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Archive: 29 July 2020

Posts in 29 July 2020

Anti-Dumping Duty on import of ‘Digital Offset Printing Plates’

July 29, 2020 4482 Views 1 comment Print

CBIC imposes definitive Anti-Dumping Duty on import of ‘Digital Offset Printing Plates’ originating in, or exported from People’s Republic of China, Japan, Korea RP, Taiwan and Vietnam vide Notification No. 21/2020-Customs (ADD) dated 29th July, 2020. GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) Notification No. 21/2020-Customs (ADD) New Delhi, the 29th July, 2020 […]

Anti-dumping duty on imports of Aniline import from China extended

July 29, 2020 2229 Views 0 comment Print

CBIC imposes provisional anti-dumping duty on imports of Aniline originating in or exported from China PR for a period of six months vide Notification No. 20/2020-Customs (ADD) dated 29th July, 2020. GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) Notification No. 20/2020-CUSTOMS (ADD) New Delhi, the 29th July, 2020 G.S.R. 474(E). – Whereas, in the […]

Analysis of Section 85 to 94 | GST Liability | CGST ACT 2017

July 29, 2020 10182 Views 0 comment Print

Simplified GST Series- Section 85-94/CGST ACT 2017– Article analyses Section 85- Liability in case of Transfer of Business, Section 86- Liability of Agent and Principal, Section 87- Liability in case of amalgamation or merger of companies, Section 88- Liability in case of company in liquidation, Section 89- Liability of directors of private company, Section 90-  […]

Guidance Note on SEBI (Issue and Listing of Municipal Debt Securities) Regulations, 2015

July 29, 2020 735 Views 0 comment Print

In terms of Regulation 29 of the Municipal Regulations, Guidance Note on SEBI (Issue and Listing of Municipal Debt Securities) Regulations, 2015 is being provided for benefit of Issuers and market participants.

Claiming Unpaid Amounts and Shares from IEPF

July 29, 2020 3450 Views 5 comments Print

We have seen many people stand un-aware of their shareholding in the Company due to several reasons and they find themselves helpless regarding the procedure to claim the same as filing of Form on IEPF website as it is little tricky from their point of view. Keeping in mind their point of view, we tried […]

No TDS on ocean freight paid to non-resident shipping companies

July 29, 2020 89403 Views 0 comment Print

Shri Suresh Khatri Vs ITO (ITAT Lucknow) Ground Nos. 1 to 3 of the appeal relate to the disallowance of Rs.6,42,437/- for non deduction of tax at source u/s 40(a)(ia) of the Act on payment of ocean freight, made to non-resident shipping companies. The assessee is a proprietary concern and engaged in the business of […]

E-commerce under GST regime

July 29, 2020 13548 Views 0 comment Print

E-Commerce under gst regime As the Commerce of Goods and Services moves Online with a Fast Pace in a COVID-19 World it is intriguing how the new indirect tax regime would be able to deal with these transactions. The Aim is not only to capture and tax these transactions easily and fairly but to also […]

Scope of prima facie adjustment u/s 143(1) of Income Tax Act

July 29, 2020 35473 Views 16 comments Print

Many times I have observed in the industry that there is various doubts and misconceptions regarding Intimation u/s 143(1) i.e summary assessment. Hence today I have decided to discussed this for better understanding of the section. So lets start the discussion. Some reasons which may attract demand U/s 143 (1): 1. TDS Credit Mismatch 2. […]

Digital Signature – How to Register / Sign ITR & FAQ

July 29, 2020 51672 Views 2 comments Print

If an individual does’t have a Digital Signature, does this mean he/she cannot file the return online? Do I need a fresh digital signature, in case I already have one? How much does a DSC cost? How can a DSC be attached with the return while uploading ? The Web site accepts DSC in the .pfx format. Other formats like .cer are not being accepted. Can USB token based DSC be used to file the return ? It is not clear what class of DSC should be used while filing the return ? Company name has been changed in the income tax database but still on the e-filing website, previous name is shown after logging in, Why? I am unable to register DSC in the ITD e-filing website ? How to register the DSC of foreign company? When I upload my return with DSC, I get the error fake path and can’t read the file. Why is it so?

Section 12AB of Income Tax Act, 1961- Provisions & registration procedure

July 29, 2020 187623 Views 32 comments Print

Union Budget 2020 proposed significant changes in compliance and registration procedure of Religious or Charitable Trusts/ Institutions etc. which are registered under section 12AA of the Income Tax Act. Accordingly, the following amendment was made in the Finance Act, 2020 which reads as:- Under Section 11:- In section 11 of the Income-tax Act, in sub-section […]

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