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Archive: 28 November 2019

Posts in 28 November 2019

No Objection Certificate by Principal – AICITSS (AIT/MCS)

November 28, 2019 141237 Views 2 comments Print

Format of No Objection Certificate Letter required at the time of  AICITSS (AIT/MCS) Training. File is attached for reference. TO WHOMSOEVR IT MAY CONCERN NO OBJECTION CERTIFICATE This is to confirm that I, the undersigned do not have any objection for the below mentioned articled assistant to undergo the AICITSS (AIT/MCS) Course in the time […]

SEBI notifies Permissible Jurisdictions for issuance of Depository Receipts

November 28, 2019 1578 Views 0 comment Print

Listed company shall be permitted to issue permissible securities or transfer Permissible Securities of existing holders, for the purpose of issue of DRs, only in Permissible Jurisdictions and said DRs shall be listed on any of the specified International Exchange(s) of the Permissible Jurisdiction.

SEBI allows Clearing Corporations to invest in Overnight Funds

November 28, 2019 327 Views 0 comment Print

SEBI decided to permit the Clearing Corporations to make investments in Overnight Funds; however, the combined investments made by Clearing Corporations in Liquid Funds and Overnight Funds shall not exceed a limit of ten percent of the total investible resources. Further, the investments in Overnight Funds shall also be considered as ‘Liquid Assets’, for the purpose of calculation of Net worth of a Clearing Corporation.

MVAT on Unmanufactured tobacco, sold in sealed packets under brand name

November 28, 2019 1308 Views 0 comment Print

Guidelines are given to the assessing & appellate authorities, handling cases of dealers, dealing in unmanufactured tobacco, sold in packets under a brand name, in view of the Bombay High Court judgment in the case of M/s Amar Agencies & others.

Fried Fryums’ classifiable under Tariff Item 21069099

November 28, 2019 3669 Views 0 comment Print

In re Alisha Foods (GST AAR Madhya Pradesh) Heading 2106 is an omnibus heading covering all kind of edible preparations, not elsewhere specified or included. Chapter Note 5 provides an inclusive definition of this heading and covers preparations for use either directly or after processing, for human consumption. In 5(b) above preparation for use after […]

Fried Fryums classifiable under CTH 21069099 -18% GST Applies

November 28, 2019 2610 Views 0 comment Print

In re Alisha Foods (GST AAR Madhya Pradesh) The product ‘Fried Fryums’ manufactured and supplied by M/s. M/s ALISHA FOODS  is classifiable under Tariff Item 2106 90 99 of the First Schedule to the Customs Tariff Act, 1975. Goods and Service Tax rate of 18% (CGST 9% + GGST 9% or IGST 18%) is applicable […]

S. 147/148 AO cannot review his decision & reopen on a change of opinion

November 28, 2019 6297 Views 0 comment Print

Section 147 of the IT Act does not allow the reassessment of an income merely because of the fact that the assessing officer has a change of opinion with regard to the interpretation of law differently on the facts that were well within his knowledge even at the time of assessment.

IRDAI : Extension of time/withdrawal of existing products

November 28, 2019 1044 Views 0 comment Print

Authority has received representations from Life Insurance Council and various life insurers requesting for extension of the timelines referred in the quoted circulars citing reasons of ensuring system preparedness and training of personnel required.  On considering the same

Release of various collection report in ITBA-OLTAS environment

November 28, 2019 939 Views 0 comment Print

As you may be ware that OLTAS module has been migrated to ITBA environment and presently challan correction facilities are available in ITBA. The various collection MIS/reports which were available in the legacy OLTAS module have been designed and developed in ITBA environment and being release to enable field access and generate. The reports are available in Income Tax Business Application (ITBA) as per the following details:

Bill to Ban use of Electronic Cigarettes Introduced in Lok Sabha

November 28, 2019 603 Views 0 comment Print

http://164.100.47.4/BillsTexts/LSBillTexts/PassedLoksabha/342-C_2019_LS_Eng.pdf

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