cancellation of bank’s licence or the date on which the scheme of amalgamation/merger/reconstruction comes into force.

Promoter not eligible to file application for Compromise and Arrangement, while he is ineligible U/s. 29A of I&B Code to submit a ‘Resolution Plan’

October 24, 2019 2295 Views 0 comment Print

Promoter, if ineligible under Section 29A cannot make an application for Compromise and Arrangement for taking back the immovable and movable property or actionable claims of the ‘Corporate Debtor’.

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