Susheel Prasad Todi Vs Acme Housing India Pvt Ltd. (National Anti-Profiteering Authority) In this case It is established that the provisions of Section 171 of the CGST Act, 2017 have been contravened by the builder as he has profiteered an amount of Rs. 2,10,57,462/- which includes 12% GST on the base profiteered amount of Rs. […]
Rule 42 of the CGST Rules, 2017 lays down the mode of computation of mandatory reversal of the unutilized input tax credits in respect of unsold flats/shops of a real estate project at the time of receipt of completion Certificate (CC)/ occupancy certificate (OC) or on the date of first occupancy, whichever is earlier.
Kishore Arjandas Udasi Vs Wheelabrator Alloy Castings Pvt. Ltd. (NAA) Facts of the Case: The brief facts of the case are that vide his application dated 09.08.2018 filed before the Maharashtra State Screening Committee on Anti-profiteering under Rule 128 (2) of the CGST Rules, 2017, the Applicant No. 1 had alleged profiteering by the Respondent […]
Every individual policyholder (including members under family floater policy) covered under an indemnity based individual health insurance policy shall be provided an option of migration at the explicit option exercised by the policyholder;
Objection to be filed by the assessee in case notice u/s 148 is issued to the assessee . Below is the complete procedure laid down by the Hon’ble SC In the case of GKN Driveshafts (India) Limited v. ITO (2003) 259 ITR19(sc), The Hon’ble Supreme Court has laid down an elaborate procedure as to the […]
Migration means, the right accorded to health insurance policyholders (including all members under family cover and members of group health insurance policy), to transfer the credit gained for pre-existing conditions and time bound exclusions, with the same insurer.
Ad-hoc Norms approved vide ALC meeting no. 8/19 dt. 20/07/2018 for Cashew Kernels Whole & Cashew Kernels pieces stands suspended with immediate effect. Government of India Ministry of Commerce and Industry Department of Commerce Directorate General of Foreign Trade Public Notice No. 53/2015-2020-DGFT New Delhi, Dated the 01St January, 2020 Subject: Amendments in the Ad-hoc […]
Standard Input Output Norms (SION) in respect of seven food products have been reinstated with immediate effect after amending the input item Maize to Dent Corn (Zea mays var. indenta): Yellow with ITC-HS 10059011. Government of India Ministry of Commerce & Industry Department of Commerce Directorate General of Foreign Trade Public Notice No. 52/2015-2010-DGFT New […]
It has now been decided that all client transactions in currency derivatives, including those with notional amount of below USD 1 mn, shall now be reported to the TR, with effect from January 06, 2020.
As provided in paragraph 3(i) of the above directions, the Reserve Bank hereby notifies the following benchmarks administered by Financial Benchmarks India Pvt. Ltd. (FBIL) as a ‘significant benchmark’:
