"10 September 2020" Archive

Extend Faceless Assessment of imports made in Mumbai Customs

Public Notice No.113/2020-JNCH (10/09/2020)

Extending Faceless Assessment of imports made in Mumbai Customs Zone II beyond Group 2A in phases i.e. on 15.09.2020 for Group 5, 5A, 5B, on 01.10.2020 for Group 1, 2G, 2K, 3, 4, 6 and on 31.10.2020 for Groups 1A, 2, 2B, 2C, 2D, 2E, 2F, 2H, 2I and 2J as part of further roll-out of Faceless Assessment at All India level at ports of import ...

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IBBI (Annual Report) Amendment Rules, 2020

Notification No. G.S.R. 563(E) (10/09/2020)

Insolvency and Bankruptcy Board of India (Annual Report) Amendment Rules, 2020- Dates for submission of the annual report referred to in rule 3 of annual accounts for audit leading to the issue of Audit Certificate by the Comptroller and Auditor General of India and for submission to the Ministry of Corporate Affairs for timely submission...

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Expert committee to assist Govt for assessment of relief to bank borrowers

Various concerns have been raised during the proceedings of the ongoing hearing in Hon’ble Supreme Court of India, in the matter of Gajendra Sharma Vs. UoI and Others, of the matter regarding the relief sought in terms of waiver of interest and waiver of interest on interest and other related issues....

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Posted Under: DGFT |

Finance Minister unveils Doorstep Banking Services

Union Minister of Finance & Corporate Affairs Smt. Nirmala Sitharaman today inaugurated Doorstep Banking Services by PSBs and participated in the awards ceremony to felicitate best performing banks on EASE Banking Reforms Index....

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Posted Under: DGFT |

GSTR 5- Furnishing of Return By Registered Non Resident Taxable Person

Every registered non-resident taxable person shall furnish a return in FORM GSTR 5 electronically through the common portal, either directly or through a Facilitation Centre notified by the Commissioner, including therein the details of outward supplies and inward supplies and shall pay the tax, interest, penalty, fees or any other amou...

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Posted Under: DGFT |

Limited Liability Partnership (LLP) Incorporation In India

Apart from doing business in form of company, there are other ways of doing business also like partnership which is most preferred. However, there are some demerits of partnership when business start going down. That is why a concept was introduced having the benefits of company as well as partnership and which is called Limited […...

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Posted Under: DGFT |

Section 10(46) exemption to District Mineral Foundation Trust

Notification No. 73/2020-Income Tax/S.O. 3088(E). (10/09/2020)

Notification No. 73/2020 Central Government notifies ‘District Mineral Foundation Trust’ constituted by Government in exercise of powers conferred under section 9(B) of the Mines and Minerals (Development and Regulation) Amendment Act, 2015 (10 of 2015) as a ‘class of Authority’, in respect of the specified income under section 10...

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Extension of Last Date of Filing Cost Audit Report for FY 2019-20

General Circular No. 29/2020 (10/09/2020)

It has been decided that if cost audit report for the financial year 2019-20 by the cost auditor to the Board of Directors of the companies is submitted by 30th November, 2020...

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Verification guideline for Rules of Origin under FTA/PTA/CECA/CEPA & Certificates of Origin

Standing order No. 25/2020-JNCH (10/09/2020)

Standing Order No. 25/2020- Guidelines regarding implementation of section 28DA of the Customs Act, 1962 and CAROTAR, 2020 in respect of Rules of Origin under Trade Agreements (FTA/PTA/CECA/CEPA) and verification of Certificates of Origin...

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Refund of ITC on Input Services-  Logic defies the Lawgic

Matter to be analysed- Gujarat High Court allows the refund of unutilized ITC on Input Services. Ever since the advent of GST the refund of ITC has been a matter of grave concern and a tussle for the taxpayer to get it conveniently from revenue authorities who are busy jostling for ramping up the collection, […]...

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Posted Under: DGFT |

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