Following the Atmanirbhar scheme and for facilitating ease of doing business, Union Ministry of Micro, Small and Medium Enterprises (MSME), vide its Notification Dated 26.06.2020, notifies the new definition of MSME and new registration process known as – ‘Udyam Registration’ In that context, a new portal is introduced known as “UDYAM REGISTRATION PORTAL” which becomes […]
Private Placement of Securities Under Companies Act 1. Only to Identified Persons Private Place made only to identified person, Maximum no of identified Persons not more than 50 or such number of persons as may be prescribed i.e 200 as per Rule 14(2). Identified person excludes the QIB and employee of the Company being offered […]
As we know that the basic motive of principle of natural justice is to ensure fairness in social and economic activities of the people and also shields individual liberty against the arbitrary action. But what exactly are these principles?
Key Notes on Direct Taxation (Income Tax) For UNION BUDGET 2020 FOR APPLICATION AND VALIDITY OF REGISTRATION FOR TRUST/INSTITUTION U/S 10(23C), SECTION 12A, 12AA, 12AB, 80G of the Income Tax Act, 1961. The process of approval and registration of trusts, institutions, funds, university, hospital etc. proposed to be rationalised with effect from 1st June 2020, […]
Based on specific intelligence, DGGI Hqrs has detected GST evasion by a large number of grain-based distilleries on ‘wet distilled grains with solubles’ (WDGS) / ‘dried distilled grains with solubles’ (DDGS). These are distillery waste and dregs arising as a by-product in the process of manufacturing ethanol.
Notification No. 56/2020- Customs (N.T.) – Regarding amendment in notification No. 07/2020-Cus. (N.T.) dated 28.01.2020 relating to AIRs of Duty Drawback. MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION No. 56/2020- CUSTOMS (N.T.) New Delhi, the 13th July, 2020 G.S.R. 442(E).— In exercise of the powers conferred by sub-section (2) of section 75 of the Customs […]
1. (1) These rules may be called the Inland Waterways Authority of India (Amendment) Rules, 2020. (2) They shall come into force on the date of their publication in the Official Gazette.
Assessment order passed by the A.O u/s 143(3) r.w.s 144C(3), in the hands of M/s Satyam Computers Services Ltd., i.e an entity that was non-existent on the date on which the assessment order was passed, had been held by the Tribunal in its aforesaid order as non-est in the eyes of law, therefore, the same does not survive and on the same terms is quashed.
Notification No. 31/2020-Customs- Seeks to further amend notification no. 152/2009 dated 31.12.2009, to increase the rate of duty of customs on imports of “Polybutadiene Rubber” originating in Korea RP and imported under the India-Korea Comprehensive Economic Partnership Agreement, on recommendation of preliminary findings of Directorate General of Trade Remedies under India-Korea Comprehensive Economic Partnership Agreement […]
Notification No. 47/2020- Central Government notifies Goa Real Estate Regulatory Authority and Telangana State Real Estate Regulatory Authority in respect of the specified income arising to that board under section 10(46) of Income Tax Act, 1961. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) Notification No. 47/2020-Income Tax New Delhi, the 13th […]
