"18 December 2019" Archive - Page 3

RNRO can claim foreign tax credit under section 91

Aditya Khanna Vs ITO (International Taxation) (ITAT Delhi)

Assessee who was Resident but not ordinarily resident in India was entitled to claim the credit of both state and federal taxes as per section 91 however, tax credit in respect of foreign income tax was restricted to actual income tax liability in India, in respect of income on which taxes had been so paid abroad....

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Import policy of gold and silver amended from ‘Free’ to ‘Restricted’

Notification No. 36/2015-2020-DGFT 18/12/2019

Import policy of gold in any form, other than monetary gold and silver in any form, is amended from 'Free' to 'Restricted'; import is allowed only through nominated agencies as notified by RBI (in case of banks) and DGFT (for other agencies). However, Import under Advance Authorisation and supply of gold directly by the foreign buyers to ...

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DGFT allows submission of self attested Exporter’s copy of Shipping Bill

Public Notice No. 48/2015-2020-DGFT 18/12/2019

Para 4.68 (a) of Handbook of Procedures 2015-20 stands amended to allow submission of self attested copy of Exporter's copy of Shipping Bill in place of E.P. copy of Shipping Bill....

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DGFT restricts Import of Peas (Pisum sativum)

Notification No. 37/2015-2020-DGFT 18/12/2019

Import of Peas (Pisum sativum) including Yellow peas, Green peas, Dun Peas and Kaspa Peas is restricted and import subject to MIP of Rs.200/- CIF per kilogram and import is allowed only through Kolkata sea port....

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National Savings Time Deposit Scheme, 2019- Detailed Analysis

Government has notified new National Savings Time Deposit Scheme, 2019 w.e.f. 12th December, 2019 vide notification No. G.S.R. 922(E).  Article explains Categories of accounts under National Savings Time Deposit Scheme, 2019, Type of Accounts, Deposit and repayment under National Savings Time Deposit Scheme, 2019, Extension of Account, R...

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Posted Under: Income Tax |

Labour supply services classifiable under Chapter head 9986

In re Manju Devi, (M/s M.D. Enterprises) (GST AAR Rajasthan)

Exemption available to 'supply of farm labour' services falling under Chapter heading 9986 under Notification No. 12/2017-Central Tax (Rate) dated 28.06.2017 and Notification No. 09/2017- Integrated Tax (rate) dated 28.06.2017 is not available to supply of manpower services falling under SAC 99851....

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No GST on Labour contract services for construction of flats under PMAY

In re Sevak Ram Sahu (M/s. S.R.S. Enterprises) (GST AAR Rajasthan)

Services of pure labour contract supplied by way of construction, erection, commissioning, installation, completion, fitting out, repair, maintenance, renovation, or alteration of a civil structure or any other original works under PMAY is exempted from GST vide Entry 10 of the Notification No. 12/2017-Central Tax (Rate) dated 28.06.2017 ...

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Fortified Rice Kernels FRK classifiable under HSN 19049090

In re JVS Foods Pvt Ltd (GST AAR Rajasthan)

AAR held that Fortified Rice Kernels FRK manufactured and supplied by the applicant is classifiable under HSN 19049090 and attracts GST @ 18% (SGST 9 % + CGST 9 %)....

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Sukanya Samriddhi Yojana – An Investment & Tax Saving Plan

Sukanya Samriddhi Yojana is a small deposit scheme of the Government of India meant exclusively for a girl child and is launched as a part of Beti Bachao Beti Padhao Campaign. The scheme is meant to meet the education and marriage expenses of a girl child. It is currently fetching higher interest rate and provides income-tax rebate....

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Posted Under: Income Tax |

Post Office Savings Account Scheme, 2019- Detailed Analysis

Government has notified new Post Office Savings Account Scheme, 2019 w.e.f. 12th December, 2019 vide notification No. G.S.R. 921(E). Article explains Type of Account under Post Office Savings Account Scheme, 2019, Deposits and withdrawals under Post Office Savings Account Scheme, 2019, Interest on deposits in an account Confirmation of ba...

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Posted Under: Income Tax |

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