Refund of Unutilized ITC On Capital Goods Under Export of Goods or Services Without Payment of Tax In order to understand that whether refund of unutilized ITC on Capital Goods is available or not under the case of export of goods or services (Zero-Rated Supplies) without payment of taxes, following provisions should be taken under […]
Major Concepts in E-Way Bill Concepts of Acceptance , Rejection and Updating of E-Way Bill E Way Bill introduces a sense of urgency in the process of movement and promptly recording the transactions. (A) Acceptance & Rejection Rule 138(12) of CGST Rules 2017 as updated 9th October 2019 talks that Where the person to whom […]
Deduction u/s 80CCD in Current and New Tax Regime and Maximum Exemption Limit for Employer’s Contribution A new regime of Income Tax for individuals and HUFs was announced in Budget 2020 which is applicable from A.Y. 2021-22 (relevant to F.Y. 2020-21). The concessional slab rates were introduced by insertion of new section 115BAC. However, for […]
Inter – Ministerial Committee to review the prices of Agricultural commodities to extend the deadline for import of additional 2.5 Lakh MT of Urad to 15th May, 2020 i..e imports should arrive at Indian Ports before 15th May, 2020.
ii. As per clause no. 5 of Annexure – II of the said SOP for social distancing for offices, workplace, factories and establishments, medical insurance for the workers to be made mandatory.
MHA issues order to exempt certain activities regarding Minor Forest Produce, Plantations, NBFCs, Cooperative Credit Societies and Construction in Rural Areas from Lockdown Restrictions to fight COVID-19. Ministry of Home Affairs (MHA) has issued an order to exempt certain activities under the consolidated revised guidelines to all Ministries/Departments (https://www.mha.gov.in/sites/default/files/MHA%20order%20dt%2015.04.2020%2C%20with%20Revised%20Consolidated%20Guidelines_compressed%20%283%29.pdf), regarding the Nationwide lockdown to fight […]
DGFT notifies the quantity of each category of peas, for fiscal year 2020-2021 vide notification no. S.O. 1260(E) dated 16th April, 2020. MINISTRY OF COMMERCE AND INDUSTRY (Department of Commerce) NOTIFICATION New Delhi, the 16th April, 2020 S.O. 1260(E).—In exercise of powers conferred by section 3 of the Foreign Trade (Development and Regulation) Act, 1992 […]
India’s overall exports (Merchandise and Services combined) in April-March 2019-20* are estimated to be USD 528.45 billion, exhibiting a negative growth of (-) 1.36 per cent over the same period last year. Overall imports in April-March 2019-20* are estimated to be USD 598.61billion, exhibiting a negative growth of (-) 6.33 per cent over the same period last year.
1. (1) These rules may be called the Prevention of Money-laundering (Maintenance of Records) Third Amendment Rules, 2020. (2) They shall come into force on the date of their publication in the Official Gazette.
The Budget target for each cadre-controlling Pr. CCIT has been fixed keeping in view the revenue potential of the Region, which is based on the weighted average growth rate of net collections of last three years, giving highest weight to the immediately preceding year
