CBIC imposes anti-dumping duty on the imports of Phosphoric Acid of all grades and concentrations (excluding Agriculture or Fertilizer grade), originating in or exported from Korea RP for a period of five years vide Notification No. 26/2020 -Customs (ADD) dated 21st August, 2020. GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) Notification No. 26/2020 […]
Based on the review of progress made under the National Strategy for financial education 2013-18 and keeping in view the various developments that have taken place over the last 5 years, notably the Pradhan Mantri Jan Dhan Yojana (PMJDY), the National Centre for Financial Education (NCFE) in consultation with the four Financial Sector Regulators and […]
Section 129 provides for the basis relating to detention of goods or conveyances or both in case of certain defaults under GST law. Detention means keeping or holding back either by force or otherwise; Confiscation means to appropriate to the Government account Seizure means to take forcible possession of.
Ranjit Singh Vs State of Haryana (Punjab and Haryana HC) This Court is of the opinion that since the maximum punishment which can be awarded is upto 5 years and the petitioner has almost undergone a period of one year having been arrested on 06.09.2019. The onerous conditions would thus violate Article 21 of the […]
Litigation Confusion created by considering supply of air conditioning plant as a composite supply in case of ruling passed by AAR (Maharastra) for M/s Nikhil Comforts. As GST is a single tax levied across India (right from manufacture of goods/ services till it reaches the end customer), the chain does not get broken and everybody […]
EPCG SCHEME – -EPCG Scheme is a part of Foreign trade policy of Govt of India. -EPCG scheme allows import of capital goods including spares for pre-production, production and post production at 0% custom duty. -EPCG Authorization holder may also source capital goods from a domestic manufacturer. Such domestic manufacturer shall be eligible for deemed […]
Important General conditions for claiming deductions under chapter VIA of The Income Tax Act, 1961 Chapter VIA of the Income Tax Act, 1961 contain the sections under which assessee can get deductions from his income to compute total income for income tax liability purpose. Though each sections has stated or provided its separate conditions for […]
The issue under consideration is whether the deduction u/s 80P is allowed against the bonus received by the Co-operative Society from M/s. Karnataka Co-operative Milk Producers’ Federation (KMF)?
These rules may be called the Customs (Administration of Rules of Origin under Trade Agreements) Rules, 2020. They shall come into force on 21st day of September, 2020.
The issue under consideration is whether assessee is allowed to file Form TRAN-1 manually with department due to technical glitches with the GST online portal?
